Stuart FL 34997 Condo Market Report October 2017
Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for October 2017
For October 2017 in the 34997 Zip Code area of Stuart, Florida:
There are currently 53 active condo listings (Increased by 4 condos from September).
25 Condo sales are pending and awaiting close or lender approval (Increased by 7 condos from September).
10 Condos Sold in October (Decreased by 3 condos from September).
The Stuart FL condo market for zip code 34997 continues to show strong activity even with a decrease in closed sales for the past two months. This decrease may be attributed to Hurricane Irma which shut down real estate for a little over a week in September with ripple effects that have continued.
The absorption rate increased to 5.3 months in October compared to 3.8 months for September. Still in a 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 October 2016 numbers were: 72 active listings, 27 pending sales, and 6 closed sales. Better closed sales this year even with a lower inventory of available condos.
Stuart Florida Real Estate presented by:
Gabe Sanders
Stuart FL 34997 Condo Market Report October 2017
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