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

09.23.12 by

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

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

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



There are currently 63 active condo listings. (An increase of 1 condo from July)

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

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4 Condos Sold in August. (Up 3 from July)

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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 August, closed sales were up 3 units from the one sale of July.  Both pending sales and the inventory only changed by 1 unit for August.
The one month absorption rate for the Palm City Florida condo market is 15.5 months.  Still a significant buyers market.
The August 2011 numbers were: 52 active listings, 5 pending sales and 4 closed sales.   Very similar to this year.  The one statistic to note, unlike most other segments of the Martin County real estate market, the inventory for Palm City condos is up from last year.

 

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

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

09.22.12 by

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

 

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

 

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


There are currently 400 active listings (A decrease of 16 homes from July)

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161 Residential sales are pending and awaiting close or lender approval. (A decrease of 8 homes from last month)

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68 Homes Sold in August (Increased 5 homes from July)

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For the Palm City, zip code 34990, area of Martin County Florida activity remained strong for August after a super spring.  Closed sales were up again.  Pending sales were off for the first time in a number of months, possibly reflecting the typical seasonal slow down for Palm City Florida during the summer months.  The inventory of available homes for sale also declined again, now at levels approaching those during the height of the real estate boom in the mid 2000’s.  The market activity remains active, much more so than in the past few years.

The current absorption rate is 5.8 months, which is considered to be a balanced market, but sliding towards a sellers market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The August 2011 numbers were:  466 active listings, 139 pending sales and 42 closed sales.  Considerably improved market activity for August 2012, especially when the lower inventory is factored into the results.

 

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

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

09.20.12 by

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

 

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

 

For August 2012 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :

There are currently 50 active listings. ( A decrease of 4 condos from July)

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27 Condo sales are pending and awaiting close or lender approval. (Up 4 condos from July)

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4 Condo Sold (Down 1 from July)

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The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market. The current inventory is now very low at only 50 condos available for sale. This might be an excellent time for those who have a need to sell their Jensen Beach condo in zip code 34957.  Pending sales were up marginally and closed sales fell for August by 1 unit. Considering that this is the summer season where the condo market activity is normally slow, this segment continues with good activity.

The one month absorption rate for the August 2012, Jensen Beach Florida Market Report ZIP Code 34957 stands at a very unimpressive 12.5 months.  Still a strong buyers market, but there just isn’t very much quality inventory.  I’m expecting this to change when some of the pending sales close.

The August 2011 numbers were: 51 active listings, 15 pending sales and 5 condos closed.  Other than the significantly larger number of pending sales, the inventory and closed sales are virtually identical.


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

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

09.19.12 by

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

 

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

 

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

 

There are currently 128 active listings. (Up 15 homes from last month)

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83 Residential sales are pending and awaiting close or lender approval. (Down 11 homes from July)

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26 Homes Sold (Up 4 homes from July)

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Another positive month for the Jensen Beach residential real estate market, zip code 34957.   The inventory increased for August, which is now a positive sign as it was getting very low.  With a little more inventory, buyers will have a better selection of homes to choose from.  Closed sales were up, while pending sales decreased.
 
The current absorption rate for the Jensen Beach Florida Market Report ZIP Code 34957 is 4.9 months.  This signifies a sellers market, in which the seller has an advantage over the buyer due to low inventory and increased demand.  A 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.
 
The August 2011 numbers were: 153 active listings, 75 pending sales and 18 home sales closed.  Even with significantly less inventory, much better sales figures for August 2012.
 

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

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

09.18.12 by

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

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

 

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

 

There are currently 98 active condo listings (A decrease of 2 condo form July).

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24 Condo sales are pending and awaiting close or lender approval (Down 4 condos from July).

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15 Condos Sold in August (An increase of 2 condos from July).

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Bucking the trend for the other condo markets in Martin County, the Stuart condo market for the area in ZIP code 34997 had excellent numbers for August of 2012.  Inventory is now down to only 98 units while both pending and closed sales rose.

