Hobe Sound FL 33455 Condo Market Report December 2016

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for December 2016

For December 2016 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 11 active condo listings. (Unchanged from November)

2 Condos are pending and awaiting close. (Down by 2 pending condos from November)

4 Condos sold in December. (Increased by 4 closed sales from November)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. Inventory remained unchanged while closed sales were up, while pending sales were off.

The absorption rate for Hobe Sound condos was 2.75 months for December 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 December 2015 numbers were: 4 active listings, 1 pending sales and 1 closed sales. It’s very difficult to make meaningful comparisons with such low numbers of sales and inventory, though there is increased activity for this year when compared with 2015.

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Hobe Sound FL 33455 Condo Market Report December 2016

Palm City FL 34990 Condo Market Report December 2016

01.21.17 by Gabe Sanders

Palm City FL 34990 Condo Market Report December 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for December 2016

For December 2016 in the 34990 Zip Code area of Palm City, Florida :

There are currently 86 active condo listings. (Increased by 6 condos from November)

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

4 Condos Sold in December. (Up by 1 condos from November)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. The inventory has risen considerably in the past few months while pending and closed sales have not kept pace.

The current absorption rate for condos in the 34990 zip code area jumped up to 21.5 months (was 40 months in December). Still an extreme buyers’ market for Palm City condominiums but trending in the right direction. A balanced market is considered to be an absorption rate of around 6 to 7 months.

The December 2015 numbers were: 52 active listings, 9 pending sales and 4 closed sales. Very similar closed and pending sales volume, though at a considerably greater inventory, so by percentage the activity is greatly reduced for this year.

Palm City FL 34990 Condo Market Report December 2016

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Palm City FL 34990 Condo Market Report December 2016

Stuart FL 34997 Condo Market Report December 2016

01.19.17 by Gabe Sanders

Stuart FL 34997 Condo Market Report December 2016

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for December 2016

For December 2016 in the 34997 Zip Code area of Stuart, Florida :

There are currently 83 active condo listings (Increased by 10 condos from November).

Stuart FL 34997 Condo Market Report December 2016

29 Condo sales are pending and awaiting close or lender approval (Up by 9 condos from November).

Stuart FL 34997 Condo Market Report December 2016

11 Condos Sold in December (Increased by 3 condos from November).

Stuart FL 34997 Condo Market Report December 2016

The Stuart FL condo market for zip code 34997 showed continued improvement from last month and is trending towards a more robust real estate market.

The absorption rate dropped to 7.5 months in December from 9.1 months for November. Continuing as a buyers’ market for the 34997 zip code of Stuart FL, though tending in the right direction. A 6 to 7 month absorption rate is typically considered to be a balanced market that favors neither the buyer nor the seller.

The December 2015 numbers were: 63 active listings, 19 pending sales and 21 closed sales. Better sales numbers from last year, though the pending listings this year look promising.

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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for December 2016

Stuart FL 34996 Condo Market Report December 2016

01.17.17 by Gabe Sanders

Stuart FL 34996 Condo Market Report December 2016

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for December 2016

For December 2016 in the 34996 Zip Code area of Stuart, Florida :

There are currently 153 active condo listings (Unchanged from last month).

35 Condo sales are pending and awaiting close or lender approval (Increased by 1 condos from November).

20 Condos Sold in December (Up by 8 condos from November)

The Stuart FL 34996 Condo Market of Stuart continued to show improving sales and pendings though it is still trying to catch up with the increases in inventory from the past few months.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 dropped to 7.65 months from November’s 12.8 months. Remaining in a buyers market for this segment of Martin County condos but trending in the right direction. A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for December 2015 were: 102 active listings, 31 pending sales and 18 closed sales. Fairly similar closed and pending volume as compared to December of 2015, but the inventory is considerably higher this year when compared to 2015.

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Stuart FL 34996 Condo Market Report December 2016

Stuart FL 34994 Condo Market Report December 2016

01.15.17 by Gabe Sanders

Stuart FL 34994 Condo Market Report December 2016

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for December 2016

For December 2016 in the 34994 Zip Code area of Stuart, Florida :

There are currently 86 active condo listings (Down by 12 condos from November).

36 Condo sales are pending and awaiting close or lender approval. (Increased by 6 condos from last month)

13 Condos Sold in December (Down by 7 condos from November).

The Stuart FL 34994 Condo market had a drop in inventory for this month and an increase in pending sales but also a decrease in closed sales.

The absorption rate for December dropped to 6.6 months compared to last month’s 4.9. Moving back into a balanced 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 December the numbers were 93 active listings, 29 pending sales, and 17 closed sales. Similar activity as compared to last year with a bit more closed sales and slightly less pending sales from last year.

Stuart, FL Real Estate

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Stuart Florida Market Report ZIP Code 34994 – Condo, December 2016

Portofino Condos at Jensen Beach January 2017 Market Update

01.13.17 by Gabe Sanders

Portofino Condos at Jensen Beach January 2017 Market Update

As of January 2017 there is only 1 condo available for sale in Portofino. It is listed for sale at a price of $92,500 and or $115.34 per sq. ft. of living area.

