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

03.19.12 by

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

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

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

There are currently 482 active listings (Increase of 8 homes from January)

176 Residential sales are pending and awaiting close or lender approval. (An increae of 15 homes from last month)

49 Homes Sold in February (Increased 17 homes from January)

For the Palm City, zip code 34990, area of Martin County Florida, another positive month in terms of closed sales and future pending sales.  Inventory crept up by a small number, but sales activity remains strong in Palm City residential real estate. Comparing these numbers to February of 2011, when there were 570 active listings, 144 pending sales and 46 homes sold, very similar numbers with a significantly smaller inventory.

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

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

03.17.12 by

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

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

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

There are currently 112 active condo listings (An decrease of 2 condos form January).

34 Condo sales are pending and awaiting close or lender approval (Up 10 condos from January).

8 Condos Sold in June (A decrease of 5 condos from January).

Generally treading water for the Stuart condo market for the area in ZIP code 34997.  Inventory basically unchanged, pending sales were up but closed sales were off.  Last year’s numbers were 121 active listings, 24 pending sales and 3 closed sales.  It certainly appears that we are in a steady state with this level of activity for this segment and this very well may be the new normal.

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

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

03.16.12 by

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

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

There are currently 471 active listings (A decrease of 59 homes from January).

242 Residential sales are pending and awaiting close or lender approval (An increase of 37 homes from January).

60 Homes Sold in January (Up 15 homes from January)

Another positive month for the 34997 zip code area of Stuart Florida.  This segment of the martin County real estate market is just HOT!  Inventory took a huge drop last month while both pending and closed sales were up.  There is an exceptionally large number of contingent sales (pendings) that are awaiting lender approval in the form of short sales.  Hopefully, the majority of these will receive approval and close.

Compared to February of 2011, when there were 641 active listings, 207 pending sales and 36 closed sales, the 34997 area code for Stuart, Florida continues to show great improvement with considerably improved numbers, even with less inventory available.

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

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

03.14.12 by

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

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

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

There are currently 207 active condo listings (Down 18 from last month).

43 Condo sales are pending and awaiting close or lender approval (An increase of 11 condos from January).

25 Condos Sold in February (An increase of 13 condos from January)

The inventory declined fairly sharply in the Stuart condo market for the area in ZIP code 34996.  Sales activity doubled from January and pending sales increased as well.  Very strong signs for this area of the market.  There was a fairly good mix of both Island units and some of the lesser-priced senior condos on the mainland selling last month.

Compared to the end of last year in February of 2011, the numbers were 263 active listings, 46 pending sales and 26 closed sales. Other than a lower inventory of available condos, the numbers are similar to February 2011.

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

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

03.13.12 by

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

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

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

There are currently 183 active listings (Down 7 from January).

35 Residential sales are pending and awaiting close or lender approval (Up 7 from January).

8 Homes Sold in February (Up 2 from January).

The 34996 zip code area of Stuart Florida and the majority of Treasure Coast areas had a strong February market with all tracked categories moving in the right direction.

Comparing the numbers to February of 2011, there were 206 active listings, 30 pending sales and 7 closed sales.  With the inventory continuing to decline, sales levels and pending sales levels remain at or above last year’s levels.  Those properties that are attractive and priced well continue to sell, and often quite fast.

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

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

03.11.12 by

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

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

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

There are currently 148 active condo listings (Down by 6 condos from January).

46 Condo sales are pending and awaiting close or lender approval. (Up 13 from last month)

15 Condos Sold in February (Up 4 units from January).

After a pretty slow start to 2012, the Stuart Condo market for zip code 34994 showed some life in February with all trends moving in the right direction.  Noticeable was a significant jump in pending sales. Compared to February of 2011, when there were 141 active listings, 24 pending sales, and 3 closed sales. The inventory is down from last year, but pending and closed sales remain weak in this market segment. This is increasing pressure for additional price drops unless sales can pick up in the latter part of this season.

In the next few months, the peak season for condos will show what the market can bear for 2012 for the Treasure Coast condo market.

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

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

03.10.12 by

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

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

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

There are currently 148 active listings (Down 5 from January).

43 Residential sales are pending and awaiting close or lender approval (Up 5 from January).

7 Homes Sold in February (Up 1 homes from January)

Stuart’s 34994 ZIP code area continues to show a steady improvement across the board.  Inventory decreased, and pending and closed sales were up.   With a dwindling inventory, we are rapidly approaching the point that buyers will either pay a premium if they want this location or look elsewhere.

