Martin County Florida Condo Market Report for August 2012

09.29.12 by

Martin County Florida Condo Market Report for August 2012

 

Commentary:

The Martin County Florida Condo Market for August 2012 is showing signs of our typical summer slowdown.  Sales for August were down to 46 units from 57 in July.  Though this is still slightly better than August of 2011 which had 43 sales.  The inventory was up by 7 units and is basically holding steady as last year at this time it was 618 condos available for sale.  I would not be surprised to see more inventory growth as we get into the upcoming  fall and winter condo season.  Both average and median sales prices were off again for August reflecting a continued pressure on pricing in the local condo market.  Also, the mix of sales has been in the lower price ranges, as the more expensive, typically ocean front condos tend to have better sales in the winter and spring season..

The one month absorption rate is up to 12.6 months, while the three-month average is at 10.4 months.  Still a very challenging market for sellers with the accompanying quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

Currently, the condo market is under-performing as compared to our residential market and the condo markets of our southern neighbors.  I do expect this trend to stop as buyers realize the bargains currently available in the Martin County condo market.

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The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for August 2012

the Gabe Sanders real estate team

Condo Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate


Hobe Sound Florida Market Report ZIP Code 33455 – Condo, August 2012

09.27.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, August 2012

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for August 2012

 

For August 2012 in the 33455 Zip Code area of Hobe Sound, Florida :

 

There are currently 26 active condo listings. (Down 2 from July)

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

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  2 Condos sold in August (A decrease of 1 condos from July)

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The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  August showed very little change from last month.  With only 26 units available it’s fairly slim pickings in the Hobe Sound Florida Market Report ZIP Code 33455 condo market. Small changes in any metric will reflect large changes in market activity and unless some dramatic changes occur, I would expect the Hobe Sound condo market to remain fairly static.

The one month absorption rate is 13 months, signifying that it’s still a buyers market.  Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.  But, with such low numbers, these indicators can easily be misleading.

The August 2011 numbers were:  42 active listings, 6 pending sales and 3 closed sales.  Other than a significantly lower inventory, very similar results.



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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, August 2012

 

Stuart Florida Market Report ZIP Code 34997 – Condo, August 2012

09.18.12 by

Stuart Florida Market Report ZIP Code 34997 – Condo, August 2012

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for August 2012

 

For August 2012 in the 34997 Zip Code area of Stuart, Florida :

 

There are currently 98 active condo listings (A decrease of 2 condo form July).

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24 Condo sales are pending and awaiting close or lender approval (Down 4 condos from July).

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15 Condos Sold in August (An increase of 2 condos from July).

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Bucking the trend for the other condo markets in Martin County, the Stuart condo market for the area in ZIP code 34997 had excellent numbers for August of 2012.  Inventory is now down to only 98 units while both pending and closed sales rose.

The one month absorption rate is at 6.5 months, which is basically a balanced market, favoring neither the seller or buyer.

The August 2011 numbers were: 107 active listings, 16 pending sales and 9 closed sales.  A considerable improvement this year from 2011.

 

Stuart Florida Real Estate presented by:
Gabe Sanders

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for August 2012

 

 

Stuart Florida Market Report ZIP Code 34996 – Condo, August 2012

09.14.12 by

Stuart Florida Market Report ZIP Code 34996 – Condo, August 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for August 2012

For August 2012 in the 34996 Zip Code area of Stuart, Florida :

 

There are currently 190 active condo listings (Unchanged from last month).

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19 Condo sales are pending and awaiting close or lender approval (an increase of 2 condos from July).

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12 Condos Sold in August (Unchanged from July)

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The Stuart Florida Market Report ZIP Code 34996 for Condos was basically unchanged from July.  The only difference was an increase of 2 pending sales.  We are now in the off peak season for condos and it’s not unusual to see a lower number of pending sales and fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just under 16 months.  Still a very strong buyers market for now.

