Stuart Florida Market Report ZIP Code 34994 – Residential, October 2012

11.10.12 by

Stuart Florida Market Report ZIP Code 34994 – Residential, October 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for October 2012

For October, 2012 in the 34994 Zip Code area of Stuart, Florida :

 

There are currently 67 active listings (Up 6 from September).

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32 Residential sales are pending and awaiting close or lender approval (Down 5 from September).

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9 Homes Sold in October (Down 3 homes from September)

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The 34994 ZIP code area of the Stuart, Florida real estate market activity has cooled slightly after a very strong spring.   Inventory has crept up again for the second month in a row which makes more homes available for buyers.  Both pending and closed sales were off slightly.

The one month absorption rate for this zip code is just over 7 months, which signifies a shift to a slight buyers market, after many months of under 6 month rates (sellers market).  Still an excellent time for those wishing to place their homes on the market for sale.  The October 2011 numbers were 77 Active Listings, 36 pending sales and 9 closed sales.

 

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Stuart Florida Market Report ZIP Code 34994 – Residential, October 2012

Sewalls Point Residential Market Report October 2012

11.07.12 by

Sewalls Point Residential Market Report October 2012

Sewalls Point Real Estate Snapshot, Residential Sales for October 2012

There are currently 47 active listings (a decrease of 3 home for sale from September)

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17 Residential sales are pending and awaiting close or lender approval (a decrease of 3 homes from September)

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7 Homes sold in September (Up 4 from September)

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Strong activity for the Sewalls Point market report for October 2012.  A very good month for sales with 7 closings.  Pending sales were off slightly (by 3 homes) while the inventory is now down to 47 homes.  This is quite low for Sewalls Point.

The absorption rate now stands at 6.7 months.  This is an indication of a balanced market favoring neither seller or buyer.

Comparing the results to October of 2011, the inventory was at 43 homes homes on the market last year, pending sales numbered only 14 homes, and there was only 1 sale.

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Sewalls Point Market Report – Residential, October 2012

 

2012 Stuart Air Show

11.06.12 by

2012 Stuart Air Show

The 2012 Stuart Air Show which raises money for the Road to Victory Military Museum begins Friday November 9 with a party featuring an aerial performance by a plane loaded with over 250 LED lights.  Called ‘the Dirty Flight Suit Party’, it begins at 4 pm and offers a twilight preview of the upcoming weekend airshow with an F-18 flyover.  Party attendees get the chance to mingle with the air-show’s pilots and support crews while enjoying food and drink as well as a live performance from the Tom Jackson Band.  Tickets are $60. per person.

The main event will be on the weekend (Nov 10 and 11) from 9 am to 5 pm.  Tickets are $18.00 on line, $20.00 at the door while children under 10 and veterans with military ID get in free.  There are some special upgrade sections with reserve seating and food and beverage service.  Information can be found on the Stuart Air Show website.

The highlights of this year’s schedule include an F-18 performance from the US Navy.
Starjammers, an acrobatic musical plane.
A Jet Powered School Bus.
OTTO the Clown – a helicopter comedy show
Randy bell – Aerobatics n a Russian MIG-17
The AeroShell Acrobatic Team
John R. Mohl – Aerobatics with a restored 1943 bi-plane
World War II battle re-enactment (begins at 11 am – courtesy of the Road to Victory Military Museum of Stuart
Crowding the bridges, parks and even the Saint Lucie River on their boats, many families watch the skies as the planes twist and twirl through the air making it an event that is bigger than just those attending at Witham Field.  A wonderful yearly experience, the Stuart Air show is a big hit for Martin County natives and tourists alike while helping many deserving charities as well.

 2012 Stuart Air Show

Sandpebble Condo and Beach Club on Hutchinson Island

11.05.12 by

Sandpebble Condo and Beach Club on Hutchinson Island

November 2012 Market Update for the Sandpebble Condo and Beach Club on Hutchinson Island in Stuart, Florida:

There are 6 active listings (Three river side and three ocean side)
No pending sales at this time.
In the past 12 months 9 condos have sold.  7 river side and 2 on the ocean side.
River side sales were from $125,000 to $240,000 averaging $200,485 or $189 per square foot of living area.
On the ocean side the two sales were for $300,000 and $326,000 averaging $218 per square foot of living area.

On the beautiful and unspoiled portion of South Hutchinson Island lies one of the best kept secrets in Martin County.  Located on a pristine 37 acres that reaches from the Atlantic Ocean to the Indian River (Intracoastal Waterway).

