Stuart FL 34997 Condo Market Report June 2017

07.18.17 by Gabe Sanders

Stuart FL 34997 Condo Market Report June 2017

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for June 2017

For June 2017 in the 34997 Zip Code area of Stuart, Florida:

There are currently 50 active condo listings (Decreased by 11 condos from May).

33 Condo sales are pending and awaiting close or lender approval (Increased by 11 condos from May).

Stuart FL 34997 Condo Market Report June 2017

7 Condos Sold in June (Decreased by 30 condos from May).

Stuart FL 34997 Condo Market Report June 2017

The Stuart FL condo market for zip code 34997 is showing some strange numbers with sales dropping significantly from last month (which was an abnormally strong month). Pending sales remain strong but inventory is dropping to troubling levels.

The absorption rate plunged to 7.1 months in June compared to 1.6 months for May. Back into a buyers’ 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 June 2016 numbers were: 74 active listings, 27 pending sales, and 24 closed sales. Considerably stronger closed sales last year while we have a little better pending sales numbers for this year. Though, a troubling decrease in available condos for sale.

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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for June 2017

Portofino Condos at Jensen Beach July 2017 Market Report

07.18.17 by Gabe Sanders

Portofino Condos at Jensen Beach July 2017 Market Report

As of July 2017 there are 2 condos available for sale in Portofino. List prices are $98,500 and $150,000 which averages to $124,250 or $132.69 per sq. ft. of living area.

There is 1 condo under contract at this time. This condo was listed for $125,000 which is $99.84 and was on the market for 70 days before going under contract.

In the past 12 months, 10 condos have sold in Portofino, ranging in sales price from $93,500 to $164,500 for an average sales price of $124,000 which equals a price per sq. ft. of $128.65. The average days on market was only 16 and the average list to sales price ratio was 95%.

About the Portofino Condos at Jensen Beach:

Portofino of Jensen Beach is a gorgeous gated condo community that’s just great for families or singles. Portofino offers fantastic amenities such as a resort-style pool and hot tub, a state-of-the-art fitness center, and an indoor air-conditioned racquetball court along with outdoor tennis court. A business center is also available that delivers the conveniences of a home office, with computers, a copier, and a fax machine to keep you connected. A children’s playground is also available. This community is only 10 minutes from the beaches, and it is just minutes to both Jensen Beach Elementary School and Jensen Beach High School. Jensen Beach students also attend Stuart Middle School which is only about 15 minutes away.

Portofino Condos at Jensen Beach are one of the newest condominium subdivisions in Martin County. Originally built as an upscale apartment complex around 2000, this development was turned into condominiums and began sales in 2005. Due to the downturn in the housing market, not all units were sold and some are now being offered for lease. Portofino Condos at Jensen Beach July 2017 Market Report features 1, 2 and 3 bedroom units with separate garage parking as an added purchase when available. Unit sizes are 802 sq. ft. for the 1 Bedroom 1 bath, 1074 sq. ft. for the 2 Bedroom 2 bath, and 1252 sq. ft. for the 3 Bedroom 2 bath.

With a total of 384 units, there are 116 one-bedroom, 196 two-bedroom, and 72 three-bedroom units within Portofino that are spacious and include balconies! Portofino provides luxury living for its residents, set in a peaceful Florida preserve atmosphere, many with lake views. Living in Portofino of Jensen Beach you will feel like you are on vacation year round!

The Condo Owners Association fees range from $209 to $330 per month depending on unit size and for garage owners, there’s an additional $20 per month charge. Fees include the extensive grounds and gated entry as well as the amenities, which include a large community pool, heated whirlpool, state of the art fitness center, indoor racquetball court, tennis court, playground and a private clubhouse with a full kitchen.

All ages are welcome in Portofino Condos at Jensen Beach. Children attend Martin County’s highly rated school system, currently at Jensen Beach elementary school, Stuart middle school and Jensen Beach high school. Portofino Condos is close to the Treasure Coast mall as well as numerous shops and restaurants, medical facilities and only a few minutes to the waterways of Martin County and the beaches of Hutchinson Island.

For information about sales or rentals of Portofino Condos in Jensen Beach, please call the Gabe Sanders real estate team at 772-323-6996 or contact us here.

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Portofino Condos at Jensen Beach July 2017 Market Report

Stuart FL 34996 Condo Market Report June 2017

07.14.17 by Gabe Sanders

Stuart FL 34996 Condo Market Report June 2017

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for June 2017

For June 2017 in the 34996 Zip Code area of Stuart, Florida :

There are currently 132 active condo listings (Decreased by 5 condos from last month).

40 Condo sales are pending and awaiting close or lender approval (Increased by 4 condos from May).

26 Condos Sold in June (Down by 4 condos from May)

The Stuart FL 34996 Condo Market of Stuart had continued strong sales activity for June. Just minor differences from last months strong activity.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 increased to 5.1 months from May’s 4.6 months. Remaining as a sellers market for this segment of Martin County condos, but drifting towarsd a balanced market. A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for June 2016 were: 74 active listings, 27 pending sales and 21 closed sales. Stronger activity for this year when compared to June of 2016.

