Florida Townhouses and Condos May 2017 Market Detail

Florida Townhouses and Condos May 2017 Market Detail

The Florida Townhouses and Condos Market Detail for May 2017 showed continued growth when compared to last year.   Closed sales were up by 8.0% as compared to last month’s decrease of 4.0% and new sales under contract (new pending sales) increased by 8.0% (In April there was a 5.5% decrease).

Prices rose for the month.  Median sales prices were up by 8.1% (was up by 7.2% in April), while the average sales price decreased by 8.0% (was down 0.9% in April).  Back to steadily increasing values.

The inventory of active listings decreased by 1.5% from May of last year.  For May 2017 we have 6.0 months of inventory (was 6.1 months in April) and compared to 6.1 months for May 2016.  We remain in a balanced market for Florida townhouse and condo sales.  A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.

Florida Townhouses and Condos May 2017 Market Detail

Click on the link below or the graphic to see the full market detail report from Florida Realtors: Click here to view or download the full report:
Florida Townhouses and Condos May 2017 Market Detail

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Townhouses and Condos May 2017 Market Detail

Hobe Sound FL 33455 Condo Market Report May 2017

Hobe Sound FL 33455 Condo Market Report May 2017

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for May 2017

 

For May 2017 in the 33455 Zip Code area of Hobe Sound, Florida :

 

There are currently 16 active condo listings. (Increased by 1 condos from April)

Hobe Sound FL 33455 Condo Market Report May 2017

5 Condos are pending and awaiting close. (Down by 1 condo from April)

Hobe Sound FL 33455 Condo Market Report May 2017

2 Condos sold in May. (Decreased by 2 condos from April)

 Hobe Sound FL 33455 Condo Market Report May 2017

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  Closed sales were off for this month, but overall the market activity is still very good.

The absorption rate for Hobe Sound condos decreased to 8 months for May (was 3.8 in April).  Back into a buyers’ market for Hobe Sound condos. Absorption rates in this segment of the Martin County real estate market should be taken with a liberal grain of salt, as small changes in activity make for very large changes on percentages that do not reflect a true trend in the market. An absorption rate of 6 to 7 months is considered to be a balanced market favoring neither the buyer or seller.

The May 2016 numbers were: 5 active listings, 7 pending sales and 0 closed sales.  Better activity this year as the inventory has just about tripled.

Hobe Sound FL 33455 Condo Market Report May 2017

Hobe Sound Florida Real Estate presented by:
Gabe Sanders

Hobe Sound FL 33455 Condo Market Report May 2017

Palm City FL 34990 Condo Market Report May 2017

Palm City FL 34990 Condo Market Report May 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for May 2017

 

For May 2017 in the 34990 Zip Code area of Palm City, Florida :



There are currently 76 active condo listings. (Decreased by 10 condos from April)

   Palm City FL 34990 Condo Market Report May 2017

11 Condo sales are pending and awaiting close or lender approval. (Up by 2 condos from last month)

Palm City FL 34990 Condo Market Report May 2017

4 Condos Sold in May. (Down by 4 condos from April)

Palm City FL 34990 Condo Market Report May 2017

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Market activity remains pretty slow for Palm City condos and remains a difficult market for sellers.  (Though a good part of this difficulty comes from two equity golf club communities.)

The current absorption rate for condos in the 34990 zip code area jumped to 19 months (was 10.8 months in May).  A strong buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The May 2016 numbers were: 62 active listings, 13 pending sales and 7 closed sales.   Better volume on lower inventory from last year.
Palm City FL 34990 Condo Market Report May 2017

Stuart Florida Real Estate presented by:
Gabe Sanders

 

Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City FL 34990 Condo Market Report May 2017

Stuart FL 34997 Condo Market Report May 2017

Stuart FL 34997 Condo Market Report May 2017

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for May 2017

 

For May 2017 in the 34997 Zip Code area of Stuart, Florida :

There are currently 61 active condo listings (Decreased by 9 condos from April).

Stuart FL 34997 Condo Market Report May 2017

22 Condo sales are pending and awaiting close or lender approval (Decreased by 22 condos from April).

Stuart FL 34997 Condo Market Report May 2017

37 Condos Sold in May (Increased by 32 condos from April).

Stuart FL 34997 Condo Market Report May 2017

     The Stuart FL condo market for zip code 34997 had a surprisingly large jump in closed sales after a disapointing prior month.  Pending sales are down, though, an it will be very difficult to have this kind of activity continue through the coming summer months.  The inventoy is also down.
     The absorption rate plunged to 1.6 months in May from 14 months for April.  A huge shift into a sellers’ market for the 34997 zip code of Stuart FL.  A 6 to 7 month absorption rate is typically considered to be a balanced market that favors neither the buyer nor the seller.
 The May 2016 numbers were: 73 active listings, 40 pending sales and 17 closed sales.  Considerably stronger closed sales this month compared to last year.

Stuart FL 34997 Condo Market Report May 2017

Stuart Florida Real Estate presented by:
Gabe Sanders

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for May 2017

 

 

Stuart FL 34996 Condo Market Report May 2017

Stuart FL 34996 Condo Market Report May 2017

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for May 2017

For May 2017 in the 34996 Zip Code area of Stuart, Florida :

There are currently 137 active condo listings (Decreased by 11 condos from last month).

Stuart FL 34996 Condo Market Report May 2017

36 Condo sales are pending and awaiting close or lender approval (Increased by 1 condos from April).

Stuart FL 34996 Condo Market Report May 2017

30 Condos Sold in May (Down by 10 condos from April) 

Stuart FL 34996 Condo Market Report May 2017

The Stuart FL 34996 Condo Market of Stuart had continued strong sales activity for May.  The inventory decreased while there was little change in pending sales as closed sales were down from last month.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 dropped to 4.6 months from April’s 3.7 months.  Remaining as a sellers market for this segment of Martin County condos.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for May 2016 were: 120 active listings, 40 pending sales and 32 closed sales.  Slightly weaker activity this year when compared to last year.

Stuart FL 34996 Condo Market Report May 2017

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Stuart Florida Real Estate presented by:
Gabe Sanders

Stuart FL 34996 Condo Market Report May 2017