Stuart FL 34997 Residential Market Report June 2015
Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for June 2015
There are currently 257 active listings (Decreased by 22 homes from May).
200 Residential sales are pending and awaiting close or lender approval (Decreased by 25 homes from May).
113 Homes Sold in June (Increased by 22 homes from May)
The Stuart Florida Residential Market for ZIP Code 34997 continues to outperform most other Stuart FL areas in the single family real estate market. Our inventory took another major drop as sales are going faster than homeowners are willing to list on the market. Closed sales remain very strong, but the reduced inventory will soon result in a lower volume of closed sales as evidenced by the drop in pending sales.
The current one month absorption rate dropped to 2.3 months (was 3.1 months for May). Moving to even a stronger seller’s 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 2014 numbers for June, were: 381 active listings, 185 pending listings and 80 closed sales. Very strong activity this year even with a dramatic drop in inventory.
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Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team
Stuart FL 34997 Residential Market Report June 2015
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