Jensen Beach Florida Market Report ZIP Code 34957 – Condo, October 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, October 2011

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for October 2011

For October 2011 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :
(Due to technical difficulties the September Market Snapshot data was unavailable)

There are currently 60 active listings. (Up 5 from September)

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

1 Condo Sold (A decrease of 7 condos from September)

Very disappointing results for the Jensen Beach condo market report (ZIP Code 34957).  Only 1 closed sale, a decrease in pending activity as well as an increase in supply (active listings).   Typically we are now in the slow season for this segment of the Martin County real estate market.  We may see some more rise in inventory before the activity starts to pick up, typically in the new year.  We think that the secondary vacation market for condos is currently very dependent on consumer confidence and should do well if the economy picks up.

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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, October 2011

Palm City Florida Market Report ZIP Code 34990 – Condo, October 2011

Palm City Florida Market Report ZIP Code 34990 – Condo, October 2011

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for October 2011

For October 2011 in the 34990 Zip Code area of Palm City, Florida :

There are currently 59 active condo listings. (Down 2 from September)

2 Condo sales are pending and awaiting close or lender approval. (Down 2 from last month)

2 Condos Sold in October. (An increase of 1 condo from September)

Unlike the rest of Martin County, the Palm City condo market report (ZIP Code 34990) had a decrease in inventory from last month.  Unfortunately, pending sales are very slow as well as closed or completed sales.  The Palm City condo market is slightly different from the rest of the county as the mix tends to favor more year-round residents and is less prone to the seasonal inventory increase we typically experience during the holiday season.

As long as the inventory doesn’t increase appreciably this should be a good winter for Palm City condo sales, though prices will not see an increase as of yet due to competition from the neighboring areas as well as the number of distressed sales on the market. Should the inventory increase, pricing pressure may lead to some continued decreases.

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Palm City Florida Real Estate presented by:
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Palm City Florida Market Report ZIP Code 34990 – Condo, October 2011

Stuart Florida Market Report ZIP Code 34996 – Condo, October 2011

Stuart Florida Market Report ZIP Code 34996 – Condo, October 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for October 2011

For October 2011 in the 34996 Zip Code area of Stuart, Florida :

There are currently 213 active condo listings (Up 25 from last month).

24 Condo sales are pending and awaiting close or lender approval (A decrease of 3 from September).

17 Condos Sold in October (A decrease of 1 condo from September)

The Stuart condo market for the area in ZIP code 34996 had a fairly significant increase in inventory in October.  This with small decreases in closed and pending sales.  Typical seasonal slowdown as we get into the holiday months.  The large increase in inventory is troubling for sellers as this may have significant downward pressure on prices for the coming winter season if this trend continues.

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Stuart Florida Market Report ZIP Code 34996 – Condo, October 2011

Stuart Florida Market Report ZIP Code 34997 – Condo, October 2011

Stuart Florida Market Report ZIP Code 34997 – Condo, October 2011

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for October 2011

For October 2011 in the 34997 Zip Code area of Stuart, Florida :

There are currently 120 active condo listings (An increase of 8 units from September).

13 Condo sales are pending and awaiting close or lender approval (Down 3 from September).

10 Condos Sold in June (Up 6 from September).

The Stuart condo market for the area in ZIP code 34997 had a very weak September, so an increase in closed sales was welcome in October.  Unfortunately along with the increase in closed sales, there has also been an increase in inventory (also true for all other areas in Martin County) as we head into the holiday season.  Typically we see a fairly slow couple of months with activity starting to pick back up in January. 

Sellers should hope that the inventory doesn’t pick up by too much as this will have a negative influence on sales prices.