There are 2 condos under contract at this time. List prices were $125,000 and $147,000 for an average list price of $136,000 which is $118.94. These two condos averaged 49 days on the market before going under contract.

In the past 12 months, 6 Portofino condos have sold, ranging in sales price from $77,500 to $131,500 for an average sales price of $110,583 which equals a price per sq. ft. of $109.58. The average days on market was 39 and the average list to sales price ratio was 94%.

About the Portofino Condos at Jensen Beach:

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 January 2017 Market Update 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.

Portofino Condos at Jensen Beach

The Condo Owners Association fees range from $190 to $315 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.

Portofino Condos at Jensen Beach

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 January 2017 Market Update

Circle Bay Waterfront Condos Stuart FL January 2017 Market Report

01.07.17 by Gabe Sanders

Circle Bay Waterfront Condos Stuart FL January 2017 Market Report

As of January 2017, there are 7 condos for sale in the Circle Bay Yacht Club of Stuart FL. Listing prices range from $146,900 up to $259,000. The average listing price $180,843 which equals a price per square foot of living area of $170.62.

There are 3 Circle Bay condos under contract and awaiting close. The list prices are from $167,000 to $259,000 for an average list price of $218,500 which equals $198.75 per sq. ft. of living area. These condos averaged 81 days on market prior to receiving an acceptable offer.

In the past 12 months, 18 Circle Bay Waterfront Condos have sold. Sales prices ranged from $95,500 to $258,000 for an average sales price of $164,856 which is $161.15 per sq. ft. These condos sold for an average of 94% of the last listed price and in an average of 113 days on market prior to accepting an offer that resulted in the sale.

The Circle Bay condo complex is a waterfront 55+ condo community with docks (for boats up to 36′) that have easy wide river and ocean access. Docks are not deeded, rather rented at reasonable monthly rates. Heated pools, clubhouse, grills, etc. are some of the numerous amenities available for residents of the Circle Bay Yacht Club. Rentals are permitted with restrictions. Sorry, no pets. Circle Bay has both elevator and non-elevator buildings. Covered car ports.

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Circle Bay Waterfront Condos Homes for Sale in Palm City Florida

Circle Bay Waterfront Condos Stuart FL January 2017 Market Report

Florida Townhouses and Condos November 2016 Market Detail

12.29.16 by Gabe Sanders

Florida Townhouses and Condos November 2016 Market Detail

The Florida Townhouses and Condos Market Detail for November 2016 showed gains for the month as compared to both the previous year and the previous month. Closed sales were up by 4.1% as compared to last months decrease of 12.3% and new sales under contract (new pending sales) increased by 2.3% (In October there was a 14.5% decrease).

Values, also, continued to increase though at a more moderate pace. Median sales prices were up by 8% (was up by 8.1% in October), while the average sales price increased by 4.5% (was up 0.5% in October). As sales activity decreases and if inventory continues to increase, I expect these prices to continue to moderate, though they are staying pretty resilient at this time.

The inventory increased by 13% from November of last year. For October 2016 we have 6.1 months of inventory (was 5.9 months in October) and compared to 5.4 for November 2015. We are now 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 November 2016 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 November 2016 Market Detail

Hobe Sound FL 33455 Condo Market Report November 2016

12.26.16 by Gabe Sanders

Hobe Sound FL 33455 Condo Market Report November 2016

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for November 2016

For November 2016 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 11 active condo listings. (Up by 5 condos from October)

4 Condos are pending and awaiting close. (Up by 3 pending condos from October)

No Condos sold in November. (Decreased by 1 closed sales from October)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. We have finally seen a small increase in inventory as well as pending sales which should show increased activity in future months.

With no sale for November, the absorption rate cannot be determined. 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 November 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 November 2015 numbers were: 4 active listings, 1 pending sales and 1 closed sales. It’s very difficult to make meaningful comparisons with such low numbers of sales and inventory.

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Hobe Sound Florida Real Estate presented by:
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Hobe Sound FL 33455 Condo Market Report November 2016

Palm City FL 34990 Condo Market Report November 2016

12.21.16 by Gabe Sanders

Palm City FL 34990 Condo Market Report November 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for November 2016

For November 2016 in the 34990 Zip Code area of Palm City, Florida :

There are currently 80 active condo listings. (Increased by 4 condos from October)

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

3 Condos Sold in November. (Down by 2 condos from October)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. Inventory has continued to rise while for this month sales were off making for a pretty strong buyers market. The bright note is an improved pending sales volume.

The current absorption rate for condos in the 34990 zip code area jumped up to 40 months (was 15.2 months in November). Currently an extreme buyers’ market for Palm City condominiums. A balanced market is considered to be an absorption rate of around 6 to 7 months.

The November 2015 numbers were: 53 active listings, 8 pending sales and 8 closed sales. Only the pending sales activity is improved when comparing last year’s activity.

Palm City FL 34990 Condo Market Report November 2016