Sewalls Point Market Report – Residential, June 2012

07.09.12 by

Sewalls Point Market Report – Residential, June 2012

Sewalls Point Real Estate Snapshot, Residential Sales for June 2012

There are currently 57 active listings (a decrease of 9 homes for sale from April)

14 Residential sales are pending and awaiting close or lender approval (A decrease of 4 from April)

5 Homes sold in April (Down 1 from April)

The Sewalls Point market report for June 2012 remained pretty static compared to last month’s numbers with the exception of a lower inventory.  Whether this is a sign of the sold listings or sellers waiting for the season to sell, remains to be seen.  The sales in June were mostly good value sales with 4 out of 5 above the $500,000 selling price.  Homes that are well-presented and fairly priced are selling.

Comparing the results to June of 2011, the inventory slightly higher this year as there were 52 homes on the market last year, pending sales were 15, and no homes sold.  Considerably better numbers this year as the Sewalls Point real estate market is showing signs of a rebound.

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Sewalls Point Market Report – Residential, June 2012

Martin County Florida Condo Market Report for May 2012

06.30.12 by

Martin County Florida Condo Market Report for May 2012

Commentary:

The Martin County Florida Condo Market for may 2012 continues on a positive trend. Sales for May were a strong 75 units, which equaled the April sales and higher than the past few years. On another positive note, the median sales price rose to $135,000 reflecting some higher to moderate priced condos having sold.  This is the third month we’ve had an increase in median prices.

The inventory declined to 602 condos, down from the 714 condos that were on the market in May of 2011. The one month absorption rate is now at 8.03 months, while the three-month average is down to 8.69 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.  The May numbers are showing that the condo market is slowly crawling back to life and those units that show ell are in fact selling.  At times for even premium prices by today’s standards.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive. For sellers, it looks like this may be an excellent season coming if there’s no big disruption in the economy.  If you need to sell, you may be better off doing so now than facing the uncertainty of what the future may bring.  Especially if you are paying those condo fees.

Martin County Florida Condo Market Report for May 2012

the Gabe Sanders real estate team

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Martin County Florida Residential Market Report for May 2012

06.29.12 by

Martin County Florida Residential Market Report for May 2012

Commentary:

The Martin County Florida residential market report for May 2012 showed surprisingly results. The sales volume of 213 homes was the highest since August of 2005, well before the so-called ‘bubble’ burst.  Along with strong numbers this spring, it certainly indicates that the market is turning for the better.  If this rate of activity continues, I expect to see a strong sellers market developing.  The one month absorption rate for Martin County residential sales is now down to 5.7 months.  This indicates a balanced market, favoring neither seller or buyer.

Both average and median sales prices were up considerably from April. The largest jump in years.  This is not necessarily an indication of rising prices (though some segments of our real estate market are indeed experiencing rising prices), rather, more mid to higher priced homes are selling moving both average and median prices higher.  If it weren’t for the relatively large numbers of short sales, and for Martin County, some foreclosures offered at distressed prices, values would be going higher.  These distressed sales along with a still uncertain economy are holding back prices for now.

Our outlook for Martin County is very 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 and for good prices. Buyers are seeing historically low-interest rates and very affordable quality homes in almost all price ranges.  Many buyers, thinking bargains are still to be had are finding themselves outbid over and over again and until they understand the current reality will be out of luck finding that elusive deal.

Martin County Florida Residential Market Report for May 2012

the Gabe Sanders real estate team

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

06.27.12 by

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

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

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

There are currently 33 active condo listings. (Down 2 from April)

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

  1 Condos sold in May (A decrease of 4 condos from April)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. May showed slower activity with only 1 closed sale and a further decrease in inventory to only 33 available units. pending sales were up slightly, so there should be some closed sales in the coming months.  I don’t expect to see any great movement in this segment of the Treasure Coast Florida condo market with such a small inventory.

Last May’s numbers were 40 active listings, 8 pending sales and 1 closed sales. Other than a greater number of active listings, almost identical to this year’s numbers.

 

 

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

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

06.26.12 by

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

 

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

 

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

There are currently 285 active listings. ( A decrease of 30 homes from April)

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

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43 Homes Sold in May (A decrease of 4 homes from last month)

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The Hobe Sound real estate market (ZIP Code 33455) continued very strong results into May 2012. The inventory decreased significantly this month by 30 homes, while closed sales remained strong and pending sales also showing good future sales providing they close in the near future. The Hobe Sound market has maintained better strength through the late spring season than most segments of the Martin County real estate market.

Last year, in May of 2011, we had 379 active listings, 93 pending sales and 30 closed sales. Considering the fact that there’s almost 100 less homes on the market and sales and pending sales are still better than in 2011, the market in Hobe Sound appears to be healthy and improving.

 

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

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

06.25.12 by

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

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

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

There are currently 58 active listings. ( Up 5 from April)

26 Condo sales are pending and awaiting close or lender approval. (Down 2 condos from April)

8 Condos Sold (Unchanged from April)


The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market. The current inventory remains very low, though there was a small rise this month. Pending sales remain high and closed sales were steady at 8 condos sold for the third month. With an May absorption rate of 7.3 months, the Jensen Beach condo market is very close to a balanced market.

