Stuart Florida Market Report ZIP Code 34996 Condo August 2013

09.17.13 by

Stuart Florida Market Report ZIP Code 34996 Condo August 2013

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

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

There are currently 178 active condo listings (Up 2 from last month).
Stuart Florida Market Report ZIP Code 34996 Condo August 2013

 

22 Condo sales are pending and awaiting close or lender approval (A decrease of 10 condos from July). Stuart Florida Market Report ZIP Code 34996 Condo August 2013

 

13 Condos Sold in August (Down by 3 from July)
Stuart Florida Market Report ZIP Code 34996 Condo August 2013

 

 

The Stuart Florida Market Report ZIP Code 34996 for Condos for August 2013 showed an reduced amount of activity from previous months.   Both pending and closed sales were off from July and the inventory remains fairly steady.  We are entering our slower season for condo sales and I would not be surprised to see reduced activity continue for the next few months.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo rose to 13.7 months from July’s 11.  Continuing as a strong buyers market for August of 2013.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for August 2012 were: 190 active listings, 19 pending sales and 12 closed sales.   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 August 2013

 

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

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Stuart Florida Market Report ZIP Code 34996 Condo August 2013

Stuart Florida Market Report ZIP Code 34996 Residential August 2013

09.16.13 by

Stuart Florida Market Report ZIP Code 34996 Residential August 2013

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

 

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

 

There are currently 125 active listings (Decreased by 1 home from July).
Stuart Florida Market Report ZIP Code 34996 Residential August 2013

 

 

26 Residential sales are pending and awaiting close or lender approval (Decreased by 18 homes from July).Stuart Florida Market Report ZIP Code 34996 Residential August 2013

 

 

25 Homes Sold in August (Increased by 10 homes from July).
Stuart Florida Market Report ZIP Code 34996 Residential August 2013

 

 

In the 34996 zip code area of Stuart Florida real estate market activity for August 2013 there was a nice jump in closed sales from July.  Unfortunately pending sales were off by a large number as well indicating possibly slower market activity for the coming months.  Not an unexpected possibility as we are approaching our ‘off’ season.  Inventory remains low and was basically unchanged from July.

The one month absorption rate for the 34996 zip code area of Stuart Florida for August dipped to 5 months as compared to July’s 8.4 months, indicating a sellers market for now.  A balanced market, favoring neither buyer or seller is considered to be around a 6 month absorption rate.

The numbers for August of 2012 were: 166 active listings, 34 pending sales and 6 closed sales.   Still 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 August 2013

 

Search here for Stuart Florida Real Estate for Sale


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Stuart Florida Market Report ZIP Code 34996 Residential August 2013

Stuart Florida Market Report ZIP Code 34994 Condo, August 2013

09.12.13 by

Stuart Florida Market Report ZIP Code 34994 Condo, August 2013

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

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

 

There are currently 1112 active condo listings (Increased by 3 condo from July).Stuart Florida Market Report ZIP Code 34994 Condo, August 2013

 

48 Condo sales are pending and awaiting close or lender approval. (Down by 5 condos from last month)
Stuart Florida Market Report ZIP Code 34994 Condo, August 2013

 

 

16 Condos Sold in August (Increased by 5 condos from July).Stuart Florida Market Report ZIP Code 34994 Condo, August 2013

 

For the summer season in the Stuart Condo market for zip code 34994 pending sales were off slightly from last month.   The inventory grew by 3 condos.  Sales increased by 5 condos.   This is considered the ‘off’ season for the Martin County condo market, so the increase in the number of sales is certainly a welcome number.

The one month absorption rate dipped to 7 months compared to last months 9.6.  Just about a balanced 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 August the numbers were 143 active listings, 43 pending sales, and 13 closed sales.   When the reduced inventory is accounted for, the real estate market for condos in the 34994 zip code area of Stuart is quite strong when compared to August of 2012.

