Stuart FL 34994 Condo Market Report September 2015

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

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

There are currently 71 active condo listings (Down by 5 condos from August).

35 Condo sales are pending and awaiting close or lender approval. (Increased by 8 condos from last month) 

11 Condos Sold in September (Down by 3 condos from August).

The Stuart FL 34994 Condo market while still active is showing reduced activity as we head into the off season.  The low inventory levels is quite apparent and I’m hoping this will reverse in the coming months or at latest by early next year.  Though even with the low inventory, pending sales increased for the month indicating better closed activity for the near future.

The one month absorption rate increased to 6.5 months compared to last month’s 5.4.  Slipping into a balanced market for the 34994 Stuart zip code condo area after many months of being a strong sellers 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 September the numbers were 95 active listings, 42 pending sales, and 20 closed sales.   Better activity last year.  Though the greater inventory is probably a large factor in this.

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