Stuart FL 34997 Condo Market Report June 2017
Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for June 2017
For June 2017 in the 34997 Zip Code area of Stuart, Florida:
There are currently 50 active condo listings (Decreased by 11 condos from May).
33 Condo sales are pending and awaiting close or lender approval (Increased by 11 condos from May).
7 Condos Sold in June (Decreased by 30 condos from May).
The Stuart FL condo market for zip code 34997 is showing some strange numbers with sales dropping significantly from last month (which was an abnormally strong month). Pending sales remain strong but inventory is dropping to troubling levels.
The absorption rate plunged to 7.1 months in June compared to 1.6 months for May. Back into a buyers’ 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 June 2016 numbers were: 74 active listings, 27 pending sales, and 24 closed sales. Considerably stronger closed sales last year while we have a little better pending sales numbers for this year. Though, a troubling decrease in available condos for sale.
Stuart Florida Real Estate presented by:
Gabe Sanders
Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for June 2017
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