The one month absorption rate is at 6.5 months, which is basically a balanced market, favoring neither the seller or buyer.

The August 2011 numbers were: 107 active listings, 16 pending sales and 9 closed sales.  A considerable improvement this year from 2011.

 

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

 

 

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

09.15.12 by

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

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

 

There are currently 332 active listings (an increase of 2 homes from July).

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195 Residential sales are pending and awaiting close or lender approval (A decrease of 27 homes from July).

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82 Homes Sold in July (Up 32 homes from July)

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Very strong results from the 34997 zip code area of Stuart Florida. This segment of the Martin County real estate market continues to outperform other areas of Martin County.  Closed sales were up significantly for August.   Pending sales were off, most likely because of the high number of closed sales.  The inventory was up by 2 homes in the 34997 zip code of Stuart, Florida.
 
The current one month absorption rate is just over 4 months, which normally signifies a sellers market.   Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 month absorption rate.
 
The 2011 numbers were: 484 active listings, 181 pending listings and 56 closed sales.
 
 

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

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

09.14.12 by

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

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

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

 

There are currently 190 active condo listings (Unchanged from last month).

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19 Condo sales are pending and awaiting close or lender approval (an increase of 2 condos from July).

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12 Condos Sold in August (Unchanged from July)

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The Stuart Florida Market Report ZIP Code 34996 for Condos was basically unchanged from July.  The only difference was an increase of 2 pending sales.  We are now in the off peak season for condos and it’s not unusual to see a lower number of pending sales and fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just under 16 months.  Still a very strong buyers market for now.

The numbers for August 2011 were: 192 active listings, 29 pending sales and 12 closed sales.  Very similar numbers to the current market.

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

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

09.13.12 by

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

 

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

 

 

For August, 2012 in the Stuart Florida Market Report ZIP Code 34996 Florida :

There are currently 166 active listings (Unchanged from July).

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34 Residential sales are pending and awaiting close or lender approval (Up 6 from July).

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6 Homes Sold in August (Down 5 from July).

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The 34996 zip code area of Stuart Florida showed a decrease in sales for August.  Pending sales were up as compared to last month while inventory remained unchanged.  We continued to have some excellent sales in the higher price brackets this month, continuing a trend from July.   The one month absorption rate for the 34996 zip code area of Stuart Florida for August is 33 months, which still has plenty of room for improvement.  A balanced market, favoring neither buyer or seller is considered to be around a 6 month absorption rate.

The numbers for August of 2011 were: 160 active listings, 28 pending sales and 9 closed sales.  Unusually better numbers last year than for 2012, compared to other segments of the martin County real estate market.

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

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

09.12.12 by

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

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

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

 

There are currently 143 active condo listings (Down 10 condos from July).

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43 Condo sales are pending and awaiting close or lender approval. (Up 13 from last month)

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13 Condos Sold in August (Decreased by 4 condos from July).

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Somewhat surprisingly strong results for the Stuart Condo market for zip code 34994.  While sales were off by 4 condos, pending sales were up by a significant 13 units.  The available inventory also decreased significantly.  The one month absorption rate is at 11.8 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 August the numbers were 136 active listings, 43 pending sales, and 16 closed sales.  There is still great room for improvement in this segment of the Stuart Florida condo market.

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

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

09.11.12 by

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

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

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

 

There are currently 58 active listings (Down 4 from July).

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38 Residential sales are pending and awaiting close or lender approval (Down 15 from July).

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14 Homes Sold in August (Down 2 homes from July)

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The 34994 ZIP code area of the Stuart, Florida real estate market activity slowed somewhat from the active spring and early summer.  Both sales and pending sales declined for August. The inventory continued to decline and is now down to very low levels for this segment of the Stuart Florida market.  With only 58 available homes for sale in this zip code are of Stuart, finding quality well priced homes is becoming difficult for buyers.

