Stuart Florida Market Report ZIP Code 34996 – Residential, May 2012

06.18.12 by

Stuart Florida Market Report ZIP Code 34996 – Residential, May 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for May 2012

For May 2011 in the 34996 Zip Code area of Stuart, Florida :

There are currently 173 active listings (An increase of 8 homes from April).

33 Residential sales are pending and awaiting close or lender approval (Down 14 from April).

34 Homes Sold in May (Up 26 from April).

The 34996 zip code area of Stuart Florida had an excellent May in terms of closed sales. Pending sales, however, declined and will probably be a predictor of some easing in closed sales for the summer months ahead.  The inventory rose slightly from last month, making a few additional homes available for buyers.

Comparing the numbers to May of 2011, there were 183 active listings, 31 pending sales and 8 closed sales. With the exception of a much better sales activity for may of 2012, the remaining market activity is fairly similar to last May.

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Stuart Florida Market Report ZIP Code 34996 – Residential, May 2012

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

06.17.12 by

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

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

For May 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 150 active condo listings (Up by 3 condos from April).

37 Condo sales are pending and awaiting close or lender approval. (Down 6 from last month)

23 Condos Sold in May (Increased by 8 condos from April).

The Stuart Condo market for zip code 34994 showed an increase of closed sales, reflecting the winter and spring contracts that were written and went into pending status.  As the summer approaches, the inventory has taken another small rise and pending sales also decreased slightly as we typically go into a slower market for condos during the summer and fall months.  It should be noted that the 34994 zip code area of Stuart has a fairly low number of condo developments compared to other zip codes in Martin County and Stuart.

In May of 2011 the numbers were: 154 active listings, 36 pending listings and 13 closed sale.  Better closed sales numbers and pending sales along with a lower inventory.  We are still doing considerably better than last year with an improved real estate market in almost all Martin County residential real estate segments.

The one month absorption rate for this market is now 6.5 months.  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.

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

Stuart Florida Market Report ZIP Code 34994 – Residential, May 2012

06.16.12 by

Stuart Florida Market Report ZIP Code 34994 – Residential, May 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for May 2012

For May, 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 74 active listings (Down 5 from April).

42 Residential sales are pending and awaiting close or lender approval (Up 2 from April).

6 Homes Sold in May (Up 1 home from April)

The 34994 ZIP code area of the Stuart, Florida real estate market continues to show some positive market activity.  Sales were up, pending sales also increased and the inventory continued to decline.  With only 74 available homes for sale in this zip code are of Stuart, finding quality well priced homes is becoming difficult for buyers.  Those homes that are attractively priced and in quality condition are in fact moving quickly

Last May at this time, there were 89 active listings, 31 pending sales and 9 closed sales.  This May, the activity has decreased slightly from last year.  Some of this can be attributed to the lower inventory this year.

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Stuart Florida Market Report ZIP Code 34994 – Residential, May 2012

Sewalls Point Residential Market Report for May 2012

06.15.12 by

Sewalls Point Residential Market Report for May 2012

Sewalls Point Real Estate Snapshot, Residential Sales for May 2012

There are currently 66 active listings (an increase of 3 homes for sale from April)

18 Residential sales are pending and awaiting close or lender approval (A decrease of 1 from April)

6 Homes sold in April (Up 4 from April)

For the  Sewalls Point market report residential, May 2012, we finally saw some signs of life.  Sales increased in May to 6 homes, of which two were over the million dollar mark and another very close.  The inventory remains fairly high and pending sales were basically unchanged from last month.

Comparing the results to May of 2011, the inventory is basically unchanged as there were 58 homes on the market last year, pending sales were 10, and 4 homes sold.  While we have better activity this year, the fairly high number of active listings will make it difficult for sellers and the opportunity is certainly available for buyers who may want to live in Sewalls Point.