The numbers for August 2011 were: 192 active listings, 29 pending sales and 12 closed sales.  Very similar numbers to the current market.

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Stuart Florida Market Report ZIP Code 34996 – Condo, August 2012

Stuart Florida Market Report ZIP Code 34994 – Condo, August 2012

09.12.12 by

Stuart Florida Market Report ZIP Code 34994 – Condo, August 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for August 2012

For August, 2012 in the 34994 Zip Code area of Stuart, Florida :

 

There are currently 143 active condo listings (Down 10 condos from July).

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43 Condo sales are pending and awaiting close or lender approval. (Up 13 from last month)

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13 Condos Sold in August (Decreased by 4 condos from July).

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Somewhat surprisingly strong results for the Stuart Condo market for zip code 34994.  While sales were off by 4 condos, pending sales were up by a significant 13 units.  The available inventory also decreased significantly.  The one month absorption rate is at 11.8 months, which still signifies a buyers market.  And, it appears that the buyers are indeed buying, even during the typically slower condo season.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither a buyers or sellers market.

Last August the numbers were 136 active listings, 43 pending sales, and 16 closed sales.  There is still great room for improvement in this segment of the Stuart Florida condo market.

Search here for Stuart Florida Real Estate for Sale ( Condos)

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Stuart Florida Market Report ZIP Code 34994 – Condo, August 2012

Martin County Florida Condo Market Report for July 2012

08.31.12 by

Martin County Florida Condo Market Report for July 2012

 

Commentary:

The Martin County Florida Condo Market for July 2012 is showing signs of improvement even though we are now in the typically slower summer season for condo sales.  Sales for July were a strong 57 units, which is the highest number of condo sales for a July since 2005.  The inventory continues to shrink, although at a slower rate.  I would not be surprised to see some inventory growth as we get into the upcoming  fall and winter condo season.   For the first time in five months, we’ve seen a drop in median sales prices.  Rather than a decrease in values, this is indicative of a greater number of lower priced condos in the mix of the completed sales.

The inventory is now down to 571 condos, down from the 652 condos that were on the market in July of 2011. The one month absorption rate is now at 10.02 months, while the three-month average is at 8.99 months.  While it remains a somewhat challenging market for condos in Martin County, there are some signs of life as prices across the board have declined significantly. We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

With any change to a favorable consumer sentiment, I expect condo sales to pick up dramatically this coming season as nervous potential vacation home buyers will have the courage to step off the sidelines.

[singlepic id=2633 w=600 h=600 float=center]

The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for July 2012

the Gabe Sanders real estate team

Condo Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate


Hobe Sound Florida Market Report ZIP Code 33455 – Condo, July 2012

08.29.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, July 2012

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for July 2012

 

For July 2012 in the 33455 Zip Code area of Hobe Sound, Florida :

 

There are currently 28 active condo listings. (Down 2 from June)

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7 Condo sales are pending and awaiting close or lender approval. (Down 1 from June)

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  3 Condos sold in July (A decrease of 3 condos from June)

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The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. July showed fewer closed sales, one less pending sale recorded as well as another decrease in inventory.  With only 28 units available it’s fairly slim pickings in the Hobe Sound Florida Market Report ZIP Code 33455 condo market.

The one month absorption rate is 9.3 months, signifying that it’s still a buyers market.  Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.  But, with such low numbers, these indicators can easily be misleading.



Search here for Hobe Sound Florida Real Estate for Sale ( Condos)
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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, July 2012

 

Stuart Florida Market Report ZIP Code 34997 – Condo, July 2012

08.20.12 by

Stuart Florida Market Report ZIP Code 34997 – Condo, July 2012

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for July 2012

 

For July 2012 in the 34997 Zip Code area of Stuart, Florida :

 

There are currently 100 active condo listings (A decrease of 9 condo form June).

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28 Condo sales are pending and awaiting close or lender approval (Up 2 condos from June).

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13 Condos Sold in July (An increase of 3 condos from June).

