Stuart Florida Market Report ZIP Code 34994 – Condo, November 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for November 2012

For November, 2012 in the 34994 Zip Code area of Stuart, Florida :

There are currently 153 active condo listings (Up 10 condo from October).

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42 Condo sales are pending and awaiting close or lender approval. (Down 3 condos from last month)

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11 Condos Sold in November (Decreased by 2 condos from October).

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After numerous months of strong results for the Stuart Condo market for zip code 34994 even during our off season, the market has cooled slightly as we approach the holidays.  Sales were off by 2 units and pending sales also were off by 3 condos. while the  available inventory was up by 10 units.  The one month absorption rate is at 14 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 November the numbers were 146 active listings, 35 pending sales, and 10 closed sales.

Stuart Florida Market Report ZIP Code 34994 – Condo, October 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for October 2012

For October, 2012 in the 34994 Zip Code area of Stuart, Florida :

There are currently 143 active condo listings (Up 1 condo from September).

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

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13 Condos Sold in October (Increased by 1 condo from September).

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Continued strong results for the Stuart Condo market for zip code 34994 even during our off season.  Sales were up by 1 unit while pending sales remained unchanged and the available inventory was up by 1 unit.  The one month absorption rate is at 11 months, which still signifies a buyers market.  And, it appears that the buyers are indeed buying, even during the typically slower condo season.  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.

Last October the numbers were 135 active listings, 31 pending sales, and 21 closed sales.