Stuart Florida Market Report ZIP Code 34997 – Residential, February 2013

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for February 2013

 

There are currently 332 active listings (A decrease of 29 homes from January).

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243 Residential sales are pending and awaiting close or lender approval (An increase of 53 homes from January).

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47 Homes Sold in February (Down 7 homes from January)

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For February 2013, the Stuart Florida Market Report ZIP Code 34997 the closed sales were off marginally, but an impressive number of pending sales which should result in a stronger sold homes report in the next few months.  With the big increase in pending sales, the active inventory of available homes decreased significantly this month.

 

The current one month absorption rate climbed to 7.7 months which indicates a buyers market 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 2012 numbers were: 471 active listings, 242 pending listings and 60 closed sales.  Even with over 100 fewer available homes on the market this year, pending sales remained as strong as last year.