October 2013 Market Update Palm City Farms

10.22.13 by

October 2013 Market Update Palm City Farms

There are currently 58 homes on the market in Palm City Farms.  Listing prices range from $65,000 to $4,600,000.  The average price per square ft. of living area is $282.97.  These include 4 short sales and 2 bank owned foreclosure listings.

There are currently 16 homes under contract awaiting settlement.  Listing prices ranged from $67,000 to 675,000, for an average of $124.76 per sq. ft. of living area.  8 of these listings are short sales and 2 are foreclosures.

In the past 12 months, 64 homes have sold in Palm City Farms with sales prices ranging from $50,000 to $1.100.000 for an average of $135.11 per sq. ft. of living area.  There were 11 short sales and 11 foreclosure sales in this group of sales.


Homes and Land for Sale in Palm City Farms


If you’re looking for an area of secluded acreage, yet still be close to shopping, entertainment the beach and navigable waterways Palm City Farms may just be the dream setting you are looking for.  Prices are currently more affordable than they have been in the past 5 or 6 years.

Homes and Land in Palm City Farms


Beautiful acreage with 5 acre and larger home sites and vacant land abound in Palm City Farms. This is the perfect location for your equestrian needs as well as many other agricultural uses.  All within minutes of Martin County ‘A’ rated schools, shopping, beaches and easy access to I-95 and Florida’s Turnpike.

Homes and Land for Sale in Palm City, Farms

 

For additional information about Palm City Farms please contact us.

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October 2013 Market Update Palm City Farms

Stuart Florida Market Report ZIP Code 34997 Residential September 2013

10.22.13 by

Stuart Florida Market Report ZIP Code 34997 Residential September 2013

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for September 2013

 

There are currently 356 active listings (Increased by 9 homes from August).
Stuart Florida Market Report ZIP Code 34997 Residential September 2013

 

175 Residential sales are pending and awaiting close or lender approval (An increase of 8 homes from August). Stuart Florida Market Report ZIP Code 34997 Residential September 2013

 

70 Homes Sold in September (Up by 12 homes from August)
Stuart Florida Market Report ZIP Code 34997 Residential September 2013

 

The Stuart Florida Market Report ZIP Code 34997 showed a very nice increase in activity from last month.  The inventory rose for the second month in a row, unlike most other areas of Martin County.  Both sales and pending sales also increased.
 
The current one month absorption rate declined to 5.1 months dropping this segment of the Stuart residential market into a sellers market ( down from last months 6 month absorption rate).  Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 month absorption rate.  
 
The 2012 numbers were: 365 active listings, 158 pending listings and 70 closed sales.   Very similar activity to last September, though the pending sales are stronger this year.
 
 
Please use the charts below as reference only as they rely on all residential types of property in the 34997 real estate market:Stuart Florida Market Report ZIP Code 34997 Residential September 2013
 
 

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Stuart Florida Market Report ZIP Code 34997 Residential September 2013

Stuart Florida Market Report ZIP Code 34996 Condo September 2013

10.21.13 by

Stuart Florida Market Report ZIP Code 34996 Condo September 2013

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for September 2013

For September 2013 in the 34996 Zip Code area of Stuart, Florida :

There are currently 176 active condo listings (Down 2 from last month).
Stuart Florida Market Report ZIP Code 34996 Condo September 2013

 

35 Condo sales are pending and awaiting close or lender approval (An increase of 13 condos from August).

 Stuart Florida Market Report ZIP Code 34996 Condo September 2013

 

 

 

17 Condos Sold in September (Up by 4 from August)  Stuart Florida Market Report ZIP Code 34996 Condo September 2013

 

After a slow August the Stuart Florida Market Report ZIP Code 34996 for Condos for September 2013 showed aa nice little rebound, even while other areas are still struggling.   Both pending and closed sales increased from August and the inventory remains fairly steady.  We are currently in the slower season for condo sales and I am pleased to see the increased activity in condo sales in the 34996 zip code area of Stuart.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo decreased to 10.4  months from August’s 13.7.  Still a buyers market in September of 2013.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for September 2012 were: 198 active listings, 28 pending sales and 8 closed sales.   Considerably better activity for this year as compared to last, especially when the reduced inventory is considered.

