Stuart FL 34994 Condo Market Report November 2014

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for November 2014

For November, 2013 in the 34994 Zip Code area of Stuart, Florida :

There are currently 90 active condo listings (Down by 4 condos from October).

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

18 Condos Sold in November (Up by 2 condos from October).

The Stuart FL 34994 Condo market continues to show strong activity.  Inventory remains low, though I would expect to see a rise in active listings as we enter the condo season in Florida.  Closed sales were up slightly, unfortunately pending sales were off, though still strong.

The one month absorption rate decreased to 5 months compared to last month’s 5.9.  A sellers market.  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 November the numbers were 118 active listings, 42 pending sales, and 20 closed sales.  Slightly stronger activity this year when the reduced inventory is factored into the percentages.

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Stuart FL 34994 Condo Market Report October 2014

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for October 2014

For October, 2013 in the 34994 Zip Code area of Stuart, Florida :

There are currently 94 active condo listings (Down by 1 condos from September).

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

16 Condos Sold in October (Down by 4 condos from September).

The Stuart FL 34994 Condo market eased a bit for October, though still having strong activity.  Both pending and closed sales were down from last month, with the inventory basically unchanged.

The one month absorption rate remained basically unchanged at 5.9  months compared to last month’s 4.75.  Still a slight sellers market.  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 October the numbers were 121 active listings, 43 pending sales, and 14 closed sales.  Our inventory is significantly lower from last year, yet sales continue to be better.  Pending sales are lower.

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