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

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

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

There are currently 153 active condo listings (Up 13 condos from June).

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30 Condo sales are pending and awaiting close or lender approval. (Down 10 from last month)

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17 Condos Sold in July (Increased by 5 condos from June).

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The Stuart Condo market for zip code 34994 showed an increase in closed for July, after a disappointing June. A little bit of a surprise as we head into the historically slower season for condo sales.   Pending sales were off by 25% and also a surprise, we’ve had the first increase in inventory in quite some time.  Most sales were in the more modest categories of under $80,000.

The one month absorption rate for this market is now 9 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.

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

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

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

There are currently 140 active condo listings (Down by 10 condos from May).

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

12 Condos Sold in June (Decreased by 11 condos from May).

The Stuart Condo market for zip code 34994 showed a marked decrease of closed sales possibly indicating a seasonal slowdown for the summer months.  But pending sales took a small jump, which is encouraging.  Active listings were down by 10, now only 140 active listings.  Lower inventory typically means less supply, which with any return in demand, might indicate price rises in the near future.

Last year in June of 2011 the numbers were: 148 active listings, 44 pending listings and 10 closed sale.  Fairly similar numbers from last year, with slightly better numbers in all categories.

The one month absorption rate for this market is now 12 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.