Search Results for: high point market report

Sewalls Point Single Family Market Report March 2016

Sewalls Point Real Estate Snapshot, Residential Sales for March 2016

There are currently 70 active listings (Up by 14 homes since last month)

14 home sales are pending and awaiting close or lender approval (Increased by 2 homes from February)

6 Homes sold in March (No change in sales from February)

The single family real estate market in Sewalls Point had a surprising increase in inventory for March while sales remained unchanged, thus pushing the absorption rate higher. Pending sales were up slightly. There does seem to be increasing activity in Sewalls Point, though it does remain a slower moving market as many of the Sewalls Point properties are in the higher end range of the Martin County real estate market.

The current absorption rate rose to 11.7 months, in February it was 9.3 months. Still a great buyers market for Sewalls Point. A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to March of 2014, the inventory was 72 homes on the market, 17 pending sales and there were 3 closed sales. Better closed activity when compared to last year and the inventory is also approaching last years numbers.

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Sewalls Point Single Family Market Report March 2016

Sewalls Landing April 2016 Market Report

04.03.16 by Gabe Sanders

Sewalls Landing April 2016 Market Report

As of April 2016, there are two homes available for sale in Sewalls Landing, List prices are $449,000 and $900,000 for an average list price of $674,500 or $223.00 per sq. ft. of living area.

There are no homes currently under contract in Sewalls Landing.

In the past 12 months, 5 Sewalls Landing homes have sold. Sales prices ranged from $405,750 to $1,100,000 for an average sales price of $648,750 which equals $223.42 per sq. ft. of living area. These sales averaged for 94% of list price and the homes averaged going under contract after 97 days on market.

There were no short sales or foreclosures (distressed sales) in any Sewalls Landing transactions this year.

Sewalls Landing is located at the northern tip of Sewalls Point, FL in Martin County. Officially it is in Jensen Beach, but many residents of Sewalls landing consider themselves part of Sewalls Point. Just across the street from the Dolphin Bar and Grill and within walking distance of marinas, boat ramps, Indian Riverside Park and much, much more.

This gated community consists of 51 home-sites (including 3 lots that are still vacant). Homes in Sewalls Landing were built from 1992 to 2008 and are situated on generous sized lots from just under ½ acre to over ¾ of an acre. Home sizes range from 2,000 to over 5,000 square feet of living areas. Many homes feature 3 car garages. Residents enjoy low HOA fees of $110 per month.

Children attend Felix Williams Elementary, Stuart Middle and Jensen Beach High Schools. Easy access to the beaches as it’s just about equidistant from both the Stuart and Jensen Beach Causeways. Close to shopping and medical facilities as well. This is a much sought after community in Martin County, FL.

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Sewalls Landing April 2016 Market Report

Sewalls Point Single Family Market Report February 2016

03.10.16 by Gabe Sanders

Sewalls Point Single Family Market Report February 2016

Sewalls Point Real Estate Snapshot, Residential Sales for February 2016

There are currently 56 active listings (Down by 1 homes since last month)

12 home sales are pending and awaiting close or lender approval (Decreased by 3 homes from January)

6 Homes sold in February (Up by 2 sales from January)

The single family real estate market in Sewalls Point showed better closed numbers for February. Though, there’s still room for improvement. We are seeing some fairly steady sales in the higher price ranges in Sewalls Point which is a good sign.

The current absorption rate dropped to 9.3 months, in January it was 14.25 months. Still a buyers market for Sewalls Point. Though, if the trend for improving sales continue, this may soon come to an end. A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to February of 2014, the inventory was 68 homes on the market, 8 pending sales and there were 3 closed sales. Much improved activity when compared to last February.

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Sewalls Point Single Family Market Report February 2016

Sewalls Point Single Family Market Report January 2016

02.10.16 by Gabe Sanders

Sewalls Point Single Family Market Report January 2016

Sewalls Point Real Estate Snapshot, Residential Sales for January 2016

There are currently 57 active listings (Up by 6 homes since last month)

15 home sales are pending and awaiting close or lender approval (Increased by 2 homes from December)

4 Homes sold in January (Up by 1 sales from December)

The single family real estate market in Sewalls Point remains challenging as many of the homes in this community are in the higher end of the price spectrum or some homes are older and in need of updating and the sellers feel the cache of this exclusive community warrants the listing price.

