Stuart Florida Market Report ZIP Code 34994 – Condo, August 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for August 2012

For August, 2012 in the 34994 Zip Code area of Stuart, Florida :

There are currently 143 active condo listings (Down 10 condos from July).

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43 Condo sales are pending and awaiting close or lender approval. (Up 13 from last month)

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13 Condos Sold in August (Decreased by 4 condos from July).

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Somewhat surprisingly strong results for the Stuart Condo market for zip code 34994.  While sales were off by 4 condos, pending sales were up by a significant 13 units.  The available inventory also decreased significantly.  The one month absorption rate is at 11.8 months, which still signifies a buyers market.  And, it appears that the buyers are indeed buying, even during the typically slower condo season.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither a buyers or sellers market.

Last August the numbers were 136 active listings, 43 pending sales, and 16 closed sales.  There is still great room for improvement in this segment of the Stuart Florida condo market.