Stuart FL 34997 Residential Market Report October 2015

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for October 2015

 

There are currently 308 active listings (Increased by 31 homes from September).

163 Residential sales are pending and awaiting close or lender approval (Increased by 11 homes from September).

66 Homes Sold in October (Decreased by 15 homes from September)

      The Stuart Florida Residential Market for ZIP Code 34997 is the largest and has been the strongest segment of the Martin County single family real estate market.  Nice to see a couple of months of increased inventory.

     The current one month absorption rate increased to 4.7  months (was 3.4 months for September).  Most of this increase is due to the stronger inventory numbers and we still remain in a very strong 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 October, were: 368 active listings, 144 pending listings and 81 closed sales.  Considerably stronger closed activity last October, though the increased number of pending sales might hold promise for the next few months.

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