Stuart FL 34997 Condo Market Report August 2018
Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for August 2018
For August 2018 in the 34997 Zip Code area of Stuart, Florida:
There are currently 36 active condo listings (Down by 8 condos from July).
25 Condo sales are pending and awaiting close (Up by 4 condos from July).
12 Condos Sold in August (Decreased by 5 condos from July).
The Stuart FL condo market for zip code 34997 is still a very strong market, but the inventory of available condos has now shrunk to unprecedented low levels. Surprisingly, both pending and closed sales remain quite strong considering the low inventory.
The absorption rate rose to 3.0 months in August compared to 2.6 months for July. Remaining as a strong seller’s market for the 34997 zip code of Stuart FL. A 6 to 7-month absorption rate is typically considered to be a balanced market that favors neither the buyer nor the seller.
The August 2017 numbers were: 44 active listings, 23 pending sales, and 17 closed sales. Better sales activity last year but with greater inventory.
Stuart Florida Real Estate presented by:
Gabe Sanders
Stuart FL 34997 Condo Market Report August 2018
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