Stuart Florida Market Report ZIP Code 34997 Residential May 2013

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

 

There are currently 298 active listings (A decrease of 27 homes from April).

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190 Residential sales are pending and awaiting close or lender approval (An decrease of 29 home from April).

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84 Homes Sold in May (Increased by 2 homes from April)

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For May 2013, the Stuart Florida Market Report ZIP Code 34997 the number of closed sales remained high as well as strong pending activity for future months closed activity though it was off from the high in April.  For May, there was a significant decrease in inventory after a small decrease last month.  The 34997 zip code area of Martin County market activity remains one of the most active areas in the county.

 

The current one month absorption rate dropped to 3.5 months which indicates a strong sellers 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.  If inventory levels don’t rise, future market activity will suffer as there just aren’t enough homes at the current demand.  Prices have started to rise in this zip code area of Martin County.

 

The 2012 numbers were: 389 active listings, 222 pending listings and 92 closed sales.  When considering the greatly reduced inventory, the market activity in the 34997 zip code of Martin County remains robust year to year.