Stuart Florida 34994 Residential Market Report August 2019

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for August 2019

For July 2018 in the 34994 Zip Code area of Stuart, Florida :

There are currently 87 active listings (Down by 2 homes from July)

38 Residential sales are pending and awaiting close or lender approval (Increased by 21 homes from last month).

4 Homes Sold in August (Decreased by 12 homes from July)

The residential real estate market for the 34994 ZIP code area of the Stuart, Florida had a pretty dramatic drop in closed sales for the month while also having a large increase in pending sales.  This is most likely a result of a number of delayed closings due to the hurricane.

The one-month absorption rate for the 34994 zip code for August jumped to 21.8 months from 5.6 months for July.  Transitioning into an extreme buyer’s market for the 34994 zip code area of Stuart, FL.  I anticipate that this is just a temporary one-month situation.   A 6 to 7-month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

The August 2018 numbers were 71 Active Listings, 28 pending sales, and 15 closed sales.  We have a larger inventory of available homes for sale in this segment of the market.  pending sales are considerably stronger this year while closed sales were weaker.

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