The current absorption rate dropped to 14.25 months, in December it was 17 months. Still a strong buyers market for Sewalls Point. Though, if the trend for improving sales continue, this may soon come to an end. A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to January of 2014, the inventory was 58 homes on the market, 10 pending sales and there were 3 closed sales. With very similar inventory, market activity is better for 2016 than for last year in Sewalls Point, but still plenty of room for improvement.

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Sewalls Point Single Family Market Report January 2016

Rocky Point Estates January 2016 Market Report

01.02.16 by Gabe Sanders

Rocky Point Estates January 2016 Market Report

There are currently 3 homes available for sale in Rocky Point Estates. List prices are from $239,900 to $269,000 for an average list price of $257,966 which equals $168.62 per sq. ft. of living area.

Two homes are under contract. List prices are $329,000 and $375,000 for an average list price of $352,000 or $196.75 per sq. ft. These two homes averaged only 6 days on the market prior to receiving an accepted offer.

In the past 12 months, 13 homes have sold in Rocky Point Estates. Sales prices ranged from $200,000 up to $430,000 for an average sales price of $294,307 which works out to $170.66 per sq. ft. of living area. These homes sold for an average of 95% of the last list price and in 81 days of being on the market prior to receiving an accepted offer.

Rocky Point Estates

Rocky Point Estates is an HOA community in the eastern middle of Rocky Point. Homes on Orange St, Nassau Ter. and the north side of Matousek St. had the opportunity to join this HOA when it was developed and for the sum of $75.00 per year, members have access to a large park with a boat ramp and picnic grounds available for their exclusive use. In addition to the ramp and picnic area, there’s a 29 slip marina suitable for boats up to 30’ in length. These docks can only be owned (or leased) by members in good standing within the Rocky Point Estates HOA community. Individuals within Rocky Point Estates have the option to sell or trade docks within the community.

This boat ramp and the docks are in a highly desirable location that’s only about a mile or so from the open waters of the Atlantic Ocean through the Saint Lucie Inlet. Fisherman in this community love the fact that they can be casting their lines in deep water just minutes after leaving the dock or ramp.

There are just over 170 homes belonging to the association. Homes were first built in this community in 1959 and the latest home was just completed in 2014. Homes are of all styles and sizes ranging from 5 bedroom, 4 bathroom home on almost a half-acre down to under 1,000 sq. ft., 2 bedroom, 1 bathroom homes on under a quarter of an acre lots.

Children residing in Rocky Point Estates attend the Martin County School District with current assignments to Port Salerno Elementary, Murray Middle and South Fork High Schools. Residents are also close to a number of wonderful restaurants and first class medical facilities.

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Rocky Point Estates January 2016 Market Report

Joes Point October 2015 Market Report

10.16.15 by Gabe Sanders

Joes Point October 2015 Market Report

As of October there is only one active listing in Joes Point. It is listed at $1,870,000 or $525.58 per sq. ft. of living area.

One home is pending (under contract) which was listed for $969,900 or $315.11 per sq. ft. and was on the market for 50 days prior to going under contract. This is a bank owned foreclosure.

In the past 12 months, one home has sold in this waterfront community. The sales price was $1,195,000 which equals $381.55 per s. ft. This home went under contract in 45 days and sold for 91% of the list price.

One of the most unusual properties on Stuart’s Hutchinson Island is Joes Point. Located on a private peninsula which juts to the north west into the mile wide Indian River (Intracoastal Water Way). Originally developed by Lloyd Dutcher in the early 1980’s this is a premier waterfront subdivision enjoying the many wonderful amenities of Hutchinson Island in Martin County. Only minutes to the Saint Lucie inlet and the sparkling Atlantic Ocean by boat, with easy access to the Bahamas or through the Okeechobee water way through the heart of Florida to the Gulf of Mexico by boat. This is a true boaters paradise. Abundant fishing is just off the dock or go just a few minutes further for some deep sea fishing and adventure.

