Stuart FL 34997 Residential Market Report January 2016
Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for January 2016
There are currently 299 active listings (Decreased by 9 homes from December).
156 Residential sales are pending and awaiting close or lender approval (Decreased by 7 homes from December).
88 Homes Sold in January (Increased by 16 homes from December)
The Stuart Florida Residential Market for ZIP Code 34997 continues as the largest and the strongest segment of the Martin County single family real estate market. We have seen an unfortunate continuation of a decrease in inventory which is going to effect future sales unless this trend reverses.
The current one month absorption rate remained almost the same at 3.4 months (was 5.0 months for December). Even a stronger sellers market for the 34997 segment of the Stuart residential market for the beginning of 2016. Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7 month absorption rate.
The 2014 numbers for January, were: 348 active listings, 198 pending listings and 76 closed sales. Even with considerably less inventory, closed sale for 2016 were ahead of last years numbers.
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Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team
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