 

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market:Stuart Florida Market Report ZIP Code 34994 Condo, August 2013

 

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

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

Stuart Florida Market Report ZIP Code 34994 Residential August 2013

09.11.13 by

Stuart Florida Market Report ZIP Code 34994 Residential August 2013

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

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

 

There are currently 59 active listings (Up 4 from July).Stuart Florida Market Report ZIP Code 34994 Residential August 2013

 

33 Residential sales are pending and awaiting close or lender approval (Up 4 homes from July).Stuart Florida Market Report ZIP Code 34994 Residential August 2013

 

 

8 Homes Sold in July (Decreased by 7 homes from July)Stuart Florida Market Report ZIP Code 34994 Residential August 2013

 

The 34994 ZIP code area of the Stuart, Florida had a decrease in closed (sold) sales for the month of August.  On a positive note, the inventory rose slightly (for the second month in a row), though the inventory of available homes is still very low and is one reason for the lower number of closed sales.  Pending sales did go up from July and this is a good sign for future closed sales.

The one month absorption rate for the 34994 zip code for August rose to 7.4 months from last months 3.7 months.  Back into a very slight buyers market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage. 

The August 2012 numbers were 58 Active Listings, 38 pending sales and 14 closed sales.   Unfortunately, for the 34994 zip code area of Stuart, FL the market was fractionally better last year as compared to August of 2013.

 

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market:Stuart Florida Market Report ZIP Code 34994 Residential August 2013

 

Search here for Stuart Florida Real Estate for Sale

 

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Stuart Florida Market Report ZIP Code 34994 Residential August 2013

Sewalls Point Residential Market Report August 2013

09.10.13 by

Sewalls Point Residential Market Report August 2013

Sewalls Point Real Estate Snapshot, Residential Sales for August 2013

 

There are currently 46 active listings (a decrease of 1 home for sale from July)Sewalls Point Residential Market Report August 2013

 

 6 Residential sales are pending and awaiting close or lender approval (Down 1 from last month)Sewalls Point Residential Market Report August 2013

 

7 Homes sold in July (An increase of 4 homes from July)

Sewalls Point Residential Market Report August 2013

A second slower month for the Sewalls Point residential real estate market.   For August 2013 sales were up from July, but both pending and active listings were off marginally.  This is most likely a reflection of the summer months with slower activity, which is typical for the Martin County FL real estate market.

The absorption rate declined to 6.6 months.  Just about a balanced market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to August of 2012, the inventory was 57 homes on the market, 16 pending sales and there were 3 closed sales.  The lower number of pending sales this year is a sign that for the imediate future, there may not be as many closed sales as in previous years, though this year we did do much better than last year.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:Sewalls Point Residential Market Report August 2013

 

Search here for Sewalls Point Florida Real Estate for Sale

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Sewalls Point Market Report – Residential, August 2013

 

Conquistador Market Update September 2013

09.08.13 by

Conquistador Market Update September 2013

Homes:  3 Active listings ranging in price from $230,000 to $269,300 at an average of $138.88 per sq. ft. of living area.

No homes are under contract at this time.

In the past 12 months, 5 homes have sold in Conquistador Estates with sales prices ranging from $179,000 to $285,000.  An average sales price of $119.47 per sq. ft. of living area at 92% list to sales ratio.  None of these sales were short sales or foreclosures.

Condos:  There are currently 14 condos for sale in Conquistador.  Listing prices range from $72,900 to $215,000.  The average is $92.50 per sq. ft. of living area.  One of these listings is a short sale.

2 Condos are under contract awaiting settlement.  List prices are $80,000 and $94,500 for an average of 80.04 per sq. ft. of living area.  The lower priced unit is a short sale.

In the past 12 months, 27 condos have sold in Conquistador.  Sales prices ranged from $22,500 to $125,000.  The average price per sq. ft. was $104.27 at an 88% list to sales ratio.  There were 3 foreclosures and no short sales in these sales.

Conquistador is the prime senior location in Stuart Florida.  Conquistador Market Update September 2013 are located on the shores of the wide Saint Lucie River and only minutes from the beaches of the Atlantic Ocean as well as being right next door to the Martin County Municipal Golf Course with easy access to shopping, restaurants, medical facilities.

Conquistador is a mix of single family homes (the estates section) and 3 story condominiums.  The condominiums have access to their own pool areas as well as barbecue areas or the main club house pool.

