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

04.17.12 by

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

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

There are currently 428 active listings (A decrease of 43 homes from February).

263 Residential sales are pending and awaiting close or lender approval (An increase of 21 homes from February).

61 Homes Sold in February (Up 1 homes from February)

Another positive month for the 34997 zip code area of Stuart Florida.  This segment of the martin County real estate market is just HOT!  Inventory took a huge drop again in March while pending sales also rose significantly and closed sales remained steady with a significant number of sold homes.  There is an exceptionally large number of contingent sales (pendings) that are awaiting lender approval in the form of short sales.  Hopefully, the majority of these will receive approval and close.  It is significant to note that the active inventory has decreased by over 100 homes in the past two months, representing a close to 25% drop in active listings!

Compared to March of 2011, when there were 606 active listings, 197 pending sales and 77 closed sales, the 34997 area code for Stuart, Florida continues to show great improvement with considerably improved numbers, even with less inventory available.

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

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

04.15.12 by

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

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

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

There are currently 199 active condo listings (Down 8 from last month).

58 Condo sales are pending and awaiting close or lender approval (An increase of 15 condos from February).

23 Condos Sold in March (An increase of 13 condos from February)

The inventory continues to decline in the Stuart condo market for the area in ZIP code 34996.  Sales activity remained steady with only 2 less sales compared to February and pending sales took a nice jump by 18 units.  These are very strong signs for this segment of the market.  There was a fairly good mix of both Island units as well as some of the lesser-priced senior condos on the mainland selling last month.

Compared to the end of last year in March of 2011, the numbers were 242 active listings, 34 pending sales, and 36 closed sales.  While closed sales were off from last year, the mix of sales shows a higher number of more expensive Island Condos as well as the fact that there are approximately 20% fewer units actively for sale at this time.

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

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

04.14.12 by

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

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

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

There are currently 165 active listings (Down 18 from February).

36 Residential sales are pending and awaiting close or lender approval (Up 1 from February).

22 Homes Sold in March (Up 14 from February).

The 34996 zip code area of Stuart Florida showed very strong sales activity in March.  Pending sales also remained steady and the inventory declined further in a continued positive trend for this section of the residential single family market in Stuart, Florida.  The current absorption rate is under 8 months and is only a small number away from a balanced market.  When factoring in the distressed sales, this is an impressive result for March.

Comparing the numbers to March of 2011, there were 201 active listings, 31 pending sales and 8 closed sales.  This March’s activity is considerably better than last year, especially when one considers that there were almost 25% fewer homes available for sale on the market.  Impressive results!

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

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

04.12.12 by

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

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

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

There are currently 143 active condo listings (Down by 5 condos from February).

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

15 Condos Sold in March (Unchanged from February).

The Stuart Condo market for zip code 34994 showed continued momentum in March with very similar numbers from the previous month. Of note, is the fact that the inventory continues to decline while sales and pendings remained steady.

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

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

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

04.11.12 by

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

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

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

There are currently 84 active listings (Up 6 from February).

41 Residential sales are pending and awaiting close or lender approval (Down 2 from February).

7 Homes Sold in March (Down 5 homes from February)

The 34994 ZIP code area of Stuart showed a slight easing from the fairly good numbers from February.  Inventory was up by 8%, pending and closed sales were off slightly.

Last March at this time, there were 99 active listings, 29 pending sales and 6 closed sales.  So, still better than last year at this time.

In the 34997 zip code of Stuart, Florida there is not a large inventory and many of the homes currently on the market are just not what today’s buyer is in the market looking for.  So, sales will continue to be difficult unless the home is very attractively priced.

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

Sewalls Point Market Report – Residential, March 2012

04.10.12 by

Sewalls Point Market Report – Residential, March 2012

Sewalls Point Real Estate Snapshot, Residential Sales for March 2012

There are currently 61 active listings (a decrease of 5 homes for sale from February)

12 Residential sales are pending and awaiting close or lender approval (An increase of 3 from February)

3 Homes sold in February (Unchanged from February)

Better results for the Sewalls Point market report. Inventory has gone down a little (5) to 61 homes while sales remained slow at 3 closed homes and pending sales were up slightly to 12 homes. Compared to other parts of martin County which continue to have fairly strong results, the Sewalls Point market is a bit sluggish, but showing activity is high and I suspect we should have increasing sales in the next few months. The Sewalls Point price point remains high for many of today’s buyers and this is possibly what is causing the slow activity at present.

Comparing the results to March of 2011, the inventory is basically unchanged as there were 60 homes on the market last year, pending sales were 11, and 2 homes sold.  Basically the same as last year.  The Sewalls Point average price point remains high for many of today’s buyers and this is possibly what is causing the slow activity at present.

