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

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

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

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

There are currently 140 active condo listings (Down by 10 condos from May).

40 Condo sales are pending and awaiting close or lender approval. (Up 3 from last month)

12 Condos Sold in June (Decreased by 11 condos from May).

The Stuart Condo market for zip code 34994 showed a marked decrease of closed sales possibly indicating a seasonal slowdown for the summer months.  But pending sales took a small jump, which is encouraging.  Active listings were down by 10, now only 140 active listings.  Lower inventory typically means less supply, which with any return in demand, might indicate price rises in the near future.

Last year in June of 2011 the numbers were: 148 active listings, 44 pending listings and 10 closed sale.  Fairly similar numbers from last year, with slightly better numbers in all categories.

The one month absorption rate for this market is now 12 months.  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.

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

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

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

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

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

There are currently 266 active listings. ( A decrease of 19 homes from May)

93 Residential sales are pending and awaiting close or lender approval (A decrease of 6 homes from May)

46 Homes Sold in June (An increase of 3 homes from last month)

The Hobe Sound real estate market (ZIP Code 33455) remained active for June. The inventory decreased again.  Now only 266 active listings. Closed sales remained strong and pending sales also showing good future sales providing they close in the near future. The Hobe Sound market has maintained better strength through the late spring season than most segments of the Martin County real estate market.

Last year, in June of 2011, we had 378 active listings, 72 pending sales and 38 closed sales.  A considerably stronger market this year with no signs of anything other than a slight seasonal slow down in the future.

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

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

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

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

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

There are currently 441 active listings (A decrease of 21 homes from May)

189 Residential sales are pending and awaiting close or lender approval. (A decrease of 14 homes from last month)

70 Homes Sold in June (Decreased 11 homes from May)

For the Palm City, zip code 34990, area of Martin County Florida, activity slowed some from the very strong spring.  Both closed and pending sales declined, while the inventory also continued to shrink.  Still good numbers and market activity remains active, more so than the past few years.

Comparing these numbers to June of 2011, when there were 503 active listings, 132 pending sales and 56 homes sold.  Much better market activity for Palm City this year than in the past few years.  Definitely an improving market.

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

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

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

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

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

There are currently 121 active listings. (Down 18 homes from last month)

88 Residential sales are pending and awaiting close or lender approval. (Up 6 homes from May)

25 Homes Sold (Up 7 homes from May)

After two fairly slow months for the Jensen Beach residential real estate market, zip code 34957, June showed better results.   Inventory was down and both pending and closed sales rose.  Much more in line with the rest of Martin County.  There was also an excellent distribution of price ranges for the closed sales.

The June 2011 numbers were 163 active listings, 77 pending sales and 12 closed sales.  Considerably improved numbers this year with a significantly lower inventory fro the Jensen Beach residential real estate market (ZIP Code 34957).

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

Highlands Reserve in Palm City Florida

Highlands Reserve in Palm City Florida

Highlands Reserve in Palm City Florida is the newest upscale community in this section of MartinCounty. Enter the magnificent gates and surround yourself with the well appointed amenities of the clubhouse and natural beauty of this community. Included are paths into winding nature trails will offer dramatic views of surrounding natural preserves and serene lakes.

Located only seconds from I-95 and within minutes of shopping, beaches and the laid back easy lifestyle of Martin County. Perfect for the family with an ‘A’ rated school system. Only 30 minutes to West Palm Beach and 2 hours to Orlando.

Low HOA fees of $275.00 per month include landscaping and irrigation as well as the security gate, use of the full service clubhouse with large pool and state of the art fitness center.  Lounge and kitchen for private parties and occasions.

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Highlands Reserve in Palm City Florida

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

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

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

There are currently 356 active listings (A decrease of 33 homes from May).

204 Residential sales are pending and awaiting close or lender approval (A decrease of 21 homes from May).

78 Homes Sold in May (Up 25 homes from May)

More good results from the 34997 zip code area of Stuart Florida. This segment of the Martin County real estate market has had an exceptionally strong spring! Inventory took another large drop again in June.  Pending and closed sales were also off somewhat from May’s exceptionally strong results.  The activity is still strong though and compared to last year’s numbers (see below), still very positive.
In June of 2011, there were 528 active listings, 164 pending sales, and 60 closed sales, for the 34997 zip code for Stuart, Florida.