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Stuart Florida Real Estate presented by:
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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for October 2011

Martin County Florida Condo Market Report for October 2011

Martin County Florida Condo Market Report for October 2011

Commentary:

The Martin County Florida condo market report for October 2011 showed surprisingly high activity from both last month as well as last year.  Sales were up by 40% from last year and 20% from September.  The only negative is the vast majority of these sales were for lower-priced units throughout Martin County.  The inventory was down by close to 20% from last year, but up slightly from last month.  Many condo sellers feel that the holiday season starts the great migration of buyers from the north and is a better time to market their property.  (Not necessarily so, as evidenced by last month’s sales numbers.)

The big uncertainty remains, which is the economy.  We believe that if we have any sustained good news, we will see a pretty good rush on the market which will be a nice change from the present.  For the longer term, even though we have the best mortgage rates in history at the moment, inflation is making news and this is not good for rates down the line.  The Fed. is working hard to keep rates down, but for how long, we’re just not too sure.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive.  For sellers, it doesn’t look like we’re going to see any significant improvements soon, so if you need to sell, you may be better off now than possibly in the near future.

Click on the individual charts to see charts in expanded mode.

Condo Market Report for October 2011 in Martin County, Florida

the Gabe Sanders real estate team

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

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Stuart Florida Market Report ZIP Code 34994 – Condo, October 2011

Stuart Florida Market Report ZIP Code 34994 – Condo, October 2011

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for October 2011

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

There are currently 135 active condo listings (Up 3 from September).

31 Condo sales are pending and awaiting close or lender approval. (Down 14 from last month)

21 Condos Sold in October (Up 3 units from September).

The Stuart condo market for the area in ZIP code 34994 had slow October activity as the seasonal condo market does not begin till after the upcoming holidays.  Sales were up by 3 units, but pending sales were off considerably and a small rise in existing inventory.  Typically, inventory should rise as many sellers will try to time the market for the coming season.  Unfortunately, this will continue to exert price pressure on existing sales as the law of supply and demand states that an increase in inventory will dilute demand and put pressure on prices to drop further. 

Should we have some positive economic news, we may see a strong winter season for sales, it will be interesting to see what happens!

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Stuart Florida Market Report ZIP Code 34994 – Condo, October 2011

New Price – Oceanfront Condo on Hutchinson Island

New Price – Oceanfront Condo on Hutchinson Island

Suntide in Stuart, Florida, Now $197,000

It’s more than just a condo, it’s a lifestyle

Suntide Condominium

Fully furnished with an updated kitchen, ocean front condo in Martin County’s prime Hutchinson Island location and building. Spacious 2 bedroom split plan with everything one needs for a full-time home or that special Florida tropical retreat. Suntide includes private beach access, heated pool, tennis courts, shuffleboard, wash area, newly renovated clubhouse with billiards, card table, fully equipped kitchen, bar, library and entertaining area as well as a professional fitness center. Under building secured parking. This well-appointed condo is ready for immediate occupancy.

New Price – Oceanfront Condo on Hutchinson Island

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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, September 2011

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, September 2011

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for September 2011

For September 2011 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 38 active condo listings. (Down 4 from last August)

6 Condo sales are pending and awaiting close or lender approval. (Unchanged from August)

    The Hobe Sound condo market is very small as compared to the condo market for the remainder of Martin County.  There were no sales of condos in September of 2011.  The inventory continued to decline and only 6 condos are presently under contract.

    With the low inventory, this is one of the best seasons in quite some time for those that have a desire to sell their Hobe Sound condo.  While prices aren’t going up, the lack of inventory might just result in a very good sale for today’s market conditions.
 

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Hobe Sound Florida Real Estate presented by:
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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, September 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, September 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, September 2011

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for September 2011

For September 2011 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :
(Due to technical difficulties the August Market Snapshot data was unavailable)

There are currently 55 active listings. (Up 4 from August)

10 Condo sales are pending and awaiting close or lender approval. (Down 5 from August)

8 Condos Sold (An increase of 3 condos from August)

The Jensen Beach condo market report (ZIP Code 34957) showed a slow month for September 2011 with only sales showing a positive result with an increase of 3 since August.  Pending sales are off as well as a rising inventory.