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Sewalls Point Residential Market Report for May 2012

Martin County Florida Condo Market Report for April 2012

05.31.12 by

Martin County Florida Condo Market Report for April 2012

Commentary:

For April, the Martin County Florida Condo Market finally showed some life with better results than we’ve had all year.  Sales for April were a strong 75 units, 11 units more than March and 25 units above April of 2011.  On another positive note, the median sales price rose to $118,500 reflecting some higher to moderate priced condos having sold.

The inventory declined to 606 condos, which is down from 651 units last month and down from the 714 condos that were on the market in April of 2011. The one month absorption rate is now at 8.08 months, while the three month average is down to 9.68 months. It remains a challenging market for condos in Martin County but some signs of life as prices across the board have declined significantly.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

The big uncertainty that remains is the economy. We believe that if we have any sustained good news, we will see a pretty good rush on the market which will be a nice change from the present. For the longer term, even though we have the best mortgage rates in history at the moment, inflation is making news and this is not good for rates down the line. The Fed is working hard to keep rates down, but for how long, we’re just not too sure.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive. For sellers, it doesn’t look like we’re going to see any significant improvements soon, so if you need to sell, you may be better off now than possibly in the near future.

Martin County Florida Condo Market Report for April 2012

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Martin County Florida Residential Market Report for April 2012

05.30.12 by

Martin County Florida Residential Market Report for April 2012

Commentary:

The Martin County Florida residential market report for April 2012 showed another healthy month. The sales volume of 166 homes was 5 homes more than last year with about 300 less homes in inventory. The one month absorption rate was down to 7.5 months while the three month moving average is now at 8.16 months.  This is up slightly from March.  The one month absorption rate is now indicating close to a balanced market.  There are still a significant amount of pending short sales that seem to be taking forever to close.  I am hoping that the lenders are not tightening up their requirements as they also see market activity improving.

Both average and median sales prices were down slightly from March.  This is the second monthly decline after a number of months of increases. This is more a reflection of the mix of homes selling for these months rather than an indication of lower values (More lower-priced homes selling). However, the specter of an increased number of distressed properties being released by the banks remains. Should a large number of foreclosures come on the market, this will further depress prices and keep the values relatively stable at best.

Our outlook for Martin County remains optimistic as prices and rates remain at historic low levels. For sellers, homes are selling, and if priced and presented optimally, they are going quickly. Buyers are seeing historically low-interest rates and very affordable quality homes in almost all price ranges.

Please feel free to contact us if you have any difficulty interpreting these charts.

Click on the individual charts to see charts in expanded mode.

Martin County Florida Residential Market Report for April 2012

the Gabe Sanders real estate team

Residential Homes, Condos and Land
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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, April 2012

05.29.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, April 2012

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for April 2012

For April 2012 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 35 active condo listings. (Down 3 from March)

6 Condo sales are pending and awaiting close or lender approval. (Down 1 from March)

5 Condos sold in April (Unchanged from March)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the martin County real estate market.  April showed continued activity with five closed sales and a further decrease in inventory. I don’t expect to see any great movement in this segment of the Treasure Coast Florida condo market, with the current absorption rate on 7 months, indicating a balanced market for April. Last April’s numbers were 39 active listings, 9 pending sales and 3 closed sales. Almost identical to this year’s numbers.

 

 

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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, April 2012

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, April 2012

05.27.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, April 2012

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for April 2012

For April 2012 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 315 active listings. ( A decrease of 8 homes from March)

96 Residential sales are pending and awaiting close or lender approval (A decrease of 8 homes from March)

45 Homes Sold in April (A decrease of 4 homes from last month)

The Hobe Sound real estate market (ZIP Code 33455) continued very strong results into April 2012.  The inventory decreased again while closed and pending sales were off only slightly from a strong March. Compared to last April, we had 409 active listings, 89 pending sales and 47 closed sales, we are very similar to last year’s figures, but all this with almost 25% less inventory.

