Palm City FL 34990 Residential Market Report August 2018

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for August 2018

For August 2018 in the 34990 Zip Code area of Palm City Florida :

There are currently 361 active listings (Increased by 26 homes from July)

100 Residential sales are pending and awaiting close or lender approval. (Down by 42 homes from last month)

97 Homes Sold in July (Up by 21 homes from July)

The Palm City FL, zip code 34990 residential real estate market had mixed results for August. There was a welcome increase in inventory and closed sales. Unfortunately, a big decrease in pending sales.

The monthly absorption rate dipped to 3.7 months from 4.4 months in July. Remaining in a seller’s market for the Palm City zip code 34990 area for residential sales. A 6 to 7-month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The August 2017 numbers were: 346 active listings, 128 pending sales, and 95 closed sales. Similar closed activity this year when compared to last year. The pending numbers are down for this year though.

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Palm City FL 34990 Residential Market Report August 2018

Bay Pointe Palm City September 2018 Market Report

09.25.18 by Gabe Sanders

Bay Pointe Palm City September 2018 Market Report

There are three homes currently for sale in Bay Pointe in Palm City FL. These homes are listed for sale from $950,000 up to $2,185,000 for an average list price of $1,520,833 which equals $332.23 per sq. ft. of living space.

There are no homes currently under contract in Bay Pointe.

In the past 12 months, three homes have sold in Bay Pointe in Palm City FL. These homes had sales prices from $449,000 up to $1,575,000. This equals an average sales price of $936,333 which equals $267.53 per sq. ft. of living space. These homes were on the market for an average of 66 days before going under contract and sold for an average of 95% of the list price.

About Bay Pointe in Palm City, Florida:

Bay Pointe Waterfront Homes in Palm City, Florida

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Located next to Seagate Harbor and Lighthouse Pointe is the exclusive subdivision of Bay Pointe in Palm City Florida. This exclusive gated waterfront subdivision boasts 23 homes and lots on the wide waters of the Saint Lucie River. An additional 11 non-waterfront homes and homesites enjoy the amenities of this private community. Even the non-waterfront homes have access to docks with a community pier located on the south side of the community.

Bay Pointe Waterfront Homes in Palm City, Florida

The current HOA fees vary from $910 up to $1,350 a month depending on whether the owner chooses to have the HOA do the landscaping for the yard (current as of September 2018).

Bay Pointe waterfront in Palm City FL
Located with a large private preserve area to the south and west and enjoying magnificent wide water views to the east. Only minutes to the wide Atlantic Ocean by boat and enjoying the amenities and low taxes of Martin County make Bay Pointe a wonderful place to call home.

Bay Pointe waterfront in Palm City FL
Close to parks, beaches, shopping and boasting the ‘A’ rated school system of Martin County. Current school assignments for Bay Pointe are the Bessey Creek Elementary School, Hidden Oaks Middle School and Martin County High School.

Bay Pointe waterfront in Palm City FL

The Gabe Sanders real estate team has some excellent buyer and seller rebate programs available for a limited time for those interested in buying or selling in Bay Pointe. (Available until 12/2018) Please call for details.

Bay Pointe waterfront in Palm City FL

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Bay Pointe Palm City September 2018 Market Report

Stuart FL 34997 Condo Market Report August 2018

09.24.18 by Gabe Sanders

Stuart FL 34997 Condo Market Report August 2018

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for August 2018

For August 2018 in the 34997 Zip Code area of Stuart, Florida:

There are currently 36 active condo listings (Down by 8 condos from July).

Stuart FL 34997 Condo Market Report August 2018

25 Condo sales are pending and awaiting close (Up by 4 condos from July).

Stuart FL 34997 Condo Market Report August 2018

12 Condos Sold in August (Decreased by 5 condos from July).

Stuart FL 34997 Condo Market Report August 2018

The Stuart FL condo market for zip code 34997 is still a very strong market, but the inventory of available condos has now shrunk to unprecedented low levels. Surprisingly, both pending and closed sales remain quite strong considering the low inventory.

The absorption rate rose to 3.0 months in August compared to 2.6 months for July. Remaining as a strong seller’s market for the 34997 zip code of Stuart FL. A 6 to 7-month absorption rate is typically considered to be a balanced market that favors neither the buyer nor the seller.

The August 2017 numbers were: 44 active listings, 23 pending sales, and 17 closed sales. Better sales activity last year but with greater inventory.

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Stuart FL 34997 Condo Market Report August 2018

The River Club September 2018 Market Report

09.24.18 by Gabe Sanders

The River Club September 2018 Market Report

As of September 2018, there are two condos for sale in the River Club. These condos are listed for $174,900 and $225,000. This is an average list price of $199,500 or $186.52 per sq. ft. of living area.

There are no River Club condos currently under contract.

