Stuart FL 34994 Condo Market Report November 2015

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for November 2015

For November 2015 in the 34994 Zip Code area of Stuart, Florida :

There are currently 96 active condo listings (Up by 9 condos from October).

24 Condo sales are pending and awaiting close or lender approval. (Decreased by 4 condos from last month) 

13 Condos Sold in November (Down by 2 condos from October).

The Stuart FL 34994 Condo market retreated a bit in November.  While this is not unexpected as we are into the off season for condos, it is still less than last year at this time.  Hopefully the increased inventory will result in some better activity as we come into the high season for condo activity.

The one month absorption rate increased to 7.4 months compared to last month’s 5.8.   Back into a buyers market.  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 November the numbers were 90 active listings, 27 pending sales, and 18 closed sales.   Our current inventory surpassed last years’ which is a positive sign.  Unfortunately closed and pending sales were not as strong as they were last year.

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