Martin County Florida Residential Market Report for July 2013

Commentary:

The Martin County Florida Residential Market for July 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 July of 2005. Hopefully, this is only a seasonal reaction to the market as we approach the slower selling season in this area of Florida. Should inventory levels remain this low, sales numbers will decline as buyers will have difficulty finding suitable housing. New home sales are one relief to this inventory issue and we currently have a number of builders and communities with new home offerings.

Both median and average sales prices declined in July from last month, but are still improved year to year. The one month absorption rate for July 2013 increased to 5.3 months (from 4.72 months in June), and the three-month average is 4.91 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. It’s not unusual to see slower activity as we go into fall and the holiday season.

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. Recent issues with the quality of our rivers as well as rising flood insurance rates are also impacting our higher end sales in the county.

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

Clicking on the chart will produce a larger view.

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.

Data compiled from the Realtor Association of Martin County

Martin County Florida Residential Market Report for July 2013

the Gabe Sanders real estate team

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

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August 2013 Market Update for Castle Hill Sewalls Point

08.26.13 by Gabe Sanders

August 2013 Market Update for Castle Hill Sewalls Point

There are currently two homes for sale in Castle Hill. The listing prices are $1,325,000 and 2,800,000. This averages to $489.40 per sq. ft. of living area.

There are currently no homes under contract, pending a sale.

In the past 12 months, there have ben six sales in Castle Hill. One of these sales was a bank owned foreclosure. Sales prices ranged from $485,000 to $2,600,000. The average sales price per square foot of living area was $242.77 at a 94% list to sales ratio.

Castle Hill is an exclusive enclave of 46 homes and lots in prestigious Sewall’s Point in Stuart Florida.

This community sits in an unparalleled location only minutes from beaches and equidistant from both the Jensen Beach and Stuart causeways. Close to marinas and launch facilities as well as shopping, restaurants and schools.

Residents of Castle Hill enjoy the good life with low HOA fees and a quiet family friendly neighborhood for year round Florida living. Homes range from multi million waterfront properties high on the deep Saint Lucie River to half acre and larger dry home fronts with homes now starting in the high $400,000’s.

Castle Hill was established in the early 1990’s and remains one of the prime locations to call home on the Treasure Coast.

Here are the currently available homes for sale in Castle Hill

August 2013 Market Update for Castle Hill Sewalls Point

August 2013 Market Update for Martins Crossing

08.25.13 by Gabe Sanders

August 2013 Market Update for Martins Crossing

There are currently 7 homes for sale in Martins Crossing. 4 townhomes (priced from $121,500 to $169,000) and 3 single family homes priced from $199,000 to $289,000. The average price per square foot of living area is $102.80. Of these, one townhome is a short sale and two townhomes are bank owned.

There are nine homes under contract. 3 townhomes and 6 single family. Listing prices ranged from $109,000 to $289,000. This equates to an average of $93.78 per square foot of living area.

In the past twelve months, 49 homes have sold in Martins Crossing. 14 townhomes (sales prices ranged from $97,00 to $154,900) while the 35 homes had prices ranging from 130,000 to $270,000. The overall sales price per square foot was $89.46 at an average list to sales ratio of 96%. There were 13 short sales and 9 foreclosures in these sales.

The number of foreclosures and short sales has drastically declined in Martins Crossing and prices have risen significantly in the past 6 months.

Located in the intimate, yet vibrant, city of Stuart near a variety of fine restaurants, cultural outlets and shopping. August 2013 Market Update for Martins Crossing, boasts of 596 residences with a stunning variety of single family homes and a section of private town homes. This family friendly community was completed around 2006 with mostly newer homes.

August 2013 Market Update for Martins Crossing community amenities include lush landscaping and with private preserve views, The Martins Crossing Clubhouse has a sparkling resort style pool, and over sized deck, tennis courts and a playful tot lot all nearby.

August 2013 Market Update for Martins Crossing is conveniently located by Kanner Hwy. and Pomeroy Street for easy access to Historic Downtown Stuart, the beaches and waterways of Martin County, restaurants, shopping and quick access to I-95. All this in a wonderful ‘A’ rated school system.

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August 2013 Market Update for Martins Crossing

Hobe Sound Florida Market Report ZIP Code 33455 Condo, July 2013

08.23.13 by Gabe Sanders

Hobe Sound Florida Market Report ZIP Code 33455 Condo, July 2013

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for July 2013

For July 2013 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 16 active condo listings. (Down by 3 condos from June)

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

5 Condos sold in July (Increased by 5 condos from June)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. Sales increased to 5 units from 0 sales in July. Pending sales were off slightly while the inventory is shrinking to very, very small numbers.

