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

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

 

There are currently 359 active listings (a decrease of 1 homes from October).

[singlepic id=3083 w=600 h=600 float=center]

[singlepic id=3084 w=600 h=600 float=center]

 

191 Residential sales are pending and awaiting close or lender approval (An increase of 2 homes from October).

[singlepic id=3085 w=600 h=600 float=center]

 

44 Homes Sold in November (Down 7 homes from October)

[singlepic id=3086 w=600 h=600 float=center]

[singlepic id=3087 =600 h=600 float=center]

[singlepic id=3088 w=600 h=600 float=center]

[singlepic id=3089 =600 h=600 float=center]

The 34997 zip code area of Stuart Florida continue to show strong numbers. The inventory basically remained unchanged while pending sales (an indication of future closed  sales) remained strong, rising by 2 homes.  Closed sales were were off by seven homes, but these results are still strong during our off season.

 

The current one month absorption rate is at 8.1 months, very close to a balanced market.  Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 month absorption rate.

 

The 2011 numbers were: 527 active listings, 198 pending listings and 42 closed sales.  Considering the amount of inventory being significantly lower this year, it’s very impressive how ell this segment of the Stuart real estate market continues to perform.