The one month absorption rate for this zip code is just over 4 months, which signifies a sellers market.  Excellent time for those wishing to place their homes on the market for sale.  The August 2011 numbers were 84 Active Listings, 27 pending sales and 5 closed sales.

 

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

Sewalls Point Residential Market Report August 2012

09.09.12 by

Sewalls Point Residential Market Report August 2012

Sewalls Point Real Estate Snapshot, Residential Sales for August 2012

There are currently 57 active listings (an increase of 1 home for sale from July)

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16 Residential sales are pending and awaiting close or lender approval (am increase of 2 homes from July)

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3 Homes sold in July (Down 2 from July)

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The Sewalls Point market report for August 2012 remained pretty static compared to the spring when we had much greater activity.  There is still a fairly high inventory of Sewalls Point homes on the active market, though with 16 pending sales, this number should decrease if these sales close.  Then it will depend on whether or not more home owners decide to sell their homes or not.  The demand for well priced Sewalls Homes is strong, unfortunately demand for many homes in the higher price ranges is just not there at the present time.

Comparing the results to August of 2011, the inventory higher this year as there were only 37 homes on the market last year, pending sales numbered 13, and there were 4 sales from $325,000 to $819,000.  Considerably better numbers last year. Hopefully the Sewalls Point real estate market will show some better activity in the coming season.

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Sewalls Point Market Report – Residential, August 2012

Martin County Florida Condo Market Report for July 2012

08.31.12 by

Martin County Florida Condo Market Report for July 2012

 

Commentary:

The Martin County Florida Condo Market for July 2012 is showing signs of improvement even though we are now in the typically slower summer season for condo sales.  Sales for July were a strong 57 units, which is the highest number of condo sales for a July since 2005.  The inventory continues to shrink, although at a slower rate.  I would not be surprised to see some inventory growth as we get into the upcoming  fall and winter condo season.   For the first time in five months, we’ve seen a drop in median sales prices.  Rather than a decrease in values, this is indicative of a greater number of lower priced condos in the mix of the completed sales.

The inventory is now down to 571 condos, down from the 652 condos that were on the market in July of 2011. The one month absorption rate is now at 10.02 months, while the three-month average is at 8.99 months.  While it remains a somewhat challenging market for condos in Martin County, there are 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.

With any change to a favorable consumer sentiment, I expect condo sales to pick up dramatically this coming season as nervous potential vacation home buyers will have the courage to step off the sidelines.

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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 July 2012

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

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Martin County Florida Residential Market Report for July 2012

08.30.12 by

Martin County Florida Residential Market Report for July 2012

 

Commentary:

The Martin County Florida residential market report for July 2012 continues to show excellent results. The sales volume of 155 homes is 20 homes better than 2011 and 10 homes better than 2010, when those numbers were inflated by the governments first time buyers assistance programs.

Both average and median sales prices were up for July and are showing a slow but steady rise from previous months (on average).  Certain segments of this market are definitely increasing in value.  Whether this trend continues or not will be dependent on factors such as interest rates, inventory and distressed properties.

The inventory is now down to 1132 homes, down from the 1327 homes that were on the market in July of 2011 (and the 2804 homes in July of 2007). The one month absorption rate is now at 7.3 months, while the three-month average is down to 6.28 months.  These absorption rates signify a balanced market, favoring neither seller or buyer.

We are increasingly seeing buyers unable to find homes in their criteria with today’s low inventory levels.  Either they have to settle for something less than their requirements or move on to different areas or even postpone their home purchases.  For those thinking about selling their homes, this is the best time in many years.

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

 

Martin County Florida Residential Market Report for July 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

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

08.29.12 by

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

 

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

 

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

 

There are currently 28 active condo listings. (Down 2 from June)

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

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  3 Condos sold in July (A decrease of 3 condos from June)

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The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. July showed fewer closed sales, one less pending sale recorded as well as another decrease in inventory.  With only 28 units available it’s fairly slim pickings in the Hobe Sound Florida Market Report ZIP Code 33455 condo market.