The absorption rate for July is 3.2 months. A very strong sellers advantage for those in the Hobe Sound condo market.. Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.

The July 2012 numbers were: 28 active listings, 7 pending sales and 3 closed sales. Strong activity when compared to last year.

Please use the charts below as reference only as they rely on all residential types of property in the 33455 real estate market:

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Hobe Sound Florida Market Report ZIP Code 33455 Condo, July 2013

Hobe Sound Florida Market Report ZIP Code 33455 Residential, July 2013

08.22.13 by Gabe Sanders

Hobe Sound Florida Market Report ZIP Code 33455 Residential, July 2013

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for July 2013

For July 2013 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 238 active listings. ( Down by 10 homes from June)

96 Residential sales are pending and awaiting close (A decrease of 11 homes from June)

42 Homes Sold in July (Up by 5 homes from last month)

Closed sales were up for the Hobe Sound Florida Market Report ZIP Code 33455 section of Martin County. After an increase of inventory in June, we’re back to lower numbers for July. Pending sales were also off slightly.

The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 decreased to 5.7 months. Back to a slight sellers market again. An absorption rate of 6 months is considered to be a balanced market favoring neither the buyer or seller.

The numbers for July 2012 were: 279 active listings, 77 pending sales and 31 closed sales. Much better activity year to year for the Hobe Sound residential real estate market.

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

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Hobe Sound Florida Market Report ZIP Code 33455 Residential, July 2013

Price Reduced Key West Style Rocky Point Home

08.21.13 by Gabe Sanders

Price Reduced Key West Style Rocky Point Home

The price of this home located at 5695 SE Matousek St. in Rocky Point, Stuart, FL has been reduced to $369,900. Come and take a look at this totally remodeled home with easy access to fishing and boating just off the Saint Lucie Inlet.

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.

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

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.

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.

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Price Reduced Key West Style Rocky Point Home

Jensen Beach Florida Market Report ZIP Code 34957 Condo July 2013

08.21.13 by Gabe Sanders

Jensen Beach Florida Market Report ZIP Code 34957 Condo July 2013

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for July 2013

For July 2013 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :

There are currently 31 active listings. ( No change from June)

19 Condo sales are pending and awaiting close or lender approval. (Down by 5 condos from June)

9 Condos Sold (An increase of 2 condos from June)

The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market. Current inventory is at an all time low (though unchanged from June). Pending sales were off slightly (not unexpected as the inventory is so low) while sales were up by two units.

The one month absorption rate for the July 2013, Jensen Beach Florida Market Report ZIP Code 34957 dropped to 3.4 months, signifying a shift to a strong sellers market. A balanced market is considered to be a 6 month absorption rate favoring neither the buyer or seller.

The July 2012 numbers were: 54 active listings, 23 pending sales and 5 condos closed. Even with considerably less available condos, 3013 activity continues to outperform 2012.

Please use the charts below as reference only as they rely on all residential types of property in the 34957 real estate market:

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Jensen Beach Florida Market Report ZIP Code 34957 Condo July 2013

Jensen Beach Florida Market Report ZIP Code 34957 Residential July 2013

08.20.13 by Gabe Sanders

Jensen Beach Florida Market Report ZIP Code 34957 Residential July 2013

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for July 2013

For July 2013in the 34957 Zip Code area of Jensen Beach, Florida :

There are currently 122 active listings. (An increase of 10 homes from last month)

72 Residential sales are pending and awaiting close or lender approval. (Down 3 home from June)

24 Homes Sold (Down by 7 homes from June)

The Jensen Beach residential real estate market, zip code 34957 eased a bit in July after an exceptionally good Spring and early Summer. Both pending and closed sales were off and the inventory rose.

The current absorption rate for the Jensen Beach Florida Market Report ZIP Code 34957 increased to 5.1 months. Which is still a seller’s market. A 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.

The July 2012 numbers were: 113 active listings, 94 pending sales and 22 home sales closed. One of the few Martin County areas where inventory is greater this year than last. Also, fairly similar closed sales while a lower number of pending sales as compared to last year.