 

Please use the charts below as reference only as they rely on all residential types of property in the 34996 real estate market:Stuart Florida Market Report ZIP Code 34996 Condo September 2013

 

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Stuart Florida Market Report ZIP Code 34996 Condo September 2013

Rocky Point Open House at 5695 SE Matousek St October 20

10.19.13 by

Rocky Point Open House at 5695 SE Matousek St October 20

Join us on Sunday, October 6 from 1 to 4 PM at 5695 SE Matousek St. in Rocky Point, Stuart, FL for an open house.  Get a first hand look at this totally remodeled home with easy access to fishing and boating just off the Saint Lucie Inlet.

List price is $369,000.  Sellers are motivated and requesting offers.

Marina of Rocky Point Estates

An amazing opportunity in Rocky Point Estates.  This two story Key West style pool homes has seen a total makeover in the past few years.  The second floor is a spacious 2 BR, 1 BA, space with a full country kitchen, living and dining areas and laundry room. There’s a 360 degree covered wrap around porch to enjoy the cool ocean breezes year round.  Floors are Dade County Pine.  The living room has a Vermont Casting wood stove for those rare winter days when a little warmth may be required.  A newer 30 year metal roof (2005). The attic, trusses, decks and staircase are all Cypress (which is no longer available for home construction).  This structure is supported by reinforced poured concrete.

Exterior of Rocky Point Pool Home

The CBS first floor has been recently updated.  Boasting a great room concept with 1 BR and 1 Bath and new kitchen with granite counters and stainless appliances.  Spacious bathroom with Carrera marble.  Perfect for the extended family needing two living spaces or a possible income producing apartment. Only steps away from the Rocky Point Estates marina and boat ramp. As of this writing docks are available for sale or lease. Please call for an extensive list of features and updates for this home.   

Living area of Rocky Point Pool Home

Living area of Rocky Point Pool Home

There’s a gas heated pool and spa on the perfectly manicured grounds.  Two driveways.  Backup generator that will power both levels.  Security system. Attached car port that can easily be enclosed to a garage.

Apartment Kitchen in Rocky Point Pool Home

Rocky Point Estates is a boating community with a marina and boat ramp that is only minutes from the crystal clear waters of the Atlantic.  A mecca for fisherman from the world over.  There’s also a large picnic area with a covered portico as well as fishing piers with cleaning stations.  All only steps from this home.  Docks are available to purchase and lease for only the residents and members of the Rocky Point Estates Homeowners Association.  HOA fees are a minimal $75.00 per year.

Pool of Rocky Point Pool Home

Boat Ramp of Rocky Point Estates

 

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Rocky Point Open House at 5695 SE Matousek St October 20

Stuart Florida Market Report ZIP Code 34996 Residential September 2013

10.18.13 by

Stuart Florida Market Report ZIP Code 34996 Residential September 2013

 Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for September 2013

 

For September, 2013 in the Stuart Florida Market Report ZIP Code 34996 Florida :

 

There are currently 140 active listings (Increased by 15 homes from August).
Stuart Florida Market Report ZIP Code 34996 Residential September

 

 

16 Residential sales are pending and awaiting close or lender approval (Decreased by 10 homes from August).Stuart Florida Market Report ZIP Code 34996 Residential September

 

 

13 Homes Sold in September (Decreased by 12 homes from August).
Stuart Florida Market Report ZIP Code 34996 Residential September

 

 

Unfortunately, very soft numbers for the 34996 zip code area of Stuart Florida real estate market activity for September 2013.  Pending sales took a double digit hit for the second month in a row while closed sales were also off by 12 homes.  The inventory took a nice jump, which makes more homes available for potential buyers. 

The one month absorption rate for the 34996 zip code area of Stuart Florida for September jumped to 10.8 months as compared to August’s 5 months, having slipped back into a buyers market.  A balanced market, favoring neither buyer or seller is considered to be around a 6 month absorption rate.

The numbers for September of 2012 were: 154 active listings, 34 pending sales and 7 closed sales.   Marginally outperforming last years market, though the reduced pending sales numbers are troubling.

