Stuart Florida Market Report ZIP Code 34996 – Condo, February 2013

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for February 2013

For February 2013 in the 34996 Zip Code area of Stuart, Florida :

There are currently 199 active condo listings (Down 19 from last month).

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62 Condo sales are pending and awaiting close or lender approval (An increase of 8 condos from January).

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20 Condos Sold in February (Up by 7 from January)

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The Stuart Florida Market Report ZIP Code 34996 for Condos showed some increased activity.  And, after 3 months of increased inventory, it stopped this month and went down by 19.  Pending and sold activity were both up for February.  Quite surprising that the inventory dropped with this strong activity.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is 10 months.  Still indicating a buyers’ market.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for February 2012 were: 207 active listings, 43 pending sales and 13 closed sales.  Even with a slightly lower active inventory for 2013, we’re still generating better activity than last year.

Stuart Florida Market Report ZIP Code 34996 – Condo, January 2013

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for January 2013

For January 2013 in the 34996 Zip Code area of Stuart, Florida :

There are currently 218 active condo listings (Up 2 from last month).

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54 Condo sales are pending and awaiting close or lender approval (An increase of 25 condos from December).

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13 Condos Sold in January (Down by 1 from December)

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The Stuart Florida Market Report ZIP Code 34996 for Condos showed some increased activity along with the third straight month of increasing inventory.  Pending sales were up significantly for January while sales were off by 1 condo.  For the less expensive 55+ communities, which make up a significant portion of the 34996 condo market, it’s shaping up to be an active season.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is 16.8 months.  Still indicating a strong buyers’ market.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for January 2012 were: 225 active listings, 32 pending sales and 11 closed sales.  Very similar numbers to this year with the exception of a significantly higher pending sales numbers.

Stuart Florida Market Report ZIP Code 34996 – Condo, December 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for December 2012

For December 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 216 active condo listings (Up 7 from last month).

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29 Condo sales are pending and awaiting close or lender approval (An increase of 3 condos from November).

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14 Condos Sold in December (Up by 2 from November)

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The Stuart Florida Market Report ZIP Code 34996 for Condos showed some increased activity along with the second straight month of increasing inventory.  Pending sales were up slightly which is unusual for December, which is typically a month with reduced traffic because of the holidays.  Sales were also up, though I was expecting a bit stronger closed activity to finish the year.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just over 15.4 months.  Still indicating a strong buyers’ market.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for December 2011 were: 226 active listings, 19 pending sales and 12 closed sales.  Very similar numbers to this year with the exception of a significantly higher pending sales numbers.

Stuart Florida Market Report ZIP Code 34996 – Condo, November 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for November 2012

For November 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 209 active condo listings (Up 15 from last month).

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26 Condo sales are pending and awaiting close or lender approval (a decrease of 4 condos from October).

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12 Condos Sold in November (Down 5 from October)

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The Stuart Florida Market Report ZIP Code 34996 for Condo slowed some for November, not unexpected as this is typically an off month for condo sales.  Sales and future sales (pending listings) were off while the inventory showed the first increase in some time.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just over 17.4 months.  Quite a drop from last months 11 month absorption rate.

The numbers for November 2011 were: 225 active listings, 21 pending sales and 14 closed sales.  Very similar numbers to this year.

Stuart Florida Market Report ZIP Code 34996 – Condo, October 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for October 2012

For October 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 194 active condo listings (Down 4 from last month).

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26 Condo sales are pending and awaiting close or lender approval (a decrease of 2 condos from September).

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17 Condos Sold in October (Up 9 from September)

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The Stuart Florida Market Report ZIP Code 34996 for Condos had some very strong closed sales in October, typically an off month for condo sales.  Future sales (pending listings)  were off minimally while the inventory was also down by a small number.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just over 11 months.  Considerably improved from the past few months.

The numbers for October 2011 were: 213 active listings, 24 pending sales and 17 closed sales.  Very similar numbers to the current market with significantly lower inventory.

Stuart Florida Market Report ZIP Code 34996 – Condo, September 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for September 2012

For September 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 198 active condo listings (Up 8 from last month).

28 Condo sales are pending and awaiting close or lender approval (an increase of 9 condos from August).

8 Condos Sold in September (Down 4 from August)

The Stuart Florida Market Report ZIP Code 34996 for Condos showed its first increase in inventory in some time.  Future sales (pending listings) took a nice jump up to 28 condos while sales were off to only 8 sold condos.  Not an unexpected number considering we are in the off season for condo sales.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just under 24 months.  Not a very good number for sellers, but a great opportunity for buyers.  I expect this absorption rate to decrease in the coming months if the strong pending numbers hold up.

The numbers for September 2011 were: 188 active listings, 27 pending sales and 18 closed sales.  Very similar numbers to the current market.

Stuart Florida Market Report ZIP Code 34996 – Condo, August 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for August 2012

For August 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 190 active condo listings (Unchanged from last month).

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19 Condo sales are pending and awaiting close or lender approval (an increase of 2 condos from July).

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12 Condos Sold in August (Unchanged from July)

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The Stuart Florida Market Report ZIP Code 34996 for Condos was basically unchanged from July.  The only difference was an increase of 2 pending sales.  We are now in the off peak season for condos and it’s not unusual to see a lower number of pending sales and fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just under 16 months.  Still a very strong buyers market for now.

The numbers for August 2011 were: 192 active listings, 29 pending sales and 12 closed sales.  Very similar numbers to the current market.

Stuart Florida Market Report ZIP Code 34996 – Condo, July 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for July 2012

For July 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 190 active condo listings (Up 5 from last month).

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17 Condo sales are pending and awaiting close or lender approval (A decrease of 10 condos from June).

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12 Condos Sold in July (Down 8 from June)

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Not a very good month for the  Stuart Florida Market Report ZIP Code 34996 for Condos  We are now in the off peak season for condos and it’s not unusual to see a lower number of pending sales and fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.  For the first time in months, we’ve also seen a small increase in inventory as well.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just under 16 months.  Still a very strong buyers market for now.

Stuart Florida Market Report ZIP Code 34996 – Condo, June 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for June 2012

For June 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 185 active condo listings (Down 3 from last month).

27 Condo sales are pending and awaiting close or lender approval (A decrease of 4 condos from May).

20 Condos Sold in June (Down 6 from May)

The inventory continues to decline in the Stuart condo market for the area in ZIP code 34996. Sales activity slowed from May and pending sales were also down from last month. We are approaching the slower time of the year for seasonal condos and it’s not unusual to see a lower number of pending sales and probably fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.

Compared to last year in June of 2011, the numbers were 203 active listings, 21 pending sales and 30 closed sales.  Last June we had much better closed activity, but our pending sales are higher this year and the inventory is marginally lower.

Stuart Florida Market Report ZIP Code 34996 – Condo, May 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for May 2012

For May 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 188 active condo listings (Down 15 from last month).

31 Condo sales are pending and awaiting close or lender approval (A decrease of 21 condos from April).

26 Condos Sold in May (Unchanged from April)

The inventory continues to decline in the Stuart condo market for the area in ZIP code 34996. Sales activity was unchanged from April and pending sales were down significantly from last month. We are approaching the slower time of the year for seasonal condos and it’s not unusual to see a lower number of pending sales and probably fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.

Compared to last year in May of 2011, the numbers were 211 active listings, 38 pending sales and 22 closed sales.  Considering the inventory is approximately 20% lower than last year, the market activity is very similar and thus better when considering the reduced number of available options in the 34996 Condo market in Stuart, Florida.