Stuart FL 34997 Residential Market Report October 2016
Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for October 2016
There are currently 331 active listings (Increased by 21 homes from September).
132 Residential sales are pending and awaiting close or lender approval (Unchanged from September).
58 Homes Sold in October (Decreased by 41 homes from September)
The Stuart Florida Residential Market for ZIP Code 34997 is the largest segment of the Stuart FL residential real estate and for this month there was a sizeable slowdown in closed sales along with a big jump in inventory.
The absorption rate decreased slightly to 5.7 months (was 3.5 months for September). Almost back up to a balanced 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 2015 numbers for October, were: 308 active listings, 163 pending listings and 66 closed sales. Considerably stronger activity last year with less inventory.
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Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team
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