The Hobe Sound real estate market (zip code 33455) has an April absorption rate of 7 months, which is basically a balanced market.  A good and healthy report.

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Hobe Sound Florida Market Report ZIP Code 33455 – Residential, April 2012

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, April 2012

05.25.12 by

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, April 2012

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for April 2012

For April 2012 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :
(Due to technical difficulties the March Market Snapshot data was unavailable)

There are currently 53 active listings. (Down 15 from March)

28 Condo sales are pending and awaiting close or lender approval. (Up 2 condos from March)

8 Condo Sold (Unchanged from March)

The Jensen Beach Condo market (zip code 34957)  is a fairly small segment of the Martin County condo market.  The current inventory has fallen to new lows with only 53 condos on the market.  Pending sales remain high and closed sales were unchanged from last month.   With an April absorption rate of 6.7 months, this is currently a balanced market.

Last April there were 61 active listings, 20 pending sales and 6 closed sales. Basically unchanged over the year.

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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, April 2012

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, April 2012

05.24.12 by

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, April 2012

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for April 2012

For April 2012 in the 34957 Zip Code area of Jensen Beach, Florida :

There are currently 135 active listings. (Up 11 homes from last month)

78 Residential sales are pending and awaiting close or lender approval. (Down 24 homes from March)

33 Homes Sold (Down 3 from March)

After a blistering March, the Jensen Beach real estate market (ZIP Code 34957) cooled off a bit for April, but still had some positive results with 33 homes sold.  A modest increase in inventory this month and an unexpected drop in pending sales are stats that we will need to keep an eye on.  Still, quite good numbers when the fairly small inventory is considered.
The April 2011 numbers were 181 active listings, 75 pending sales and 25 closed sales.  Still better than last years numbers.  If the inventory does not grow appreciably in the next few months, I’m not expecting any significant improvement for the Jensen Beach residential real estate market (ZIP Code 34957).

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Jensen Beach Florida Market Report ZIP Code 34957 – Residential, April 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, April 2012

05.22.12 by

Palm City Florida Market Report ZIP Code 34990 – Condo, April 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for April 2012

For April 2012 in the 34990 Zip Code area of Palm City, Florida :



There are currently 66 active condo listings. (Unchanged from March)

3 Condo sales are pending and awaiting close or lender approval. (Up 1 from last month)

1 Condo Sold in April. (Down 2 from March)

The 34990 zip code area of Palm City condo market is a fairly small section of this area as most property in Palm City is either single family homes or town homes. Most of the condos in Palm City are not as attractive to Martin County’s seasonal buyers and tend to be more attractive to a greater number of year round residents. This segment of the market currently is treading water with small changes in all categories.  The only bright note is the single sale this month was one of the higher priced condos in the Admiralty.

Last years numbers for the Palm City (34990 zip code area) Condo market were 58 active listings, 10 pending sales and 2 closed sales.  This segment of the martin County real estate market is just not performing at this time, unlike most of our other areas as well as the residential Palm City market.

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Palm City Florida Market Report ZIP Code 34990 – Condo, April 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, April 2012

05.20.12 by

Palm City Florida Market Report ZIP Code 34990 – Residential, April 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for April 2012

For April 2012 in the 34990 Zip Code area of Palm City Florida :

There are currently 462 active listings (A decrease of 14 homes from March)

228 Residential sales are pending and awaiting close or lender approval. (An increase of 26 homes from last month)

49 Homes Sold in April (Increased 2 homes from March)

For the Palm City, zip code 34990, area of Martin County Florida, the strong March continued into April with positive movement in all categories. Very strong results!

Comparing these numbers to April of 2011, when there were 524 active listings, 151 pending sales and 59 homes sold, very similar numbers with a significantly smaller inventory, the exception being the much larger number of pending sales, which should translate into higher closed sales soon.

