Stuart Florida Market Report ZIP Code 34994 Condo, November 2013

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

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

There are currently 118 active condo listings (Decreased by 3 condos from October).

42 Condo sales are pending and awaiting close or lender approval. (Down by 1 condo from last month)
 

20 Condos Sold in November (Increased by 6 condos from October).

A small and welcome increase in activity for the Stuart Condo market for zip code 34994.   Pending sales remained virtually unchanged while we had a nice rise in closed sales to 20 condos.  The inventory which rose the past two months, was once again down.

The one month absorption rate rose to 5.9 months compared to last months 8.6.  A marginal sellers’ market for the 34994 zip code condo market of Stuart FL.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last November the numbers were 153 active listings, 42 pending sales, and 11 closed sales.   Better activity this year than last, especially when considering the greatly reduced number of available condos for sale.

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market:

Stuart Florida Market Report ZIP Code 34994 Condo, October 2013

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

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

There are currently 121 active condo listings (Increased by 2 condos from September).

43 Condo sales are pending and awaiting close or lender approval. (Down by 5 condos from last month)
 

14Condos Sold in October (Decreased by 1 condo from September).

For the summer season in the Stuart Condo market for zip code 34994 both pending and closed sales were down again for October.   The inventory grew for a second month in a row by 2 condos.  Not unexpected results as the condo market in Martin County is very seasonably dependent, though other segments of the Stuart condo market have had better activity.  We are now awaiting the ‘snowbirds’ to return and to see how they feel about buying in our market.

The one month absorption rate rose to 8.6 months compared to last months 7.9.  Back into a more pronounced buyer’s market.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last October the numbers were 143 active listings, 45 pending sales, and 13 closed sales.   When the reduced inventory is accounted for, the real estate market for condos in the 34994 zip code area of Stuart is still out-performing October 2012 activity.

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market: