Stuart FL 34997 Condo Market Report May 2018
Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for May 2018
For May 2018 in the 34997 Zip Code area of Stuart, Florida:
There are currently 50 active condo listings (Down by 7 condos from April).
26 Condo sales are pending and awaiting close or lender approval (Up by 7 condos from April).
17 Condos Sold in May (Increased by 8 condos from April).
The Stuart FL condo market for zip code 34997 showed strong activity for May. Both pending and closed sales improved from last month, whilewe remain in great need of more condos available to purchase (inventory) in this area of Stuart FL.
The absorption rate plunged to 2.9 months in May compared to 6.3 months for April. Back into 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 May 2017 numbers were: 61 active listings, 22 pending sales, and 37 closed sales. Better sales activity last year even though pending sales were a bit stronger this year. This is all with a reduced number of condos available for sale
Stuart Florida Real Estate presented by:
Gabe Sanders
Stuart FL 34997 Condo Market Report May 2018
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