As long as the inventory doesn’t increase appreciably this should be a good winter for Jensen Beach condo sales, though prices probably will not increase yet.  Should the inventory continue to increase, pressure will be on prices and may show some more decreases in the future.

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Jensen Beach Florida Real Estate presented by:
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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, September 2011

Palm City Florida Market Report ZIP Code 34990 Condo, September 2011

Palm City Florida Market Report ZIP Code 34990 – Condo, September 2011

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for September 2011

For September 2011 in the 34990 Zip Code area of Palm City, Florida :

There are currently 61 active condo listings. (Up 9 from August)

4 Condo sales are pending and awaiting close or lender approval. (Down 1 from last August)

1 Condo Sold in September. (A decrease of 3 condos from August)

The Palm City condo market report (ZIP Code 34990) showed a slow month for September 2011 as sales, as well as pending sales, were all off for the month.  In addition, the inventory rose for the first time this year.  Hopefully, this is just a seasonal result as this is the slow time on the Treasure Coast for condo sales.

As long as the inventory doesn’t increase appreciably this should be a good winter for Palm City condo sales, though prices probably will not increase yet.  Should the inventory continue to increase, pressure will be on prices and may show some more decreases in the future.

Palm City, FL Real Estate

Rental Properties

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Palm City Florida Market Report ZIP Code 34990 – Condo, September 2011

Stuart Florida Market Report ZIP Code 34997 – Condo, September 2011

 Stuart Florida Market Report ZIP Code 34997 – Condo, September 2011

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for September 2011

For September 2011 in the 34997 Zip Code area of Stuart, Florida :

There are currently 112 active condo listings (An increase of 5 units from August).

16 Condo sales are pending and awaiting close or lender approval (Unchanged from August).

4 Condos Sold in June (Down 5 from August).

The Stuart condo market for the area in ZIP code 34997 showed the weakest results for September in the three areas of Stuart that we watch.  An increase in inventory along with a decrease in sales.  This is the off-season for condos so this is hopefully just the season and not a bad trend beginning.  

The increase in inventory may also be attributable to some sellers trying to time the market as well as a reaction from recent relatively good sales for the past spring and summer seasons.  Most efforts to time the market, especially when made in relatively large numbers become self-defeating as in this trying market, this increase in inventory may just drive the market a bit lower.

However, for buyers, especially for those who can obtain financing, there hasn’t been a more attractive real estate market in decades.  There are some savvy buyers getting excellent deals for homes at prices equivalent to 10 or 11 years ago.

This will be an interesting season to watch!

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Stuart Florida Real Estate presented by:
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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for September 2011

Stuart Florida Market Report ZIP Code 34996 – Condo, September 2011

Stuart Florida Market Report ZIP Code 34996 – Condo, September 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for September 2011

For September 2011 in the 34996 Zip Code area of Stuart, Florida :

There are currently 188 active condo listings (down 4 from last month).

27 Condo sales are pending and awaiting close or lender approval (A decrease of 2 from August).

18 Condos Sold in September (An increase of 6 condos from August)

The Stuart condo market for the area in ZIP code 34996 showed a continued decrease in inventory which is a positive sign.  A fairly strong increase of 6 sales as well as a small increase in pending sales. Sales were mixed both in the higher as well as lower price ranges.  Many buyers feel the bottom of the market is close or possibly already past and are taking advantage of some very good values.

With the height of the season to come, it will be interesting to see what happens!

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

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Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

Stuart Florida Market Report ZIP Code 34996 – Condo, September 2011

Stuart Florida Market Report ZIP Code 34994 – Condo, September 2011

Stuart Florida Market Report ZIP Code 34994 – Condo, September 2011

Stuart Real Estate Snapshot for ZIP Code 3499, Condo Sales for September 2011

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

There are currently 132 active condo listings (Down 4 from August).