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

Portofino Condos at Jensen Beach

Portofino Condos at Jensen Beach

Portofino Condos at Jensen Beach is one of the newest condominium subdivisions in Martin County.  Originally built as an upscale apartment complex around 2000, this development was turned into condominiums and began sales in 2005.  Due to the downturn in the housing market, not all units were sold and some are now being offered for lease.  Portofino Condos at Jensen Beach features 1, 2 and 3 bedroom units with separate garage parking as an added purchase when available.  Unit sizes are 802 sq. ft. for the 1 Bedroom 1 bath, 1074 sq. ft. for the 2 Bedroom 2 bath, and 1252 sq. ft. for the 3 Bedroom 2 bath.

The Condo Owners Association fees range from $190 to $315 per month depending on unit size and for garage owners, there’s an additional $20 per month charge.  Fees include the extensive grounds and gated entry as well as the amenities, which include a large community pool, heated whirlpool, state of the art fitness center, indoor racquetball court, tennis court, playground and a private clubhouse with a full kitchen.

All ages are welcome in Portofino Condos at Jensen Beach.   Children attend Martin County’s highly rated school system, currently at Jensen Beach elementary school, Stuart middle school and Jensen Beach high school.  Portofino Condos is close to the Treasure Coast mall as well as numerous shops and restaurants, medical facilities and only a few minutes to the waterways of Martin County and the beaches of Hutchinson Island.

For information about sales or rentals of Portofino Condos in Jensen Beach, please call the Gabe Sanders real estate team at 772-323-6996 or contact us here.

 

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Portofino Condos at Jensen Beach

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

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

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

For June 2011 in the 34996 Zip Code area of Stuart, Florida :

There are currently 159 active listings (A decrease of 14 homes from May).

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

8 Homes Sold in June (Down 26 from May).

The 34996 zip code area of Stuart Florida showed fewer sales for June as compared to last month while inventory continues to decline and pending sales remained steady.  Home sales averaged much better price numbers than for the past months and last year as higher-priced homes sold in May.

Comparing the numbers to June 2011, there were 167 active listings, 33 pending and 6 closed sales.  Very similar numbers to this year with less inventory available this year.

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

Osprey Cove in Hobe Sound

Osprey Cove in Hobe Sound

Osprey Cove in Hobe Sound, Florida is a waterfront community off of Gomez Avenue in the vibrant Hobe Sound area of Martin County, Florida.  It is also known as the Osprey Cove Yacht Club and boasts 32 deep water boat slips just off the Intracoastal Waterway.  There are only 86 homes in this gated community that broke ground in late 2000 with homes being completed from 2000 through 2006.   Homes range in size from 3 bedroom, 3 bathroom, 2 car garage homes of 2,230 sq. ft. to 5 bedroom, 4 and 1/2 bathroom, 3 car garage pool homes of over 4,000 sq. ft. of living area.  There’s also a community pool and tennis court available to all residents.

For boaters, the docks are approximately 5 miles from the Saint Lucie Inlet of Martin County and just under 10 miles from the Jupiter Inlet in Palm Beach County.  All Osprey Cove residents enjoy easy access to shopping, restaurants and the pristine beaches of Jupiter Island in Martin County.

For families, the Martin County School District is one of the highest rated in Florida and children attend the Hobe Sound elementary school, Murray middle school and South Fork high school.  There are also a number of excellent private schools located nearby, including the Pine School.

You can find additional information at the Osprey Cove in Hobe Sound Homeowner’s Association web page.

For any questions you may have about Osprey Cove in Hobe Sound, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

Hobe Sound Florida Real Estate

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Osprey Cove in Hobe Sound

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

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

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

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

There are currently 70 active listings (Down 5 from May).