Please use the charts below as reference only as they rely on all residential types of property in the 34957 real estate market:

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Jensen Beach Florida Market Report ZIP Code 34957 Residential July 2013

Palm Cove Golf and Yacht Club Estate Home Under Contract

08.19.13 by Gabe Sanders

Palm Cove Golf and Yacht Club Estate Home Under Contract

Spacious Palm Cove Golf and Yacht Club Estate Home is now under contract. Thanks to the many agents that have shown this home. Hoping for successful negotiations and a little buyer patience as this is a short sale.

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 Estate Home Under Contract

Palm City Florida Market Report ZIP Code 34990 Condo July 2013

08.19.13 by Gabe Sanders

Palm City Florida Market Report ZIP Code 34990 Condo July 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for July 2013

For July 2013 in the 34990 Zip Code area of Palm City, Florida :

There are currently 54 active condo listings. (Down by 4 condos from June)

9 Condo sales are pending and awaiting close or lender approval. (Decreased by 5 condos from last month)

6 Condos Sold in July. (Down 2 condos from June)

The 34990 zip code area of Palm City condo market is a fairly small section of this area as most property in Palm City is either single family homes or town homes. Thus making meaningful market comparisons somewhat difficult as small changes can have a great effect on the percentages and results. Both pending and closed sales were off this month compared to June as well as another month with decreasing inventory.

The current absorption rate for condos in the 34990 zip code area rose to 8.3 months. Drifting back into a buyers market, as a balanced market is considered to be an absorption rate of around 6 months.

The July 2012 numbers were: 62 active listings, 7 pending sales and 1 closed sales. Even with the significantly lower number of active condo listings, this year’s activity is much better.

Please use the charts below as reference only as they rely on all residential types of property in the 34997 real estate market:

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Palm City Florida Market Report ZIP Code 34990 Condo July 2013

Palm City Florida Market Report ZIP Code 34990 Residential July 2013

08.18.13 by Gabe Sanders

Palm City Florida Market Report ZIP Code 34990 Residential July 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for July 2013

For July 2013 in the 34990 Zip Code area of Palm City Florida :

There are currently 360 active listings (A decrease of 22 homes from June)

153 Residential sales are pending and awaiting close or lender approval. (A decrease of 9 homes from last month)

70 Homes Sold in July (Increased by 1 home from June)

The Palm City, zip code 34990, area of Martin County Florida continues to have impressive market activity. But, the inventory is getting to levels that are starting to effect year to year numbers. For the month, sales were up by 1 home while the pending sales decreased by 9.

The current absorption rate remained steady at 5.5 months, which still indicates a slight sellers market. A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The July 2012 numbers were: 416 active listings, 169 pending sales and 63 closed sales. Closed sales outperformed last years volume, but pendings are now off slightly. I expect slower activity if the inventory continues to drop.

Please use the charts below as reference only as they rely on all residential types of property in the 34990 real estate market:

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Palm City, FL Real Estate

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Palm City Florida Market Report ZIP Code 34990 Residential July 2013

Stuart Florida Market Report ZIP Code 34997 Condo July 2013

08.17.13 by Gabe Sanders

Stuart Florida Market Report ZIP Code 34997 Condo July 2013

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for July 2013

For July 2013 in the 34997 Zip Code area of Stuart, Florida :

There are currently 80 active condo listings (An increase of 3 condos form June).

31 Condo sales are pending and awaiting close or lender approval (Down 1 condo from June).

12 Condos Sold in July (An increase of 4 condos from June).

A second slower month of activity for the Stuart condo market for the area in ZIP code 34997. Still, activity remains strong for the ‘off’ season for Florida. We need increased inventory for this market to get back to the fast pace we saw this spring.

The one month absorption rate dropped to 6.7 months. Very close to a balanced market. A 6 month absorption rate is typically considered to be a balanced market that favors neither the buyer nor the seller.

The July 2012 numbers were: 100 active listings, 28 pending sales and 13 closed sales. Similar activity as compared to last year. With a 20% lower inventory, these are good results.

Please use the charts below as reference only as they rely on all residential types of property in the 34997 real estate market:

Market Summary - Stuart Florida Market Report ZIP Code 34997 Condo July 2013

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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for July 2013

Stuart Florida Market Report ZIP Code 34997 Residential July 2013

08.16.13 by Gabe Sanders

Stuart Florida Market Report ZIP Code 34997 Residential July 2013

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

There are currently 331 active listings (A decrease of 1 home from June).

