Stuart FL 34996 Condo Market Report October 2019

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

There are currently 105 active condo listings (Up by 2 condos from last month).

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

16 Condos sold in October (Down by 16 condos from September) 

The Stuart FL 34996 Condo Market of Stuart had a sizeable drop in closed sales from last month.  Though, on a brighter note, the pending sales numbers are up which may indicate better closed sales numbers in the coming months.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 jumped to 6.6 months from September’s 3.2 months. Bringing us back 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 October 2018 were: 127 active listings, 22 pending sales, and 19 closed sales. There was better closed and pending sales numbers last year.  Though, the inventory of available condos is also down this year.

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