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.

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