Joes Point has 56 home sites (3 are vacant lots at this writing) of which most are waterfront with private docks and sweeping water views of the Intracoastal Waterway (Indian River). There are 8 non-waterfront homes, though they have docks in the community marina which is just a short walk from these homes. There is also a community RV/Boat storage area as well as a tennis court. HOA fees as of late 2015 were under $245 per month and include central water and sewer service.

Pets are welcome as well as having the ability to rent these homes. This is a gated community offering a high level of privacy on the shores of the Indian River. Beach access is across A-1-A in a private and HOA owned beach area.

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Palm Pointe and Palm Isles October 2015 Market Report

10.07.15 by Gabe Sanders

Palm Pointe and Palm Isles October 2015 Market Report

There are currently 4 active listings in Palm Pointe and Palm Isles. list prices are from $214,120 up to $324,990 with an average list price of $260,752 which is equal to $133.94 per sq. ft. of living area.

At this time, there are 4 homes under contract which have not closed yet. List prices range from $229,000 and $334,750 with the average list price of $288,375 which works out to $137.92 per sq. ft. of living area. These homes were on the market for an average of only 11 days prior to going under contract.

7 homes have sold in the past 12 months. Sales price ranged from $143,000 to $240,000 with the average sales price of $207,696 which is $112.01 per sq. ft. of living area. These homes were on the market for an average of 59 days prior to going under contract and sold at an average of 94% of list price.

Palm Pointe and Palm Isles are adjoining communities in Palm City just east of High Meadow Rd between Martin Downs Blvd and Martin Hwy. These gated communities are conveniently located close to both Florida’s Turnpike and I-95 making it a great location for those who commute to parts north or south for work, yet want to take advantage of the great school system and amenities that Martin County has to offer. Also within easy reach of shopping, restaurants and medical facilities as well as the many boat ramps and Marinas of Martin County.

There are a total of 128 homes that were built from 1990 through 1996 for Palm Pointe and 1999 to 2001 for Palm Isles. These two communities share a community pool, tennis courts and a playground.

Homes range in size from 2 bedroom, 2 bathroom homes of around 1,400 sq. ft. of living space plus a two car garage, up to 4 bedroom, 4 bath homes of around 2,400 sq. ft. plus garage. Many homes in these communities have their own private pools and a lucky few have wonderful lake views.

As of October 2015 HOA fess were just over $200 a month and this community allows large pets and rentals. There are vehicle restrictions for commercial trucks.

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Palm Pointe and Palm Isles October 2015 Market Report

Lighthouse Point and Seagate Harbor September 2015 Market Report

09.02.15 by Gabe Sanders

Lighthouse Point and Seagate Harbor September 2015 Market Report

There are currently 15 homes on the market in Lighthouse Point and Seagate Harbor in Palm City, FL. From a low price of $419,000 to a high of $949,000 with an average asking price of $682,313 which equals $289.24 per square foot of living area.

There is only one home under contract. The listing price of this pending home is $899,000 or $317.20 per square foot of living area.

24 homes have sold in Lighthouse Point and Seagate Harbor in the past 12 months. Sale prices were from $175,350 to $1,392,500 with an average sales price of $511,795 or $233.91 per square foot of living area. These homes sold on average in 82 days and at 94% of the listed price.

A boater’s and sailor’s Delight in an affordable waterfront niche community with deep water dockage! Nature and families are the focus in this desirable community characterized by beautiful homes, parks, nearby golf, restaurants, shopping, and A Rated schools!

Almost every home has waterfront dockage available in an intricate network of deep water canals. Some select homes with wide views of the Saint Lucie River. A community boat ramp is also available. Everything a boater would want!