In the past 12 months, 7 condos have sold in the River Club. Sales prices ranged from $160,000 up to $245,000. This is an average sales price of $195,000 which works out to $176.49 per sq. ft. of living area. These condos sold for an average of 97% of the last list price and went under contract in an average of 89 days.

About The River Club of Martin County:

The River Club of Martin County in Jensen Beach FL

The River Club of Martin County is a waterfront condo community that was built between the years of 1978 and 1980. There are 15 buildings with 188 total condos all of which are 2 bedroom and 2 bathrooms. These are all two-story buildings. There are two different floor plans with 1,220 and 1,072 sq. ft., of living areas. Four of these buildings enjoy beautiful wide waterfront views of the Saint Lucie River. The River Club has a 50 slip marina that is run by a separate dock association. In order to own a slip in the River Club, one must be a condo owner. Tenants and owners do have the opportunity to rent slips should they be available for lease.

Entrance to the River Club

Great amenities include a clubhouse with game room and kitchen facilities, a community pool, fitness room, shuffleboard courts, workshop, and cable TV and internet access (including wi-fi) included in the condo fees. The condo fees as of May 2018 are $326 a month.

Sunset from the River Club

All ages are welcome in the River Club but no pets are allowed. Rentals are allowed with some restrictions as to duration and length of unit ownership. No commercial vehicles or motorcycles are allowed, but pickup trucks with covers are permitted.

Community Pool of the River Club

The River Club is a great choice for those looking for an affordable condo community with deep water docks and fishing as well as a full complement of amenities.

fountain of the the River Club

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The River Club September 2018 Market Report

Banyan House Condos Stuart FL September 2018 Market Report

09.22.18 by Gabe Sanders

Banyan House Condos Stuart FL September 2018 Market Report

There are currently 2 condos for sale in the Banyan House condos in Stuart FL. These two condos are listed for $189,000 and $198,500. This is an average list price of $193,750 which is $141.43 per sq. ft. of living area.

There is one condo with a pending contract. The list price was $208,000 or $151.82 per sq. ft. of living area. This condo was on the market for 69 days prior to going under contract.

In the past 12 months, only 1 condo has sold in the Banyan House. The sales price was $121,000 which equals $88.32 per sq. ft. of living area. This condo was on the market for 4 days before going under contract and it sold for 101% above list price.

About the Banyan House Condos in Stuart FL:

Located on Saint Lucie Blvd in Stuart, FL, these condos are close to the Martin County Community Golf Club as well as the beaches and downtown Stuart. This complex was completed in 1980 and consists of 64 2 bedroom, 2 bathroom condos on either the first or second floor of these 4 identical 2 story buildings.

The Banyan House complex residents enjoy a heated pool and 2 tennis courts and a clubhouse as their amenities. All ages are welcome and up to 1 medium sized pet is also allowed. Rentals are also allowed with some restrictions. For 2018, the association fees are $427 per month. These fees include basic cable TV, landscape service, building insurance and maintenance, water and sewer, trash pickup, reserves and management services.

Children living in Banyan House currently attend the JD Parker elementary school, Stuart middle school and the Jensen Beach high school.

These Banyan House condos are much sought after because of their excellent location as well as being such a well-run and well-managed community. Condos tend to sell very quickly when they come on the market. Those interested in a Banyan House condo should contact us and be set up on a new listing notifier for this Stuart community.

Search here for any current listings in the Banyan House Condo Complex.

Banyan House Condos Stuart FL September 2018 Market Report

Stuart FL 34997 Residential Market Report August 2018

09.21.18 by Gabe Sanders

Stuart FL 34997 Residential Market Report August 2018

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for August 2018

For August 2018 in the 34997 Zip Code area of Stuart, Florida:

There are currently 262 active listings (Increased by 4 homes from July).

137 Residential sales are pending and awaiting close or lender approval (Decreased by 27 homes from July).

88 Homes Sold in August (Increased by 8 homes from July)

The Stuart Florida Residential Market for ZIP Code 34997 remains very active with strong sales. Pending sales were off significantly this month. This may result in some lower closed sales volume in the coming months. The inventory remained relatively steady for this month after numerous months of decreases in the number of available homes for sale.

The absorption rate dropped slightly to 3.0 months (was 3.2 months for July). Remaining as a very strong seller’s market for the 34997 zip code area of Stuart for August 2018. Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7-month absorption rate.

The 2017 numbers for August, were: 291 active listings, 141 pending listings, and 86 closed sales. Other than significantly lower inventory the closed and pending sales volume is quite similar to last year.

Stuart FL 34997 Residential Market Report August 2018

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Stuart FL 34997 Residential Market Report August 2018

Stuart FL 34996 Condo Market Report August 2018

09.20.18 by Gabe Sanders

Stuart FL 34996 Condo Market Report August 2018

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for August 2018

For August 2018 in the 34996 Zip Code area of Stuart, Florida :

There are currently 102 active condo listings (Down by 4 condos from last month).