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Bucking the trend for the other condo markets in Martin County, the Stuart condo market for the area in ZIP code 34997 had excellent numbers for July of 2012.  Inventory is now down to only 100 units while both pending and closed sales rose.

The one month absorption rate is at 7.7 months.  Still a slight buyers market, as a six moth absorption rate typically signifies a balanced market favoring neither the seller or buyer.

 

Stuart Florida Real Estate presented by:
Gabe Sanders

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for July 2012

 

 

Stuart Florida Market Report ZIP Code 34996 – Condo, July 2012

08.17.12 by

Stuart Florida Market Report ZIP Code 34996 – Condo, July 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for July 2012

For July 2012 in the 34996 Zip Code area of Stuart, Florida :

 

There are currently 190 active condo listings (Up 5 from last month).

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17 Condo sales are pending and awaiting close or lender approval (A decrease of 10 condos from June).

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12 Condos Sold in July (Down 8 from June)

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Not a very good month for the  Stuart Florida Market Report ZIP Code 34996 for Condos  We are now in the off peak season for condos and it’s not unusual to see a lower number of pending sales and fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.  For the first time in months, we’ve also seen a small increase in inventory as well.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just under 16 months.  Still a very strong buyers market for now.

Search here for Stuart Florida Real Estate for Sale ( Condos)

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Stuart Florida Market Report ZIP Code 34996 – Condo, July 2012

Stuart Florida Market Report ZIP Code 34994 – Condo, July 2012

08.14.12 by

Stuart Florida Market Report ZIP Code 34994 – Condo, July 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for July 2012

For July, 2011 in the 34994 Zip Code area of Stuart, Florida :

 

There are currently 153 active condo listings (Up 13 condos from June).

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30 Condo sales are pending and awaiting close or lender approval. (Down 10 from last month)

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17 Condos Sold in July (Increased by 5 condos from June).

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The Stuart Condo market for zip code 34994 showed an increase in closed for July, after a disappointing June. A little bit of a surprise as we head into the historically slower season for condo sales.   Pending sales were off by 25% and also a surprise, we’ve had the first increase in inventory in quite some time.  Most sales were in the more modest categories of under $80,000.

The one month absorption rate for this market is now 9 months.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither a buyers or sellers market.

Search here for Stuart Florida Real Estate for Sale ( Condos)

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Stuart Florida Market Report ZIP Code 34994 – Condo, July 2012

Martin County Florida Condo Market Report for June 2012

07.31.12 by

Martin County Florida Condo Market Report for June 2012

Commentary:

The Martin County Florida Condo Market for June 2012 continues on a positive trend. Sales for June were a strong 62 units, which is the highest number of condo sales for a June in the past few years. Ant this with an inventory of available condos now the lowest since October of 205.  On another positive note, the median sales price rose to $141,250 reflecting some higher to moderate priced condos having sold.  This is the fourth month in a row we’ve had an increase in median prices.

The inventory is now down to 572 condos, down from the 668 condos that were on the market in June of 2011. The one month absorption rate is now at 9.23 months, while the three-month average is down to 8.40 months.  While it remains a somewhat challenging market for condos in Martin County, there are some signs of life as prices across the board have declined significantly. We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.  The June numbers are showing that the condo market is coming back to life and desirable units are in fact selling.

Our outlook for the Martin County condo market is fairly positive.  Buyers can get units at attractive prices and sellers have the ability to sell their units for today’s market value.

Martin County Florida Condo Market Report for June 2012

the Gabe Sanders real estate team

Condo Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, June 2012

07.28.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, June 2012

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for June 2012

For June 2012 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 30 active condo listings. (Down 3 from May)

8 Condo sales are pending and awaiting close or lender approval. Unchanged from May)

  6 Condos sold in June (A decrease of 4 condos from May)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. June showed excellent activity with 6 closed sales and a further decrease in inventory to only 30 available units. pending sales were down slightly.  I don’t expect to see any great movement in this segment of the Treasure Coast Florida condo market with such a small inventory.

