Martin County Florida Residential Market Report for January 2013

02.26.13 by

Martin County Florida Residential Market Report for January 2013

 

Commentary:

The Martin County Florida residential market report for January 2013 showed reduced sales activity which is mot unexpected as a result of slower activity from the holiday season.  But, we still showed stronger activity than for the past 3 January periods.  All this with an inventory of available homes now down by close to 50% from 2010.

Average and median sales prices were down for January.  The inventory of available homes finally showed a small increase of 49 homes.  This is positive news as the inventory was getting down to a point where there just wasn’t enough choices for willing buyers.  The one month absorption rate for January moved to 8.4 months, while the three-month average rose to 7.4 months.  A 6 month absorption rate is considered to be a balanced market, so we remain in a slight buyers market in Martin County.

February’s’s showing activity remains strong.  Some fairly positive economic data and strong positive Wall Street news should signal continuing positive real estate activity for the next few months.  Currently, I’m seeing issues with short sales as the banks seem to be reading the national statistics of increasing prices and are currently pricing many of their short sales at initially unacceptable levels.

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

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The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Residential Market Report for January 2013

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Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, January 2013

02.25.13 by

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, January 2013

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for January 2013

 

For January 2013 in the 33455 Zip Code area of Hobe Sound, Florida :

 

There are currently 19 active condo listings. (Down by 7 condos from December)

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8 Condo sales are pending and awaiting close or lender approval. (Decreased by 2 condos from December)

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  4 Condos sold in January (An increase of 2 condos from December)

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The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  With a significant further decrease in inventory, I don’t see any meaningful market activity coming from this segment in the spring.  For January, good strong closed and pending activity when considering only 19 available condos for sale in this market segment.

The one month absorption rate is down to 4.8 months, signifying a sellers market.  Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.

The January 2012 numbers were:  32 active listings, 3 pending sales and 5 closed sales.  Considering the inventory, the market activity for January of 2013 was better than the same month last year.



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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, January 2013

 

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, January 2013

02.24.13 by

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, January 2013

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for January 2013

 

For January 2013 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 262 active listings. ( A decrease of 31 homes from December)

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96 Residential sales are pending and awaiting close or lender approval (An increase of 12 homes from December)

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28 Homes Sold in January (A decrease of 17 homes from last month)

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After a very strong fall and winter from the Hobe Sound residential real estate market (zip code 33455) of Martin County, January has started off with a bit of a whimper.  Closed sales were off and the inventory was also down.  Pending sales were the only bright spot with an increase of 12 homes under contract.

The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 dropped to 9.4 months.  Back to a buyer’s market again.  An absorption rate of 6 months is considered to be a balanced market favoring neither the buyer or seller.

The numbers for January 2012 were:  359 active listings, 78 pending sales and 22 closed sales.   Compared to last year, we have considerably stronger activity in January of 2013 with better numbers, especially considering a much smaller number of available homes (inventory).

 

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Hobe Sound Florida Market Report ZIP Code 33455 – Residential, January 2013

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, January 2013

02.23.13 by

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, January 2013

 

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for January 2013

 

For January 2013 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :

There are currently 66 active listings. ( An increase of 1 condo from December)

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27 Condo sales are pending and awaiting close or lender approval. (Up 10 condos from December)

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5 Condos Sold (No change from December)

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The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market.  Inventory was up once again (though only by 1 unit) for the third month in a row.   Closed sales remained unchanged, while there was a nice increase in pending sales.  If this continues through the spring, we should have an active condo market in the Jensen Beach area of Martin County.

The one month absorption rate for the January 2013, Jensen Beach Florida Market Report ZIP Code 34957 is 13 months.  A strong buyer’s market.  Typically, a 6 month absorption rate is considered balanced, favoring neither the buyer or seller.

The January 2012 numbers were: 70 active listings, 16 pending sales and 7 condos closed.  Last year’s activity is very similar to January 2013, with the exception of a considerably higher number of pending sales.


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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, January 2013

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, January 2013

02.22.13 by

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, January 2013

 Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for January 2013

 For January 2013in the 34957 Zip Code area of Jensen Beach, Florida :

 

 There are currently 122 active listings. (Up 9 homes from last month)

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66 Residential sales are pending and awaiting close or lender approval. (Up 14 homes from December)

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14 Homes Sold (Down 12 homes from December)

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The Jensen Beach residential real estate market, zip code 34957 for January showed a marked decrease in closed sales.  This is not unusual after strong closed sales for the end of the previous year.  With the new year, there’s another month of some increased inventory along with a sizable increase in pending sales.  This should result in an active spring market for the 34957 zip code area of Martin County.
 