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Palm City Florida Market Report ZIP Code 34990 – Residential, April 2012

Stuart Florida Market Report ZIP Code 34997 – Condo, April 2012

05.18.12 by

Stuart Florida Market Report ZIP Code 34997 – Condo, April 2012

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for April 2012

 

For April 2012 in the 34997 Zip Code area of Stuart, Florida :

 

There are currently 115 active condo listings (An increase of 6 condos form March).

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34 Condo sales are pending and awaiting close or lender approval (Down 6 condos from March).

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18 Condos Sold in June (An increase of 4 condos from March).

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Fairly positive April results for the Stuart condo market for the area in ZIP code 34997.  A small increase in inventory and also a small decrease in pending sales, possibly showing the seasonal slowdown for the condo market.  Closed sales were up from March though.
Last years numbers were 124 active listings, 23 pending sales and 9 closed sales. Considerably better April of 2012 compared to last year for the Condo market of the 34997 zip code area of Stuart, Florida.

 

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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for April 2012

 

 

Stuart Florida Market Report ZIP Code 34997 – Residential, April 2012

05.17.12 by

Stuart Florida Market Report ZIP Code 34997 – Residential, April 2012

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for April 2012

There are currently 407 active listings (A decrease of 21 homes from March).

245 Residential sales are pending and awaiting close or lender approval (A decrease of 18 homes from March).

67 Homes Sold in March (Up 6 homes from March)

Another positive month for the 34997 zip code area of Stuart Florida. This segment of the martin County real estate market is just HOT! Inventory took another drop again in April while pending sales also dropped slightly and closed sales were up to 67 sold homes. There is an exceptionally large number of contingent sales (pendings) that are awaiting lender approval in the form of short sales. Hopefully, the majority of these will receive approval and close. It is significant to note that the active inventory has decreased significantly in the past three months, representing over a 30% drop in active listings!
Compared to April of 2011, when there were 560 active listings, 195 pending sales and 55 closed sales, the 34997 area code for Stuart, Florida continues to show great improvement with considerably improved numbers, even with less inventory available.

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Stuart Florida Market Report ZIP Code 34997 – Residential, April 2012

Stuart Florida Market Report ZIP Code 34996 – Condo, April 2012

05.16.12 by

Stuart Florida Market Report ZIP Code 34996 – Condo, April 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for April 2012

For April 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 191 active condo listings (Down 8 from last month).

52 Condo sales are pending and awaiting close or lender approval (A decrease of 6 condos from March).

26 Condos Sold in April (An increase of 3 condos from March)

The inventory continues to decline in the Stuart condo market for the area in ZIP code 34996. Sales activity increased slightly with 3 more sales as compared March and pending sales were down slightly, but still high. Very strong signs for this segment of the market. There was a fairly good mix of both Island units as well as some of the lesser priced 55+ community condos on the mainland selling last month.

Compared to last year in April of 2011, the numbers were 222 active listings, 35 pending sales and 15 closed sales.  Much better numbers this year, especially since the inventory is considerably less.  If this trend continues, it will not be long before we start seeing some gradual price increases in the 34996 Condo market in Stuart, Florida.

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Stuart Florida Market Report ZIP Code 34996 – Condo, April 2012

Stuart Florida Market Report ZIP Code 34996 – Residential, April 2012

05.15.12 by

Stuart Florida Market Report ZIP Code 34996 – Residential, April 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for April 2012

For April 2011 in the 34996 Zip Code area of Stuart, Florida :

There are currently 165 active listings (Unchanged from March).

47 Residential sales are pending and awaiting close or lender approval (Up 11 from March).

8 Homes Sold in April (Down 14 from March).

The 34996 zip code area of Stuart Florida showed weak sales activity in April as compared to March. Pending sales, however, were up sharply and should reflect an increased number of closed sales in the near future while the inventory remained unchanged in a continued positive trend for this section of the residential single family market in Stuart, Florida.

