Stuart FL 34997 Condo Market Report May 2018

06.22.18 by Gabe Sanders

Stuart FL 34997 Condo Market Report May 2018

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for May 2018

For May 2018 in the 34997 Zip Code area of Stuart, Florida:

There are currently 50 active condo listings (Down by 7 condos from April).

26 Condo sales are pending and awaiting close or lender approval (Up by 7 condos from April).

Stuart FL 34997 Condo Market Report May 2018

17 Condos Sold in May (Increased by 8 condos from April).

Stuart FL 34997 Condo Market Report May 2018

The Stuart FL condo market for zip code 34997 showed strong activity for May. Both pending and closed sales improved from last month, whilewe remain in great need of more condos available to purchase (inventory) in this area of Stuart FL.

The absorption rate plunged to 2.9 months in May compared to 6.3 months for April. Back into a strong seller’s market for the 34997 zip code of Stuart FL. A 6 to 7-month absorption rate is typically considered to be a balanced market that favors neither the buyer nor the seller.

The May 2017 numbers were: 61 active listings, 22 pending sales, and 37 closed sales. Better sales activity last year even though pending sales were a bit stronger this year. This is all with a reduced number of condos available for sale

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Stuart FL 34997 Condo Market Report May 2018

Stuart FL 34996 Condo Market Report May 2018

06.20.18 by Gabe Sanders

Stuart FL 34996 Condo Market Report May 2018

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for May 2018

For May 2018 in the 34996 Zip Code area of Stuart, Florida :

There are currently 118 active condo listings (Down by 7 condos from last month).

46 Condo sales are pending and awaiting close or lender approval (Down by 13 condos from April).

40 Condos Sold in May (Up by 1 condos from April)

The Stuart FL 34996 Condo Market of Stuart continues with strong sales and pending activity. Pending numbers were off from last month which is not unexpected as we dip into lower inventory levels. This should effect future sales volume for the coming months.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 dropped to 3.0 months from April’s 3.2 months. Still in a very strong sellers’ market for this segment of Martin County condos. A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for May 2017 were: 137 active listings, 36 pending sales, and 30 closed sales. There is better pending and sales activity this year with a significantly lower inventory of available condos for sale. Very impressive results this month.

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Stuart FL 34996 Condo Market Report May 2018

Stuart FL 34994 Condo Market Report May 2018

06.18.18 by Gabe Sanders

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).

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

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

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..

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Stuart FL 34994 Condo Market Report May 2018

Florida Townhouses and Condos April 2018 Market Report

06.07.18 by Gabe Sanders

Florida Townhouses and Condos April 2018 Market Report

The Florida Townhouses and Condos April 2018 Market Report rebounded from last month with stronger market activity when compared to last year. Closed sales were up by 9.2% as compared to last month’s decrease of 1.8% and new sales under contract (new pending sales) increased by 7.4% (In March there was a 3.7% decrease).

Prices, also, continued their upward march for April. Median sales prices were up by 10.5% (was up by 7.0% in March), while the average sales price increased by 9.6% (was up 5.1% in March).

The inventory of active listings decreased by 2.5% from April of last year. For April 2018 we have 5.8 months of inventory (was 5.9 months in March) and compared to 6.1 months for April 2017. We remain in a seller’s market for Florida townhouse and condo sales. A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.

Click on the link below or the graphic to see the full market Report report from Florida Realtors: Click here to view or download the full report:
Florida Townhouses and Condos April 2018 Market Report

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Townhouses and Condos April 2018 Market Report

Hobe Sound FL 33455 Condo Market Report April 2018

05.28.18 by Gabe Sanders

Hobe Sound FL 33455 Condo Market Report April 2018

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for April 2018

For April 2018 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 8 active condo listings. (Decreased by 1 condos from March)

5 Condos are pending and awaiting close. (Down by 4 condos from March)

7 Condos sold in April. (Increased by 5 condos from March)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. Good sales results for April but the ultra-low inventory of available condos for sale will negatively affect future activity.

The absorption rate for Hobe Sound condos was 1.1 months for April as compared to 4.5 months in March). Absorption rates in this segment of the Martin County real estate market should be taken with a liberal grain of salt, as small changes in activity make for very large changes in percentages that do not reflect a true trend in the market. An absorption rate of 6 to 7 months is considered to be a balanced market favoring neither the buyer or seller.

The April 2017 numbers were: 15 active listings, 6 pending sales, and 4 closed sales. Better closed sales numbers this year, but also a greatly reduced inventory of available condos for sale.

