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

11.24.12 by

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

 

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

 

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

 

There are currently 29 active condo listings. (Up 1 from September)

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

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  2 Condos sold in October (Unchanged from September)

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The Hobe Sound condo market (Zip Code 33455) is tied now ith the Jensen Beach area as the smallest segment of the Martin County real estate market.  October showed very little change from last month (which showed very little change from August).  Only an increase of 1 condos in inventory with both pending and closed sales remaining unchanged from September.

The one month absorption rate is 14.5 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.  With the holidays approaching, I’m not expecting any significant change in the Hobe Sound condo market in the coming months.

The October 2011 numbers were:  42 active listings, 3 pending sales and 2 closed sales.  Other than a lower inventory, very similar results to this year’s activity.



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

 

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

11.23.12 by

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

 

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

 

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

There are currently 300 active listings. ( A decrease of 16 homes from September)

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79 Residential sales are pending and awaiting close or lender approval (An increase of 10 homes from September)

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26 Homes Sold in October (An increase of 11 homes from last month)

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After two months of gains in inventory, The Hobe Sound Florida residential real estate market reversed course and decreased the active inventory in October.  There were surprisingly strong results in both pending and closed sales as well, making the 33455 zip code area of Martin County one of the top performing areas for October 2012.

The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 dropped to 11.5 months from last month’s 21 months.  While still a buyer’s market, it’s considerably closer to a balanced market.  An absorption rate of 6 months is considered to be a balanced market favoring neither the buyer or seller.

The numbers for October 2011 were:  328 active listings, 59 pending sales and 30 closed sales.   Other than a larger number of pending sales (possibly indicating higher closed numbers in the months ahead), fairly similar to this years number.

 

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

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

11.21.12 by

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

 

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

 

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

There are currently 29 active listings. ( A decrease of 18 condos from September)

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22 Condo sales are pending and awaiting close or lender approval. (Down 8 condos from September)

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8 Condos Sold (Up 5 from September)

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The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market.  After this past month’s drop in inventory, the number of available units is very small. 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 down and closed sales were up for October.  With such small inventory, as well as the holidays approaching, I’m not expecting any movement from this segment of the market, unless the inventory can pick up.

The one month absorption rate for the October 2012, Jensen Beach Florida Market Report ZIP Code 34957 is 3.6 months.  The strongest seller’s market for condos in Martin County.

The October 2011 numbers were: 60 active listings, 12 pending sales and 1 condos closed.


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

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

11.20.12 by

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

 

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

 

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

 

There are currently 109 active listings. (Down 19 homes from last month)

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74 Residential sales are pending and awaiting close or lender approval. (Down 4 homes from September)

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24 Homes Sold (Down 1 home from September)

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The Jensen Beach residential real estate market, zip code 34957 remained at a steady pace for October.  Very little change from September with the exception of a fairly sizable drop in inventory to just over 100 homes actively on the market.  This is a very low number for the Jensen beach area of Martin County.
 
The current absorption rate for the Jensen Beach Florida Market Report ZIP Code 34957 is 4.5 months.  This is the best sellers market in our area 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 October 2011 numbers were: 146 active listings, 84 pending sales and 6 home sales closed.  Even with significantly less inventory, much better sales figures for October 2012.
 

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

Foxwood in Martin County Florida

11.19.12 by

Foxwood in Martin County Florida

 

Foxwood in Stuart Florida

Foxwood is located just west of I-95 on Pratt and Whitney road in Western Stuart Florida.  It consists of 109 home sites that are all 2 acres or larger.  Horses are permitted with a zoning of one horse per acre.   Foxwood was designed with Florida’s natural environment in mind.  Every Foxwood home is custom built with the residents encouraged to keep some natural habitat in place.  Recently, a rare Florida Panther was seen going through Foxwood.

Foxwood Stuart FL

Association fees are a very reasonable $450 per year.  These fees cover maintenance of the private roads, sanitation and management fees.  More information about the Foxwood Property Association can be found at this community’s property association web site: Foxwood Property Association of Stuart Florida

Foxwood Stuart FL

Construction of homes in Foxwood began in 1978.  Four phase of development ended with the last phase commencing in 1990.  Most lots have been developed with just a handful of vacant lots left of which currently none are available for sale (as of this writing).

Foxwood Stuart FL

Foxwood is located less than a mile from the ‘A’ Rated South Fork High School with easy access to Palm Beach County and only 15 minutes to downtown Stuart and the pristine beaches of Martin County.

A perfect place to call home for those who desire some room to roam yet be close to shopping, restaurants and other urban areas.

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Residential Homes, Condos and Land with special emphasis on Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Foxwood in Martin County Florida

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

11.18.12 by

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

 

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

 

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


There are currently 420 active listings (An increase of 18 homes from September)

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

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49 Homes Sold in October (Increased by 16 homes from September)

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For the Palm City, zip code 34990, area of Martin County Florida, a good strong October after a pretty weak September.  Closed sales came back up by 16 from a disappointing September.  The inventory of available homes for sale increased as well, but still remain at levels lower than they’ve been in quite a few years.  Pending sales were off by a bit and we expect some slower market activity for the next few months as we approach the holidays.