Sandpebble Condos consist of 3 Ocean Front Buildings and 7 River Front buildings.  A total of 5 heated pools (3 river side and 2 ocean side), along with deep water docks for 66 vessels.    Docks are available to residents only on a first come first served basis and are available for lease at a very reasonable $1.50 per foot per month.

On the spacious grounds there is plenty of green space for outdoor activities, two hard court tennis courts and a fully equipped club house with kitchen and on-site management.  Both Oceanside and riverside sections are gated for secured entry only.  Residents have the use of both the river and Oceanside sections regardless of the location of their own units.

Construction of the Sandpebble complex began in 1982 and just recently all buildings were completely refurbished with metal roofs, Hardi-Plank replacement for exterior wood surfaces, complete concrete (re-bar) restoration, the installation of a bulkhead protecting and enhancing the river-side property and structures, updated landscaping and the painting of all the buildings.

For additional information and availability of Sandpebble Condominiums and other attractive Oceanfront Homes, Condos or Vacant Land, contact Gabe Sanders.

Sandpebble Condo and Beach Club on Hutchinson Island

The Archipelago of Sewalls Point

11.04.12 by

The Archipelago of Sewalls Point

Currently (November 2012) in the Archipelago there are two  homes on the market.
One home is under contract and awaiting resolution of contingencies.
In the past 12 months, 1 home sold for $599,000 ($250. per sq. ft. of living area)

Located in the prestigious town of Sewalls Point, Florida the Archipelago is a non gated neighborhood of all waterfront homes with access to the crystal clear waters of the Atlantic Ocean through the Saint Lucie Inlet in Martin County, Florida.  All the homes in the Archipelago are on either the wide waters of the Indian River or located on deep water canals.  The Saint Lucie Inlet to the Atlantic is less than two miles away by water.  Access is maintained by dredging all Archipelago waterways to 6’.  Homes range from modest older frame homes, to spectacular estate lots with magnificent views.

The link below will take you to all currently available Archipelago homes in Sewalls Point, Florida

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The Archipelago of Sewalls Point

The Yacht and Country Club of Stuart Florida

11.03.12 by

The Yacht and Country Club of Stuart Florida

November 2012 Market Update:

There are 23 homes currently for sale in the Yacht and Country Club of Stuart.  Listing prices are from $131,000 to $785,000.

There are currently 7 homes under contract (3 of which are short sales) ranging in listing price from $124,900 to $389,900.

35 homes have sold in the past 12 months.  Ranging in sales price from $109,900 to $890,000 (the average sales price was $259,106 or $107 per sq. ft. of living area).


The Yacht and Country Club of Stuart, Florida Golf Course

One of the first gated golf communities in Martin County, the , Florida remains among the preeminent communities on Florida’s Treasure Coast for both the golf and yachting enthusiast.  This fine gate guarded community boasts water front homes that are only minutes from the Saint Lucie inlet and the Atlantic Ocean.  Easy access for day trips to the Bahamas and back and a true fisherman’s paradise.

The Yacht and Country Club of Stuart, Florida Clubhouse

The ‘Stuart’ golf course at the Yacht  & Country Club of Stuart, Florida features a professional 18 hole course with 6,466 yards of golf from the longest tees for a par of 71 . The course rating is 71.2 and it has a slope rating of 125 on Bermuda grass. Driving range and putting greens are also provided at this club.

The Yacht and Country Club of Stuart, Florida Canal

The clubhouse at the Yacht and Country Club of Stuart offers a professionally appointed fitness center with a a resident massage therapist.  Tennis is provided by ix lighted Har-tru tennis courts and also residents are provided with two lighted croquet lawns.

The Yacht and Country Club of Stuart, Florida Homes

There is a heated swimming pool open daily and water aerobics is offered on a weekly basis. The Yacht and Country Club of Stuart has a formal Dining Room that has earned itself a reputation as one of Stuart’s finest dining establishments. Also offered is the “Grill Room” for those who would like to enjoy a more casual dining experience.

The Yacht and Country Club of Stuart, Florida Homes

Truly a wonderful place to call home.

 

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Yacht and Country Club of Stuart, Florida - Homes for Sale

The Yacht and Country Club of Stuart Florida

25th Jensen Beach Pineapple Festival

11.01.12 by

25th Jensen Beach Pineapple Festival

The 25’th year of the Jensen Beach Pineapple Festival takes place this weekend from November 2 – 4 in Downtown Jensen Beach.  Starts at 6 pm on Friday Nov 2.  Advanced admission tickets are $10. available at all Seacoast National Bank locations and the Sonic Drive-In.  Regular admission will be $15 with children 12 and under free.  Students from 13 to 18 with ID will enter for $5.