 

Please use the charts below as reference only as they rely on all residential types of property in the 34996 real estate market:Stuart Florida Market Report ZIP Code 34996 Residential September

 

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Stuart Florida Market Report ZIP Code 34996 Residential September 2013

October 2013 Market Update Sunset Trace Palm City

10.16.13 by

October 2013 Market Update Sunset Trace Palm City

As of October 2013, there are only 4 active listings for sale in Sunset Trace. List prices vary from $95,000 to $159,900 with an average of $96.88 per square foot of living area. (No short sales or foreclosures)

There are currently 3 homes under contract and awaiting settlement.  The listing prices range from $107,900 to $147,000 for an average list price of $91.88 per sq. ft. of living area.  (Includes one foreclosure)

In the past 12 months, 32 homes have sold in Sunset Trace.  Sales prices ranged from $64,299 to $145,000 for an average of $78.03 per sq. ft. and a 94% list to sales ratio.  These sales included 4 foreclosures (bank owned) home and 5 short sales.

 

Just across the street from the Martin Downs Golf Club lies the gated community of Sunset Trace in Palm City, FL.  Conveniently located close to Florida’s Turnpike as well as shopping, restaurants and medical facilities.  And only a 15 minute ride to the pristine waters of the Atlantic Ocean and the numerous waterways and boating facilities available in Martin County, FL.

Sunset Trace is a DiVosta community of approximately 500 residences.  There are four types of homes in this community:   DiVosta quad townhomes which feature 2 Bedrooms and 2 and ½ bathrooms with 1,236 sq. ft. of living area; Stamford models, also four townhomes to a building featuring 2 Bedrooms and 2 and ½ bathrooms with 1,1374 sq. ft. of living area; Wellesley models  have 3 Bedrooms and 2 Bathrooms in 1,295 sq. ft. and finally the Villas in Sunset Trace offer attached single family homes with 3 Bedrooms, 2 and ½ baths and a one car garage in 1346 square feet of living area.

Sunset Trace was developed and built from 1984 to 1988.  It features two community pools, three tennis courts, outdoor racquet and/or handball courts and a full size basketball court.  There’s a playground for the little ones as well.  This is a lushly landscaped community with a number of lakes and ponds on the grounds making for some great water views.

All ages are welcome in Sunset Trace and children attend Citrus Grove Elementary School, Hidden Oaks Middle School and Martin County High School.  The HOA fees run $305 per month, but include exterior and hurricane insurance, basic cable TV, Lawn and Landscaping, pest control and security.  Making life in Sunset Trace easy and care free.

Search here for:

Sunset Trace Villas and Townhomes for Sale

October 2013 Market Update Sunset Trace Palm City

Islesworth Home Sold in Palm City

10.15.13 by

Islesworth Home Sold in Palm City

Islesworth Home Palm City FL

4 bedroom CBS pool home with spectacular lake views. Gracious open split floor plan, vaulted ceilings, kitchen open to breakfast bar and family room. Oak hardwood in Lr, Dr, Fr., tile.  New interior paint.  Newer roof and AC.  Accordion shutters.  Easy access to I-95 and turnpike. Close to A rated Palm City elementary and Hidden Oaks middle school. Enjoy the beaches, shopping , restaurants, minutes away. Community tot lot

Islesworth Home Palm City FL

The Islesworth subdivision in Palm City is a very attractive neighborhood located in the heart of Palm City, FL in a non-gated community off of Route 714 (Martin Highway).  This was a Pulte community with 113 homes being built from 1996 through 1998.  Most homes are on spacious lots from just under to over ¼ acre sites. 

Islesworth Home Palm City FL

Many homes enjoy serene water views as there are two smaller lakes in this community.  Both single and two story homes with the vast majority being 4 bedroom homes though there are a number of 5 bedroom homes as well as a few 3 bedroom homes.  The current HOA fees are a very reasonable $463.00 per quarter.  The fees include maintenance and insurance of the common areas, roads, reserve funds and basic cable TV.Islesworth Home Palm City FL

 

Islesworth is right next door to Hidden Oaks Middle School and only a short bike ride to Palm City Elementary School.  Children in Islesworth go to Martin County High School which is approximately 5 miles away. 