The homeowner’s association is very reasonable at only $50 and $75 per year, most of which goes towards a number of great community get togethers throughout the year. These two neighboring communities are in the ‘A’ rated Martin County school system with local children currently zoned fir Bessey Creek Elementary, Hidden Oaks Middle and Martin County High Schools.

There are no fixed bridges to the open Ocean (Only high span 60’ +). The canals are maintained and dredged to a 6’ depth. In recent years sewer and city water have been brought to these communities which has resulted in the transformation starting to take place in this waterfront neighborhood as homes are being torn down or renovated to larger and more state of the art structures.

Those looking for affordable waterfront in the Martin County area may want to act sooner than later as current prices have been rising rapidly.

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Lighthouse Point and Seagate Harbor September 2015 Market Report

Sewalls Point Single Family Market Report July 2015

08.10.15 by Gabe Sanders

Sewalls Point Single Family Market Report July 2015

Sewalls Point Real Estate Snapshot, Residential Sales for July 2015

There are currently 58 active listings (Decreased by 3 homes since last month)

12 home sales are pending and awaiting close or lender approval (Down by 3 homes from June)

5 Homes sold in July (Up by two sales from June)

The Sewalls Point single family homes market continues to face some challenging volume of sales, though there were some excellent closings on the higher end of the market for June. Also, a nice decrease in inventory will bring back some activity for the near future to Sewalls Point.

The current absorption rate dropped to 11.6 months, in June it was 20.3 months. Still plenty of room for improvement. A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to July of 2014, the inventory was 48 homes on the market, 13 pending sales and there were 5 closed sales. Other than a larger inventory, last years sales activity is almost identical to this year.

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Sewalls Point Single Family Market Report July 2015

Danforth in Palm City August 2015 Market Report

08.05.15 by Gabe Sanders

Danforth in Palm City August 2015 Market Report

As of August, 2015:

There is currently only 1 active listings for sale in Danforth. This home is on the market for $399,900 which equals $139.73 per sq. ft. of living area.

6 homes are currently under contract. The list prices of these pending sales range from $348,900 to $439,900 with the average being $385,950 which equates to an average price per sq. ft. of living area of $170.21.

In the past 12 months 19 homes have sold in Danforth. The sales prices ranged from $242,000 to $395,000. The average sales price was $332,505 or $135.64 per sq. ft. of living area. These sold listings averaged 52 days on the market before going under contract and sold at 95% of the list price.

Danforth in Palm City Florida is wonderful family subdivision with 335 homes of all sizes and shapes with a wonderful family friendly neighborhood feel. Well located in palm City off SW Martin Highway and within walking distance of both the Palm City Elementary and Hidden Oaks Middle Schools. 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 wonderful private feeling, yet this community is within a mile of the new Publix and also close to restaurants and medical facilities. Easy access to downtown Stuart as well via the new Veteran’s Memorial Bridge from Palm City to Stuart. Also just a couple of minutes to Florida’s Turnpike for those wishing to either commute or to make a short trip to West Palm Beach or other points just North or South.

Danforth features low HOA fees of $328.00 per quarter (as of July 2015). Construction in Danforth was first completed in 1990 with most homes dated from then to the late 1990’s and at least one home completed in 2001. This planned unit development (PUD) was developed by Danforth Development Inc. and various builders took part in the construction of the homes. Here is the Danforth Home Owners Association web site. Danforth just added an remote code controlled entry gate system in 2014.

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Danforth in Palm City August 2015 Market Report

U.S. Report & Our Treasure Coast Real Estate Investment Outlook

07.25.15 by Gabe Sanders

U.S. Report & Our Treasure Coast Real Estate Investment Outlook

Last week’s reporting showed the same kind of upward movement that’s become commonplace for Treasure Coast real estate investment news watchers. A standout: Corelogic’s finding that national home prices in May increased by 6.3%, marking the 39^th consecutive monthly year-over-year increase.

Actually, to a lot of us, that looked stronger than expected: the steady increase in U.S. sale prices had seemed to have leveled off in the 5% range for the most part…Corelogic’s own Chief Economist had prognosticated, “We expect house prices in our national index to be up about 5 percent in the next 12 months” just 30 days ago.