The Pineapple Festival is held in the streets of downtown Jensen Beach.  The festival site includes Ricou Terrace and Pineaple Avenue from Church St. to Jensen Beach Blvd.  Festival organizers recommend that you park at the Jensen Beach Elementary School located at 2525 NE Savannah Rd and take the free shuttle bus to the Festival.

This years festival will include arcade rides, a Bahamian market and arts exhibit, juggling, magic shows, and many more fun activities for the whole family,

 

On the three stages this year will be Bradley Singleton, Dr. Sea Breeze, Laura Tuller Band, the Brilanders, Kickin It Country Dancers, Michael Wright Band, Lucky Dog Band, Josh Gaines, In Motion, Saint Joseph School Jazz Band and more!!

 

This years highlighters will be Chris Cagle on Friday (8 pm), Edie Money on Saturday (8 pm) and Vanilla ice Sunday (7 pm).  Come out and join in the fun at this year’s Jensen Beach Pineapple Festival

 

25th Jensen Beach Pineapple Festival

Martin County Florida Condo Market Report for September 2012

10.31.12 by

Martin County Florida Condo Market Report for September 2012

 

Commentary:

The Martin County Florida Condo Market for September 2012 was fairly slow.  Though this is typical for our seasonal condo market, we were hoping for a little better activity.  Sales for September were down to 39 units from 46 in August.  Just about identical to September 2011 which had 40 sales.  The inventory was down by 10 units and is basically holding steady as last year at this time it was 623 condos available for sale.  I would not be surprised to see more inventory growth as we get into the upcoming  fall and winter condo season.  The median sales price took a big jump in September as some fairly high priced condos were sold last month. (Up to $159,000 from just $97,000 for August)

The one month absorption rate is up to 14.6 months, while the three-month average is at 12.1 months.  Still a very challenging market for sellers with the accompanying quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

Currently, the condo market is under-performing as compared to our residential market and the condo markets of our southern neighbors.  I do expect this trend to stop as buyers realize the bargains currently available in the Martin County condo market.

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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

Martin County Florida Condo Market Report for September 2012

the Gabe Sanders real estate team

Condo 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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Martin County Florida Residential Market Report for September 2012

10.30.12 by

Martin County Florida Residential Market Report for September 2012

 

Commentary:

The Martin County Florida residential market report for September 2012 showed our typical season slowdown. The sales volume of 133 homes is still 16 homes better than 2011 and 18 homes better than 2010, but not quite as robust as our earlier numbers this year.  But, still good numbers when considering our available homes (inventory) is considerably reduced from the previous years.

Average and median sales prices too a huge dip in September.  This is more an indication that the homes selling this month tended to be in the lower price range rather than a further softening of existing home prices.

This months inventory showed a continued decrease (after a slight increase last month) to 1135 units (down 12 homes from last month), still down from the 1365 homes that were on the market in September of 2011 (and the 2789 homes in September of 2007). The one month absorption rate for September is 8.5 months, while the three-month average is 7.3 months. A 6 month absorption rate is considered to be a balanced market, so we are once again in a slight buyers market in Martin County.

Office activity is very good and I believe we will be back to some positive market results in the upcoming season.

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

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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

Martin County Florida Residential Market Report for September 2012

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

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, September 2012

10.29.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, September 2012

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for September 2012

 

For September 2012 in the 33455 Zip Code area of Hobe Sound, Florida :

 

There are currently 28 active condo listings. (Up 2 from August)

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7 Condo sales are pending and awaiting close or lender approval. (Unchanged from August)

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  2 Condos sold in September (Unchanged from August)

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The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  September showed very little change from last month.  Only an increase of 2 condos in inventory with both pending and closed sales remaining unchanged from August.

The one month absorption rate is 14 months, signifying that it’s still a buyers market.  Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.  But, with such low numbers, these indicators can easily be misleading.

The September 2011 numbers were:  38 active listings, 6 pending sales and 0 closed sales.  Other than a significantly lower inventory, very similar results.



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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, September 2012

 

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, September 2012

10.28.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, September 2012

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for September 2012

 

For September 2012 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 316 active listings. ( An increase of 18 homes from August)

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69 Residential sales are pending and awaiting close or lender approval (An increase of 14 homes from August)

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15 Homes Sold in September (A decrease of 22 homes from last month)

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The Hobe Sound Florida residential real estate market activity has seen some inventory gains in the past two months.  This is the only segment of the Martin County real estate market showing an inventory increase of this magnitude.  Pending sales were also up for September while closed sales were off quite a bit.  This is most likely due to the slow summer seasonal influence more than any significant market changes.

