Stuart Florida Market Report ZIP Code 34994 – Condo, November 2011

Stuart Real Estate Snapshot for ZIP Code 3499, Condo Sales for November 2011

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

There are currently 146 active condo listings (Up 11 from October).

35 Condo sales are pending and awaiting close or lender approval. (Up 4 from last month)

10 Condos Sold in November (Down 11 units from October).

Unlike the residential market in Martin County, Florida, the Stuart condo market for the area in ZIP code 34994 continues to show some weakness.  While inventory is down significantly from last year’s levels (177 units in 2010 to 146 in 2011), sales were off from the previous month as well as last year.  Inventory has also risen for the past two months.  On a positive note, pending sales were up slightly.  The vast majority of sales in this Stuart (34994 zip code market) are selling in the lower spectrum of the price range.

How much of this market trend can be attributed to the slower holiday season is not known at this point.  In the next few months, the peak season for condos will show what the market can bear for the 2012 Treasure Coast condo sales season.