Comparing the numbers to April of 2011, there were 189 active listings, 27 pending sales and 11 closed sales. This April’s activity is considerably better than last year with the exception of a drop in closed sales.  There appears to be a good future trend for the 34996 section of the Stuart, Florida real estate market.

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Stuart Florida Market Report ZIP Code 34996 – Residential, April 2012

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

05.11.12 by

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

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

For April 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 147 active condo listings (Up by 4 condos from March).

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

15 Condos Sold in April (Unchanged from March).

The Stuart Condo market for zip code 34994 showed little change in April with very similar numbers from the previous two months.  We’ve also had the first uptick in inventory in a few months as some sellers may feel the time is right to put their condo on the market.

In April of 2011 the numbers were: Active – 144, Pending – 50 and Sales – 25. Compared to last year, we are slightly below expectations.

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

Stuart Florida Market Report ZIP Code 34994 – Residential, April 2012

05.10.12 by

Stuart Florida Market Report ZIP Code 34994 – Residential, April 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for April 2012

For April 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 79 active listings (Down 5 from March).

40 Residential sales are pending and awaiting close or lender approval (Down 1 from March).

5 Homes Sold in April (Down 2 homes from March)

The 34994 ZIP code area of the Stuart, Florida real estate market remained largely unchanged from march.  With a continuing decrease in inventory, finding good quality homes is becoming more of a challenge for any ready willing and able buyers.

Last April at this time, there were 88 active listings, 28 pending sales and 8 closed sales.  Slightly off from last years numbers.

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Stuart Florida Market Report ZIP Code 34994 – Residential, April 2012

Sewalls Point Market Report – Residential, April 2012

05.09.12 by

Sewalls Point Market Report – Residential, April 2012

Sewalls Point Real Estate Snapshot, Residential Sales for April 2012

There are currently 63 active listings (an increase of 2 homes for sale from March)

19 Residential sales are pending and awaiting close or lender approval (An increase of 5 from March)

2 Homes sold in March (Down 1 from March)

The market remains slow for the Sewalls Point real estate area of Martin County, Florida.  The one bright note is a fairly large increase in pending sales.  This will hopefully translate into some healthier numbers of closed sales in the near future.  Both closed sales and inventory remain basically unchanged from last month.

Comparing the results to April of 2011, the inventory is basically unchanged as there were 60 homes on the market last year, pending sales were 12, and 5 homes sold. Closed sales were higher last year.  We should see closed sales for the near future catch up with last years figures as the higher number of this years pending sales close.

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Sewalls Point Market Report – Residential, April 2012

Martin County Florida Condo Market Report for March 2012

04.30.12 by

Martin County Florida Condo Market Report for March 2012

Commentary:

Unlike the residential segment of the Martin County real estate market, the Martin County Florida Condo Market Report for March 2012 showed modest increases for March of 2012 rather than the explosive growth in the single family segment of the Martin County real estate market.  Sales for March were a respectable 64 units, 19 units less than March of 2011 (83 units)  but higher than February’s 57 units. On a positive note, the median sales price rose to $103,500 from an anemic $85,000 last month.

The inventory rose slightly to 651 condos, which is up from 640 units last month and down from the 721 condos that were on the market in March of 2011.  The one month absorption rate is now at 10.2 months, while the three month average is at 12.4 months.  It remains a challenging market for condos in Martin County. We need to see the absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

The big uncertainty that remains is the economy. We believe that if we have any sustained good news, we will see a pretty good rush on the market which will be a nice change from the present. For the longer term, even though we have the best mortgage rates in history at the moment, inflation is making news and this is not good for rates down the line. The Fed is working hard to keep rates down, but for how long, we’re just not to sure.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive. For sellers, it doesn’t look like we’re going to see any significant improvements soon, so if you need to sell, you may be better off now than possibly in the near future.

Martin County Florida Condo Market Report for March 2012

the Gabe Sanders real estate team

Condo Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

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