Those who track U.S. real estate investment performance for its Stuart FL implications, two other interesting observations were noteworthy. First, even including distressed sales, prices have now risen to within 8.4% of the April 2006 peak—what is generally considered an unsustainable “bubble.” Yet it’s impossible to find any expert who believes the current price levels are indicative of anything of the kind; nor that the expected continuing rises would expose those making residential real estate investments to equivalent risk levels. Except in a very few localities, there is scarcely any “bubble” speculation to be found—even as national price increases continue to outpace inflation.

Part of the reason is that supply continues to be tight; distressed property sales continue to decline; and overall U.S. economic conditions are perceived to be improving, however gradually. Corelogic also keeps track of sales and momentum for different price ranges, which perform differently, as real estate investment analysts know. The lowest-priced tier, which represents to most modestly priced 25% of homes, has now actually surpassed its pre-crisis peak…and the highest end of luxury residences (the top 25%) are within 5.7% of their peak.

The second point made in last week’s reporting was continuing good news for those whose real estate investment portfolios include rental properties. Apartment vacancy rates “are down to their lowest level since the 1980s” according to Economist Frank Nothaft. “Rents are up, and apartment building values are at or above their prior peaks.”

The robust performance wasn’t confined to multiple-unit housing, either. Following the housing crash—between 2006 and 2013—3,000,000 detached single family homes were added to the nation’s rental stock. They now make up 40% of the market. In terms of their real estate investment performance, the combination of rising rental rates and shrinking vacancy rates are exactly what investors hope to see. For regular homeowners, too—even those with no plans to sell anytime soon—those 39 straight months of steady price appreciation is comforting news. And if you are watching this summer’s Treasure Coast real estate listings for the investment opportunities they represent, I hope you’ll give me a call!

U.S. Report & Our Treasure Coast Real Estate Investment Outlook

Sewalls Point Single Family Market Report April 2015

05.13.15 by Gabe Sanders

Sewalls Point Single Family Market Report April 2015

Sewalls Point Real Estate Snapshot, Residential Sales for April 2015

There are currently 79 active listings (Increased by 7 homes since last month)

11 home sales are pending and awaiting close or lender approval (Down by 6 homes from March)

6 Homes sold in April (Increased by 3 homes from March)

The Sewalls Point single family homes market activity remains challenging for sellers. Though buyers have some excellent choices and opportunities at the present time. Closed sales doubled from last month, though the inventory is quite high and pending sales decreased.

The current absorption rate dropped to 13.2 months, in March it was 24 months. Much improved from last month, but still a buyer’s market. A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to April of 2014, the inventory was 58 homes on the market, 13 pending sales and there were 5 closed sales. Other than 1 additional closed sale this year, last years activity was better when considering the lower inventory.

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Sewalls Point Single Family Market Report April 2015

Sewalls Point Single Family Market Report December 2014

01.10.15 by Gabe Sanders

Sewalls Point Single Family Market Report December 2014

Sewalls Point Real Estate Snapshot, Residential Sales for December 2014

There are currently 58 active listings (Up by 1 home October)

8 Residential sales are pending and awaiting close or lender approval (No change from last month)

5 Homes sold in December (Decreased by 1 home from October)

The Sewalls Point single family homes market activity for December 2014 continues to struggle, though there were three luxury sales in December for the high end market. While this is an improvement from the summer months, there’s still plenty of room for growth. Closed sales were down by 1 home while the inventory rose bu 1 also. Pending sales remained unchanged.

The current absorption rate is 11.6 months, in September it was 9.5 months. Sewalls Point remains a buyers market for December. A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to December of 2013, the inventory was 43 homes on the market, 8 pending sales and there were 5 closed sales. Identical numbers for closed and pending sales from last year, but this was with a lower number of available homes.