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

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

The Stuart condo market for the area in ZIP code 34994 showed a surprisingly strong September 2011 market activity.  All indexes moved in the right direction with lower inventory, higher pendings and sales.  This, even though, typically September is one of the slower months for condo sales in our area.

Sales were mixed both in the higher as well as lower price ranges.  Many buyers feel the bottom of the market is close or possibly already past and are taking advantage of some very good values.

With the height of the season to come, it will be interesting to see what happens!

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

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Stuart Florida Real Estate presented by:
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Stuart Florida Market Report ZIP Code 34994 – Condo, September 2011

Martin County Florida Condo Market Report for September 2011

Martin County Florida Condo Market Report for September 2011

Commentary:

The Martin County Florida condo market report for September 2011 shows generally negative results from last month as well as last year.  About the only good news was a slightly higher median sales price from September 2010.  Unfortunately, we’ve seen the inventory climb (although by relatively modest numbers).  It’s too early to tell if this is a new trend or just a seasonal fluctuation which often happens as sellers try to take advantage of a more active winter season in Martin County.

With the increased inventory and the reduced sales, our current one-month absorption rate is now over 15 months, swinging back into a pretty strong buyers market.  This will result in more downward pressure on sales prices and I don’t expect any improvement any time in the near future for those wishing to sell their home.

The big uncertainty remains, which is the economy.  We believe that if we have any sustained good news, we will see a pretty good rush on the market which will be a nice change from the present.  For the longer term, even though we have the best mortgage rates in history at the moment, inflation is making news and this is not good for rates down the line.  The Fed. is working hard to keep rates down, but for how long, we’re just not too sure.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive.  For sellers, it doesn’t look like we’re going to see any significant improvements soon, so if you need to sell, you may be better off now than possibly in the near future.

Condo Market Report for September 2011 in Martin County, Florida

the Gabe Sanders real estate team

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

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Another Pierpoint Yacht Club Condo in Stuart Florida – Sold

Another Pierpoint Yacht Club Condo in Stuart Florida – Sold

 Building A Suite 113

Located in the heart of Stuart and on the shores of the wide Saint Lucie River, the Pierpoint Yacht Club Condominiums is the premier adult community in Stuart, Florida. An extremely well-maintained complex of 8 buildings, some of which have magnificent water views.

Pierpoint has docks with boat slips for rent as available. Also on this dock is a fishing station and benches for all Pierpoint residents to enjoy and use. Stuart enjoys some of the finest fishing conditions in all of Florida and the east coast.

On the shores of the Saint Lucie River, Pierpoint has a large and active clubhouse with a full kitchen available for members and special occasions. Adjacent to the clubhouse is one of two heated pools, a billiard room, a reading library and shuffleboard courts. There’s an outdoor lounge for sipping cocktails right on the shores of the wide Saint Lucie River. Lots of green space and ample parking complement this wonderful community.

Search for all Pierpoint Yacht Club Condos for Sale in Stuart Florida Real Estate
Another Pierpoint Yacht Club Condo in Stuart Florida – Sold

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Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Condo Sales for August 2011

Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Condo Sales for August 2011

For August 2011 in the 33455 Zip Code area of Hobe Sound, Florida :
(Due to technical difficulties the July Market Snapshot data was unavailable)

There are currently 42 active condo listings. (Up 1 from last June)

6 Condo sales are pending and awaiting close or lender approval. (Down 4 from June)

There were 3 sales. (Up 2 units from June)

The condo market for zip code 33455 in Hobe Sound is a fairly small market segment and showed minimal changes this summer. This is actually fairly positive news as we typically see less activity for the summer and early fall months in the more seasonal-driven condo segment of the Martin County real estate market. As long as we don’t have a flood of seasonal listings come on the market this fall, this should bode well for sales this coming season (assuming we don’t have continued terrible economic news as well).

