Stuart Florida Market Report ZIP Code 34997 – Residential, August 2012

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for August 2012

 

There are currently 332 active listings (an increase of 2 homes from July).

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195 Residential sales are pending and awaiting close or lender approval (A decrease of 27 homes from July).

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82 Homes Sold in July (Up 32 homes from July)

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Very strong results from the 34997 zip code area of Stuart Florida. This segment of the Martin County real estate market continues to outperform other areas of Martin County.  Closed sales were up significantly for August.   Pending sales were off, most likely because of the high number of closed sales.  The inventory was up by 2 homes in the 34997 zip code of Stuart, Florida.

 

The current one month absorption rate is just over 4 months, which normally signifies a sellers market.   Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 month absorption rate.

 

The 2011 numbers were: 484 active listings, 181 pending listings and 56 closed sales.