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

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for October 2011

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

There are currently 135 active condo listings (Up 3 from September).

31 Condo sales are pending and awaiting close or lender approval. (Down 14 from last month)

21 Condos Sold in October (Up 3 units from September).

The Stuart condo market for the area in ZIP code 34994 had slow October activity as the seasonal condo market does not begin till after the upcoming holidays.  Sales were up by 3 units, but pending sales were off considerably and a small rise in existing inventory.  Typically, inventory should rise as many sellers will try to time the market for the coming season.  Unfortunately, this will continue to exert price pressure on existing sales as the law of supply and demand states that an increase in inventory will dilute demand and put pressure on prices to drop further. 

Should we have some positive economic news, we may see a strong winter season for sales, it will be interesting to see what happens!

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