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.
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