The 34996 zip code area of the Stuart Florida residential real estate rebounded some for October mostly with strong pending sales.  Closed sales remain weak.  Much of this may be attributed to Hurricane Irma which shut down real estate for a little over a week last month.  Some of October’s activity could have been impacted by Hurricane Irma which shut down real estate for a little over a week in September with ripple effects that have continued.

The one month absorption rate for the 34996 zip code area of Stuart Florida for October jumped to 25.8 months as compared to September’s 65 months.  Still a strong buyer’s market for the 34996 zip code area of Stuart FL but trending in the right direction.  A balanced market, favoring neither buyer or seller is considered to be around a 6 to 7 month absorption rate.

The numbers for October of 2016 were: 174 active listings, 25 pending sales, and 15 closed sales.  Considerably better closed activity from last year but with a much larger inventory.

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