37 Condo sales are pending and awaiting close or lender approval (Up by 12 condos from July).

16 Condos Sold in August (Down by 10 condos from July)

The Stuart FL 34996 Condo Market of Stuart weakened somewhat for August. Sales were down significantly. There was an increase in pending sales which will hopefully mean an increase in closed sales in the near future.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 rose to 6.4 months from July’s 4.1 months. Into a balanced market for this segment of Martin County condos. A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for August 2017 were: 107 active listings, 39 pending sales, and 28 closed sales. Considerably stronger activity last year when compared to this August.

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Stuart FL 34996 Condo Market Report August 2018

Galleon Bay September 2018 Market Report

09.20.18 by Gabe Sanders

Galleon Bay September 2018 Market Report

There is one home currently for sale in the Galleon Bay community of Hutchinson Island in Stuart FL. The list price is $6,400,000 or $604.63 per sq. ft. of living area.

There are no homes under contract in the Galleon Bay community.

In the past 12 months, no homes have sold. The last sale took place in July 2016 with a sales price of $1,965,000 which equaled $365.65 per sq. ft. of living area. This home was on the market for 238 days before going under contract and sold for 87% of the last list price. There are two new homes under construction at the present time.

About Galleon Bay on Hutchinson Island:

Galleon Bay on Hutchinson Island is an exclusive gated oceanfront community just north of the Stuart Causeway. Very well located close to shopping as well as easy access to downtown Stuart. There are only 15 possible residences in this exclusive upscale community.

All the home sites in Galleon Bay are spacious and allow for stunning estate homes. Lot sizes vary from just under 1 acre to over 1 and ¼ acres. There are still vacant lots in Galleon Bay waiting for a home to be built.

Of the current homes in Galleon Bay, the smallest is over 5,000 sq. ft. of living area with 4 bedrooms and 5 bathrooms and the largest has more than 10,000 sq. ft. with 6 bedrooms and 9 bathrooms.

For those wanting to ultimate in privacy and luxury, yet still be close to all the wonderful amenities available to Martin County residents on the Treasure Coast of FL, Galleon Bay may be the perfect location for you.

As of February 2018 the monthly HOA fees were $458.00

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Galleon Bay September 2018 Market Report

Stuart FL 34996 Residential Market Report August 2018

09.19.18 by Gabe Sanders

Stuart FL 34996 Residential Market Report August 2018

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for August 2018

For August 2018 in the Stuart Florida Market Report ZIP Code 34996 Florida :

There are currently 130 active listings (ncreased by 2 homes from July).

21 Residential sales are pending and awaiting close (Unchanged from July).

10 Homes Sold in August (Down by 15 homes from July).

The 34996 zip code area of the Stuart Florida seems to have hit a road bump for August. Closed sales were off by a significant amount while the other metrics were mostly unchanged.

The one-month absorption rate for the 34996 zip code area of Stuart Florida for August shot up to 13 months as compared to July’s 5.1 months. Into a strong buyer’s market for the 34996 zip code area of Stuart FL but drifting towards a balanced market. A balanced market, favoring neither buyer or seller is considered to be around a 6 to 7 month absorption rate.

The numbers for August 2017 were: 145 active listings, 14 pending sales, and 12 closed sales. Even with a large drop in closed sales, activity is better this year.

Stuart FL 34996 Residential Market Report August 2018

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Search here for real estate in the 34996 Zip Code of Stuart FL

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Stuart FL 34996 Residential Market Report August 2018

Stuart FL 34994 Condo Market Report August 2018

09.18.18 by Gabe Sanders

Stuart FL 34994 Condo Market Report August 2018

Stuart FL Real Estate Snapshot for ZIP Code 34994, Condo Sales for August 2018

For August 2018 in the 34994 Zip Code area of Stuart, Florida :

There are currently 77 active condo listings (Down by 7 condos from July).

60 Condo sales are pending and awaiting close or lender approval. (Increased by 3 condos from last month)

16 Condos Sold in August (Unchanged from July).

The Stuart FL 34994 Condo market remains a strong market with a strong number of pending sales. This should result in some strong sales in the coming months.

The absorption rate for August dipped to 4.8 months compared to last month’s 5.3. Remaining in a seller’s market for this condo segment of Stuart’s 34994 zip code area but drifting towards a balanced one. 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 August the numbers were 70 active listings, 30 pending sales, and 21 closed sales. Pending sales remain much stronger than last year while the closed sales were lower.

Are you interested in the value of your Stuart FL Condo?
Click on this link and fill out the form for an accurate personal evaluation

Stuart, FL Real Estate

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