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Sewalls Point Single Family Market Report December 2014

Sewalls Point Single Family Market Report July 2014

08.11.14 by Gabe Sanders

Sewalls Point Single Family Market Report July 2014

Sewalls Point Real Estate Snapshot, Residential Sales for July 2014

There are currently 48 active listings (Down by 5 homes from June)

13 Residential sales are pending and awaiting close or lender approval (Up by 2 homes from last month)

5 Homes sold in July (Unchanged from June)

The Sewalls Point single family homes market activity for July 2014 had the same number of closed sales as in June (and May). The pending numbers rose slightly, while the available inventory is down for the third month in a row. Activity for the Sewalls Point market has increased, though the decrease in inventory could be troubling for future sales.

The absorption rate is currently 9.6 months better than last months 10.6 but still of room for improvement. It’s not unusual to see a somewhat higher absorption rate for Sewalls Point as we are dealing with generally higher valued properties that can take a bit longer to sell on average. A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to July of 2013, the inventory was 47 homes on the market, 7 pending sales and there were 3 closed sales. Much better results for July of 2014.

Sewalls Point, FL Real Estate

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Sewalls Point Single Family Market Report July 2014

Danforth in Palm City August 2014 Market Report

08.07.14 by Gabe Sanders

Danforth in Palm City August 2014 Market Report

As of August, 2014:

There are currently 4 active home listings for sale in Danforth. Prices range from $310,000 to $350,000. The average price is $334,750 which represents $136.47 per square ft. of living area. None of these homes are foreclosures or short sales.

2 homes are currently under contract. Both of these homes are bank owned. Listing prices range from $239,000 and $270,000. The average per sq. ft. of living is $123.73.

In the past 12 months 20 homes have sold in Danforth. The sales prices ranged from $270,000 to $348,834. Two of these homes were bank owned and one was a short sale. The average sales price was $304,992 at $130.62 per sq. ft.

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

Danforth features low HOA fees of $304.00 per quarter (as of Sept. 2012). Construction in Danforth was first completed in 1990 with most homes dated from then to the late 1990’s and at least one home completed in 2001. This planned unit development (PUD) was developed by Danforth Development Inc. and various builders took part in the construction of the homes. Here is the Danforth Home Owners Association web site.

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Danforth in Palm City August 2014 Market Report

March 2014 Monthly Market Detail Martin County Townhouses and Condos

04.29.14 by Gabe Sanders

March 2014 Monthly Market Detail Martin County Townhouses and Condos

March 2014 Monthly Market Detail Martin County Townhouses and Condos report showed continued disappointing results as to both last year and the past few months. Year to year closed sales were down by 29.9% (was down by 1% in February) while new sales under contract (new pending sales) decreased by 9% (was down 27% in February).

The median sales price increased by 7.4% (was up by 17.6% in February) while the average sales price decreased by 11% (was up 20.6% in February) as compared to March of 2013. As the price increases moderate, I would expect to see some increased volume of closed and pending sales for the future.

The inventory of available townhouses and condos has decreased by 39 to 596 units from last month which is 13.2% less inventory than was available in March of 2013. With values going up as much as they have, I would have expected higher inventory levels. The current supply of inventory is 6.2 months (a 16.5% decrease from last year). Though down in volume from last year, this is still a balanced market that favors neither the buyer nor the seller.

Click here to view or download the full report: March 2014 Monthly Market Detail Martin County Townhouses and Condos

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

March 2014 Monthly Market Detail Martin County Townhouses and Condos

February 2014 Monthly Market Detail Martin County Townhouses and Condos

04.02.14 by Gabe Sanders

February 2014 Monthly Market Detail Martin County Townhouses and Condos

February 2014 Monthly Market Detail Martin County Townhouses and Condos report showed some disappointing results as to volume of activity, though prices continued to soar. Year to year closed sales were down by 1% (was up by 4.3% in January) while new sales under contract (new pending sales) decreased by 27% (was down 20.9% in January).

The median sales price increased by 17.6% (was up by 15.2% in January) while the average sales price increased by 20.6% (was up 15.2% in January) as compared to February of 2013. These large price increases are most likely responsible for the drop in volume as many buyers are simply being priced out of the market.

