There are currently 106 active condo listings (A decrease of 13 condos form November).

21 Condo sales are pending and awaiting close or lender approval (Down 3 condos from November).

15 Condos Sold in June (An increase of 10 condos from November).

A strong end of the year for the Stuart condo market for the area in ZIP code 34997.  Inventory decreased and sales tripled from the month before.  Pending sales were off slightly.

There are currently 119 active condo listings (A decrease of 1 condo from October).

24 Condo sales are pending and awaiting close or lender approval (Up 11 from October).

5 Condos Sold in June (Down 5 from October).

Bucking the trend for the other Stuart condo area market snapshots, the Stuart condo market for the area in ZIP code 34997 showed a decrease in inventory as well as an increase in pending sales.  Unfortunately closed sales were also off.

Compared to last year, inventory is significantly reduced (179 units to the present 119).  The sales and pendings are basically unchanged.  The majority of sales in this market area remain in the lower price ranges.

For October 2011 in the 34997 Zip Code area of Stuart, Florida :

There are currently 120 active condo listings (An increase of 8 units from September).

13 Condo sales are pending and awaiting close or lender approval (Down 3 from September).

10 Condos Sold in June (Up 6 from September).

The Stuart condo market for the area in ZIP code 34997 had a very weak September, so an increase in closed sales was welcome in October.  Unfortunately along with the increase in closed sales, there has also been an increase in inventory (also true for all other areas in Martin County) as we head into the holiday season.  Typically we see a fairly slow couple of months with activity starting to pick back up in January. 

Sellers should hope that the inventory doesn’t pick up by too much as this will have a negative influence on sales prices.

There are currently 112 active condo listings (An increase of 5 units from August).

16 Condo sales are pending and awaiting close or lender approval (Unchanged from August).

4 Condos Sold in June (Down 5 from August).

The Stuart condo market for the area in ZIP code 34997 showed the weakest results for September in the three areas of Stuart that we watch.  An increase in inventory along with a decrease in sales.  This is the off-season for condos so this is hopefully just the season and not a bad trend beginning.  

The increase in inventory may also be attributable to some sellers trying to time the market as well as a reaction from recent relatively good sales for the past spring and summer seasons.  Most efforts to time the market, especially when made in relatively large numbers become self-defeating as in this trying market, this increase in inventory may just drive the market a bit lower.

However, for buyers, especially for those who can obtain financing, there hasn’t been a more attractive real estate market in decades.  There are some savvy buyers getting excellent deals for homes at prices equivalent to 10 or 11 years ago.

This will be an interesting season to watch!