The current absorption rate for the Jensen Beach Florida Market Report ZIP Code 34957 dropped to 8 months. This is a market that favors buyers over sellers.  A 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.
 
The January 2012 numbers were: 293 active listings, 96 pending sales and 23 home sales closed. Our current inventory is down to almost half of what it was last year.  Because of that, our market activity is also lower this year.

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Jensen Beach Florida Market Report ZIP Code 34957 – Residential, January 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, January 2013

02.21.13 by

Palm City Florida Market Report ZIP Code 34990 – Condo, January 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for January 2013

 

For January 2013 in the 34990 Zip Code area of Palm City, Florida :



There are currently 69 active condo listings. (An increase of 6 condos from December)

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

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3 Condos Sold in January. (No change from December)

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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.  Thus making meaningful market comparisons somewhat difficult as small changes can have a great effect on the percentages and results.  For January, other than a small increase in available condos, there was no change in other market activity.
 
The current absorption rate for condos in the 34990 zip code area is 23 months.  A very strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
 
The January 2012 numbers were: 68 active listings, 6 pending sales and 3 closed sales.   Close to being identical with this year’s activity.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, January 2013

Palm City Florida Market Report ZIP Code 34990 – Residential, January 2013

02.20.13 by

Palm City Florida Market Report ZIP Code 34990 – Residential, January 2013

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for January 2013

 

For January 2013 in the 34990 Zip Code area of Palm City Florida :


There are currently 411 active listings (An increase of 13 homes from December)

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176 Residential sales are pending and awaiting close or lender approval. (An increase of 47 homes from last month)

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39 Homes Sold in January (Decreased by 6 homes from December)

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For the Palm City, zip code 34990, area of Martin County Florida, the real estate activity slowed again for the second month in a row.  The notable exception was a sizable jump in pending sales.  Providing that the majority of these sales will close in the next few months, we should have an active spring.  Inventory was also up slightly.  Good news as we need a variety of available homes to be on the market to have an active spring market. 

The current absorption rate stands at 10.5 months.  This rate still signifies a buyer’s market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The January 2012 numbers were:  474 active listings, 161 pending sales and 72 closed sales.  Closed sales were considerably better last year.  Even accounting for the higher inventory.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, January 2013

Stuart Florida Market Report ZIP Code 34997 – Condo, January 2013

02.19.13 by

Stuart Florida Market Report ZIP Code 34997 – Condo, January 2013

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for January 2013

 

For January 2013 in the 34997 Zip Code area of Stuart, Florida :

 

There are currently 106 active condo listings (Increase of 8 condos form December).

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22 Condo sales are pending and awaiting close or lender approval (Up 11 from December).

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3 Condos Sold in January (A decrease of 7 condos from December).

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The Stuart condo market for the area in ZIP code 34997 had a fairly slow January to begin 2013.  Sales were off to only 3 units.  On a bit of a brighter note both the inventory and pending sales were up by healthy amounts.  This should result in some added activity for this segment of the market in the coming months.

The one month absorption rate is at  an atrocious 35 months.  This is an extreme buyers market for the Stuart Florida Market Report ZIP Code 34997.  Typically, a 6 month absorption rate signifies a balanced market that favors neither the buyer nor the seller. 

The January 2012 numbers were: 114 active listings, 24 pending sales and 13 closed sales.  Compared to January of 2012, this year’s market leaves a lot to be desired.  Almost all activity was softer in this segment for the beginning of 2013. 

 

 

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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for January 2013

 

 

Stuart Florida Market Report ZIP Code 34997 – Residential, January 2013

02.18.13 by

Stuart Florida Market Report ZIP Code 34997 – Residential, January 2013

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for January 2013

 

There are currently 361 active listings (An increase of 25 homes from December).

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190 Residential sales are pending and awaiting close or lender approval (An increase of 26 homes from December).