This is a very active senior community with an active clubhouse with fitness room, main ballroom, reading library and activities throughout the year.  Conquistador is not just a seasonal residence as many owners enjoy the benefits of year round living in fabulous Martin County with all the amenities that this jewel of the Treasure Coast has to offer.

Search for available Homes and Condos in Conquistador

 For any questions you may have about Conquistador Homes and Condos in Stuart, Florida, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

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Conquistador Market Update September 2013

Orchid Bay Palm City FL September 2013 Market Update

09.05.13 by

Orchid Bay Palm City FL September 2013 Market Update

There are currently 5 homes available to purchase in Orchid Bay.  List prices range from $385,000 to $439,000.  The average listing price per sq. ft. of living area is $144.98.  One of the available homes is a short sale.

Two homes are under contract and awaiting sales.  List prices are $429,900 and $438,500 for an average price of $157.95 per sq. ft. of living area.  One of these homes is a short sale.

In the past 12 months, 4 homes have sold in Orchid Bay.  Sales prices ranged from $385,000 to $615,000 for an average sold price of $157.89 per sq. ft. of living area.  None of these homes were short sales or foreclosures.

Orchid Bay Entrance 2

One of the most desirable communities in Palm City, Orchid Bay (also known as Captain’s Creek) lies just south of the new Palm City Veteran’s Memorial Bridge off of Mapp Road.  This gated community of 153 homesites (including only two vacant lots at this time) enjoys spacious private lots of at least a ½ acre with a few properties residing on over 1 acre sites.  This planned community was developed by the Tartan land Company in the early 1990’s and all homes are individually constructed by the lot owner’s builder of choice.  Consequently this is not a “cookie cutter” community by any means.

Orchid Bay Home 4

Homes range in size from over 5,000 sq. ft. of living area to just over 2,000.  From as many as 8 bedrooms down to 3 bedroom homes.  Both one and two story residences. Homes were built from 1992 through 2007.  Amenities include tennis courts, a picnic and playground area as well as a public gazebo.  Numerous lakes and ponds are on this property with many homes enjoying serene water views.  Orchid Bay has its own community propane tank so all residents have the option of hooking in for propane utilities if desired.

Orchid Bay Pool with Lake View

HOA fees at the time of this writing are $415 per quarter.   These fees include maintenance of the roads, trash pickup, common areas as well as basic cable TV service.

Orchid Bay Playground

Children of Orchid bay attend wonderful schools:  Palm City Elementary, Hidden Oaks Middle and Martin County High.

Orchid Bay Home 1

Search here for available Orchid Bay Homes for Sale

For any questions you may have about Orchid Bay, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

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Orchid Bay Palm City FL September 2013 Market Update

Rustic Hills Palm City FL September 2013 Market Update

09.04.13 by

Rustic Hills Palm City FL September 2013 Market Update

There are currently 4 homes available for sale in Rustic Hills.  Listing prices range from $259,900 to $399,900 for an average price per square foot of living area of $159.72.  There is one bank owned foreclosure in the listings.

There are no homes under contract awaiting sales at this time.

In the past 12 months, 10 Rustic Hills homes have sold.  Sales prices ranged from $150,000 to $530,000 for an average sales price of $130.65 per sq. ft. at a 94% list to sales price ratio.  These sales included 5 short sales.  (No foreclosures)

 

Covered Bridge, Rustic Hills, Palm City, Florida

Originally a popular fishing camp, Rustic Hills in Palm City, Florida is a quaint waterfront enclave of 178 home sites geared for families who also enjoy boating.All homes have canal frontage with dockage, except for 10 homes/lots, which have deeded spaces for docks.A wonderful entrance through the ‘covered bridge’ allows entry into Rustic Hills.Great families and good neighbors through a series of winding one lane roads that make this neighborhood unique in today’s fast paced life styles.Some homes still have the outward character of the old fishing camp lodges, but most have been completely remodeled or even re-built to today’s standards.

