Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for May 2011

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for May 2011

For May, 2011 in the 34997 Zip Code area of Stuart, Florida :

 

There are currently 111 active condo listings (down 13 from last month).

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30 Condo sales are pending and awaiting close or lender approval (up 7 from April).

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8 Condos Sold in April (down 1 units from last month).

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Condo Sales in the 34997 area of Stuart Florida were down by just one sale while inventory continues to shrink and pending sales also rose.  While mostly a positive sign, this also shows that a large number of pending sales are distressed properties, which have a large negative effect on pricing.  Overall the trend is fairly positive, especially when compared to other segments of the martin County real estate market.

 

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for May 2011


Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for May 2011

Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for May 2011

For May, 2011 in the 34997 Zip Code area of Stuart, Florida :

There are currently 548 active listings (down 12 from April).

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173 Residential sales are pending and awaiting close or lender approval (down 22 from last month).

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53 Homes Sold in April (down 2 from April)

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For zip code 34997 in Stuart Florida, May sales decreased slightly, also pending sales were off.  The inventory continues to decline.  We’re seeing some very mixed signals this month from the housing market.  It appears that most are very concerned about the economy and employment figures.

Search here for Stuart Florida Real Estate for Sale

Market Report: Stuart Point, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for May 2011

Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34994, Condo Sales for May 2011

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34994, Condo Sales for May 2011

For May, 2011 in the 34994 Zip Code area of Stuart, Florida :


There are currently 154 active condo listings (up 6 from last month).

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36 Condo sales are pending and awaiting close or lender approval. (a decrease of 3 from April)

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13 Condos Sold in May (down 13 units from last month).

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A disappointing month for the 34994 zip code portion of Stuart Florida for condo sales.  Inventory rose for the second month in a row.  Both closed and pending sales were also off.  Unfortunately not a good sign for the health of this segment of the market.

Search here for Stuart Florida Real Estate for Sale ( Condos)

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34994, Condo Sales for May 2011

 

Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

 

 

Condominium Market Report for May 2011 in Martin County, Florida

Condominium Market Report for May 2011 in Martin County, Florida

The Martin County  market activity in the condo real estate segment of the market remains fairly positive as to numbers.  Sales were just about unchanged from last year (up 1 unit), which was artificially inflated by the governments’ first time buyers assistance program.  Inventory levels dropped again and continues a positive trend.  Less inventory means less supply.  If demand picks up at all in the near future, this will signal the start of rising prices.  Unfortunately, at present, prices are still falling, though not nearly as severely as in the past few years.  One month absorption rate is at 12 months, a good improvement from last years 15 months.

To view these graphs in expanded mode just click anywhere in the chart.  Click again to close.

Martin County Condominium Statistics

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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.

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condo price trend

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See the full set of charts at Treasure Coast FL Homes

Condominium Market Report for May 2011 in Martin County, Florida

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:

Stuart Florida Real Estate or Treasure Coast FL Homes

Residential Market Report for May 2011 in Martin County, Florida

Residential Market Report for May 2011 in Martin County, Florida

 

The May results for the Martin County residential real estate market show fairly strong results with a continuing decrease in inventory and sales that almost match last years results without the benefit of the government first time buyers assistance program.  The one month (non averaged) absorption rate is below 10 months which is better than in the past 4 years.  We would like to see an absorption rate in the 5 to 7 month range which is an indicator of a balanced market. Median prices are significantly lower than last year.  Average sales price a little less off.  The average price trend line showed a drop in May after a few months of increases.  Summer is now here, ant typically market activity slows a bit as the seasonal buyers have gone north for the summer.

Click on the individual charts to see charts in expanded mode.

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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.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

 

Residential Market Report for May 2010 in Martin County, Florida

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:

Stuart Florida Real Estate or Treasure Coast FL Homes