Stuart Florida Market Report ZIP Code 34996 – Condo, November 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for November 2011

For November 2011 in the 34996 Zip Code area of Stuart, Florida :
There are currently 225 active condo listings (Up 12 from last month).

21 Condo sales are pending and awaiting close or lender approval (A decrease of 3 from October).

14 Condos Sold in November (A decrease of 3 condos from October)

The Stuart condo market for the area in ZIP code 34996 had another month of increased inventory for November. Also, the second month of small decreases in closed and pending sales.  Hopefully, this is just a typical seasonal slowdown as we get into the holiday months. The large increase in inventory is troubling for sellers as this may have significant downward pressure on prices for the coming winter season if this trend continues.

There were a couple of higher-priced sales this past month, which helps the average sales price report and brings those numbers up a bit.  The inventory does remain approximately 20% below the 2010 level, but unfortunately, sales, as well as pending sales, were also down.  The 2012 selling season should start to heat up in the January report (two months from now) and hopefully, the trend will be positive.