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54 Homes Sold in January (Down 8 homes from December)

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After a stong finish to the year the Stuart Florida Market Report ZIP Code 34997 started out with some slower closed sales.  However, the number of active listings as ell as the pending sales were both up by a good number.  This should indicate a fairly healthy next few months for this market.
 
The current one month absorption rate dropped to 6.7 months which indicates a slight  buyers advantage for the 34997 Stuart zip code real estate market.  Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 month absorption rate.
 
The 2012 numbers were: 530 active listings, 205 pending listings and 45 closed sales.  The most striking number from last year is the difference in inventory of available homes for sale.
 
 

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Stuart Florida Market Report ZIP Code 34997 – Residential, January 2013

Stuart Florida Market Report ZIP Code 34996 – Condo, January 2013

02.17.13 by

Stuart Florida Market Report ZIP Code 34996 – Condo, January 2013

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for January 2013

For January 2013 in the 34996 Zip Code area of Stuart, Florida :

There are currently 218 active condo listings (Up 2 from last month).

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54 Condo sales are pending and awaiting close or lender approval (An increase of 25 condos from December).

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13 Condos Sold in January (Down by 1 from December)

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The Stuart Florida Market Report ZIP Code 34996 for Condos showed some increased activity along with the third straight month of increasing inventory.  Pending sales were up significantly for January while sales were off by 1 condo.  For the less expensive 55+ communities, which make up a significant portion of the 34996 condo market, it’s shaping up to be an active season.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is 16.8 months.  Still indicating a strong buyers’ market.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for January 2012 were: 225 active listings, 32 pending sales and 11 closed sales.  Very similar numbers to this year with the exception of a significantly higher pending sales numbers.

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Stuart Florida Market Report ZIP Code 34996 – Condo, January 2013

Stuart Florida Market Report ZIP Code 34996 – Residential, January 2013

02.16.13 by

Stuart Florida Market Report ZIP Code 34996 – Residential, January 2013

 Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for January 2013

 

For January, 2013 in the Stuart Florida Market Report ZIP Code 34996 Florida :

There are currently 180 active listings (Increased by 29 homes from December).

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23 Residential sales are pending and awaiting close or lender approval (No change from December).

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9 Homes Sold in January (Down 2 homes from December).

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In the 34996 zip code area of Stuart Florida real estate market activity for January 2013 the most glaring change is a fairly sizable increase in inventory.   Pending sales remained unchanged and closed sales dropped slightly.  If the inventory continues to increase, I expect a very active real estate market in the 34996 zip code area of Stuart.

The one month absorption rate for the 34996 zip code area of Stuart Florida for January jumped to 20 months, which represents a strong buyer’s market.  A balanced market, favoring neither buyer or seller is considered to be around a 6 month absorption rate.

The numbers for January of 2012 were: 190 active listings, 28 pending sales and 6 closed sales.  Very similar numbers from last year to this year.

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Stuart Florida Market Report ZIP Code 34996 – Residential, January 2013

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

02.15.13 by

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

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

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

 

There are currently 158 active condo listings (Increase of 5 condos from December).

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41 Condo sales are pending and awaiting close or lender approval. (Up 6 condos from last month)

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15 Condos Sold in January (An increase of 1 condo from December).

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A fairly good month for the Stuart Condo market for zip code 34994.  Not quite as strong as some of the earlier fall moths, but with a slight increase in inventory as well as increases in both pending and closed sales, this segment seems to be holding its own. 

The one month absorption rate is at 10.5 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 January the numbers were 154 active listings, 33 pending sales, and 11 closed sales.  Slightly better numbers for this year with a similar inventory.  This should continue through the year.

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

Stuart Florida Market Report ZIP Code 34994 – Residential, January 2013

02.14.13 by

Stuart Florida Market Report ZIP Code 34994 – Residential, January 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for January 2013

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

 

There are currently 64 active listings (Down 11 from December).

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31 Residential sales are pending and awaiting close or lender approval (Up 4 from December).

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5 Homes Sold in December (Down 9 homes from December)

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The 34994 ZIP code area of the Stuart, Florida real estate market is starting 2013 off with mixed signals.  Pending sales are up while the inventory is now down to very low numbers.  Sales were also off from the end of the year.  Of note is the low inventory which will result in slower market activity in the coming months.  The most likely scenario will be a gradual rise in prices to the point that more sellers will place homes on the market.  This will probably play out during the coming year, barring any unforeseen external economic surprises.