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Sewalls Point Market Report – Residential, March 2012

Martin County Florida Condo Market Report for February 2012

03.27.12 by

Martin County Florida Condo Market Report for February 2012

Commentary:

Much like the residential segment of the Martin County real estate market, the Martin County Florida Condo Market Report for February 2012 showed modest increases for February of 2012. Sales for February were a respectable 57 units, up by 3 from February of 2011 (54 units) and also up from January which had 37 sales. On a negative note, the median sales price took a dive to $85,000.  This is most likely a reflection of the mix of condos that sold in February as opposed to a big drop in values.  More of the lower priced mainland condos were the ones that drove down the median price.

The inventory continues to decline and is now down to 640 condos, which is down from 664 units last month and from 772 condos in February of 2011.  This is the lowest inventory since November of 2005 which was prior to the ‘bubble’.  A decreased inventory will trigger an increase in demand as the supply of existing units just isn’t available increasing the urgency for buyers.

The one month absorption rate is now at 11.23 months, while the three month average is at 13.54 months.  Considerably better than the 14.3 and 15.51 months of February 2011. We still need to see the absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

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

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

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

Martin County Florida Condo Market Report for February 2012

the Gabe Sanders real estate team

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

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Martin County Florida Residential Market Report for February 2012

03.27.12 by

Martin County Florida Residential Market Report for February 2012

Commentary:

The Martin County Florida residential market report for February 2012 showed excellent results. The sales volume of 116 homes was the exact same as last year and up by 18 homes from January (98). The one month absorption rate was down to 11.85 months while the three month moving average is at 11.31 months. Activity remains high and I expect some fairly respectable numbers for the coming months.

Both average and median sales prices were up from January.  In fact, average sales prices have risen for the last two months.  Along with this trend, listing prices are also inching up, and have been rising for the past six months.  The inventory declined to 1375 residential units.  This is the lowest value since October of 2005, before the ‘bubble’.  The reduction of inventory is what is exerting strong pressure on possible price increases.  While a continuing trickle of distressed properties (short sales and foreclosures) are counteracting the upward price pressure.

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.

Residential Market Report for February 2012 in Martin County, Florida

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, February 2012

03.26.12 by

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

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

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

There are currently 32 active condo listings. (Unchanged from last January)

4 Condo sales are pending and awaiting close or lender approval. (Up 1 from January)

  1 Condo Sale closed in February (Down 4 from January)

The Hobe Sound condo market (Zip Code 33455) is a tiny segment of both Hobe Sound real estate as well as the smallest condo market on the Treasure Coast. February showed very little change from previous months, with only 1 sale closed. With such a low inventory, I don’t expect to see any great movement in this segment of the Treasure Coast Florida condo market. Last February’s numbers were 48 active listings, 12 pending sales and 3 closed sales.

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

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

03.25.12 by

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

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

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

There are currently 342 active listings. ( A decrease of 17 homes from January)

102 Residential sales are pending and awaiting close or lender approval (An increase of 22 homes from January)

31 Homes Sold in February (An increase of 11 homes from last month)

The Hobe Sound real estate market (ZIP Code 33455) had a solid February 2012.  Inventory decreased, sales and pending sales were up significantly from January.  Comparing to last February, we had 461 active listings, 100 pending sales and 24 closed sales, we are very similar to last years figures, but all this with significantly less inventory.

The Hobe Sound real estate market (zip code 33455) is off to an excellent 2012, with solid market results.

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

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

03.24.12 by

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

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

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

There are currently 68 active listings. (Down 2 from January)

21 Condo sales are pending and awaiting close or lender approval. (Up 5 condos from January)

2 Condo Sold (A decrease of 5 condos from January)

The Jensen Beach Condo market (zip code 34957) for Martin County is a fairly small segment of the market.  It maintains a good active market however with a low inventory and fairly good pending data.  Closed sales were down last month, but should be improving for the remainder of the season.  Last February there were 59 active listings, 21 pending sales and 5 closed sales. Basically unchanged over the year.

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

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

03.22.12 by

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

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

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

There are currently 155 active listings. (Down 140 homes from last month)

91 Residential sales are pending and awaiting close or lender approval. (Down 5 homes from January)

16 Homes Sold (Down 7 from January)

The Jensen Beach real estate market (ZIP Code 34957)  had a strong February and shows good potential for future sales.  I have changed the way I collect data for this zip code and am using homes only in Martin County with the 34957 zip code and excluding the saint Lucie County homes.  So, past comparisons for the next few months will be skewed as I have no way to go back and extrapolate the data from past market snapshots.

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

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

03.20.12 by

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

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

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

There are currently 71 active condo listings. (Up 3 from January)

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

5 Condos Sold in February. (Up 2 from January)

The 34990 zip code area of the Palm City condo market is a fairly small section of this area as most property in Palm City is either single-family homes or townhomes. With only 71 currently active listings, it is not a very large market. Last year at this time there were 71 active listings, 9 pending sales, and 3 closed sales as compared to this year’s 1 and 5 respectively. The condo market remains significantly more sluggish compared to the single-family residential market. We are seeing a new normal being established for this smaller segment of the Martin County real estate market.