50 Residential sales are pending and awaiting close or lender approval (Up 2 from May).

9 Homes Sold in June (Up 1 home from May)

The 34994 ZIP code area of the Stuart, Florida real estate market continues to show very positive market activity.  Sales were up, pending sales also increased and the inventory continued to decline.  With only 70 available homes for sale in this zip code are of Stuart, finding quality well priced homes is becoming difficult for buyers.  Those homes that are attractively priced and in quality condition are in fact moving quickly.  Some very well priced homes closed in June, in the $600,000 to $700,000 price range.

Last June at this time, there were 79 active listings, 36 pending sales and 10 closed sales.  Better activity than last June for the Stuart Florida Markep Report Zip Code 34994 – Residential, June 2012.

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

the Yacht and Country Club of Stuart

the Yacht and Country Club of Stuart

 Yacht and Country Club of Stuart

The Yacht and Country Club of Stuart is one of Stuart Florida’s original gated communities.  The first homes were built in the late 1960’s on the 524 available home-sites.  Currently only a couple of vacant lots are available for those desiring new construction in the Yacht and Country Club of Stuart.   There’s a deep water canal that runs through the middle of this community and those on either side have ocean access through the Manatee Pocket to the Atlantic Ocean only a few minutes away via the Saint Lucie inlet.

Yacht and Country Club of StuartHomes in the Yacht and Country Club of Stuart range from 2 Bedroom, 2 Bath town homes with garages to spacious waterfront estates with over 5,000 sq. ft. of living space, private pool, and deep water dock.

Yacht and Country Club of Stuart

There is a professional golf course on site (membership is not mandatory) that was updated in 2006 by Ed Seay (Arnold Palmer Designs) and Tom Walker (Gary Player Designs).  This course is friendly for beginner golfers yet is still challenging for those with low handicaps.

Yacht and Country Club of Stuart

There is a community pool, tennis courts and fitness center that is separate from the club and available to all residents for a very reasonable annual fee.  In addition, residents can take advantage of a social membership to the main club house which features fine dining, as well as casual meals, and many social functions throughout the year.  The basic Home owner’s association fee for the Yacht and Country Club of Stuart is presently approximately $2,500 per year.  This fee covers the gated entry and security patrols as well as the management and maintenance of all the garden areas and common grounds.  More information about memberships and the golf club can be found on their we site for the Yacht and Country Club.

Yacht and Country Club of Stuart

All residents enjoy easy access to Martin County’s pristine beaches, downtown and just a short ride to shopping, restaurants, ‘A’ rated schools and medical facilities.  The Yacht and Country Club is a unique and wonderful community to call home.

 

Here are the currently available homes in the Yacht and Country Club of Stuart

 

For any questions you may have about the Yacht and Country Club of Stuart, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

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the Yacht and Country Club of Stuart

Sewalls Point Market Report – Residential, June 2012

Sewalls Point Market Report – Residential, June 2012

Sewalls Point Real Estate Snapshot, Residential Sales for June 2012

There are currently 57 active listings (a decrease of 9 homes for sale from April)

14 Residential sales are pending and awaiting close or lender approval (A decrease of 4 from April)

5 Homes sold in April (Down 1 from April)

The Sewalls Point market report for June 2012 remained pretty static compared to last month’s numbers with the exception of a lower inventory.  Whether this is a sign of the sold listings or sellers waiting for the season to sell, remains to be seen.  The sales in June were mostly good value sales with 4 out of 5 above the $500,000 selling price.  Homes that are well-presented and fairly priced are selling.

Comparing the results to June of 2011, the inventory slightly higher this year as there were 52 homes on the market last year, pending sales were 15, and no homes sold.  Considerably better numbers this year as the Sewalls Point real estate market is showing signs of a rebound.

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Sewalls Point Market Report – Residential, June 2012

Palm Cove Yacht and Golf Club in Palm City Florida

Palm Cove Yacht and Golf Club in Palm City Florida

The Palm Cove Golf and Yacht Club in Palm City Florida includes 206 residences, ranging from spacious condos with garages to townhomes, fairway homes to multimillion dollar waterfront homes on the shores of the north fork of the wide Saint Lucie River.

