Stuart FL 34996 Residential Market Report November 2015
Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for November 2015
For November 2015 in the Stuart Florida Market Report ZIP Code 34996 Florida :
There are currently 143 active listings (Down by 18 homes from October).
34 Residential sales are pending and awaiting close or lender approval (Up by 17 homes from October).
6 Homes Sold in November (Decreased by 6 homes from October).
The 34996 zip code area of the Stuart Florida residential real estate market lost most of the increased inventory from last month. Much of it appears to have gone under contract with the increase in the number of pending sales. Unfortunately, closed sales were a bit disappointing.
The one month absorption rate for the 34996 zip code area of Stuart Florida for November continued to slide up to an atrocious 23.8 months as compared to October’s 13.4 months. A very strong buyers market for this section of Martin County. Though, with the big increase in pending sales, this may not be a very long lived phenomenon. A balanced market, favoring neither buyer or seller is considered to be around a 6 to 7 month absorption rate.
The numbers for November of 2014 were: 163 active listings, 31 pending sales and 16 closed sales. Fewer closed sales this year, while having a grater number of pending sales with less inventory.
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Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team
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