Stuart FL 34994 Condo Market Report July 2016

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for July 2016

For July 2016 in the 34994 Zip Code area of Stuart, Florida :

There are currently 74 active condo listings (Down by 2 condos from June).

29 Condo sales are pending and awaiting close or lender approval. (Decreased by 1 condos from last month) 

10 Condos Sold in July (Down by 17 condos from June).

The Stuart FL 34994 Condo market entered the summer doldrums for the month for July of 2016.  Closed sales were down significantly while pending sales remained strong on reduced inventory levels.

The absorption rate for July jumped to 7.4 months compared to last month’s 2.8.  Popping back into a buyers’ condo segment of Stuart’s 34994 zip code area.  This is not totally unexpected as condo sales often slow down during the summer months.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last July the numbers were 84 active listings, 23 pending sales, and 20 closed sales.   Better closed numbers for 2015, but pending sales are a bit better this year and it’s with less inventory.

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