Stuart FL 34996 Condo Market Report August 2019

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for August 2019

There are currently 95 active condo listings (Down by 3 condos from last month).

42 Condo sales are pending and awaiting close or lender approval (Up by 8 condos from July).

15 Condos sold in August (Down by 16 condos from July) 

The Stuart FL 34996 Condo Market of Stuart showed a sizeable drop in closed sales for August.  Pending sales remain strong though and I believe some of the weakness in the closed sales may have been due to issues with Hurricane Dorian at the end of the month.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 jumped to 6.3 months from July’s 3.2 months. Bringing us into a balanced market for this segment of Martin County condos but not as extreme as last month.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for August 2018 were: 102 active listings, 37 pending sales, and 16 closed sales.  Very similar activity to last year for condos in the 34996 zip code area of Stuart.

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