Stuart FL 34994 Condo Market Report May 2018

Stuart FL 34994 Condo Market Report May 2018 

Stuart FL Real Estate Snapshot for ZIP Code 34994, Condo Sales for May 2018

For May 2018 in the 34994 Zip Code area of Stuart, Florida :

There are currently 81 active condo listings (Down by 16 condos from April).

Stuart FL 34994 Condo Market Report May 2018

68 Condo sales are pending and awaiting close or lender approval. (Decreased by 7 condos from last month) 

Stuart FL 34994 Condo Market Report May 2018

34 Condos Sold in April (Increased by 6 condos from April).

Stuart FL 34994 Condo Market Report May 2018

The Stuart FL 34994 Condo market is now into historic low inventory levels which I have not seen before.  Yet the volume of both pending and closed sales rose for May.  This activity may not be sustainable if the inventory continues to drop.

The absorption rate for April dropped to 2.4 months compared to last month’s 3.5.  Even a stronger seller’s market for this condo segment of Stuart’s 34994 zip code area after one month of a seller’s market.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last May the numbers were 85 active listings, 41 pending sales, and 18 closed sales.  Much better volume of closed and pending sales for this year when compared to last..

Stuart FL 34994 Condo Market Report May 2018

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Stuart FL 34994 Condo Market Report May 2018 

 

Stuart Florida 34994 Residential Market Report May 2018

Stuart Florida 34994 Residential Market Report May 2018

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for May 2018

For May 2018 in the 34994 Zip Code area of Stuart, Florida :

There are currently 67 active listings (Down by 7 homes from April)

Stuart Florida 34994 Residential Market Report May 2018

35 Residential sales are pending and awaiting close or lender approval (Decreased by 2 homes from last month).

Stuart Florida 34994 Residential Market Report May 2018

23 Homes Sold in April (Increased by 10 homes from April)

Stuart Florida 34994 Residential Market Report May 2018

The residential real estate market for the 34994 ZIP code area of the Stuart, Florida showed very strong sales activity for this month.  Much better than last month as well as last year.

The one-month absorption rate for the 34994 zip code for April plunged to 2.9 months from 5.7 months for April.  Going to a stronger seller’s market for the 34994 zip code area of Stuart, FL.  A 6 to 7-month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

The May 2017 numbers were 71 Active Listings, 32 pending sales, and 16 closed sales.  Stronger activity for this month when compared to last year.

Stuart Florida 34994 Residential Market Report May 2018

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Stuart Florida 34994 Residential Real Estate Market Report May 2018

Stuart FL 34994 Condo Market Report April 2018

Stuart FL 34994 Condo Market Report April 2018 

Stuart FL Real Estate Snapshot for ZIP Code 34994, Condo Sales for April 2018

For April 2018 in the 34994 Zip Code area of Stuart, Florida :

There are currently 97 active condo listings (Down by 30 condos from March).

Stuart FL 34994 Condo Market Report April 2018

75 Condo sales are pending and awaiting close or lender approval. (Increased by 8 condos from last month) 

Stuart FL 34994 Condo Market Report April 2018

28 Condos Sold in March (Increased by 2 condos from March).

Stuart FL 34994 Condo Market Report April 2018

The Stuart FL 34994 Condo market lost a significant amount of inventory with bery strong sales and pending activity for the month.

The absorption rate for March dropped to 3.5 months compared to last month’s 4.9.  Even a stronger seller’s market for this condo segment of Stuart’s 34994 zip code area after one month of a seller’s market.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last April the numbers were 90 active listings, 31 pending sales, and 29 closed sales.  Considerably greater pending activity for this year.

Stuart FL 34994 Condo Market Report April 2018

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Stuart FL 34994 Condo Market Report April 2018 

 

Stuart Florida 34994 Residential Market Report April 2018

Stuart Florida 34994 Residential Market Report April 2018

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for April 2018

For April 2018 in the 34994 Zip Code area of Stuart, Florida :

There are currently 74 active listings (Down by 1 homes from March)

Stuart Florida 34994 Residential Market Report April 2018

35 Residential sales are pending and awaiting close or lender approval (Increased by 1 homes from last month).

Stuart Florida 34994 Residential Market Report April 2018

13 Homes Sold in March (Decreased by 14 homes from March)

Stuart Florida 34994 Residential Market Report April 2018

The residential real estate market for the 34994 ZIP code area of the Stuart, Florida had a decrease in closed sales from last month (which were very strong) but remains a very strong market.

The one-month absorption rate for the 34994 zip code for March jumped to 5.7 months from 2.8 months for March.  Hanging on to a seller’s market for the 34994 zip code area of Stuart, FL.  A 6 to 7-month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

The April 2017 numbers were 69 Active Listings, 33 pending sales, and 12 closed sales.  One of the few areas of Martin County with increased inventory from last year.  Sales activity was very similar to last year.

Stuart Florida 34994 Residential Market Report April 2018

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Stuart Florida 34994 Residential Real Estate Market Report April 2018

Stuart FL 34994 Condo Market Report March 2018

Stuart FL 34994 Condo Market Report March 2018 

Stuart FL Real Estate Snapshot for ZIP Code 34994, Condo Sales for March 2018

For March 2018 in the 34994 Zip Code area of Stuart, Florida :

There are currently 127 active condo listings (Up by 2 condos from February).

Stuart FL 34994 Condo Market Report March 2018

67 Condo sales are pending and awaiting close or lender approval. (Increased by 12 condos from last month) 

Stuart FL 34994 Condo Market Report March 2018

26 Condos Sold in February (Decreased by 2 condos from February).

Stuart FL 34994 Condo Market Report March 2018

The Stuart FL 34994 Condo market continues to show positive resilts with strong pending activity and just a slight drop in closed sales from last month.

The absorption rate for February inched up to 4.9 months compared to last month’s 4.5.  Remaining in a seller’s market for this condo segment of Stuart’s 34994 zip code area after one month of a seller’s market.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last March the numbers were 88 active listings, 38 pending sales, and 21 closed sales.  Considerably greater sales activity this year along with a greater inventory of available condos for sale.

Stuart FL 34994 Condo Market Report March 2018

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Stuart FL 34994 Condo Market Report March 2018