Last June’s numbers were 41 active listings, 10 pending sales and 1 closed sales. With the exception of pending sales, much better numbers this year as compared to last.

 

 

Search here for Hobe Sound Florida Real Estate for Sale ( Condos)

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Hobe Sound Florida Real Estate presented by:
Gabe Sanders

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, June 2012

Stuart Florida Market Report ZIP Code 34997 – Condo, June 2012

07.26.12 by

Stuart Florida Market Report ZIP Code 34997 – Condo, June 2012

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for June 2012

For June 2012 in the 34997 Zip Code area of Stuart, Florida :

There are currently 109 active condo listings (A decrease of 1 condo form May).

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

10 Condos Sold in June (A decrease of 4 condos from May).

A slowdown of market activity from last month in the Stuart condo market for the area in ZIP code 34997.  All measured activity was slightly lower from May.  The 34997 zip code area of Stuart still has a troubling number of short sales and foreclosures coming on the market at a slower but steady rate.  This is keeping prices from rising.
Last years numbers were 103 active listings, 27 pending sales and 8 closed sales.  Very little change from last year.  The 34997 area of Stuart condo market seems to be treading water with a roughly 10 month absorption rate for June of 2012.

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Stuart Florida Real Estate presented by:
Gabe Sanders

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for June 2012

Stuart Florida Market Report ZIP Code 34996 – Condo, June 2012

07.25.12 by

Stuart Florida Market Report ZIP Code 34996 – Condo, June 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for June 2012

For June 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 185 active condo listings (Down 3 from last month).

27 Condo sales are pending and awaiting close or lender approval (A decrease of 4 condos from May).

20 Condos Sold in June (Down 6 from May)

The inventory continues to decline in the Stuart condo market for the area in ZIP code 34996. Sales activity slowed from May and pending sales were also down from last month. We are approaching the slower time of the year for seasonal condos and it’s not unusual to see a lower number of pending sales and probably fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.

Compared to last year in June of 2011, the numbers were 203 active listings, 21 pending sales and 30 closed sales.  Last June we had much better closed activity, but our pending sales are higher this year and the inventory is marginally lower.

Search here for Stuart Florida Real Estate for Sale ( Condos)

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Stuart Florida Market Report ZIP Code 34996 – Condo, June 2012

Stuart Florida Market Report ZIP Code 34994 – Condo, June 2012

07.24.12 by

Stuart Florida Market Report ZIP Code 34994 – Condo, June 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for June 2012

For June 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 140 active condo listings (Down by 10 condos from May).

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

12 Condos Sold in June (Decreased by 11 condos from May).

The Stuart Condo market for zip code 34994 showed a marked decrease of closed sales possibly indicating a seasonal slowdown for the summer months.  But pending sales took a small jump, which is encouraging.  Active listings were down by 10, now only 140 active listings.  Lower inventory typically means less supply, which with any return in demand, might indicate price rises in the near future.

Last year in June of 2011 the numbers were: 148 active listings, 44 pending listings and 10 closed sale.  Fairly similar numbers from last year, with slightly better numbers in all categories.

The one month absorption rate for this market is now 12 months.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither a buyers or sellers market.

Search here for Stuart Florida Real Estate for Sale ( Condos)

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Stuart Florida Real Estate presented by:
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Stuart Florida Market Report ZIP Code 34994 – Condo, June 2012

Portofino Condos at Jensen Beach

07.16.12 by

Portofino Condos at Jensen Beach

Portofino Condos at Jensen Beach is 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 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.

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.

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.

 

Jensen Beach Florida Real Estate

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Portofino Condos at Jensen Beach

Martin County Florida Condo Market Report for May 2012

06.30.12 by

Martin County Florida Condo Market Report for May 2012

Commentary:

The Martin County Florida Condo Market for may 2012 continues on a positive trend. Sales for May were a strong 75 units, which equaled the April sales and higher than the past few years. On another positive note, the median sales price rose to $135,000 reflecting some higher to moderate priced condos having sold.  This is the third month we’ve had an increase in median prices.