Last February at this time, there were 99 active listings, 29 pending sales, and 6 closed sales.

With the lower number of homes on the market this year, it will be interesting to see what happens as we continue in the height of the season these months.

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

Sewalls Point Market Report – Residential, February 2012

03.09.12 by

Sewalls Point Market Report – Residential, February 2012

Sewalls Point Real Estate Snapshot, Residential Sales for February 2012

There are currently 66 active listings (an increase of 7 home for sale from January)

9 Residential sales are pending and awaiting close or lender approval (An decrease of 2 from January)

3 Homes sold in January (Unchanged from January)

Continuing slow results for the Sewalls Point market report.  Inventory has gone up to 66 homes while sales remained slow at 3 closed homes and pending sales were also off from the past couple of months.  This compared to other parts of martin County which had some fairly strong results.  The Sewalls Point price point remains high for many of today’s buyers and this is possibly what is causing the slow activity at present.

Comparing the results to February of 2011, the inventory is down from 69 homes, pending sales were 12 last year and no homes sold.  So while it wasn’t a particularly good month this year, still somewhat better than last year.

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Sewalls Point Market Report – Residential, February 2012

Danforth in Palm City Florida

03.06.12 by

Danforth in Palm City Florida

Danforth in Palm City Florida is a wonderful family subdivision with 335 homes of many sizes and shapes with a true neighborhood feel.  Very well located in palm City off SW Martin Highway and within walking distance of both the Palm City Elementary and Hidden Oaks Middle School.  Both of these schools are top-rated in the Martin County school system as well as in the State of Florida.

Many homes are lakefront with beautiful views and a fantastic private feeling. Yet, this community is within a mile of the new Publix and close to restaurants and medical facilities.  Also just a couple of minutes to Florida’s Turnpike for those wishing to either commute or make a short trip to West Palm Beach or other points just North or South.

Currently, the following homes are for sale in Danforth in Palm City Florida

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Danforth in Palm City Florida

Ocean House at Indian River Plantation in Stuart Florida

03.01.12 by

Ocean House at Indian River Plantation in Stuart Florida

One of the newest buildings in the Indian River Plantation, Ocean House, is also the most magnificent.  Consists of 79 Luxury Condos units of either 2 or 3 spacious bedrooms with amenities galore.  All suites have Ocean views, even the first-floor units, which are in actuality the equivalent of being on the third floor as there are two parking levels for residents to enjoy covered parking.

Ocean House has a newly renovated clubhouse area featuring an updated kitchen with granite countertops and stainless steel appliances.  Two flat-screen televisions and free wi-fi for those that need connectivity.

A heated pool and lanai area that’s perfect for lounging close to the beach, or walking down your private access to enjoy the crystal blue waters of your private Atlantic ocean beach.

Barbecue area with a Tiki Hut for those nights that you want to eat out under the stars.

The Marriott Resort at Indian River Plantation Features:

Indian River Plantation consists of numerous condominium associations and buildings.  All styles from Ocean front to Riverfront and Golf and Tennis villas can be found here.  IRP is associated and co-located with the Marriott Resort and Marina.

Tucked away on Hutchinson Island, the Treasure Coast’s 16-mile lush barrier island is a unique resort that greets guests with the warmth of genuine Southern hospitality.

The Hutchinson Island Marriott Beach Resort and Marina stretches across 200 acres of plantation landscape on Hutchinson Island, bordered on one side by the Atlantic Ocean and by the shimmering Indian River on the other side.

A newly remodeled lobby with sweeping draperies, plantation-style wood furnishings and tropical tones sets the stage for a magical golf getaway. This is the gateway to an array of championship and executive courses, including Nicklaus, Fazio, and Player designs.

Golfers of all skill levels will enjoy the challenging fairways and greens found in the area’s 12 courses. Plantation East, the resort’s own course, meanders throughout the island and is characterized by water on 17 of 18 holes. This 4,042-yard, par-61 executive course requires careful club selection and precision shot-making to overcome constantly changing ocean breezes.

This is the gateway to an array of championship and executive courses, including Nicklaus, Fazio and Player designs.

Golfers of all skill levels will enjoy the challenging fairways and greens found in the area’s 12 courses. The Ocean Club, the resort’s own course, meanders throughout the island and is characterized by water on 17 of 18 holes. This 4,042-yard, par-61 executive course requires careful club selection and precision shot-making to overcome constantly changing ocean breezes.

