Stuart FL 34996 Condo Market Report May 2014

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for May 2014

For May 2014 in the 34996 Zip Code area of Stuart, Florida :

There are currently 145 active condo listings (Up by 3 condos from last month).

  35 Condo sales are pending and awaiting close or lender approval (Decreased by 11 condos from April).

26 Condos Sold in May (Decreased by 15 condos from April) 

Not a very positive month for the Stuart FL 34996 Condo Market Report May 2014 as compared to April.   Both pending and closed sales were off from last month.  However, we still have positive activity and this market has returned to a more sustainable rate from the extremely hot numbers from last month.  Inventory was up slightly.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 – increased to 5.6 months from April’s 3.5 months .   Still a sellers market representing a strong spring for the 34996 condo market of Stuart, FL.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for May 2012 were: 195 active listings, 33 pending sales and 25 closed sales.  When the considerably lower inventory is factored into the market activity, the 2014 numbers are much better than last year’s.

Stuart Florida Condos for Sale and Sold Report 34996 ZIP Code April 2014

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for April 2014

For April 2014 in the 34996 Zip Code area of Stuart, Florida :

There are currently 142 active condo listings (Down by 8 condos from last month).

  46 Condo sales are pending and awaiting close or lender approval (Decreased by 9 condos from March).

41 Condos Sold in April (Increased by 7 condos from March) 

April had excellent closed activity for the Stuart Florida Condos for Sale and Sold Report 34996 ZIP Code April 2014.  Unfortunately pending sales were off a bit, though still strong.  Inventory also declined slightly.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 – decreased to 3.5 months from March’s 4.4 .   An extremely strong sellers market representing a very strong spring for the 34996 condo market of Stuart, FL.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for April 2012 were: 191 active listings, 44 pending sales and 32 closed sales.  Unlike the residential activity, it appears that the condo market is well outperforming last year.

Stuart Florida Condos for Sale and Sold Report 34996 ZIP Code March 2014

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for March 2014

For March 2014 in the 34996 Zip Code area of Stuart, Florida :

There are currently 150 active condo listings (Down by 21 condos from last month).

 55 Condo sales are pending and awaiting close or lender approval (Increased by 3 condos from February).

34 Condos Sold in March (Increased by 4 condos from February) 

 For the Stuart Florida Condos for Sale and Sold Report 34996 ZIP Code March 2014, showed continued good activity.   Pending and closed sales increased, though only slightly.  Troubling is the fact that the inventory took a sizable drop for march, significantly reducing the available choices for prospective buyers.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 – decreased to 4.4 months from February’s 5.7 .  This is now a strong sellers market and prices are in fact rising due to the competition for the relatively few available condos on the market.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for March 2012 were: 189 active listings, 59 pending sales and 44 closed sales.  The percentage of activity is very similar to last year when the reduced inventory is factored into the equation.