Islesworth Playground

Close to grocery and other shopping as well as medical facilities and places of worship, Islesworth offers very easy access to most resident’s needs.  For those needing to commute, both Florida’s Turnpike and I-95 are both only a short distance away.

 

Islesworth Entrance 

Here are the currently available homes in Islesworth Home Sold in Palm City

 

For any questions you may have about Islesworth Home Sold in Palm City, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

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Islesworth Home Sold in Palm City

Stuart Florida Market Report ZIP Code 34994 Residential September 2013

10.14.13 by

Stuart Florida Market Report ZIP Code 34994 Residential September 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for September 2013

For September, 2013 in the 34994 Zip Code area of Stuart, Florida :

 

There are currently 62 active listings (Up 3 from August)

Stuart Florida Market Report ZIP Code 34994 Residential August 2013

 

36 Residential sales are pending and awaiting close or lender approval (Up 3 homes from August).

Stuart Florida Market Report ZIP Code 34994 Residential August 2013 

9 Homes Sold in August (Increased by 1 homes from August)
Stuart Florida Market Report ZIP Code 34994 Residential August 2013

 

The 34994 ZIP code area of the Stuart, Florida had better activity for September than August.  Somewhat surprising as this is usually a slower month.  This is q a good indicator for the immediate future of the 34994 zip code market of Stuart.  All indicators moved in a positive direction.

The one month absorption rate for the 34994 zip code for September decreased yo 6.9 months from last months 7.4 months.  Almost a balnced market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage. 

The September 2012 numbers were 61 Active Listings, 37 pending sales and 12 closed sales.   Unfortunately, for the 34994 zip code area of Stuart, FL the market had better activity last year as compared to September of 2013.

 Stuart Florida Market Report ZIP Code 34994 Residential August 2013

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market:

 

Search here for Stuart Florida Real Estate for Sale

 

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Stuart, FL Real Estate

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Stuart Florida Market Report ZIP Code 34994 Residential September 2013

Price Reduced in Palm Cove Golf and Yacht Club

10.14.13 by

Price Reduced in Palm Cove Golf and Yacht Club

This is a short sale and we have a previous lender approval.  A quick closing is a strong possibility.  Please call Gabe Sanders for details.

Absolutely fantastic opportunity for the buyer with a vision and desire to live in the prestigious Palm Cove Golf and Yacht Club community.  This spacious pool home located at 209 SW Hatteras Court has now been reduced to  $545,000

Palm Cove Golf and Yacht Club Custom Home

Spacious Home in Palm Cove with over 3600 sq. ft. of living area.

 Palm Cove Golf and Yacht Club Custom Home

Live the good life in Palm Cove. Community marina, non-equity golf & river front clubhouse. Outstanding custom home, built by McNamara, updated by current owner. Innovative design & attention to detail will captivate you. Large entry hall, formal dining room, wood-paneled office/4th bedroom, bath. Open living room w/ wet bar, fireplace, hardwood floors, tray ceiling, recessed lights. French doors to screened pool. covered lanai. Gourmet kitchen w/ stainless appliances, marble counters, pantry, center island. Two guest suites with baths.Over sized master includes large sitting area, tray ceiling, two walk in closets. Elegant marble master bath, double vanities. New roof, gutters, AC. Come and see this very special Palm Cove Golf and Yacht Club home.

Palm Cove Golf and Yacht Club Custom Home

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Price Reduced in Palm Cove Golf and Yacht Club

 

Sewalls Point Residential Market Report September 2013

10.13.13 by

Sewalls Point Residential Market Report September 2013

Sewalls Point Real Estate Snapshot, Residential Sales for September 2013

 

There are currently 49 active listings (an increase of 3 homes for sale from August)

Sewalls Point Residential Market Snapshot for Sept 2013

7 Residential sales are pending and awaiting close or lender approval (Up 1 from last month)Sewalls Point Residential Market Snapshot for Sept 2013

 

2 Homes sold in August (A decrease of 5 homes from August)Sewalls Point Residential Market Snapshot for Sept 2013

 

The Sewalls Point residential real estate market is having a slow summer.   For September 2013 sales were down significantly as only 2 homes sold.  Pending sales were up by 1 home, though still not a very high number.  We are into the slower months of our real estate market and there is also a lot of unease with the current economy, so we will hope for an increase in activity soon.  Though it may not happen till after the holidays.