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

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

03.19.12 by

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

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

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

There are currently 482 active listings (Increase of 8 homes from January)

176 Residential sales are pending and awaiting close or lender approval. (An increae of 15 homes from last month)

49 Homes Sold in February (Increased 17 homes from January)

For the Palm City, zip code 34990, area of Martin County Florida, another positive month in terms of closed sales and future pending sales.  Inventory crept up by a small number, but sales activity remains strong in Palm City residential real estate. Comparing these numbers to February of 2011, when there were 570 active listings, 144 pending sales and 46 homes sold, very similar numbers with a significantly smaller inventory.

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

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

03.17.12 by

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

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

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

There are currently 112 active condo listings (An decrease of 2 condos form January).

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

8 Condos Sold in June (A decrease of 5 condos from January).

Generally treading water for the Stuart condo market for the area in ZIP code 34997.  Inventory basically unchanged, pending sales were up but closed sales were off.  Last year’s numbers were 121 active listings, 24 pending sales and 3 closed sales.  It certainly appears that we are in a steady state with this level of activity for this segment and this very well may be the new normal.

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

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

03.16.12 by

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

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

There are currently 471 active listings (A decrease of 59 homes from January).

242 Residential sales are pending and awaiting close or lender approval (An increase of 37 homes from January).

60 Homes Sold in January (Up 15 homes from January)

Another positive month for the 34997 zip code area of Stuart Florida.  This segment of the martin County real estate market is just HOT!  Inventory took a huge drop last month while both pending and closed sales were up.  There is an exceptionally large number of contingent sales (pendings) that are awaiting lender approval in the form of short sales.  Hopefully, the majority of these will receive approval and close.

Compared to February of 2011, when there were 641 active listings, 207 pending sales and 36 closed sales, the 34997 area code for Stuart, Florida continues to show great improvement with considerably improved numbers, even with less inventory available.

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

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

03.14.12 by

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

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

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

There are currently 207 active condo listings (Down 18 from last month).

43 Condo sales are pending and awaiting close or lender approval (An increase of 11 condos from January).

25 Condos Sold in February (An increase of 13 condos from January)

The inventory declined fairly sharply in the Stuart condo market for the area in ZIP code 34996.  Sales activity doubled from January and pending sales increased as well.  Very strong signs for this area of the market.  There was a fairly good mix of both Island units and some of the lesser-priced senior condos on the mainland selling last month.

Compared to the end of last year in February of 2011, the numbers were 263 active listings, 46 pending sales and 26 closed sales. Other than a lower inventory of available condos, the numbers are similar to February 2011.

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

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

03.13.12 by

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

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

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

There are currently 183 active listings (Down 7 from January).

35 Residential sales are pending and awaiting close or lender approval (Up 7 from January).

8 Homes Sold in February (Up 2 from January).

The 34996 zip code area of Stuart Florida and the majority of Treasure Coast areas had a strong February market with all tracked categories moving in the right direction.

Comparing the numbers to February of 2011, there were 206 active listings, 30 pending sales and 7 closed sales.  With the inventory continuing to decline, sales levels and pending sales levels remain at or above last year’s levels.  Those properties that are attractive and priced well continue to sell, and often quite fast.

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

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

03.11.12 by

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

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

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

There are currently 148 active condo listings (Down by 6 condos from January).

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

15 Condos Sold in February (Up 4 units from January).

After a pretty slow start to 2012, the Stuart Condo market for zip code 34994 showed some life in February with all trends moving in the right direction.  Noticeable was a significant jump in pending sales. Compared to February of 2011, when there were 141 active listings, 24 pending sales, and 3 closed sales. The inventory is down from last year, but pending and closed sales remain weak in this market segment. This is increasing pressure for additional price drops unless sales can pick up in the latter part of this season.

In the next few months, the peak season for condos will show what the market can bear for 2012 for the Treasure Coast condo market.

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

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

03.10.12 by

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

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

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

There are currently 148 active listings (Down 5 from January).

43 Residential sales are pending and awaiting close or lender approval (Up 5 from January).

7 Homes Sold in February (Up 1 homes from January)

Stuart’s 34994 ZIP code area continues to show a steady improvement across the board.  Inventory decreased, and pending and closed sales were up.   With a dwindling inventory, we are rapidly approaching the point that buyers will either pay a premium if they want this location or look elsewhere.

Last February at this time, there were 99 active listings, 29 pending sales, and 6 closed sales.

With the lower number of homes on the market this year, it will be interesting to see what happens as we continue in the height of the season these months.

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