Stuart FL 34994 Condo Market Report November 2018

Stuart FL 34994 Condo Market Report November 2018 

Stuart FL Real Estate Snapshot for ZIP Code 34994, Condo Sales for November 2018

For November 2018 in the 34994 Zip Code area of Stuart, Florida :

There are currently 96 active condo listings (Up by 11 condos from October).

Stuart FL 34994 Condo Market Report November 2018

48 Condo sales are pending and awaiting close or lender approval. (Increased by 3 condos from last month) 

Stuart FL 34994 Condo Market Report November 2018

9 Condos Sold in November (Down by 5 condos from October).

Stuart FL 34994 Condo Market Report November 2018

The Stuart FL 34994 Condo market showed slightly weaker closed activity from last month along with an increase in inventory of available condos for sale.

The absorption rate for November dropped to 10.7 months compared to last month’s 6.1.  Now a buyer’s market for this condo segment of Stuart’s 34994 zip code area.  This is a large change and it’s been quite some time that this was a buyer’s 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 100 active listings, 31 pending sales, and 21 closed sales.  Much better sales activity last year, but stronger pending activity for this year.

Stuart FL 34994 Condo Market Report November 2018

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Stuart FL 34994 Condo Market Report November 2018 

 

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