The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 stands at 21 months. For September 2012 this is still a strong buyers market for Hobe Sound.  An absorption rate of 6 months is considered to be a balanced market favoring neither the buyer or seller.

The numbers for September 2011 were:  348 active listings, 48 pending sales and 21 closed sales.   Marginally better numbers this year than last.

 

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Hobe Sound Florida Market Report ZIP Code 33455 – Residential, September 2012

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, September 2012

10.26.12 by

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, September 2012

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for September 2012

For September 2012 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :

There are currently 48 active listings. ( A decrease of 2 condos from August)

30 Condo sales are pending and awaiting close or lender approval. (Up 3 condos from August)

3 Condo Sold (Down 1 from August)

The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market. The current inventory is now very low at only 48 condos available for sale. This might be an excellent time for those who have a need to sell their Jensen Beach condo in zip code 34957.  Pending sales were up marginally and closed sales fell for September by 1 unit. Considering that this is the summer season where the condo market activity is normally slow, this segment continues with good activity.

The one month absorption rate for the September 2012, Jensen Beach Florida Market Report ZIP Code 34957 stands at a very unimpressive 16 months.  Still a strong buyers market, but there just isn’t very much quality inventory.  I’m expecting this to change when some of the pending sales close.

The September 2011 numbers were: 55 active listings, 10 pending sales and 8 condos closed.  Very similar to this years numbers, but better closed activity last year.

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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, September 2012

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, September 2012

10.25.12 by

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, September 2012

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for September 2012

For September 2012 in the 34957 Zip Code area of Jensen Beach, Florida :

There are currently 128 active listings. (Unchanged from last month)

78 Residential sales are pending and awaiting close or lender approval. (Down 5 homes from August)

25 Homes Sold (Down 1 home from August)

After a very strong spring and early summer for the Jensen Beach residential real estate market, zip code 34957, September was fairly flat.   The inventory was unchanged for September.  Both closed and pending sales decreased slightly.

The current absorption rate for the Jensen Beach Florida Market Report ZIP Code 34957 is just over 5 months.  This signifies a sellers market, in which the seller has an advantage over the buyer due to low inventory and increased demand.  A 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.
The September 2011 numbers were: 150 active listings, 80 pending sales and 19 home sales closed.  Even with significantly less inventory, much better sales figures for September 2012.

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Jensen Beach Florida Market Report ZIP Code 34957 – Residential, September 2012

The Admiralty Condos in Palm City Market Update

10.25.12 by

The Admiralty Condos in Palm City Market Update

For October 2012: There are 2 active listings in the Admiralty

There are currently two condos under contract and awaiting the closing date. (list prices are $649,000 and $650,000)

In the past 12 months, only 1 condo sold.  Closed for $595,000 (or $201.00 per square foot of living area)

 

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.  Current Condo association fees in the Admiralty range from the $700 to under $900 dollars per month depending on the unit size.

The Admiralty condos boast superior construction and wide water views of the Saint Lucie River along with individual 2 car garages for each unit located under each building along with additional storage.

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 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! 

The Admiralty Condos in Palm City Market Update

Spacious Key West Style Stuart Pool Home Just Listed

10.22.12 by

Spacious Key West Style Stuart Pool Home Just Listed

An excellent opportunity in one of Stuart’s premier locations!  227 SE Pelican Drive is now available for sale.

Stunning Key West Style 2 story pool home located in the perfect Stuart neighborhood. Just one block from the Saint Lucie River, and close to the beaches and downtown. This home has 2,930 sq ft under air (see attached floor plan for correct sq. ft) with large 2 car garage. 4 bedrooms, 3 full baths and half cabana bath. Two full master suites on the second level and a large bonus room. Bonus room is used as billiards room – pool table and small fridge included in the sale. Updated eat in kitchen open to family room with gas fireplace. Separate dining room and formal living room. French doors lead out to a tropical oasis with heated pool/spa area, retractable Sunbrella awning and outdoor speakers. This is the perfect family home! Must see to appreciate!

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Spacious Key West Style Stuart Pool Home Just Listed

 

Palm City Florida Market Report ZIP Code 34990 – Condo, September 2012

10.21.12 by

Palm City Florida Market Report ZIP Code 34990 – Condo, September 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for September 2012

For September 2012 in the 34990 Zip Code area of Palm City, Florida :

There are currently 62 active condo listings. (A decrease of 1 condo from August)

6 Condo sales are pending and awaiting close or lender approval. (Unchanged from last month)

4 Condos Sold in September. (Unchanged from August)

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.  For September, the market was basically unchanged from August with only 1 condo less in the active inventory.

