Stuart FL 34997 Residential Market Report May 2015
Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for May 2015
There are currently 279 active listings (Decreased by 36 homes from April).
225 Residential sales are pending and awaiting close or lender approval (Increased by 2 homes from April).
91 Homes Sold in May (Decreased by 7 homes from April)
The Stuart Florida Residential Market for ZIP Code 34997 continues to outperform most other Stuart FL areas in the single family real estate market. Our inventory took another major drop as sales are going faster than homeowners are willing to list on the market. Both pending sales and closed sales remain very strong, but the reduced inventory may be a sign of some weaker future volume.
The current one month absorption rate decreased slightly to 3.1 months (was 3.2 months for April). Moving to even a stronger seller’s market for the 34997 zip code area of Stuart, FL. Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7 month absorption rate.
The 2014 numbers for May, were: 413 active listings, 164 pending listings and 107 closed sales. Considerably better pending activity this year, but the reduced inventory is very troubling.
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Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team
Stuart FL 34997 Residential Market Report May 2015
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