Stuart FL 34997 Condo Market Report October 2016
Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for October 2016
For October 2016 in the 34997 Zip Code area of Stuart, Florida :
There are currently 72 active condo listings (Unchaged from September).
27 Condo sales are pending and awaiting close or lender approval (Up by 8 condos from September).
6 Condos Sold in October (Decreased by 10 condos from September).
The Stuart FL condo market for zip code 34997 had reduced sales activity and increased inventory for October 2016 with a promising increase in pending sales.
The absorption rate dropped to 12 months in October from 4.5 months for September. A buyers’ market for the first time in a while 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 October 2015 numbers were: 59 active listings, 21 pending sales and 12 closed sales. Better pending activity this year with less closed sales activity. The inventory is up.
Stuart Florida Real Estate presented by:
Gabe Sanders
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