The absorption rate jumped dramatically to 24.5 months.  Once again into a buyers market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to September of 2012, the inventory was 50 homes on the market, 20 pending sales and there were 3 closed sales.  The biggest difference from last year is the much lower pending inventory in 2013.  Not a good sign for sales in the immediate future.Sewalls Point Residential Market Snapshot for Sept 2013

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:

 

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Sewalls Point, FL Real Estate

 

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Sewalls Point Market Report – Residential, September 2013

 

River Vista Condo Open House Oct 13

10.12.13 by

River Vista Condo Open House Oct 13

Join us in Jensen Beach at the River Vista Condos on Oct 13 from 1 to 4 PM at 1950 NE Indian River Drive, Unit 203 in Jensen Beach, FL  for an open house.

River Vista Condo in Jensen Beach 

Discover this rare opportunity to own at River Vista in Jensen Beach.  Recently updated 2/2 with split floor plan, room for a washer and dryer in unit. Community offers pool, laundry room, elevator and is within walking distance of public boat launch, sailing center, Indian Riverside Park and Children’s Museum.  Ready for immediate occupancy.

River Vista Condo in Jensen Beach

River Vista Condo in Jensen Beach

 River Vista Condo in Jensen Beach

 

View more information about this wonderful home!

 

 

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River Vista Condo Open House Oct 13

October 2013 Market Update Admiralty Condos Palm City FL

10.11.13 by

October 2013 Market Update Admiralty Condos Palm City FL

As of October 2013, there is only 1 condo on the market in the Admiralty Condos.   This condo is listed for $715,000 which equates to $250 per square foot of living area.

There are two condos under contract and awaiting settlement.  The listing prices are $$439,000 and $699,000 which equates to an average of $240.32 per sq. ft. of living area.

In the past 12 months, 5 Admiralty condos have sold.  Sales prices ranged from $405,000 to $675,000 for an average sales price of $220.75 per sq. ft. and a 94% list to sales ratio.  None of the above listings or sales were short sales or foreclosures.

 the Admiralty in Palm City FL

 
The Admiralty Condos are situated directly by the beautiful Saint Lucie River are an ocean lover’s haven.  Located in desirable Palm City, The Admiralty features large balconies facing the pristine waters of the saint Lucie River with perfect sunrise views.  The varieties of 3 and 4 bedroom floor plans come with amenities such as 2 full car garages and additional storage space.
 
the Admiralty in Palm City FL
 
With safety and security in mind, the community is gated and the luxurious and spacious condo’s come equipped with hurricane windows and doors along with a 22 slip protected marina for the residents use. Enjoy the heated pool, clubhouse, meeting room, and exercise room.
the Admiralty in Palm City FL
 
Current Condo association fees in the Admiralty range from the $700 to under $900 dollars per month depending on the unit size.  There are five buildings which make up the Admiralty condo complex in Palm City, Florida.  Three of which were built in 1989-1990.  The two newer buildings were completed in 2005.  These condos offer unparalleled luxury and spaciousness for the price.  Equivalent condos on the Ocean with these amenities are either non-existent or will cost well over $1 million dollars.
 
the Admiralty in Palm City FL
 
The Admiralty is close to fantastic schools such as Martin County High School, Hidden Oaks Middle School, and Bessey Creek Elementary. There are also plenty of restaurants and entertainment areas in and around this wonderful area!

 

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Admiralty Condos Homes for Sale in Palm City Florida

 

 

October 2013 Market Update Admiralty Condos Palm City FL 

October 2013 Market Update Stuart West Palm City

10.10.13 by

October 2013 Market Update Stuart West Palm City

There are currently 6 homes for sale in Stuart West.  List prices range from $469,900 to 659,000 with an average asking price of $150.97 per sq. ft. of living area.  None of the current listings are short sales or bank owned properties.

1 Home is under contract and awaiting sale.  The listed price was $499,900 for an average of $131.14 per sq. ft. of living area.   This is a bank owned foreclosure.