Rustic Hills, Palm City, Florida, Canals

Truly a ‘rustic’ area, but close to shopping, Palm City’s‘A’ rated schools, beaches and all modern amenities.Only a short ride by boat to the wide Saint Lucie River and an additional few minutes to the Saint Lucie Inlet and the beautiful Atlantic Ocean.

Rustic Hills, Palm City, Florida Homes for Sale

There are a number of exceptional opportunities for the prospective home buyer in Rustic Hills.


Search for currently available homes in Rustic Hills, Palm City, Florida


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South Fork Estates Market Update for September 2013

09.02.13 by

South Fork Estates Market Update for September 2013

There is currently only one home for sale in South Fork Estates.  The listing price is $348,500 which equates to $154.96 per sq. ft. of living area.

There are currently no homes under contract, pending a sale in South Fork Estates

In the past 12 months, there have been 8 sales in South Fork Estates.  Two of these homes were short sales..  Sales prices ranged from $215,000 to $370,000.  The average sales price per square foot of living area was $136.01 at a 96% list to sales ratio.

Aerial of South Fork Estates in Stuart FL
A unique private community in Stuart, Florida built before land was so expensive that homes had to be placed on top of each other.  All home in South Fork Estates are on 1/2 acre or larger lots, many with serene views of two large lakes located within this community.  Those homes not on the lakes have private preserve views of the Atlantic Ridge.  

Home in South Fork Estates in Stuart FL
There are 114 homes in South Fork Estates.  Homes were built from 1992 through as late as 2011.  The majority of the homes are in the 1998 through 2005 years.  Most homes are either 3 or 4 bedrooms with 2 and 3 car garages, ranging in size from around 2,000 sq. ft. of living area to over 3,500.  There are still a few residential lots that are vacant awaiting a home.

Lake in South Fork Estates in Stuart FL

This is a close-knit community with a playground as well as a boat and RV storage area.  Low Homeowners’ association fees of under $50 per month at the time of this writing.

Home in South Fork Estates in Stuart FL

Children living in South Fork Estates attend Crystal Lake Elementary, David L Anderson Middle and South Fork High Schools.  

Pool View from South Fork Estates in Stuart FL

Located just off Cove Rd. and Kanner Highways, this community is just minutes from I-95 for commuters.  Shopping and medical facilities are also close by.  And, there are numerous choices for boating access also only a short ride away.

South Fork Estates in Stuart FL - RV and Boat Lot

One of the hidden gems of the Stuart area, South Fork Estates id a great community to call home.

Here are the currently available homes for sale in South Fork Estates

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South Fork Estates Market Update for September 2013

July 2013 Monthly Market Detail St Lucie County Townhouses and Condos

09.02.13 by

July 2013 Monthly Market Detail St Lucie County Townhouses and Condos

The July 2013 Monthly Market Detail St Lucie County Townhouses and Condos as reported by Florida Realtors showed a is back on a positive track after showing a little weakness last month.   Year to year closed sales were up by 8.9% (was off by 17% in June) while new sales under contract (new pending sales) increased by 29.9% (was 9.4% in June

Prices continued to rise, year to year, with the median sales price up by an impressive 62.6% (up 11.8% in June) and the average sales price rose by 20% (was up by 11.8% in June).

The inventory of available townhouses and condos rose slightly from last month to 801 units which is a decrease of 25% from last July.  Current supply of inventory is now 7.8 months (a 35.8% decrease from last year).   While these results are not quite as strong as in the single family market, they still show strong gains from previous years.  It is just a matter of time before prices start rising a bit more dramatically.  This current environment is an excellent opportunity for buyers looking into the Saint Lucie County real estate market for townhouses and condos.

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

 July 2013 Monthly Market Detail St Lucie County Townhouses and Condos

 

 

Click here to view or download the full report:
July 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.

July 2013 Monthly Market Detail St Lucie County Townhouses and Condos

July 2013 Monthly Market Detail St Lucie County Single Family Homes

09.01.13 by

July 2013 Monthly Market Detail St Lucie County Single Family Homes

The July 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 July.   Closed sales were up by 4.3% which were down by 0.4% (in June they were down by .4%)  and new sales under contract (new pending sales) increased by 55.6% (they were up by 42.6% last month).