The one month absorption rate for the Palm City Florida condo market is 15.5 months.  Still a significant buyers market.
The September 2011 numbers were: 61 active listings, 4 pending sales and 1 closed sales.   Slightly better market activity this September, compared to last, but still plenty of room for improvement.

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Palm City Florida Market Report ZIP Code 34990 – Condo, September 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, September 2012

10.20.12 by

Palm City Florida Market Report ZIP Code 34990 – Residential, September 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for September 2012

For September 2012 in the 34990 Zip Code area of Palm City Florida :

There are currently 402 active listings (An increase of 2 homes from August)

170 Residential sales are pending and awaiting close or lender approval. (An increase of 9 homes from last month)

33 Homes Sold in September (Decreased by 35 homes from August)

For the Palm City, zip code 34990, area of Martin County Florida activity slowed in September after a super spring.  Closed sales were off by a significant amount (50%).  However, pending sales were up showing some good potential for the fall.  The inventory of available homes for sale increased marginally, but still remain at levels lower than they’ve been in quite a few years.  The market activity remains active, much more so than in the past few years.

The current absorption rate shot up to just over 12 months, which is considered to be a buyers market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.  Much of these numbers are a reflection of the slower activity which is typical for our area in the summer months.

The September 2011 numbers were:  482 active listings, 124 pending sales and 49 closed sales.  Considerably improved market activity for September 2012, especially when the lower inventory is factored into the results.

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Palm City, FL Real Estate

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Palm City Florida Market Report ZIP Code 34990 – Residential, September 2012

Stuart Florida Market Report ZIP Code 34997 – Condo, September 2012

10.19.12 by

Stuart Florida Market Report ZIP Code 34997 – Condo, September 2012

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for September 2012

For September 2012 in the 34997 Zip Code area of Stuart, Florida :

There are currently 101 active condo listings (An increase of 3 condos form August).

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

9 Condos Sold in September (A decrease of 6 condos from August).

Reflecting the off season for condos, the Stuart condo market for the area in ZIP code 34997 had a pretty lackluster month for September.  A small increase in inventory and decreases in both pending and closed sales.

The one month absorption rate is at 11.2 months, slipping back into a buyers market.

The September 2011 numbers were: 112 active listings, 16 pending sales and 4 closed sales.  While it was a slow month, still better numbers than from September of 2011.

Stuart Florida Real Estate presented by:
Gabe Sanders

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for September 2012

Stuart Florida Market Report ZIP Code 34997 – Residential, September 2012

10.17.12 by

Stuart Florida Market Report ZIP Code 34997 – Residential, September 2012

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for September 2012

There are currently 365 active listings (an increase of 33 homes from August).

178 Residential sales are pending and awaiting close or lender approval (A decrease of 17 homes from August).

50 Homes Sold in August (Down 32 homes from August)

After a really good August for the 34997 zip code area of Stuart Florida, numbers were off for September.  A significant jump in inventory, possibly signalling more homes coming on the market for the season as some recent good market news may have some sellers that have delayed their sales decision coming back on the market.  Unfortunately, both pending and closed sales were off.  Possibly this is more a reflection of the off season as opposed to a waning demand.

The current one month absorption rate is just over 7 months, which indicates that we’ve slipped into a buyers market (compared to last month’s 4 month absorption rate)..   Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 month absorption rate.
The 2011 numbers were: 503 active listings, 181 pending listings and 60 closed sales.

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Stuart Florida Market Report ZIP Code 34997 – Residential, September 2012

Stuart Florida Market Report ZIP Code 34996 – Condo, September 2012

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Stuart Florida Market Report ZIP Code 34996 – Condo, September 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for September 2012

For September 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 198 active condo listings (Up 8 from last month).

28 Condo sales are pending and awaiting close or lender approval (an increase of 9 condos from August).

8 Condos Sold in September (Down 4 from August)

The Stuart Florida Market Report ZIP Code 34996 for Condos showed its first increase in inventory in some time.  Future sales (pending listings) took a nice jump up to 28 condos while sales were off to only 8 sold condos.  Not an unexpected number considering we are in the off season for condo sales.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just under 24 months.  Not a very good number for sellers, but a great opportunity for buyers.  I expect this absorption rate to decrease in the coming months if the strong pending numbers hold up.

The numbers for September 2011 were: 188 active listings, 27 pending sales and 18 closed sales.  Very similar numbers to the current market.

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Stuart Florida Market Report ZIP Code 34996 – Condo, September 2012