Stuart FL 34997 Residential Market Report May 2016
Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for May 2016
There are currently 304 active listings (Decreased by 5 homes from April).
216 Residential sales are pending and awaiting close or lender approval (Down by 3 homes from April).
109 Homes Sold in May (Increased by 10 homes from April)
The Stuart Florida Residential Market for ZIP Code 34997 is the largest segment of the Stuart FL residential real estate market. And, it is also the most active with very strong sales and pending sales activity.
The current one month absorption rate plunged to 2.8 months (was 3.1 months for April). Continuing as an extreme sellers’ 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 2015 numbers for May, were: 275 active listings, 225 pending listings and 91 closed sales. Interestingly enough, there is a greater number of homes for sale this year as compared to 2015. Sales were better this year though the pending numbers were higher last year. Though, with this kind of hot activity, these numbers are very similar.
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Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team
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