The current absorption rate stands at 8.6 months. Considerably better than last month’s over 1 year absorption rate.  This is a slight buyer’s 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 October 2011 numbers were:  468 active listings, 138 pending sales and 41 closed sales.  Better than last October, especially when factoring in the lower inventory for this year.

 

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

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

11.17.12 by

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

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

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



There are currently 59 active condo listings. (A decrease of 3 condos from September)

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

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No Condos Sold in October. (Down 4 from September)

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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 October, their were no sales closed for condos in Palm City.  The inventory decreased slightly and pending sales increased by 3.
With no sales, the absorption rate is not applicable.
The October 2011 numbers were: 59 active listings, 2 pending sales and 2 closed sales.   Inventory is the same as last year.  Pending sales are much better this year.

 

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

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

11.16.12 by

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

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

 

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

 

There are currently 99 active condo listings (A decrease of 2 condos form September).

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21 Condo sales are pending and awaiting close or lender approval (Up 2 condos from September).

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6 Condos Sold in October (A decrease of 3 condos from September).

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Reflecting the off season for condos, the Stuart condo market for the area in ZIP code 34997 had a pretty lackluster month for October.  Basically unchanged from September, with only minor variations.  With the holidays coming up, we’re not expecting any major movement in the Stuart condo market.  Possibly an increase in inventory as often condo owners will try to time the market for the winter and spring season when activity tends to be a bit higher.

The one month absorption rate is at 16.5 months, indicating a continued strong buyers market.

The October 2011 numbers were: 120 active listings, 13 pending sales and 10 closed sales.  Other than approximately 20% less available inventory, the numbers are fairly similar to October 2011.

 

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

 

 

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

11.15.12 by

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

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

 

There are currently 360 active listings (a decrease of 5 homes from September).

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189 Residential sales are pending and awaiting close or lender approval (An increase of 11 homes from September).

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51 Homes Sold in September (Up 1 home from September)

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The 34997 zip code area of Stuart Florida continue to show strong numbers.  Inventory declined slightly while pending sales (an indication of future closed  sales) remained strong.  Closed sales were steady.
 
The current one month absorption rate is at 7 months, very close to a balanced market.  Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 month absorption rate.
 
The 2011 numbers were: 519 active listings, 194 pending listings and 47 closed sales.  Considering the amount of inventory being significantly lower this year, it’s fairly impressive that the market has performed this well.
 
 

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

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

11.14.12 by

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

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

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

 

There are currently 194 active condo listings (Down 4 from last month).

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26 Condo sales are pending and awaiting close or lender approval (a decrease of 2 condos from September).

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17 Condos Sold in October (Up 9 from September)

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The Stuart Florida Market Report ZIP Code 34996 for Condos had some very strong closed sales in October, typically an off month for condo sales.  Future sales (pending listings)  were off minimally while the inventory was also down by a small number.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just over 11 months.  Considerably improved from the past few months.

The numbers for October 2011 were: 213 active listings, 24 pending sales and 17 closed sales.  Very similar numbers to the current market with significantly lower inventory.

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

Stuart Florida Market Report ZIP Code 34996 – Residential, October 2012

11.13.12 by

Stuart Florida Market Report ZIP Code 34996 – Residential, October 2012

 

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for October 2012

 

 

For October, 2012 in the Stuart Florida Market Report ZIP Code 34996 Florida :

There are currently 157 active listings (Increased 4 homes from September).

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33 Residential sales are pending and awaiting close or lender approval (Down 1 from September).

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12 Homes Sold in October (Up 5 from September).

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The 34996 zip code area of Stuart Florida showed an increase in sales for October.  Pending sales were basically unchanged (down 1) from last month while the inventory had a small increase.  Good results when considering that this is still our off season.  The one month absorption rate for the 34996 zip code area of Stuart Florida for October is 12.8 months, which still has plenty of room for improvement.  A balanced market, favoring neither buyer or seller is considered to be around a 6 month absorption rate.

The numbers for October of 2011 were: 161 active listings, 35 pending sales and 5 closed sales.

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Stuart Florida Market Report ZIP Code 34996 – Residential, October 2012

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

11.12.12 by

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

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

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

 

There are currently 143 active condo listings (Up 1 condo from September).

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

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13 Condos Sold in October (Increased by 1 condo from September).

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Continued strong results for the Stuart Condo market for zip code 34994 even during our off season.  Sales were up by 1 unit while pending sales remained unchanged and the available inventory was up by 1 unit.  The one month absorption rate is at 11 months, which still signifies a buyers market.  And, it appears that the buyers are indeed buying, even during the typically slower condo season.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither a buyers or sellers market.

Last October the numbers were 135 active listings, 31 pending sales, and 21 closed sales.

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

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.

 

Search here for available homes in the Yacht and Country Club of Stuart, Florida
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:

Stuart Florida Real Estate