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Hobe Sound FL 33455 Condo Market Report April 2018

Conquistador Homes and Condos Market Report May 2018

05.26.18 by Gabe Sanders

Conquistador Homes and Condos Market Report May 2018

Homes: There are 2 homes currently on the market in Conquistador Estates. These homes are listed for $296,500 and $349,888 which averages to $332,092 or $200.75 per sq. ft. of living area.

There is one home currently under contract. The list price was $279,000 which works out to $105.08 per sq. ft. of living area. This home was on the market for 119 days prior to going under contract.

In the past 12 months, there have been 7 sales in Conquistador Estates. Sales prices ranged from $201,000 up to $360,000 for an average sales price of $268,214 which equals $155.72 per sq. ft. of living area. These homes were on the market for an average of 48 days prior to going under contract and sold for 93% of the listed price.

Condos: There are currently 2 condos for sale in Conquistador. Listing prices are $134,888 and $155,000. The average list price is $144,944 which equals $131.99 per sq. ft. of living area.

4 Condos are under contract awaiting settlement. List prices ranged from $95,000 up to $138,000 for an average of $114,700 which works out to $113.61 per sq. ft. of living area. These condos were on the market for an average of 51 days prior to going under contract.

In the past 12 months, 26 condos have sold in Conquistador. Sales prices ranged from $100,000 up to $220,000. The average sales price was $140,584 which equals $125.06 per sq. ft. of living area. These sales averaged a 95% list to sales ratio as well as going under contract in an average of 105 days after being listed.

About Conquistador Homes and Condos in Stuart FL:

Conquistador homes and condos are in the prime senior location in Stuart Florida. The Conquistador community is located on the shores of the wide Saint Lucie River and only minutes from the beaches of the Atlantic Ocean as well as being right next door to the Martin County Municipal Golf Course with easy access to shopping, restaurants, medical facilities.

Conquistador is a mix of single family homes (the estate’s section) and 3 story condominiums. The condominiums have access to their own pool areas as well as barbecue areas or the main clubhouse pool.

This is a very active senior community with an active clubhouse with fitness room, main ballroom, reading library and activities throughout the year. Conquistador is not just a seasonal residence as many owners enjoy the benefits of year round living in fabulous Martin County with all the amenities that this jewel of the Treasure Coast has to offer.

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For any questions you May have about Conquistador Homes and Condos in Stuart, Florida, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

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Conquistador Homes and Condos Market Report May 2018

Palm City FL 34990 Condo Market Report April 2018

05.22.18 by Gabe Sanders

Palm City FL 34990 Condo Market Report April 2018

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for April 2018

For April 2018 in the 34990 Zip Code area of Palm City, Florida :

There are currently 88 active condo listings. (Decreased by 8 condos from March)

15 Condo sales are pending and awaiting close or lender approval. (Up by 3 condos from last month)

7 Condos Sold in April. (Down by 2 condos from March)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. For April there was an improvement pending sales while closed sales were down by 2 condos. The Palm City condo market is hampered by two equity golf course communities with slow sales in the current environment.

The current absorption rate for condos in the 34990 zip code area climbed to 12.6 months (was 10.7 months in July). Still in a buyer’s market for Palm City condominiums. A balanced market is considered to be an absorption rate of around 6 to 7 months.

The April 2017 numbers were: 86 active listings, 9 pending sales, and 8 closed sales. Very similar activity as compared to last year with the exception of considerably better pending activity this year.

Palm City FL 34990 Condo Market Report April 2018

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Palm City FL 34990 Condo Market Report April 2018

Stuart FL 34997 Condo Market Report April 2018

05.18.18 by Gabe Sanders

Stuart FL 34997 Condo Market Report April 2018

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for April 2018

For April 2018 in the 34997 Zip Code area of Stuart, Florida:

There are currently 57 active condo listings (Up by 1 condos from March).

19 Condo sales are pending and awaiting close or lender approval (Down by 4 condos from March).

Stuart FL 34997 Condo Market Report April 2018

9 Condos Sold in April (Decreased by 11 condos from March).

Stuart FL 34997 Condo Market Report April 2018

The Stuart FL condo market for zip code 34997 showed slower activity for April after a red-hot March. Pending sales are off by quite a lot as were the closed sales. In great need of more condos available for sale in this area of Stuart FL.

The absorption rate jumped to 6.3 months in April compared to 2.4 months for March. Back into a balanced market for the 34997 zip code of Stuart FL. A 6 to 7-month absorption rate is typically considered to be a balanced market that favors neither the buyer nor the seller.

The April 2017 numbers were: 70 active listings, 44 pending sales, and 5 closed sales. Better closed activity this year even with a significantly reduced number of condos for sale. The pending numbers are not as good.