This magnificent community boasts a championship Chi Chi Rodrigues designed golf course. Memberships are available to both residents and non-residents and membership is not mandatory.  In addition to golf, boaters enjoy a 93 slip deep water marina with docks available for over 50’ vessels.

There’s a magnificent club house located riverside by the marina.  Residents enjoy 24 hour security from the manned gated entrance.  The Palm Cove Golf and yacht Club is separated into two main sections.  Fairway homes are on the south side of Mapp Road with the entrance across the main entrance to palm Cove and is controlled by remote from the main security gate.

In the main section, are the estate homes, town-homes at Island creek as well as the condos at ‘the Links’.   Homes range from 1500 sq. ft. town-homes with 2 bedrooms, 2 bathrooms and 2 car garages all the way up to 6,000 sq. ft. plus waterfront residences with 5 bedrooms, office, 6 and ½ bathrooms and 3 car garages.  Home owner (HOA) fees vary from section to section.  The estate homes run approximately $450 per month, while in the fairways section they are around $550 per month, but include landscaping.  For a complete list of fees, please give us a call.

Palm Cove families enjoy a quiet secluded lifestyle yet are close to shopping, restaurants and the beaches of Martin County.  Children attend an ‘A’ rated Martin County school system to the following schools:  Bessey Creek elementary, Hidden Oaks middle and Martin County High.

Currently, these homes are available for sale in the Palm Cove Golf and Yacht Club

or any questions you may have about the palm Cove Yacht and Golf Club in Palm City Florida, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

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Palm Cove Yacht and Golf Club in Palm City Florida

Jensen Beach Golf and Country Club

Jensen Beach Golf and Country Club

The Jensen Beach Golf and Country Club in Jensen Beach Florida is one of the most desirable communities on Florida’s Treasure Coast.  There are 656 homes and home sites spread out on over 240 acres of wildlife preserve with plenty of privacy and homes from four different builders.   Homes began to be constructed in 2000 and new homes continue to be built to order, with a limited number of spec homes available from D.R. Horton and Renar Homes.  Previous builders included WCI Communities and Engle Homes.

The Jensen Beach Golf and Country Club is home to the Eagle Marsh Golf Course.   This is a public course and all are welcome to play.  Inexpensive membership plans are available along with dining facilities, a snack bar and a pro shop.  More information about the Eagle Marsh Golf Club can be found on its web site.

Homes in the Jensen Beach Golf and Country Club range from smaller 2 BR attached villas of approximately 1300 plus square feet of living area and single car garages to spacious one floor and two story pool homes of just over 2500 square feet with 3 car garages.  In addition to the facilities associated with the Eagle Marsh Golf Club, there are two community pools and an active tennis club with 6 professional courts along with a local pro and active league play.

These amenities come at an incredibly attractive HOA fee that include landscaping, trash pickup, and basic cable TV service.

The Jensen Beach Golf and Country Club is attractively situated only 2 miles from the Indian River (the Intracoastal Water Way) and quaint downtown Jensen Beach, only across the causeway to the public beach of Jensen beach for those wishing to take advantage of the clear waters of the Atlantic Ocean.  Less than a mile to the west is the Treasure Coast Mall and the shopping and restaurant corridor of US-1.

For those with children, the ‘A’ rated Jensen Beach High School is within walking distance from the front gate of the Jensen Beach Golf and Country Club.

Here are the currently available re-sale homes in the Jensen Beach Golf and Country Club

For any questions you may have about the Jensen Beach Golf and Country Club, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

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Jensen Beach Golf and Country Club

Legacy Cove in Stuart Florida

Legacy Cove in Stuart Florida

Legacy Cove in Stuart Florida is a gated lakeside community of 229 homes off of Cove Road in Stuart, Florida.  Legacy Cove consists of two sections. The first section of 142 homes called the Cove Isle development was mostly completed between 2004 and 2005.  The newer section, called the Cove Lakes development consists of 87 home sites with construction that began in 2007.  Some homes are yet to be completed in Cove lakes.