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

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Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Condo Sales for August 2011

Hobe Sound Florida Real Estate presented by:
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Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34957, Condo Sales for August 2011

Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34957, Condo Sales for August 2011

For August 2011 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :
(Due to technical difficulties the July Market Snapshot data was unavailable)

There are currently 51 active listings. (Down 10 from June)

15 Condo sales are pending and awaiting close or lender approval. (Down 2 from June)

5 Condos Sold (Unchanged from June)

The condo market for zip code 34957 in Jensen Beach saw no change in the number of closed units for August.  This is somewhat better than expected as the condo market tends to be more seasonal in nature and typically slows down until the beginning of the Florida vacation season, which is normally around and after the holidays.  The inventory further decreased which is a good sign as there is less supply of available units. Unfortunately, there is the possibility of an increase in seasonal listings coming on the market this fall, which could further dilute prices for sales this coming season.

Search here for Jensen Beach Real Estate for Sale

Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for August 2011

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Jensen Beach Florida Real Estate presented by:
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Market Report: Palm City Florida Real Estate Snapshot for Zip Code 34990, Condo Sales for August 2011

Market Report: Palm City Florida Real Estate Snapshot for Zip Code 34990, Condo Sales for August 2011

For August 2011 in the 34990 Zip Code area of Palm City, Florida :
(Due to technical difficulties the July Market Snapshot data was unavailable)

There are currently 52 active condo listings. (Down 4 from June)

5 Condo sales are pending and awaiting close or lender approval. (Down 2 from last June)

4 Condos Sold in August. (An increase of 1 condo from June)

The condo market for zip code 34990 in Palm City showed small positive results for the month of August. This is unexpected as the condo market tends to be more seasonal in nature and typically slows down until the beginning of the Florida vacation season, which is usually around and after the holidays.  As long as we don’t have a flood of seasonal listings come on the market this fall, this should bode well for sales this coming season (assuming we don’t have continued terrible economic news as well).

Search here for Palm City Florida Real Estate for Sale ( Condos)

Market Report: Palm City Florida Real Estate Snapshot for Zip Code 34990, Condo Sales for August 2011

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Palm City Florida Real Estate presented by:
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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for August 2011

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for August 2011

For August 2011 in the 34997 Zip Code area of Stuart, Florida :
(Due to technical difficulties the July Market Snapshot data was unavailable)

There are currently 107 active condo listings (An increase of 8 units from June).

16 Condo sales are pending and awaiting close or lender approval (Down 11 from June).

9 Condos Sold in June (Up 1 from June).

The condo market for zip code 34997 in Stuart saw a small decrease in closed units for August.  This is somewhat expected as the condo market tends to be more seasonal in nature and typically slows down until the beginning of the Florida vacation season, which is normally around and after the holidays.  Bucking the trend for the rest of the Stuart area, inventory went up by 8 units. A greater supply of inventory creates increased pressure for lower prices in the market.  There’s also the possibility of an increase in seasonal listings coming on the market this fall, which could further dilute prices for sales this coming season.

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for August 2011

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Stuart Florida Real Estate presented by:
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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34996, Condo Sales for August 2011

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34996, Condo Sales for August 2011

For August 2011 in the 34996 Zip Code area of Stuart, Florida :
(Due to technical difficulties the July Market Snapshot data was unavailable)

There are currently 192 active condo listings (down 15 from last June).

29 Condo sales are pending and awaiting close or lender approval (An increase of 8 from June).

12 Condos Sold in August (Down 18 units from June)

The condo market for zip code 34996 in Stuart saw a marked decrease in closed units for August.  This is expected as the condo market tends to be more seasonal and typically slows down until the beginning of the Florida vacation season, which is usually around and after the holidays.  The good news is that the inventory has continued to decline, which makes the selection of condos more restricted and typically influences increased demand.  As long as we don’t have a flood of seasonal listings come on the market this fall, this should bode well for sales this coming season (assuming we don’t have continued terrible economic news as well).

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

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34996, Condo Sales for August 2011

Stuart Florida Real Estate presented by:
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