The one month absorption rate for the 34994 zip code for January slid back to 12.8 months. which signifies a buyers market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

The January 2012 numbers were 83 Active Listings, 38 pending sales and 6 closed sales.   Considerably higher inventory.  Other results are pretty much in line for this year from last.

 

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Stuart Florida Market Report ZIP Code 34994 – Residential, January 2013

Sewalls Point Residential Market Report January 2013

02.12.13 by

Sewalls Point Residential Market Report January 2013

Sewalls Point Real Estate Snapshot, Residential Sales for January 2013

 

There are currently 49 active listings (an increase of 13 home for sale from December)

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7 Residential sales are pending and awaiting close or lender approval (a decrease of 1 home from December)

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2 Homes sold in December (Down 4 from December)

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Closed sales were off for the Sewalls Point market report for January 2013.  Pending sales were also off slightly.  This is the second month of decreasing market activity for Sewalls Point.  However, inventory rose sharply in January and this will result in much improved numbers for the coming months..  Now only 36 homes available.  This is approaching historic low levels for Sewalls Point.

The absorption rate now stands at 24.5 months, quite a jump from last December’s 6 month absorption rate.  This is a strong buyers market again.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to January of 2012, the inventory was at 59 homes homes on the market last year, 11 pending sales and there was only 3 closed sales.  Considering the inventory is 11 homes less this year, the January 2013 activity is fairly similar if not a small bit stronger than last year.

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Sewalls Point Market Report – Residential, January 2013

Summerfield Golf Club Market Update for February 2013

02.07.13 by

Summerfield Golf Club Market Update for February 2013 – Home of the Champions Golf Club

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As of February 2 2013:
There are 15 homes on the market ranging in listing price from $199,000 to $459,000 with an average of $151.95 per square foot of living area.

There are two homes under contract (pending) awaiting their closing. Asking prices are $324,500 and $489,900 at an average of $171.00 per square foot of living area.

In the past 12 months, 18 homes have sold.  Sales prices ranged from $163,000 to $465,000 with an average of $128.74 per square foot of living area.

Summerfield Golf Club is located on over 275 acres and hosts a little over 500 single family homes adjoining the Champions Golf Course.  Selected as one of the top 10 Golf Courses he nation by Golf Magazine in 1995, it is the first public golf course awarded the Audubon Signature Sanctuary Statuary because of its natural beauty.  This Tom Fazio designed course is open to the public with very reasonable membership fees.  Visit the Champions Course web site for more information at http://www.thechampionsgolfclub.com/

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The residential section is known as Summerfield Golf Club and is a secured gated community with homes ranging in size from smaller 2 bedroom coach homes of around 1500 square feet up to 5 bedroom estate homes boasting over 3,000 square feet of living area.

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Summerfield boasts an exceptionally large community pool and clubhouse with dining and entertainment facilities, fitness center and a professional 6 court Tennis club.  All of these amenities available at very reasonable HOA fees, along with the convenience of on-site manager to handle any issues that may arise.

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Very conveniently located near US-1 and Cove Rd, residents can enjoy close proximity to shopping, medical facilities with downtown Stuart only minutes away and only 30 minutes to the palm Beaches.  Easy access to I-95 where travel to Orlando or Miami is only 2 hours by car.

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The following homes are currently available for sale in Summerfield:

Summerfield Golf Club Homes for Sale

Stuart Florida Real Estate

Summerfield Golf Club Market Update for February 2013

Martin County Florida Condo Market Report for December 2012

01.30.13 by

Martin County Florida Condo Market Report for December 2012

 

Commentary:

The Martin County Florida Condo Market for December 2012 continues to have its difficulties while the residential segment of the Treasure Coast real estate market is showing positive signs.  Sales for December were 54 units down up from 47 in November.  Pretty similar to last year’s 52 condos and equal to the 54 sold condos in December of 2010.  The inventory rose to 630 condos (up 13 from November) which is 43 condos less than were available last year.  This is the third month of increasing inventory.  If sales do not pick up by an appreciable amount, the increase in inventory will continue to drive prices down.  As evidenced by the median sales price dropping to $100,950 for December of 2012 (Was 110,000 in Dec 2011)   The median listing price was also off to $175,000.  Whether this is just seasonal drop during the holiday season remains to be seen.  Typically we get more higher end condo sales in the spring season.

