Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Residential Sales for August 2011

For August 2011 in the 33455 Zip Code area of Hobe Sound, Florida :
(August data is compared to June since there was a problem compiling July data)

There are currently 342 active listings. ( down 36 from June)

54 Residential sales are pending and awaiting close or lender approval (Down 18 from June)

30 Homes Sold in August (An decrease of 8 from June and the same for July – 30 homes sold)

Inventory levels for the Hobe Sound real estate market continue to decrease and are coming close to pre-bubble levels.  Unfortunately, both sales and pending sales are off slightly.  With the latest poor economic news as well as a seeming political deadlock in Washington, consumer confidence has once again dropped and we are seeing a marked decrease in sales in the mid to upper range in the Martin County real estate market.

Not many foreclosure sales of any significance have come on the market. Short sales continue to be numerous but for the most part, the lenders are cooperating much more aggressively and they seem to be closing quicker and with greater frequency.

With any uptick in the economic news, there should be a pretty good run on residential real estate as there is some pent-up demand with homes being at historically affordable levels.  If this demand is not met with increasing inventory levels, prices should remain steady and could rise a little for the most attractive properties.