Stuart FL 34997 Residential Market Report February 2016

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for February 2016

There are currently 321 active listings (Increased by 22 homes from January).

175 Residential sales are pending and awaiting close or lender approval (Increased by 19 homes from January).

58 Homes Sold in February (Decreased by 30 homes from January)

      The Stuart Florida Residential Market for ZIP Code 34997 continues as the largest and the strongest segment of the Martin County single family real estate market.  After a very hot month of sales last month, closed sales dropped for February, but both available inventory and pending sales rose.  This should be an excellent sign for future activity.

     The current one month absorption rate rose to 5.5 months (was 3.4 months for January).  Still a sellers market for the 34997 segment of the Stuart residential market for the beginning of 2016.  Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7 month absorption rate.

     The 2014 numbers for February, were: 373 active listings, 202 pending listings and 72 closed sales.  Unfortunately the volume of activity was a bot stronger last year, though also with greater inventory.

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