The Hutchinson Island Marriott offers guests and residents two tiki bars and their Signature Restaurant, the Baha Grille. Thirteen Novagrass tennis courts, miles of unspoiled beaches, water sports, deep sea fishing, and a full-service 77-slip marina anchored on the Indian River round out a perfect vacation of sun and fun.

Resort amenities also include three heated pools with sun decks, game rentals from the Activities Hut, two outdoor spas and supervised activities for both children and teens.

Ocean House at Indian River Plantation in Stuart Florida

Hutchinson Island Condos For Sale

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Martin County Florida Condo Market Report for January 2012

02.26.12 by

Martin County Florida Condo Market Report for January 2012

Commentary:

Much like the residential segment of the Martin County real estate market, the Martin County Florida Condo Market Report for January 2012 retreated for the first month of 2012.  Sales for January were an anemic 37 units, down from January of 2011 (42 units)  and also off from December which had 52 sales.  On a positive note, the median sales price was at it’s highest level in over a year.  Unfortunately, I don’t believe that this represents a rise in prices, but rather the mix of types of units that have sold.  There is still too much inventory in some segments to sustain a continued rise in prices, though we are reaching very near the bottom of the market, if we haven’t already passed it.

The inventory is now down to 664 condos, which is down from 673 last month and from 774 in January of 2011.  A decreased inventory generally will trigger an increase in demand as the supply of existing units just isn’t available increasing the urgency for buyers.

Unfortunately the absorption rate remains troubling on the higher end, with January’s one month value of almost 18 months and the three month moving average is now up to 16.2 months. said another way, it’s averaging well over a year for the average condo to sell in Martin County, Florida.  We need to get the absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

The big uncertainty that remains is the economy. We believe that if we have any sustained good news, we will see a pretty good rush on the market which will be a nice change from the present. For the longer term, even though we have the best mortgage rates in history at the moment, inflation is making news and this is not good for rates down the line. The Fed is working hard to keep rates down, but for how long, we’re just not to sure.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive. For sellers, it doesn’t look like we’re going to see any significant improvements soon, so if you need to sell, you may be better off now than possibly in the near future.

Click on the individual charts to see charts in expanded mode.

Martin County Florida Condo Market Report for January 2012

the Gabe Sanders real estate team

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

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Martin County Florida Residential Market Report for January 2012

02.26.12 by

Martin County Florida Residential Market Report for January 2012

Commentary:

The Martin County Florida residential market report for January 2012 starts the year on a slow note. Sales volume (98 units) was up as compared to last year (85) but considerably down from December (160). The one-month absorption rate shot up to14.5 months while the three-month moving average is at a more respectable 10.7 months.  Activity does appear to be high though and I expect that the January numbers reflect slow closings from the slow holiday season (as closings tend to lag from one to three months after the contracts are agreed upon.

The average sales price was up slightly from last year, while the median price was down.   Prices seem to be holding pretty steady at this time in most segments of the market and quality homes that are priced well are selling quickly.  The inventory remained stable (up only by two homes).

Our outlook for Martin County remains 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. Buyers are seeing historically low-interest rates and very affordable quality homes in almost all price ranges.

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

Click on the individual charts to see charts in expanded mode.

Data compiled from the Realtor Association of Martin County

Residential Market Report for January 2012 in Martin County, Florida

the Gabe Sanders real estate team

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

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

02.25.12 by

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

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

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

There are currently 32 active condo listings. (Down 5 from last December)

3 Condo sales are pending and awaiting close or lender approval. (Down 4 from December)

5 Condos Sales closed in January (Unchanged from December)

The Hobe Sound condo market (Zip Code 33455) is a very small segment of both Hobe Sound real estate as well as the smallest condo market on the Treasure Coast.  January showed a continuing decrease in inventory.  Pending sales were down and closed sales remained unchanged.  With such a low inventory, I don’t expect to see any great movement in this segment of the Treasure Coast Florida condo market.    Last January’s numbers were 53 active listings, 4 pending sales, and no closed sales.

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

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

02.24.12 by

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

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

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

There are currently 359 active listings. ( An increase of 29 homes from December)

78 Residential sales are pending and awaiting close or lender approval (An increase of 20 homes from December)

22 Homes Sold in January (A decrease of 6 homes from last month)

The Hobe Sound real estate market (ZIP Code 33455) had a fairly dramatic rise in inventory for January.  The good news is that activity was up as pending sales also rose significantly.  There was a fairly small drop in closed sales.
Compared to last January, we had 388 active listings, 57 pending sales, and 18 closed sales.  Fairly close to last year’s figures, but all this with less inventory.