In the past 12 months, 11 homes have sold in the Stuart West.  Sale prices ranged from $210,000 to $850,000 and the average sale price per sq. ft. of living area was $127.90.  3 of these sales were short sales and 1 was a bank owned property.

 Stuart West in Palm City FL

Stuart West is an upscale gated equestrian community located adjacent to the Stuart West and the Fox Club in western Palm City.  Just off the I-95 exit, Stuart West is an easy commute for those who work either south or north of Martin County, yet want to enjoy the superior amenities that Palm City has to offer.

Stuart West in Palm City FL

Stuart West resides on over 1,000 acres of pristine land with 249 home sites ranging from 2 to over 10 acres.  There is over 11 miles of waterways located throughout the community which makes for an idyllic setting for this family friendly equestrian community.

Stuart West in Palm City FL

Community amenities include a playground, community boat ramp to the C-23 canal, a 10 acre equestrian center, 24 hour manned security gate (shared with Cobblestone) and security patrols, and an underground cable and routing system for the best high end internet connectivity.  All of this in Martin County’s ‘A’ rated school system.  And school bus service is provided inside the community.

Stuart West in Palm City FL

Currently, Stuart West’s children attend Citrus Grove Elementary, Hidden Oaks Middle and South Fork High Schools.

Home construction started in Stuart West in 1984 and continues to this day with approximately 52 vacant lots yet to be built upon.  Though many of these lots are being kept as pastures by the adjacent homeowners.   Home sizes range from 3 Bedroom, 2 Bath homes of around 2,000 sq. ft. of living area all the way to 7 Bedroom, 5 Bathroom estates with over 5,500 sq. ft. under air.  The HOA fee is a very reasonable $121 per month which covers security and all the amenities this wonderful community has to offer.

Stuart West in Palm City FL

More information about Stuart West can be found on their property owners’ website here.

 

Stuart West Homes for Sale

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Vacant Land for Sale in Stuart West

October 2013 Market Update Stuart West Palm City

Martin County Florida Condo Market Report for August 2013

10.09.13 by

Martin County Florida Condo Market Report for August 2013

 

Commentary:

The Martin County Florida Condo Market for August 2013 showed better numbers than in previous years on a year to year comparison.  Still a bit slower than we would like.  Inventory decreased to 511 units (after a nice little jump last month).  It was back in 2005 when we had steady inventory levels below 600 units.  The median sales price decreased in August indicating the mix of sales has once again shifted to the less expensive mainland condos, though still above last year’s value significantly.  Much of the median price results are driven by the mix of units selling.  We had a good number of higher end waterfront condos sell in previous months.  And, while prices are not declining any more in the overall market, they also are not making any large increases at this time.  Prices remain very sensitive to the community and the available competition.

The one month absorption rate increased to 9.46 months from last months 8.92 months, while the three-month average is now at 8.5 months.  We’ve slipped back into a buyers market for martin County condos.  Generally an absorption rate of 6 or 7 months is considered a balanced market.

Higher interest rates remain troubling for the market in general, but is not as strong an issue for our condo market as we have a fairly high percentage of cash buyers.  If the economy continues it’s improvement, I expect another good season for the condo market in Martin County for the upcoming year.

Click on the charts for a larger view:Martin County Condo Market Report August 2013

 

  Martin County Condo Market Report August 2013

 The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.Martin County Condo Market Report August 2013

Martin County Condo Market Report August 2013

 

Data compiled from the Realtor Association of Martin County

Martin County Florida Condo Market Report for August 2013

the Gabe Sanders real estate team

Condo Homes, Condos and Land
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Martin County Florida Residential Market Report for August 2013

10.08.13 by

Martin County Florida Residential Market Report for August 2013

 

Commentary:

The Martin County Florida Residential Market for August 2013 continues to produce better results as compared to recent years.   For July 2013, the inventory dropped below 1,000 homes for the first time since August of 2005, but we are now back to just over 1,000 homes on the market.   If prices begin to rise with any significance in the broad market (they are already rising in certain segments), I expect the inventory to increase as more potential sellers that have been on the sidelines will enter the market.

Both median and average sales prices declined in August from last month, but are still improved year to year.  The one month absorption rate for August 2013 decreased to 5.1 months (from 5.3 months in June), and the three-month average is 5 months.  A 6 month absorption rate is considered to be a balanced market, so we continue to be in a sellers market in Martin County.  Considering the fact that we have entered our slower season, we continue to have better activity as compared to previous years.