The inventory declined to 602 condos, down from the 714 condos that were on the market in May of 2011. The one month absorption rate is now at 8.03 months, while the three-month average is down to 8.69 months.  While it remains a somewhat challenging market for condos in Martin County, there are some signs of life as prices across the board have declined significantly. We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.  The May numbers are showing that the condo market is slowly crawling back to life and those units that show ell are in fact selling.  At times for even premium prices by today’s standards.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive. For sellers, it looks like this may be an excellent season coming if there’s no big disruption in the economy.  If you need to sell, you may be better off doing so now than facing the uncertainty of what the future may bring.  Especially if you are paying those condo fees.

Martin County Florida Condo Market Report for May 2012

the Gabe Sanders real estate team

Condo Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, May 2012

06.27.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, May 2012

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for May 2012

For May 2012 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 33 active condo listings. (Down 2 from April)

8 Condo sales are pending and awaiting close or lender approval. (Up 2 from April)

  1 Condos sold in May (A decrease of 4 condos from April)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. May showed slower activity with only 1 closed sale and a further decrease in inventory to only 33 available units. pending sales were up slightly, so there should be some closed sales in the coming months.  I don’t expect to see any great movement in this segment of the Treasure Coast Florida condo market with such a small inventory.

Last May’s numbers were 40 active listings, 8 pending sales and 1 closed sales. Other than a greater number of active listings, almost identical to this year’s numbers.

 

 

Search here for Hobe Sound Florida Real Estate for Sale ( Condos)

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Hobe Sound Florida Real Estate presented by:
Gabe Sanders

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, May 2012

Stuart Florida Market Report ZIP Code 34997 – Condo, May 2012

06.21.12 by

Stuart Florida Market Report ZIP Code 34997 – Condo, May 2012

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for May 2012

For May 2012 in the 34997 Zip Code area of Stuart, Florida :

There are currently 110 active condo listings (A decrease of 5 condos form April).

29 Condo sales are pending and awaiting close or lender approval (Down 5 condos from April).

14 Condos Sold in June (A decrease of 4 condos from April).

A slightly disappointing month for the Stuart condo market for the area in ZIP code 34997.  While inventory decreased to 110 condos both pending and closed sales were also off.  The 34997 zip code area of Stuart contains a fairly good supply of condo communities, but there is definitely a shortage of good inventory which is affecting sales.  The current one-month absorption rate is just under 8 months.  Still a buyer’s market, but close to a balanced market which would be with a 6 to 7-month absorption rate.
Last years numbers were 111 active listings, 30 pending sales and 8 closed sales.  The market is marginally better than May of 2011.  We are now being hampered by lack of inventory.

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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for May 2012

Stuart Florida Market Report ZIP Code 34996 – Condo, May 2012

06.19.12 by

Stuart Florida Market Report ZIP Code 34996 – Condo, May 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for May 2012

For May 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 188 active condo listings (Down 15 from last month).

31 Condo sales are pending and awaiting close or lender approval (A decrease of 21 condos from April).

26 Condos Sold in May (Unchanged from April)

The inventory continues to decline in the Stuart condo market for the area in ZIP code 34996. Sales activity was unchanged from April and pending sales were down significantly from last month. We are approaching the slower time of the year for seasonal condos and it’s not unusual to see a lower number of pending sales and probably fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.

Compared to last year in May of 2011, the numbers were 211 active listings, 38 pending sales and 22 closed sales.  Considering the inventory is approximately 20% lower than last year, the market activity is very similar and thus better when considering the reduced number of available options in the 34996 Condo market in Stuart, Florida.

Search here for Stuart Florida Real Estate for Sale ( Condos)

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Stuart Florida Real Estate presented by:
Gabe Sanders

Stuart Florida Market Report ZIP Code 34996 – Condo, May 2012