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

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

For January 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 154 active condo listings (Up 1 condos from December).

33 Condo sales are pending and awaiting close or lender approval. (Down 2 from last month)

11 Condos Sold in January (Down 2 units from December).

The Stuart condo market for the area in ZIP code 34994 continues to show weakness.  The January results were off slightly from December, which in fact should show increased activity as we head into the season.  Unfortunately, this was not the case.   The inventory continued to increase, pending home sales were also off and sales were down as well. Compared to January of 2011, when there were 173 active listings, 68 pending sales, and 9 closed sales.  The inventory is down from last year, but pending and closed sales remain weak in this segment of the market.  This is increasing pressure for additional price drops unless sales can pick up in the latter part of this season.

In the next few months, the peak season for condos will show what the market can bear for 2012 for the Treasure Coast condo market.