We’ve had a very good run in the market to date this year.  There are a few storm clouds on the horizon, though.  Mainly higher interest rates and a very uncertain economy along with questionable activities coming from our legislators in Washington D.C.

Please feel free to contact us if you have any difficulty interpreting these charts.

  Clicking on the chart will produce a larger view.Martin County Residential Market Report August 2013

 

 

The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.Martin County Residential Market Report August 2013

Martin County Residential Market Report August 2013Martin County Residential Market Report August 2013

 

 

Data compiled from the Realtor Association of Martin County

Martin County Florida Residential Market Report for August 2013

the Gabe Sanders real estate team

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information about Florida’s Treasure Coast Real Estate, visit us at:

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August 2013 Monthly Market Detail St Lucie County Townhouses and Condos

10.07.13 by

August 2013 Monthly Market Detail St Lucie County Townhouses and Condos

The August 2013 Monthly Market Detail St Lucie County Townhouses and Condos as reported by Florida Realtors showed  some mixed results for this month.   Year to year closed sales were down by 4% (was up by 8.9% in July) while new sales under contract (new pending sales) increased by 4.9% (was 29.9% in July

Prices continued to rise, year to year, with the median sales price up by an impressive 69.4% (up 62.6% in July) and the average sales price rose by 38.2% (was up by 20% in July).

The inventory of available townhouses and condos rose by 3 from last month to 804 units which is a decrease of 19.8% from last August.  Current supply of inventory is now 7.9 months (a 28.9% decrease from last year).   While not as strong a sector as the single family market, there have been some very impressive price gains in the townhouse and condo market for Saint Lucie County.  This is still a buyers market for now, so there are plenty of good opportunities for those shopping for a townhome or condo.

Please see the entire Saint Lucie County townhome and condo market detail by clicking the links below:Saint Lucie County Townhome and Condo

 

 

 

Click here to view or download the full report:
August 2013 Monthly Market Detail St Lucie County Townhouses and Condos

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.

August 2013 Monthly Market Detail St Lucie County Townhouses and Condos

August 2013 Monthly Market Detail St Lucie County Single Family Homes

10.06.13 by

August 2013 Monthly Market Detail St Lucie County Single Family Homes

The August 2013 Monthly Market Detail St Lucie County Single Family Homes as reported by Florida Realtors continues the positive trend that has been apparent all this year, though at a more moderate rate for August.   Closed sales were up by 3.5%  (in July they were up by 4.3%)  and new sales under contract (new pending sales) increased by 17.8% (they were up by 55.6% last month).

Both median and average sales prices were up (year to year) by 12.7% and 9.2% respectively. 

The inventory of active listings declined in August to 1841 homes, down by 31.3% from last year.  Current supply of inventory is only 4.3 months (a 31.3% decrease from last year) and unchanged from July.  For August 2013 this remains a strong sellers market in the St Lucie County area.  Lower inventory typically results in lower sales volume as there just isn’t enough homes available for sale.  This will also result in strong upward pressure on prices and at some point renewed activity in new construction.  If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I  expect to see continued increases in inventory.

Saint Lucie County Single Family

Please click on the links below to read the full Saint Lucie County single family market detail:

 

 

Click here to view or download the full report:
August 2013 Monthly Market Detail St Lucie County Single Family Homes

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.

August 2013 Monthly Market Detail St Lucie County Single Family Homes

Palm Cove Golf and Yacht Club Open House Oct 6

10.05.13 by

Palm Cove Golf and Yacht Club Open House Oct 6

Come and join us in this Palm Cove Golf and Yacht Club custom pool home in this prestigious Palm City, Florida Golf and Yachting community.  The open house will be on Sunday, Oct 6 from 1 to 4 PM.

This Palm Cove Golf and Yacht Club Custom Home at 209 SW Hatteras Court is listed for $555,000.  Ask about our special offer valid during this open house.  Available only during the open house for those that attend.

Spacious Home in Palm Cove with over 3600 sq. ft. of living area.

