Stuart FL 34997 Residential Market Report February 2019

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for February 2019

For February 2019 in the 34997 Zip Code area of Stuart, Florida:

There are currently 361 active listings (Increased by 13 homes from January).

166 Residential sales are pending and awaiting close or lender approval (Up by 8 homes from January). 

77 Homes Sold in February (Increased by 25 homes from January)

      The Stuart Florida Residential Market for ZIP Code 34997 regained its momentum of closed sales after a weak January.  Though, pending sales, while strong may not be enough to keep up with the increases in inventory.

     The absorption rate rose to 4.7 months (was 6.7 months for January).  Back into a seller’s market for the 34997 zip code area of Stuart for February 2019 after one month of a balanced market.  Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7-month absorption rate.

     The 2018 numbers for February, were: 307 active listings, 155 pending listings, and 65 closed sales.  A greater number of closed sales this year when compared to last year.  Pending sales were not quite as strong as last year and there is a considerably larger inventory of available homes for sale.