The one month absorption rate is 9.3 months, signifying that it’s still a buyers market.  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.



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

 

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

08.28.12 by

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

 

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

 

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

There are currently 279 active listings. ( An increase of 13 homes from June)

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77 Residential sales are pending and awaiting close or lender approval (A decrease of 16 homes from June)

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31 Homes Sold in July (A decrease of 15 homes from last month)

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The Hobe Sound real estate market (ZIP Code 33455) took a little turn for July.  For the first time in quite a few months, the inventory increased.  Pending sales and closed sales were also off.  This is the only segment in Martin County reporting such results, so it remains to be seen if this is just a seasonal abnormality or a developing trend.

The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 stands at 8.6 months.  This is still a buyers market in Hobe Sound.  An absorption rate of 6 months is considered to be a balanced market favoring neither the buyer or seller.

 

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

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

08.26.12 by

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

 

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

 

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

 

There are currently 54 active listings. ( A decrease of 4 condos from June)

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

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5 Condo Sold (Down 1 from June)

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The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market. The current inventory is now very low at only 54 condos available for sale. This might be an excellent time for those who have a need to sell their Jensen Beach condo in zip code 34957.  Pending sales were up marginally and closed sales fell for July by 1 unit. Considering that this is the summer season where the condo market activity is normally slow, this segment continues with good activity.

The one month absorption rate for the July 2012, Jensen Beach Florida Market Report ZIP Code 34957 stands at 9.7 months.  Still a buyers market, but down significantly from past months.


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

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

08.25.12 by

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

 

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

 

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

 

There are currently 113 active listings. (Down 8 homes from last month)

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94 Residential sales are pending and awaiting close or lender approval. (Up 6 homes from June)

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22 Homes Sold (Down 3 homes from June)

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Another positive month for the Jensen Beach residential real estate market, zip code 34957.   Inventory declined again for July and is now at quite low numbers of available homes for sale.  Closed sales declined fractionally, while pending sales increased.
 
The current absorption rate for the Jensen Beach Florida Market Report ZIP Code 34957 is 5.1 months.  This signifies a sellers market, in which the seller has an advantage over the buyer due to low inventory and increased demand.  A 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.
 

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

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

08.24.12 by

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

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

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



There are currently 62 active condo listings. (A decrease of 4 condos from June)

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7 Condo sales are pending and awaiting close or lender approval. (Up 2 from last month)

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1 Condos Sold in July. (Down 2 from June)

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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.  For July, closed sales were only 1, and this particular condo sold at an extremely discounted price.  It is located in Pipers landing, so there were a number of other fees entailed in the purchase of this unit.  However pending sales increased to 7 condos and the inventory once again declined.

 

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

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

08.21.12 by

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

 

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

 

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


There are currently 416 active listings (A decrease of 25 homes from June)

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169 Residential sales are pending and awaiting close or lender approval. (A decrease of 20 homes from last month)

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63 Homes Sold in July (Decreased 7 homes from June)

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For the Palm City, zip code 34990, area of Martin County Florida activity remained strong for July after a super spring.  Both closed and pending sales declined slightly for this month.  The inventory of available homes for sale also declined again, now at levels approaching those during the height of the real estate boom in the mid 2000’s.  Still good numbers and market activity remains active, more so than the past few years.

The current absorption rate is 6.6 months, which is considered to be a balanced market that doesn’t favor either sellers or buyers.

 

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

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

08.20.12 by

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

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

 

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

 

There are currently 100 active condo listings (A decrease of 9 condo form June).

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

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13 Condos Sold in July (An increase of 3 condos from June).

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Bucking the trend for the other condo markets in Martin County, the Stuart condo market for the area in ZIP code 34997 had excellent numbers for July of 2012.  Inventory is now down to only 100 units while both pending and closed sales rose.

The one month absorption rate is at 7.7 months.  Still a slight buyers market, as a six moth absorption rate typically signifies a balanced market favoring neither the seller or buyer.

 

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