Live the good life in Palm Cove. Community marina, non-equity golf & river front clubhouse. Outstanding custom home built by McNamara, updated by current owner. Innovative design & attention to detail will captivate you. Large entry hall, formal dining room, wood paneled office/4th bdrm, bath. Open living room w/ wet bar, fireplace, hardwood floors, tray ceiling, recessed lights. French doors to screened pool. covered lanai. Gourmet kitchen w/ stainless appliances, marble counters, pantry, center island. Two guest suites with baths.Over sized master includes large sitting area, tray ceiling, two walk in closets. Elegant marble master bath, double vanities. New roof, gutters, AC. Come and see this very special Palm Cove Golf and Yacht Club home.

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Palm Cove Golf and Yacht Club Open House Oct 6

Rocky Point Open House Oct 6

10.04.13 by

Rocky Point Open House Oct 6

Join us on Sunday, October 6 from 1 to 4 PM at 5695 SE Matousek St. in Rocky Point, Stuart, FL for an open house.  Get a first hand look at this totally remodeled home with easy access to fishing and boating just off the Saint Lucie Inlet.

Marina of Rocky Point Estates

An amazing opportunity in Rocky Point Estates.  This two story Key West style pool homes has seen a total makeover in the past few years.  The second floor is a spacious 2 BR, 1 BA, space with a full country kitchen, living and dining areas and laundry room. There’s a 360 degree covered wrap around porch to enjoy the cool ocean breezes year round.  Floors are Dade County Pine.  The living room has a Vermont Casting wood stove for those rare winter days when a little warmth may be required.  A newer 30 year metal roof (2005). The attic, trusses, decks and staircase are all Cypress (which is no longer available for home construction).  This structure is supported by reinforced poured concrete.

Exterior of Rocky Point Pool Home

The CBS first floor has been recently updated.  Boasting a great room concept with 1 BR and 1 Bath and new kitchen with granite counters and stainless appliances.  Spacious bathroom with Carrera marble.  Perfect for the extended family needing two living spaces or a possible income producing apartment. Only steps away from the Rocky Point Estates marina and boat ramp. As of this writing docks are available for sale or lease. Please call for an extensive list of features and updates for this home.   

Living area of Rocky Point Pool Home

Living area of Rocky Point Pool Home

There’s a gas heated pool and spa on the perfectly manicured grounds.  Two driveways.  Backup generator that will power both levels.  Security system. Attached car port that can easily be enclosed to a garage.

Apartment Kitchen in Rocky Point Pool Home

Rocky Point Estates is a boating community with a marina and boat ramp that is only minutes from the crystal clear waters of the Atlantic.  A mecca for fisherman from the world over.  There’s also a large picnic area with a covered portico as well as fishing piers with cleaning stations.  All only steps from this home.  Docks are available to purchase and lease for only the residents and members of the Rocky Point Estates Homeowners Association.  HOA fees are a minimal $75.00 per year.

Pool of Rocky Point Pool Home

Boat Ramp of Rocky Point Estates

 

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Rocky Point Open House Oct 6

August 2013 Monthly Market Detail Martin County Townhouses and Condos

10.03.13 by

August 2013 Monthly Market Detail Martin County Townhouses and Condos

The August 2013 Monthly Market Detail Martin County Townhouses and Condos continues to show positive year to year results.  Though the gains for August are not quite as dynamic as they have been in the earlier months of 2013.   Year to year closed sales were up by 1.3% ( down by 20.8% in July) while new sales under contract (new pending sales) increased by 4.9% (was 65.6% in July).

The median sales price increased by 16.3% (was up by 20.7% in July) while the average sales price rose by 13.4% (was up 10.2% in July) as compared to August of 2012.

The inventory of available townhouses and condos have decreased to 534 units which is a decrease of 34.1% from last August.  Current supply of inventory is only 5.4 months (a 43.5% decrease from last year).  For the Martin County townhouse and condo market we are now in a seller’s market.  This will put significant pressure into possible rising values as long as a seller’s market persists.Martin County Townhome Condo

 

 

 

Click here to view or download the full report:
August 2013 Monthly Market Detail Martin County Townhouses and Condos

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.

August 2013 Monthly Market Detail Martin County Townhouses and Condos