166 Residential sales are pending and awaiting close or lender approval (A decrease of 6 home from June).

62 Homes Sold in July (Down 6 homes from June)

Activity eased for the second month in a row for the Stuart Florida Market Report ZIP Code 34997. Inventory remained basically unchanged while both pending and closed sales saw decreases. This is still a sellers market for now, but if this trend continues we will probably see a more balanced market in the next few months.

The current one month absorption rate rose to 5.3 months which still indicates a sellers market ( though it’s up from last months 4.9 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: 330 active listings, 222 pending listings and 50 closed sales. Better closed activity this year, while pending sales are significantly lower. Unusually for this segment of the Stuart residential market, the inventory is similar to last year. (Most of our areas have reduced inventory this year as compared to last)

Please use the charts below as reference only as they rely on all residential types of property in the 34997 real estate market:

Market Summary - Stuart Florida Market Report ZIP Code 34997 Residential July 2013

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Stuart Florida Market Report ZIP Code 34997 Residential July 2013

Stuart Florida Market Report ZIP Code 34996 Condo July 2013

08.15.13 by Gabe Sanders

Stuart Florida Market Report ZIP Code 34996 Condo July 2013

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

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

There are currently 176 active condo listings (Down 8 from last month).

32 Condo sales are pending and awaiting close or lender approval (An increase of 1 condo from June).

16 Condos Sold in July (Down by 1 from June)

Fairly consistent activity for the Stuart Florida Market Report ZIP Code 34996 for Condos for July 2013. Both pending and closed sales remained steady with only a 1 unit increase and decrease respectively. Another decrease in inventory, which is pretty normal as many condo owners feel that the summer market is not the prime time to sell condos. Though, history has proven this to be quite wrong, as the decreased competition normally results in much greater showing activity and a better chance of a sale.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo rose slightly to 11 months. Still a fairly significant buyers market for July of 2013. A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for July 2012 were: 190 active listings, 17 pending sales and 12 closed sales. Still doing considerably better this year as compared to last.

Please use the charts below as reference only as they rely on all residential types of property in the 34996 real estate market:

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Stuart Florida Market Report ZIP Code 34996 Condo July 2013

Stuart Florida Market Report ZIP Code 34996 Residential July 2013

08.14.13 by Gabe Sanders

Stuart Florida Market Report ZIP Code 34996 Residential July 2013

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

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

There are currently 126 active listings (Decreased by 27 homes from June).

44 Residential sales are pending and awaiting close or lender approval (Increased by 2 homes from June).

15 Homes Sold in July (Decreased by 6 homes from June).

In the 34996 zip code area of Stuart Florida real estate market activity for July 2013 there was a large drop in inventory for July. Whether sellers are taking a break for the summer or waiting for prices to increase, only time will tell. Closed sales were off slightly in July while we did have a small rise in pending sales.

The one month absorption rate for the 34996 zip code area of Stuart Florida for July rose to 8.4 months, remaining a buyer’s market. This figure should be dropping as the pending sales close in the coming months. A balanced market, favoring neither buyer or seller is considered to be around a 6 month absorption rate.

The numbers for July of 2012 were: 166 active listings, 28 pending sales and 11 closed sales. Considerably better activity this year as compared to last, especially when considering the lower number of available homes for sale.

Please use the charts below as reference only as they rely on all residential types of property in the 34996 real estate market:

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Stuart Florida Market Report ZIP Code 34996 Residential July 2013

Plantation at Sewalls Point August 2013 Market Update

08.13.13 by Gabe Sanders

Plantation at Sewalls Point August 2013 Market Update

As of August 13, 2013 there is one spacious waterfront home listed in the Plantation at Sewalls Point. The list price is $5,850,000 which equals $1,132.62 per square foot of living area.

One home is currently under contract. It was listed for $979,000 (non-waterfront home) for a price per square foot of living area of $195.14.

In the past 12 months, 1 home has sold in the Plantation. It was listed at $950,000 and closed for $890,000 at $199.37 per square foot of living area. This was also a non-waterfront home. None of the listings in the Plantation were distressed sales.

The Plantation at Sewalls Point is an exclusive private community of only 21 home sites. There are 10 large estate sized waterfront lots with deep water docks and views of the Saint Lucie River some with magnificent waterfront views of the Saint Lucie River. 11 smaller non-waterfront home-sites on 1/2 to 1 acre sites. All homes were custom built by individual contractors/builders from 1994 to the early 2000’s.