There’s a wide variety of homes in Legacy Cove, ranging for the smallest, a 3 bedroom, 2 bathroom, 2 car garage with a little under 1,600 square feet of living area to  4, possible 5 bedroom, 3 and a 1/2 bathroom, 3 car garage two story homes with almost 4,000 square feet of living area.  And many sizes in between.

Legacy Cove boast a community pool and club house with a fitness center as well as two hard surfaced tennis courts.  Many homes in Legacy Cove in Stuart Florida have serene lake views and a comfortable private feeling.  Located just minutes from I-95, this is a great location for those wishing to take advantage of Martin County’s amenities while still having an easy commute to work either north or south.

Legacy Cove is in an ‘A’ Martin County school system with children currently attending Pinewood elementary school, Dr. David L Anderson middle school and Martin County high school.

The HOA fees are very reasonable at $688.00 per quarter.  Management of the community is through Bristol Management of Stuart.

Residents of Legacy Cove in Stuart Florida enjoy a relaxing life style with easy access to restaurants, shopping and the many waterways, beaches and public parks that Martin County has to offer.

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Legacy Cove in Stuart Florida

Lake Tuscany in Stuart Florida

Lake Tuscany in Stuart Florida

Lake Tuscany in Stuart Florida is a newer subdivision just to the west of I-95 in Martin County, Florida.  The homes in Lake Tuscany were mostly completed between 2004 to 2005.  This attractive subdivision is set up with a gated entrance and all 98 homes in Lake Tuscany are on Panther Trace which makes a large circle around the lake in the center.  Homes range from 3 Bedroom, 3 Bath or 4 BR 2 Baths of around 2100 sq. ft. of living area to spacious 6 Bedroom, 4 Bathroom 2 story homes with lofts and theater rooms with pools by the lakeside along with 3 car garages.  All are high quality homes built by local builder Mercedes Homes.

Lake Tuscany boasts lush landscaping and very reasonable Home Owner’s Association fees of $398 per quarter.  These fees cover security, the common areas and lake upkeep, basic cable, trash collection and front landscaping.  The Lake Tuscany property owners web site is located at this site.

Families in Lake Tuscany enjoy Martin County’s ‘A’ rated schools in the following schools: Crystal Lake Elementary, David L Anderson Middle School and South Fork High School.  Shopping is only minutes away and there’s easy access to Martin County’s waterways and just a short drive to the many public beaches.

Search here for currently available homes in Lake Tuscany in Stuart Florida

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

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Lake Tuscany in Stuart Florida

Affordable Stuart Condo in Cedar Pointe Under Contract

Affordable Stuart Condo in Cedar Pointe Under Contract

2929 SE Ocean Blvd. Suite C-2 has been on the market for two weeks and now is under contract.

Affordable Stuart Condo in Cedar Pointe Under Contract.  Cedar Pointe is an active adult community of 62, 2 story buildings divided into 8 villages with numerous clubhouses and pools as well as recreational areas.  One of the prime locations in the city of Stuart only minutes away from the pristine beaches of the Atlantic Ocean and close to shopping, restaurants and medical facilities.

It is currently a very attractive time to consider buying a Cedar Pointe Condo as prices have returned to pre 2003 levels and with low interest rates, these Sunshine State condos are ready for those wishing to move here full time or looking for an affordable winter home.

This condo which has just gone under contract is a spacious first floor one bedroom 1 and 1/2 bath condo for senior adults. Generous open plan with lots of storage and 2 walk in closets. This condo has been brought up to code after 2004 with Impact Glass for the porch, new AC in 2005, new hot water heater in 2005. Very conveniently located within walking distance of the Saint Lucie River, restaurants, shopping and medical facilities. Only a short drive or bike ride to the crystal clear waters of the Atlantic and charming downtown Stuart. This active community features numerous pools with one being just steps from this unit. Shuffleboard and other activities are available at the clubhouse. This unit comes mostly furnished and is ready for some one who wants an affordable Florida home.