Both median and average sales prices were up (year to year) by 23.2% and 21.7% respectively. 

The inventory of active listings rose from last month, but is still down by 34.2% from last year.  Current supply of inventory is only 4.3 months (a 43.6% decrease from last year) and up slightly from 3.9 months from June.  For July 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.

Please click on the links below to read the full Saint Lucie County single family market detail:July 2013 Monthly Market Detail St Lucie County Single Family Homes

 

 

Click here to view or download the full report:
July 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.

July 2013 Monthly Market Detail St Lucie County Single Family Homes

July 2013 Monthly Market Detail Martin County Townhouses and Condos

08.31.13 by

July 2013 Monthly Market Detail Martin County Townhouses and Condos

The July 2013 Monthly Market Detail Martin County Townhouses and Condos continues to show positive year to year results.  We’ve had a very impressive run so far in 2013 with no signs of abatement.   Year to year closed sales were up by 20.8% ( down by 18% in June) while new sales under contract (new pending sales) increased by 65.6% (was 38.3% in June).

The median sales price increased by 20.7% (was up by 14.6% in June) while the average sales price rose by 10.2% (was up 25.3% in June) as compared to July of 2012.

The inventory of available townhouses and condos have decreased to 545 units which is a decrease of 31.5% from last July.  Current supply of inventory is only 5.5 months (a 41.4% 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 Townhouses and Condos Market Detail July 2013

 

Click here to view or download the full report:
July 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.

July 2013 Monthly Market Detail Martin County Townhouses and Condos

July 2013 Monthly Market Detail Martin County Single Family Homes

08.30.13 by

July 2013 Monthly Market Detail Martin County Single Family Homes

Another month of solid gains year to year for the July 2013 Monthly Market Detail Martin County Single Family Homes as reported by Florida Realtors.   Closed sales were up by 18.2% (was 24.4 % in June) and new sales under contract (new pending sales) increased by 42.1% (43.9% in June).

Both the median and average sales prices (year to year) increased this month by percentages of 11.8% and 14% respectively.

The inventory of available single family homes have decreased to only 1102 units which is down by 23.9% from last July.  Current supply of inventory is only 6.3 months (a 35.5% decrease from last year).  We are now in a balanced market for residential sales in Martin County.  There’s no reason not to expect a sellers market should the inventory continue to decrease.

Please look at the full Martin County single family market detail by clicking on the links below:Martin County Single Family Market Detail July 2013

 

 

Click here to view or download the full report:
July 2013 Monthly Market Detail Martin 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.

July 2013 Monthly Market Detail Martin County Single Family Homes

July 2013 Monthly Market Detail Florida Townhouses and Condos

08.29.13 by

July 2013 Monthly Market Detail Florida Townhouses and Condos

The July 2013 Monthly Market Detail Florida Townhouses and Condos for the state of Florida showed excellent activity after a bit of easing in June.   Year to year closed sales were up by 16.8% as compared to last months decrease of 2.5% and new sales under contract (new pending sales) increased by 20.7% (June’s increase was 14.2%).

Both median and average sales prices were up (year to year) by 21.9% and 21.7% respectively (higher than June’s). 

One item of concern is the active inventory which has decreased again, for July by 17.5%.  The reduced inventory will eventually result 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 will expect a gradual increase in inventory.

Click on the link below or the graphic to see the full market detail report from Florida Realtors:Monthly Market Detail July 2013 Townhouses and Condos Florida

 

 

Click here to view or download the full report:
July 2013 Monthly Market Detail Florida 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.

July 2013 Monthly Market Detail Florida Townhouses and Condos

July 2013 Monthly Market Detail Florida Single Family Homes

08.28.13 by

July 2013 Monthly Market Detail Florida Single Family Homes

The positive trend continues for the real estate market as reported by Florida Realtors for the July 2013 Monthly Market Detail Florida Single Family Homes for the entire state of Florida.  All indices have once again moved in a positive direction with the exception of inventory (active listings).  Year to year closed sales were up by 20.9% (was 8.6% in June) and new sales under contract (new pending sales) increased by 25.9% (was 23.1% in June).

