Stuart FL 34996 Condo Market Report September 2016

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

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

There are currently 132 active condo listings (Up by 12 condos last month).

25 Condo sales are pending and awaiting close or lender approval (Decreased by 8 condos from August).

21 Condos Sold in September (Up by 5 condos from August) 

The Stuart FL 34996 Condo Market of Stuart showed some gains from last month and is back into a balanced market.  Inventory is increasing and we will need to see corresponding increases in sales activity for the near future.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 was down to 6.3 months from August’s 7.4 months.  Back in a balanced market for this segment of Stuart FL condos after two months as a sellers market.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for September 2015 were: 76 active listings, 41 pending sales and 29 closed sales.  This years market activity is not as strong as it was last year.

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Stuart FL 34994 Condo Market Report September 2016

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

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

There are currently 92 active condo listings (Up by 3 condos from August).

28 Condo sales are pending and awaiting close or lender approval. (Decreased by 4 condos from last month) 

18 Condos Sold in September (Up by 2 condos from August).

The Stuart FL 34994 Condo market continues with strong activity as the summer draws to a close.  This is somewhat unexpected for the condo market in the summer.  Hopefully, this is a good indication of continued strong activity as we head into the fall and winter months.

The absorption rate for September decreased to 5.1 months compared to last month’s 5.6. Continuing as a sellers market for the second month in a row for this condo segment of Stuart’s 34994 zip code area.  This is somewhat surprising as condo sales often slow down during the summer months.  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 September the numbers were 71 active listings, 35 pending sales, and 11 closed sales.   Better closed activity this year along with an increase in inventory.

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Stuart FL 34996 Condo Market Report August 2016

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

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

There are currently 120 active condo listings (Down by 2 condos last month).

33 Condo sales are pending and awaiting close or lender approval (Unchanged from July).

16 Condos Sold in August (Unchanged from July) 

The Stuart FL 34996 Condo Market of Stuart continues showing some weakness.  There was no change in sales or pending sales from last month with only a minor drop in inventory.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 inched down slightly to 7.4 months from July’s 7.5 months.  Continuing a second month of being sellers’ market for this segment of Stuart FL condos.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for August 2015 were: 78 active listings, 53 pending sales and 20 closed sales.  A significant increase in available condos for sale as compared to last August while also having considerably less closed and pending sales.

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Stuart FL 34994 Condo Market Report August 2016

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

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

There are currently 89 active condo listings (Up by 15 condos from July).

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

16 Condos Sold in August (Up by 6 condos from July).

The Stuart FL 34994 Condo market showed a nice bounce back from a slow July as both pending and closed sales saw an increase.

The absorption rate for August decreased to 5.6 months compared to last month’s 7.4.  Once again back into a sellers’ market for this condo segment of Stuart’s 34994 zip code area.  This is somewhat surprising as condo sales often slow down during the summer months.  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 August the numbers were 76 active listings, 27 pending sales, and 14 closed sales.   Somewhat greater activity for August of 2016 with a slightly higher inventory as well.

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Stuart FL 34996 Condo Market Report July 2016

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

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

There are currently 120 active condo listings (Up by 46 condos last month).

33 Condo sales are pending and awaiting close or lender approval (Increased by 6 condos from June).

16 Condos Sold in July (Decreased by 5 condos from June) 

The Stuart FL 34996 Condo Market of Stuart regained the lost inventory from last month while showing a little weakness in closed sales.  This is not uncommon for the summer months for Florida condo sales.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 rose to 7.5 months from June’s 3.5 months.  Into a slight sellers’ market for July.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for July 2015 were: 92 active listings, 42 pending sales and 16 closed sales.  An equal number of closed sales from last year though we have less pending sales on a larger inventory of condos for this year..

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