Provided we don’t see a drastic increase in distressed properties (short sales and bank-owned foreclosures), we should be in line for a good performance from the Hobe Sound real estate market in 2012.

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

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

02.23.12 by

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

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

For January 2012 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :
(Due to technical difficulties the December Market Snapshot data was unavailable)

There are currently 70 active listings. (Up 5 from December)

16 Condo sales are pending and awaiting close or lender approval. (Up 5 condos from December)

7 Condo Sold (An increase of 1 condo from December)

This is the second month of improved results for the Jensen Beach Florida Condo Market (ZIP Code 34957).  The inventory ticked up a little in January, but this isn’t necessarily bad news the amount of available products is fairly low.  Pending sales were up as well as a small increase in closed sales.   Last January there were 61 active listings, 20 pending sales, and 5 closed sales.  Basically unchanged over the year.

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Jensen Beach Florida Real Estate presented by:
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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, January 2012

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

02.22.12 by

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

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

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

There are currently 293 active listings. (An increase of 14 homes from last month)

96 Residential sales are pending and awaiting close or lender approval. (Up 21 homes from December)

23 Homes Sold (Down 2 from December)

The Jensen Beach real estate market (ZIP Code 34957) showed an inventory this month.  The good news is that there was a significant increase in pending sales which shows good activity and should result in increased closed sales in the near future.  Closed sales were off slightly.   Last January there were 185 active listings, 69 pending sales, and 8 closed sales.   Jensen beach, unlike most other segments of our market on the Treasure Coast, has shown an increase in inventory over the past year.

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

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

02.21.12 by

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

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

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

There are currently 68 active condo listings. (Up 3 from December)

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

3 Condos Sold in January. (Up 2 from December)

     The 34990 zip code area of the Palm City condo market is a fairly small section of this area as most property in Palm City is either single-family homes or townhomes. With only 68 currently active listings, it is not a very large market. Last year there were 76 active listings, and the market was more active with 8 pending sales and 2 closed sales compared to this year’s 6 and 3 respectively. The condo market overall remains significantly more sluggish as compared to the single-family residential market but Palm City did see some positive movement for January.

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Palm City Florida Real Estate presented by:
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Palm City Florida Market Report ZIP Code 34990 – Condo, January 2012

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

02.20.12 by

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

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

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

There are currently 474 active listings (Decreased by 4 homes from December)

161 Residential sales are pending and awaiting close or lender approval. (An increase of 47 homes from last month)

32 Homes Sold in January (Decreased 25 homes from December)

     For the Palm City, zip code 34990, area of Martin County Florida, it was an exceptionally strong month for contracts written, reflected in the big jump in pending sales. Unfortunately, sales were off by 25 homes, but this number should be much better in the coming months as the pending sales close.

     Comparing these numbers to January of 2010, when there were 584 active listings, 136 pending sales, and 29 homes sold, showing better numbers with a significant decrease in inventory.  The Palm City real estate market continues to show improvement.

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

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

02.19.12 by

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

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

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

There are currently 114 active condo listings (An increase of 8 condos form December).

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

13 Condos Sold in June (A decrease of 2 condos from December).

At the beginning of 2012, a continuing strong trend for the Stuart condo market for the area in ZIP code 34997. Slight increase in inventory with minor changes in both pending and closed sales.

This is compared to last year’s numbers when there were 134 active listings, 19 pending sales, and 15 closed sales. Pretty similar results, but this with a lower inventory.

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Stuart Florida Real Estate presented by:
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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for January 2012

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

02.18.12 by

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

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

There are currently 530 active listings (An increase of 8 homes from December).

205 Residential sales are pending and awaiting close or lender approval (An increase of 29 homes from December).

45 Homes Sold in December (Down 33 homes from December)

Another positive month for the 34997 zip code area of Stuart Florida.  Closed sales were off from a powerful end-of-year result in December, but future sales (pendings) are showing great strength and this market appears to be headed in the right direction.

Compared to January of 2011, when there were 635 active listings, 164 pending sales, and 23 closed sales, the 34997 area code for Stuart, Florida continues to show significant improvement with considerably improved numbers, even with less inventory available.

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