Stuart Florida Market Report ZIP Code 34994 Condo, May 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for May 2013

For May, 2013 in the 34994 Zip Code area of Stuart, Florida :

There are currently 113 active condo listings (Decreased by 5 condos from April).

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42 Condo sales are pending and awaiting close or lender approval. (Down by 1 condo from last month)

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30 Condos Sold in May (Increased by 2 condos from April).

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Good activity for the Stuart Condo market for zip code 34994.   Pending sales increased by 1 condo in May while closed sales also increased.   The inventory continues its decline.  This low inventory will be responsible for a decreasing market numbers in the coming months.

The one month absorption rate dropped to 3.8 months, which is a significant seller’s market.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last May the numbers were 150 active listings, 37 pending sales, and 23 closed sales.  Much better sales activity this year especially when the number of condos available for sale this year are so much less.