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

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

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

There are currently 143 active condo listings (Down 10 condos from July).

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

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13 Condos Sold in August (Decreased by 4 condos from July).

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Somewhat surprisingly strong results for the Stuart Condo market for zip code 34994.  While sales were off by 4 condos, pending sales were up by a significant 13 units.  The available inventory also decreased significantly.  The one month absorption rate is at 11.8 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 August the numbers were 136 active listings, 43 pending sales, and 16 closed sales.  There is still great room for improvement in this segment of the Stuart Florida condo market.

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

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

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

There are currently 153 active condo listings (Up 13 condos from June).

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30 Condo sales are pending and awaiting close or lender approval. (Down 10 from last month)

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17 Condos Sold in July (Increased by 5 condos from June).

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The Stuart Condo market for zip code 34994 showed an increase in closed for July, after a disappointing June. A little bit of a surprise as we head into the historically slower season for condo sales.   Pending sales were off by 25% and also a surprise, we’ve had the first increase in inventory in quite some time.  Most sales were in the more modest categories of under $80,000.

The one month absorption rate for this market is now 9 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.

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.

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

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

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

There are currently 147 active condo listings (Up by 4 condos from March).

43 Condo sales are pending and awaiting close or lender approval. (Down 1 from last month)

15 Condos Sold in April (Unchanged from March).

The Stuart Condo market for zip code 34994 showed little change in April with very similar numbers from the previous two months.  We’ve also had the first uptick in inventory in a few months as some sellers may feel the time is right to put their condo on the market.

In April of 2011 the numbers were: Active – 144, Pending – 50 and Sales – 25. Compared to last year, we are slightly below expectations.

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

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

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

There are currently 143 active condo listings (Down by 5 condos from February).

44 Condo sales are pending and awaiting close or lender approval. (Down 2 from last month)

15 Condos Sold in March (Unchanged from February).

The Stuart Condo market for zip code 34994 showed continued momentum in March with very similar numbers from the previous month. Of note, is the fact that the inventory continues to decline while sales and pendings remained steady.

In March of 2011 the numbers were: Active – 144, Pending – 50 and Sales – 25.  Compared to last year, we are slightly below expectations.

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.