Some of Martin County’s most elegant homes can be found in the Plantation at Sewalls Point. Conveniently located close to Indian Riverside Park, the United States Olympic Sailing Center, Deep Water marinas, restaurants, shopping and all of this within an ‘A’ rated school system.

The HOA fees depend on the size of the property and range from around $900 a quarter to $1,400. The Plantation at Sewalls Point is one of the most prestigious communities in Martin County and the Treasure Coast of FL.

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Plantation at Sewalls Point August 2013 Market Update

Stuart Florida Market Report ZIP Code 34994 Condo, July 2013

08.13.13 by Gabe Sanders

Stuart Florida Market Report ZIP Code 34994 Condo, July 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for July 2013

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

There are currently 109 active condo listings (Decreased by 3 condo from June).

53 Condo sales are pending and awaiting close or lender approval. (Up by 1 condo from last month)

11 Condos Sold in July (Decreased by 6 condos from June).

We’re in the off season for the Stuart Condo market for zip code 34994. Surprisingly pending sales increased by 1 condo while closed sales decreased by 6 units. The inventory decline continues, by three condos this month. It is a fairly seasonal condo market and we often see inventory declines in the summer months with an expected increase in late fall as the snowbird season begins.

The one month absorption rate rose to to 9.6 months, once again a buyers market. Typically a real estate market is considered to be a balanced market with an absorption rate of 6 months. Meaning neither the buyers or sellers have an advantage in the real estate market.

Last July the numbers were 153 active listings, 30 pending sales, and 17 closed sales. Closed sales were off a little as compared to last year, but inventory is off by more than 30%, yet the pending numbers are considerably better.

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

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Stuart Florida Market Report ZIP Code 34994 – Condo, July 2013

Stuart Florida Market Report ZIP Code 34994 Residential July 2013

08.12.13 by Gabe Sanders

Stuart Florida Market Report ZIP Code 34994 Residential July 2013

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

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

There are currently 55 active listings (Up 1 from June).

29 Residential sales are pending and awaiting close or lender approval (Down 7 homes from June).

15 Homes Sold in June (Increased by 4 homes from June)

Closed sales were up by 4 homes in the 34994 ZIP code area of the Stuart, Florida. Available homes for sale (Inventory) rose by 1 unit. Pending sales dropped (second month in a row). With such a low inventory of available homes plus the off season, we can expect a little slower activity in this market. If the overall economy continues to improve and prices continue to rise, I will be expecting rising inventories as well for the coming season.

The one month absorption rate for the 34994 zip code for July dropped further to 3.7 months. signifying a strong sellers market. A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage. If you are contemplating placing your home up for sale in the 34994 zip code area of Stuart, FL, now is a good time. Please call me for details of why this is so.

The July 2012 numbers were 62 Active Listings, 53 pending sales and 16 closed sales. We’re doing well as compared to last year. The largest drop this year is in pending sales as the number of short sales are slowly being closed and taken off the market. These short sales have been inflating the pending numbers for the past couple of years.

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

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Stuart Florida Market Report ZIP Code 34994 Residential July 2013

Sewalls Point Residential Market Report July 2013

08.11.13 by Gabe Sanders

Sewalls Point Residential Market Report July 2013

Sewalls Point Real Estate Snapshot, Residential Sales for July 2013

There are currently 47 active listings (a decrease of 5 homes for sale from June)

7 Residential sales are pending and awaiting close or lender approval (Down 3 from last month)

3 Homes sold in June (A decrease of 5 homes from June)

The Sewalls Point residential real estate market for July 2013 eased off from the strong gains made in the first half of 2013. The inventory is down again to only 47 homes available for sale and both future (pending) sales as well as closed sales showed decreases from last month. Slower activity during the summer months is not an unexpected event, as we need to look at the trends for the entire year to get a true picture of the local real estate market.

The absorption rate jumped to 15.7 months. A strong 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 July of 2012, the inventory was 56 homes on the market, 14 pending sales and there were 5 closed sales. Unfortunately, this year’s numbers are weaker than July 2012 results.

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 Market Report – Residential, July 2013

Islesworth in Palm City FL

08.10.13 by Gabe Sanders

Islesworth in 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.

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 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.

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.

Here are the currently available homes in Islesworth in Palm City FL

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

Palm City Florida Real Estate
Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

772-763-8506

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Islesworth in Palm City FL

Islesworth in Palm City FL

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