Stuart Florida Market Report ZIP Code 34997 – Residential, December 2011

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for December 2011

There are currently 522 active listings (a decrease of 5 homes from November).

176 Residential sales are pending and awaiting close or lender approval (A decrease of 22 homes from November).

78 Homes Sold in November (Up 36 homes from November)

A very strong month for December in the 34997 zip code area of Stuart Florida.  Sales almost doubled by the end of the year.  Inventory was down and the only negative report shows pending sales were down.

Compared to December of 2010, the inventory is down by approximately 50 homes or 10%.  Less supply should be a catalyst for greater demand.  Lower supply should also help stabilize prices.  There were 155 pending sales in 2010 compared to the 176 this year (Dec 2011) and there were 47 homes sold in Dec 2010 as compared to the 78 last month.  Very strong results that may very likely continue into 2012 as the economic outlook appears to be more positive.  With renewed optimism, I see a strong market in the future for the Stuart 34997 zip code area.

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