Stuart FL 34997 Residential Market Report July 2017

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for July 2017

There are currently 292 active listings (Increased by 31 homes from June).

180 Residential sales are pending and awaiting close or lender approval (No change from June).

84 Homes Sold in July (Decreased by 3 homes from June)

      The Stuart Florida Residential Market for ZIP Code 34997  had a welcome increase in inventory for July along with strong pending sales numbers and slightly weaker closed sales from last month.

     The absorption rate increased to 3.5 months (was 3.0 months for June).  Continuing as a strong sellers’ market for the 34997 zip code area of Stuart for July 2017.  Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7 month absorption rate.

     The 2016 numbers for July, were: 299 active listings, 159 pending listings and 86 closed sales.  Better closed activity last year, but higher pending sales this year which indicates strong future closed sales activity.

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