Stuart FL 34997 Residential Market Report January 2019
Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for January 2019
For January 2019 in the 34997 Zip Code area of Stuart, Florida:
There are currently 348 active listings (Increased by 7 homes from December).
158 Residential sales are pending and awaiting close or lender approval (Up by 65 homes from December).
52 Homes Sold in January (Decreased by 18 homes from December)
The Stuart Florida Residential Market for ZIP Code 34997 had a sizeable drop in closed sales for the first month of the year. I think this is only temporary as we had an impressive jump in pending sales. This should show up with increased closed sales in the next couple of months.
The absorption rate rose to 6.7 months (was 4.9 months for December). Now, a balanced market for the 34997 zip code area of Stuart for January 2019. Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7-month absorption rate.
The 2017 numbers for January, were: 292 active listings, 144 pending listings, and 58 closed sales. Slightly better closed sales activity last year on a reduced inventory. There is a better number of pending sales this year.
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