Stuart Florida Market Report ZIP Code 34994 – Condo, April 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for April 2013

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

There are currently 118 active condo listings (Decreased by 9 condos from March).

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

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28 Condos Sold in April (Increased by 15 condos from March).

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Mixed signals for the Stuart Condo market for zip code 34994.   Pending sales were off from March while closed sales more than doubled.   The inventory also continued it’s decline.  This low inventory will be responsible for a decreasing market numbers in the coming months.

The one month absorption rate dropped to 4.2 months, which for April is a significant shift into a seller’s 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 April the numbers were 147 active listings, 43 pending sales, and 15 closed sales.  Much better sales activity this year.  This with almost a 50% lower inventory.

Stuart Florida Market Report ZIP Code 34994 – Condo, March 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for March 2013

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

There are currently 127 active condo listings (A drop of 7 condos from February).

57 Condo sales are pending and awaiting close or lender approval. (Up 7 condos from last month)

13 Condos Sold in March (A decrease of 6 condos from February).

A fairly strong month for the Stuart Condo market for zip code 34994.   Pending sales increased from February.  Unfortunately closed sales were off.  And, the inventory continues to shrink.

The one month absorption rate rose to 10.3 months, which still signifies a buyers 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 March the numbers were 143 active listings, 44 pending sales, and 15 closed sales.  When the reduced inventory is considered, this year’s activity is better.