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

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

 

There are currently 336 active listings (a decrease of 23 homes from November).

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

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62 Homes Sold in December (Up 18 homes from November)

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The Stuart Florida Market Report ZIP Code 34997 finished 2012 with a strong 62 homes closed.  Pending sales were off which is not unexpected as traffic during the holiday season is typically lighter than normal.  Somewhat troubling though, is the inventory of available homes decreased by 23 homes and is very low.  I’m hoping to see this number rise as we get into the new year.  Should it stay low, we’ll see reduced activity for next year because of a lack of inventory.

 

The current one month absorption rate is at 5.4 months which indicates a slight sellers advantage for the 34997 Stuart zip code real estate market.  Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 month absorption rate.

 

The 2011 numbers were: 522 active listings, 176 pending listings and 78 closed sales.  The most striking number from last year is the difference in inventory of available homes for sale.