The inventory of available townhouses and condos has decreased by 3 to 635 units from last month which is 15% less inventory than was available in February of 2013. With values going up as much as they have, I would have expected higher inventory levels. The current supply of inventory is 6.4 months (a 24.4% decrease from last year).

Click here to view or download the full report: February 2014 Monthly Market Detail Martin County Townhouses and Condos

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

February 2014 Monthly Market Detail Martin County Townhouses and Condos

Sewalls Point Homes for Sale and Sold Report December 2013

01.07.14 by Gabe Sanders

Sewalls Point Homes for Sale and Sold Report December 2013

Sewalls Point Real Estate Snapshot, Residential Sales for December 2013

There are currently 43 active listings (a decrease of 3 homes for sale from November)

8 Residential sales are pending and awaiting close or lender approval (Up 1 home from last month)

5 Homes sold in November (Up by 4 homes from November)

After a disappointing November, the Sewalls Point market activity rebounded a bit for December 2013 to end the year fairly well. Back to 5 closed sales for December. The inventory decreased again and pending sales had a slight increase.

The absorption rate decreased to 8.6 to months compared to last months 46 months. Still a slight buyers’ market. A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to December of 2012, the inventory was 36 homes on the market, 8 pending sales and there were 6 closed sales. Interestingly we have a higher inventory this year and 1 less sale. Still better numbers than last month.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:

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Sewalls Point, FL Real Estate

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Sewalls Point Homes for Sale and Sold Report December 2013

Stuart Florida Market Report ZIP Code 34997 Residential November 2013

12.16.13 by Gabe Sanders

Stuart Florida Market Report ZIP Code 34997 Residential November 2013

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for November 2013

There are currently 396 active listings (Increased by 15 homes from October).

143 Residential sales are pending and awaiting close or lender approval (A decrease of 28 homes from October).

71 Homes Sold in November (Up by 9 homes from October)

Mostly positive signs from the Stuart Florida Market Report ZIP Code 34997 residential real estate market. Unlike many other areas of Martin County the 34997 zip code had a significant rise in inventory in the past two months. Closed sales were also up. The only point of some concern was a drop in pending activity for November.

The current one month absorption rate dropped to 5.6 months making this segment of the Stuart residential market once again a seller’s market (up from last months 6.15 month absorption rate). Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7 month absorption rate.

The 2012 numbers were: 359 active listings, 191 pending listings and 44 closed sales. Interestingly there’s a significantly higher inventory for this segment of the Martin County real estate market. Closed activity is much higher for this year. While the number of potential future sales (pending inventory) is a bit worrisome this month.

Please use the charts below as reference only as they rely on all residential types of property in the 34997 real estate market:

Stuart Florida Market Report ZIP Code 34997 Residential November 2013

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Stuart Florida Market Report ZIP Code 34997 Residential November 2013

Sewalls Point Residential Market Report September 2013

10.13.13 by Gabe Sanders

Sewalls Point Residential Market Report September 2013

Sewalls Point Real Estate Snapshot, Residential Sales for September 2013

There are currently 49 active listings (an increase of 3 homes for sale from August)

7 Residential sales are pending and awaiting close or lender approval (Up 1 from last month)

2 Homes sold in August (A decrease of 5 homes from August)

The Sewalls Point residential real estate market is having a slow summer. For September 2013 sales were down significantly as only 2 homes sold. Pending sales were up by 1 home, though still not a very high number. We are into the slower months of our real estate market and there is also a lot of unease with the current economy, so we will hope for an increase in activity soon. Though it may not happen till after the holidays.

The absorption rate jumped dramatically to 24.5 months. Once again into a buyers market. A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to September of 2012, the inventory was 50 homes on the market, 20 pending sales and there were 3 closed sales. The biggest difference from last year is the much lower pending inventory in 2013. Not a good sign for sales in the immediate future.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:

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Stuart Florida Market Report ZIP Code 34997 Residential November 2013

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Stuart Florida Market Report ZIP Code 34997 Residential November 2013

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