The Cedar Pointe Villages 1 through 5 website

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Affordable Stuart Condo in Cedar Pointe Under Contract

Locks Landing in Stuart Florida

Locks Landing in Stuart Florida

Locks Landing in Stuart Florida

Locks Landing in Stuart Florida is a planned unit community of 243 homes on the south eastern shore of the Saint Lucie Waterway, just upstream of the Locks on the Okeechobee Water Way at Phipps Park in Stuart, Florida.

Locks Landing in Stuart Florida

Locks Landing homes range in sizes from just under 2,000 square feet of living area to some spacious 3,000 square feet plus homes on spacious preserve lots.   Many homes enjoy lake views and a few homes offer views of the Saint Lucie Waterway.  This wonderful family neighborhood boasts a number of docks with available water and electrics..  Easy access through the lock to the main Saint Lucie river and out to the crystal clear waters of the Atlantic Ocean or sail west into Lake Okeechobee for a fabulous day of fresh water fishing.  For those without their own boat dock, there’s a convenient boat ramp to allow all to enjoy the fabulous boating available to all residents of Martin County.

Locks Landing in Stuart Florida

Locks landing is only moments to I-95 for those needing to commute either north or south on the Interstate.  The equestrian farms of Martin County are only a short drive to the west; while to the east is shopping, restaurants, beaches and all the amenities that Martin County has to offer.  This family friendly community also boasts an ‘A’ rated school system with local children attending Crystal Lake Elementary School, David L Anderson Middle School and South Fork High School

Locks Landing in Stuart Florida

To view the current homes available for sale in Locks Landing please select the following link:
Locks Landing Homes for Sale

 

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

Locks Landing in Stuart Florida

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Locks Landing in Stuart Florida


Martin County Florida Condo Market Report for May 2012

Martin County Florida Condo Market Report for May 2012

Commentary:

The Martin County Florida Condo Market for may 2012 continues on a positive trend. Sales for May were a strong 75 units, which equaled the April sales and higher than the past few years. On another positive note, the median sales price rose to $135,000 reflecting some higher to moderate priced condos having sold.  This is the third month we’ve had an increase in median prices.

The inventory declined to 602 condos, down from the 714 condos that were on the market in May of 2011. The one month absorption rate is now at 8.03 months, while the three-month average is down to 8.69 months.  While it remains a somewhat challenging market for condos in Martin County, there are some signs of life as prices across the board have declined significantly. 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.  The May numbers are showing that the condo market is slowly crawling back to life and those units that show ell are in fact selling.  At times for even premium prices by today’s standards.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive. For sellers, it looks like this may be an excellent season coming if there’s no big disruption in the economy.  If you need to sell, you may be better off doing so now than facing the uncertainty of what the future may bring.  Especially if you are paying those condo fees.

Martin County Florida Condo Market Report for May 2012

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Martin County Florida Residential Market Report for May 2012

Martin County Florida Residential Market Report for May 2012

Commentary:

The Martin County Florida residential market report for May 2012 showed surprisingly results. The sales volume of 213 homes was the highest since August of 2005, well before the so-called ‘bubble’ burst.  Along with strong numbers this spring, it certainly indicates that the market is turning for the better.  If this rate of activity continues, I expect to see a strong sellers market developing.  The one month absorption rate for Martin County residential sales is now down to 5.7 months.  This indicates a balanced market, favoring neither seller or buyer.

Both average and median sales prices were up considerably from April. The largest jump in years.  This is not necessarily an indication of rising prices (though some segments of our real estate market are indeed experiencing rising prices), rather, more mid to higher priced homes are selling moving both average and median prices higher.  If it weren’t for the relatively large numbers of short sales, and for Martin County, some foreclosures offered at distressed prices, values would be going higher.  These distressed sales along with a still uncertain economy are holding back prices for now.

Our outlook for Martin County is very optimistic as prices and rates remain at historic low levels. For sellers, homes are selling, and if priced and presented optimally, they are going quickly and for good prices. Buyers are seeing historically low-interest rates and very affordable quality homes in almost all price ranges.  Many buyers, thinking bargains are still to be had are finding themselves outbid over and over again and until they understand the current reality will be out of luck finding that elusive deal.

Martin County Florida Residential Market Report for May 2012

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Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

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