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Stuart FL 34996 Condo Market Report June 2017

Stuart FL 34994 Condo Market Report June 2017

07.12.17 by Gabe Sanders

Stuart FL 34994 Condo Market Report June 2017

Stuart FL Snapshot for ZIP Code 34994, Condo Sales for June 2017

For June 2017 in the 34994 Zip Code area of Stuart, Florida :

There are currently 90 active condo listings (Up by 5 condos from May).

39 Condo sales are pending and awaiting close or lender approval. (Decreased by 2 condos from last month)

21 Condos Sold in June (Up by 3 condos from May).

The Stuart FL 34994 Condo market remains very active. Only small changes in activity levels when compared to last month.

The absorption rate for June decreased to 4.3 months compared to last month’s 4.7. A slightly stronger sellers’ market for this condo segment of Stuart’s 34994 zip code area. 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 June the numbers were 76 active listings, 30 pending sales, and 27 closed sales. Better activity last year and on a smaller inventory.

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Stuart Florida Market Report ZIP Code 34994 – Condo, June 2017

Florida Townhouses and Condos May 2017 Market Detail

06.24.17 by Gabe Sanders

Florida Townhouses and Condos May 2017 Market Detail

The Florida Townhouses and Condos Market Detail for May 2017 showed continued growth when compared to last year. Closed sales were up by 8.0% as compared to last month’s decrease of 4.0% and new sales under contract (new pending sales) increased by 8.0% (In April there was a 5.5% decrease).

Prices rose for the month. Median sales prices were up by 8.1% (was up by 7.2% in April), while the average sales price decreased by 8.0% (was down 0.9% in April). Back to steadily increasing values.

The inventory of active listings decreased by 1.5% from May of last year. For May 2017 we have 6.0 months of inventory (was 6.1 months in April) and compared to 6.1 months for May 2016. We remain in a balanced 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 detail report from Florida Realtors: Click here to view or download the full report:
Florida Townhouses and Condos May 2017 Market Detail

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 May 2017 Market Detail

Hobe Sound FL 33455 Condo Market Report May 2017

06.22.17 by Gabe Sanders

Hobe Sound FL 33455 Condo Market Report May 2017

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for May 2017

For May 2017 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 16 active condo listings. (Increased by 1 condos from April)

5 Condos are pending and awaiting close. (Down by 1 condo from April)

2 Condos sold in May. (Decreased by 2 condos from April)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. Closed sales were off for this month, but overall the market activity is still very good.

The absorption rate for Hobe Sound condos decreased to 8 months for May (was 3.8 in April). Back into a buyers’ market for Hobe Sound condos. 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 on 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 May 2016 numbers were: 5 active listings, 7 pending sales and 0 closed sales. Better activity this year as the inventory has just about tripled.

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Hobe Sound FL 33455 Condo Market Report May 2017

Palm City FL 34990 Condo Market Report May 2017

06.18.17 by Gabe Sanders

Palm City FL 34990 Condo Market Report May 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for May 2017

For May 2017 in the 34990 Zip Code area of Palm City, Florida :

There are currently 76 active condo listings. (Decreased by 10 condos from April)

11 Condo sales are pending and awaiting close or lender approval. (Up by 2 condos from last month)

4 Condos Sold in May. (Down by 4 condos from April)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. Market activity remains pretty slow for Palm City condos and remains a difficult market for sellers. (Though a good part of this difficulty comes from two equity golf club communities.)

The current absorption rate for condos in the 34990 zip code area jumped to 19 months (was 10.8 months in May). A strong buyers’ market for Palm City condominiums. A balanced market is considered to be an absorption rate of around 6 to 7 months.

The May 2016 numbers were: 62 active listings, 13 pending sales and 7 closed sales. Better volume on lower inventory from last year.

Palm City FL 34990 Condo Market Report May 2017

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Palm City Florida Real Estate presented by:
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Palm City FL 34990 Condo Market Report May 2017

Stuart FL 34997 Condo Market Report May 2017

06.16.17 by Gabe Sanders

Stuart FL 34997 Condo Market Report May 2017

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for May 2017

For May 2017 in the 34997 Zip Code area of Stuart, Florida :

There are currently 61 active condo listings (Decreased by 9 condos from April).

Stuart FL 34997 Condo Market Report May 2017

22 Condo sales are pending and awaiting close or lender approval (Decreased by 22 condos from April).

Stuart FL 34997 Condo Market Report May 2017

37 Condos Sold in May (Increased by 32 condos from April).

Stuart FL 34997 Condo Market Report May 2017

The Stuart FL condo market for zip code 34997 had a surprisingly large jump in closed sales after a disapointing prior month. Pending sales are down, though, an it will be very difficult to have this kind of activity continue through the coming summer months. The inventoy is also down.

The absorption rate plunged to 1.6 months in May from 14 months for April. A huge shift into a sellers’ 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 2016 numbers were: 73 active listings, 40 pending sales and 17 closed sales. Considerably stronger closed sales this month compared to last year.