Palm City FL 34990 Condo Market Report February 2017

Palm City FL 34990 Condo Market Report February 2017

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

 

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



There are currently 92 active condo listings. (Increased by 1 condos from January)

   Palm City FL 34990 Condo Market Report February 2017

11 Condo sales are pending and awaiting close or lender approval. (Up by 3 condos from last month)

Palm City FL 34990 Condo Market Report February 2017

6 Condos Sold in February. (Up by 1 condos from January)

Palm City FL 34990 Condo Market Report February 2017

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Activity was very similar to last month with small gains in pending and closed sales.

The current absorption rate for condos in the 34990 zip code area decreased to 15.3 months (was 18.5 months in February). Still a buyers’ market for Palm City condominiums but trending in the right direction.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The February 2016 numbers were: 65 active listings, 15 pending sales and 6 closed sales.   Similar activity this year but with a much larger inventory.
Palm City FL 34990 Condo Market Report February 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 February 2017

Stuart FL 34997 Condo Market Report February 2017

Stuart FL 34997 Condo Market Report February 2017

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

 

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

There are currently 75 active condo listings (Decreased by 5 condos from January).

Stuart FL 34997 Condo Market Report February 2017

32 Condo sales are pending and awaiting close or lender approval (Down by 2 condos from January).

Stuart FL 34997 Condo Market Report February 2017

22 Condos Sold in February (Increased by 7 condos from January).

Stuart FL 34997 Condo Market Report February 2017

     The Stuart FL condo market for zip code 34997 continued with even a more active month for the February 2017 time period.
     The absorption rate plunged to 3.4 months in February from 5.3 months for January.  Going into even a stronger 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 February 2016 numbers were: 78 active listings, 38 pending sales and 9 closed sales.  Considerably stronger activity for this year as compared to 2016.

Stuart FL 34997 Condo Market Report February 2017

Stuart Florida Real Estate presented by:
Gabe Sanders

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

 

 

Stuart FL 34996 Condo Market Report February 2017

Stuart FL 34996 Condo Market Report February 2017

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

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

There are currently 153 active condo listings (Down by 17 condos from last month).

Stuart FL 34996 Condo Market Report February 2017

56 Condo sales are pending and awaiting close or lender approval (Increased by 25 condos from January).

Stuart FL 34996 Condo Market Report February 2017

19 Condos Sold in February (Down by 3 condos from January) 

Stuart FL 34996 Condo Market Report February 2017

The Stuart FL 34996 Condo Market of Stuart showed a reduction of inventory with a large jump in pending sales, indicating a potential for better closed sales coming up in the next few months.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 rose slightly to 8.1 months from January’s 7.7 months.  Remaining in a buyers 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 February 2016 were: 118 active listings, 53 pending sales and 18 closed sales.  Much more inventory this year with slightly greater volume of both closed and pending sales.

Stuart FL 34996 Condo Market Report February 2017

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Stuart Florida Real Estate presented by:
Gabe Sanders

Stuart FL 34996 Condo Market Report February 2017

Stuart FL 34994 Condo Market Report February 2017

Stuart FL 34994 Condo Market Report February 2017

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for February 2017

For February 2017 in the 34994 Zip Code area of Stuart, Florida :

 

There are currently 101 active condo listings (Up by 10 condos from January).

Stuart FL 34994 Condo Market Report February 2017

28 Condo sales are pending and awaiting close or lender approval. (Decreased by 12 condos from last month) 

Stuart FL 34994 Condo Market Report February 2017

23 Condos Sold in February (Up by 5 condos from January).

Stuart FL 34994 Condo Market Report February 2017

The Stuart FL 34994 Condo market continues with strong activity for the 2017 condo real estate market.

The absorption rate for February dropped to 4.9 months compared to last month’s 5.1.  Continuing as a buyers’ market for this condo segment of Stuart’s 34994 zip code area.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last February the numbers were 91 active listings, 32 pending sales, and 20 closed sales.   Slightly better closed sales volume while weaker pending sales on slightly greater inventory.

Stuart FL 34994 Condo Market Report February 2017

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Stuart Florida Market Report ZIP Code 34994 – Condo, February 2017

Florida Townhouses and Condos January 2017 Market Detail

Florida Townhouses and Condos January 2017 Market Detail

The Florida Townhouses and Condos Market Detail for January 2017 began the year with mostly positive activity when compared to last year and the previous month.   Closed sales were up by 6.2% as compared to last months decrease of 5.2% and new sales under contract (new pending sales) increased by 6.5% (In December there was a 2.1% decrease).

Values continued to increase though at a more moderate pace.  Median sales prices were up by 6.6% (was up by 7.7% in December), while the average sales price increased by 4.0% (was up 4.2% in December).  As sales activity decreases and if inventory continues to increase, I expect these prices to continue to moderate, though they are staying pretty resilient at this time.

The inventory increased by 6.3% from January of last year.  For January 2017 we have 6.4 months of inventory (was  6.0 months in December) and compared to 5.8 for January 2016.  We remain in a balanced market for Florida townhouse and condo sales but are drifting slowly towards a buyers market in the past year. 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 January 2017 Market DetailFlorida Townhouses and Condos January 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 January 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 January 2017 Market Detail