The one month absorption rate decreased to 11.7 months, while the three-month average is at 12.1 months.  Still a very challenging market for condo sellers.  But quite attractive opportunities for buyers.  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.

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 The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for December 2012

the Gabe Sanders real estate team

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

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate


Martin County Florida Residential Market Report for December 2012

01.28.13 by

Martin County Florida Residential Market Report for December 2012

 

Commentary:

The Martin County Florida residential market report for December 2012 showed strong activity. In a month that typically is slow by historical standards, 166 homes closed, 6 homes better than 2011 and 18 homes better than 2010.  All this with an inventory of available homes now down by close to 50% from 2010.

Average and median sales prices were down for December.  The inventory of available homes showed an unexpected drop this month after a rise in November.  Considerably under the 1426 homes that were on the market in December of 2011 (and the 2764 homes in December of 2007). The one month absorption rate for December remained steady at 6.9 months, while the three-month average dropped to 7.1 months. A 6 month absorption rate is considered to be a balanced market, so we remain in a slight buyers market in Martin County.

January’s showing activity remains strong.  Some fairly positive economic data and strong positive Wall Street news should signal continuing positive real estate activity for the next few months.  Currently, I’m seeing issues with short sales as the banks seem to be reading the national statistics of increasing prices and are currently pricing many of their short sales at initially unacceptable levels.

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

[singlepic id=3243 w=800 h=600 float=center]

The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Residential Market Report for December 2012

the Gabe Sanders real estate team

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

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate

Sewalls Point Residential Market Report December 2012

01.26.13 by

Sewalls Point Residential Market Report December 2012

Sewalls Point Real Estate Snapshot, Residential Sales for December 2012

 

There are currently 36 active listings (a decrease of 5 home for sale from November)

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8 Residential sales are pending and awaiting close or lender approval (a decrease of 2 homes from November)

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6 Homes sold in November (Down 2 from November)

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A bit of a slow down in activity for the Sewalls Point market report for December 2012.  Some of this is due to slower activity during the holiday season and also some due to the decrease in inventory.  Now only 36 homes available.  This is approaching historic low levels for Sewalls Point.

The absorption rate now stands at 6 months.  This is an indication of a balanced market.  Neither seller nor buyer have an advantage in a balanced market. 

Comparing the results to December of 2011, the inventory was at 58 homes homes on the market last year, pending sales numbered only 8  homes, and there was only 5 sales.  Considering the inventory is 22 homes less this year, the December 2012 activity was pretty stron compared to last year.

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Sewalls Point Market Report – Residential, December 2012

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

01.25.13 by

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

 

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

 

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

 

There are currently 26 active condo listings. (Unchanged from November)

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10 Condo sales are pending and awaiting close or lender approval. (No change from November)

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  2 Condos sold in December (An increase of 1 condo from November)

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The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  December showed very little change from last month (which showed very little change from the previous months as well).  In fact the only change was an increase to 2 closed sales from 1 the previous month.

The one month absorption rate is up to 13 months, signifying that it’s still a buyers market.  But this will almost certainly change in the coming months.   Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.  But, with such low numbers, these indicators can easily be misleading.

The December 2011 numbers were:  37 active listings, 7 pending sales and 5 closed sales.  Not quite as robust as last year even when factoring in the smaller inventory of available homes.



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

 

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

01.24.13 by

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

 

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

 

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

There are currently 293 active listings. ( A decrease of 8 homes from November)

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84 Residential sales are pending and awaiting close or lender approval (A decrease of 12 homes from November)

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45 Homes Sold in December (An increase of 16 homes from last month)

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Continued strong results from the Hobe Sound residential real estate market (zip code 33455) of Martin County.  A large jump in closed sales closed out 2012.  A decrease in pending sales which is not unexpected as holiday traffic is generally lighter than most other months.  The inventory also continued it’s decrease which is becoming troubling as the number of available home for sales is quite low.

The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 dropped to 6.5 months.  Now an almost balanced market.  An absorption rate of 6 months is considered to be a balanced market favoring neither the buyer or seller.

The numbers for December 2011 were:  330 active listings, 58 pending sales and 28 closed sales.   We continue to have considerably improved activity as compared to last year.

 

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