Both median and average sales prices were up (July 2012 to July 2013) by 18.7% and 17.5% respectively.  July results are surprisingly better numbers than June of 2013 and momentum has been regained.

The inventory of available homes for sale remains a concern as it continues to decrease, down by 17.2% from last year.  The reduced inventory will eventually result 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 will expect a gradual increase in inventory.

Please look at the full detail report for the rest of the story:Florida Market Detail July 2013 Single Family Homes

 

Click here to view or download the full report:
July 2013 Monthly Market Detail Florida 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.

July 2013 Monthly Market Detail Florida Single Family Homes

Martin County Florida Condo Market Report for July 2013

08.27.13 by

Martin County Florida Condo Market Report for July 2013

 

Commentary:

The Martin County Florida Condo Market for July 2013 had minimally better sales than last year (2 condos).  On a positive note, the inventory rose to 526 units, making for a better selection for buyers.   Though these levels are still low.  It was back in 2005 when we had steady inventory levels below 600 units.  The median sales price took a nice jump from June (up by $34,000) and is $6,000 higher than last year.  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 July.  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 8.92 months from last months 7.36 months, while the three-month average is now at 7.41 months.  We’ve slipped back into a slight buyers market.  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:

Absorption Rate

  

 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.Volume of Sales

Price

Trend Chart

Data compiled from the Realtor Association of Martin County

Martin County Florida Condo Market Report for July 2013

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August 2013 Market Update for Oak Ridge in Palm City

08.27.13 by

August 2013 Market Update for Oak Ridge in Palm City

There are currently 6 homes available for sale in Oak Ridge in Palm City, FL.  The list prices range from $279,000 to $834,000 for an average of $163.52 per sq. ft. of living area.  None of these are distressed (short sales or foreclosures) sales.

There are 4 homes under contract and awaiting sale dates.  List prices range from $299,000 to $394,000.  The average is $163.44 per sq. ft. of living area.  One of these pending sales is a short sale.

11 homes have sold in Oak Ridge in the past 12 months.  Sale prices ranged from $175,000 to $420,000.  The average sold price per square foot of living area was $131.21 at a list to sales ratio of 96%.  There was one short sale and one bank owned foreclosure in these sales.

Oak Ridge in Palm City, FL

Located in a quiet tranquil corner of Palm City Florida, the Oak Ridge community of 224 homes is conveniently located close to top rated schools, shopping, I-95 and Florida’s Turnpike, golf courses, cultural activities, parks and beaches. Linked with tree lined streets and cul-de-sacs, homes are located on preserves or water front on lakes or ocean access canals. Enhanced private homesites within a traditional community setting. The gated neighborhood of Oak Ridge offers a 2000 sq. ft. club house, pool, two lighted tennis courts and a deep water ocean access boat ramp. Each house is ideally situated on a lake or preserve property.

Oak Ridge in Palm City, FL


There is a mandatory Home Owners Association with reasonable quarterly dues which cover Basic Cable TV, Landscaping and Maintenance of all Common Areas, Gate Maintenance, Property Manager & Reserve Funds. 

Residents of Oak Ridge are in the Martin County School system and currently, the assigned schools are Bessey Creek Elementary, Hidden Oaks Middle and Martin County High School.

Only minutes to Pendarvis Cove Park on the shores of the Saint Lucie River. Additional boat ramp and trailer parking and home of the sailing club.

Other close by amenities include lots of great shopping, easy access to Florida’s Turnpike and I-95. Only 15 minutes to the shores of the Atlantic Ocean. Give us a call if you’d like additional information about this wonderful Palm City community.

 

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Martin County Florida Residential Market Report for July 2013

08.26.13 by

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.

Absorption Rate

 

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.

Number of Sales

Price

Trend Chart

 

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

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

Stuart Florida Real Estate

August 2013 Market Update for Castle Hill Sewalls Point

08.26.13 by

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 Gate

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.

Water views

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.

Castle Hill Home

Here are the currently available homes for sale in Castle Hill

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August 2013 Market Update for Castle Hill Sewalls Point

August 2013 Market Update for Martins Crossing

08.25.13 by

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