Stuart FL 34996 Condo Market Report October 2014

Stuart FL 34996 Condo Market Report October 2014

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for October 2014

For October 2014 in the 34996 Zip Code area of Stuart, Florida :

There are currently 152 active condo listings (Up by 5 condos from last month).

50 Condo sales are pending and awaiting close or lender approval (Increased by 13 condos from September).

15 Condos Sold in October (Decreased by 13 condos from September) 

The Stuart FL 34996 Condo Market demonstrated a weaker October 2014.  Closed sales took a big dive, fortunately pending sales were up and interestingly this segment saw a rise in inventory.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 – increased to 10.1 months from September’s 5.25 months .  Back into a buyers market after last months strong activity.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for October 2013 were: 171 active listings, 32 pending sales and 22 closed sales.  Inventory is still considerably under last years levels and sales are also lower.  The bright note is the increase in pending sales which should result in greater sales numbers in the near future.

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