Last May there were 55 active listings, 19 pending sales and 7 closed sales.  With the exception of a higher number of pending sales, basically this market is very similar to last year.

 

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

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

06.24.12 by

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

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

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

There are currently 139 active listings. (Up 5 homes from last month)

82 Residential sales are pending and awaiting close or lender approval. (Up 4 homes from April)

18 Homes Sold (Down 15 from April)

A second slower month for the Jensen Beach residential real estate market, zip code 34957.  Inventory rose incrementally, pending sales were up also, but sales were off by almost 50% from last month.  After a strong spring, it appears we may be off to a slower summer, though the pending sales activity is strong and could reflect in good sales for the coming months if they all close.
The May 2011 numbers were 165 active listings, 71 pending sales and 23 closed sales.  Sales were higher last year, but with a considerably larger inventory, so as a percentage, fairly similar if not marginally better numbers for the May 2012 Jensen Beach residential real estate market (ZIP Code 34957).

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

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

06.23.12 by

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

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

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

There are currently 66 active condo listings. (Down 2 from April)

8 Condo sales are pending and awaiting close or lender approval. (Up 5 from last month)

2 Condos Sold in May. (Up 1 from April)

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 May, there was good activity for this market.  Inventory continues to decline.  Both pending and closed sales were up from last month.  For this segment of the Martin County real estate market, we expect to see continued steady activity.  But, with the fairly small market base, we don’t expect to see any major shifts in the market.

Last years numbers for the Palm City (34990 zip code area) Condo market were 58 active listings, 10 pending sales and 2 closed sales.  As opposed to most Martin County markets, inventory is slightly higher from last year.  However, the sales activity has also improved slightly.

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

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

06.22.12 by

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

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

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

 

There are currently 462 active listings (An increase of 12 homes from April)

203 Residential sales are pending and awaiting close or lender approval. (A decrease of 25 homes from last month)

70 Homes Sold in May (Increased 21 homes from April)

For the Palm City, zip code 34990, area of Martin County Florida, the strong April continued into May with excellent closed sales.  Pending sales decreased in May which may indicate some slower closed sales in the months ahead.  Inventory was also up slightly as more home owners may realize that this could be an excellent time to sell their home.

Comparing these numbers to May of 2011, when there were 532 active listings, 129 pending sales and 61 homes sold.  Showing an all around improvement from last year, though only moderately better.  Interest levels for buyers remains high in the Palm City market and we are looking for continued strong activity in this market.

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

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

06.21.12 by

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

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

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

There are currently 110 active condo listings (A decrease of 5 condos form April).

29 Condo sales are pending and awaiting close or lender approval (Down 5 condos from April).

14 Condos Sold in June (A decrease of 4 condos from April).

A slightly disappointing month for the Stuart condo market for the area in ZIP code 34997.  While inventory decreased to 110 condos both pending and closed sales were also off.  The 34997 zip code area of Stuart contains a fairly good supply of condo communities, but there is definitely a shortage of good inventory which is affecting sales.  The current one-month absorption rate is just under 8 months.  Still a buyer’s market, but close to a balanced market which would be with a 6 to 7-month absorption rate.
Last years numbers were 111 active listings, 30 pending sales and 8 closed sales.  The market is marginally better than May of 2011.  We are now being hampered by lack of inventory.

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

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

06.20.12 by

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

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

There are currently 389 active listings (A decrease of 18 homes from April).

225 Residential sales are pending and awaiting close or lender approval (A decrease of 20 homes from April).

92 Homes Sold in April (Up 25 homes from April)

More good results from the 34997 zip code area of Stuart Florida. This segment of the Martin County real estate market has had an exceptionally strong spring! Inventory took another drop again in May while pending sales also dropped, most likely reflecting the decrease of seasonal home buyers on the Treasure Coast.  Sales rose to a solid 92 homes for May!  The best month in closed sales for one segment of the market in many, many years.

In May of 2011, there were 548 active listings, 173 pending sales and 53 closed sales, for the 34997 zip code for Stuart, Florida.  Even with almost 150 fewer homes available for sale, closed sales almost doubled for 2012.  A very good case can be made that the market has turned in Stuart, Florida.

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

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

06.19.12 by

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

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

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

There are currently 188 active condo listings (Down 15 from last month).

31 Condo sales are pending and awaiting close or lender approval (A decrease of 21 condos from April).

26 Condos Sold in May (Unchanged from April)

The inventory continues to decline in the Stuart condo market for the area in ZIP code 34996. Sales activity was unchanged from April and pending sales were down significantly from last month. We are approaching the slower time of the year for seasonal condos and it’s not unusual to see a lower number of pending sales and probably fewer closed sales for the summer and fall for this segment of Stuart, Florida real estate.

Compared to last year in May of 2011, the numbers were 211 active listings, 38 pending sales and 22 closed sales.  Considering the inventory is approximately 20% lower than last year, the market activity is very similar and thus better when considering the reduced number of available options in the 34996 Condo market in Stuart, Florida.

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

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

the Gabe Sanders real estate team

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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
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

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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