Palm City Florida Market Report ZIP Code 34990 – Residential, November 2011

12.14.11 by

Palm City Florida Market Report ZIP Code 34990 – Residential, November 2011

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for November 2011

For November 2011 in the 34990 Zip Code area of Palm City Florida :

There are currently 468 active listings (Increased 11 homes from October)

144 Residential sales are pending and awaiting close or lender approval. (Increased 6 from last month)

36 Homes Sold in November (A decrease of 5 homes from October)

For the Palm City, zip code 34990, area of Martin County Florida, we had a second month of increasing inventory, although modest in number.  Also an increase in pending sales, but unfortunately a decrease in closed sales.  Comparing the numbers to November of 2010 when there were 608 active listings, 121 pending sales and 40 closed sales, there is significantly less inventory this year, with sales close to equal of last year as well as a higher number of pending sales.  Of the closed sales in the past few months, there are a significantly higher number of homes in the medium to upper price ranges as compared to the past few years, showing a renewed interest in the medium and upper end of the market.

Provided the numbers for distressed homes don’t increase in 2012, we should see continued growth and good activity in the Palm City, Florida real estate market.

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Palm City Florida Market Report ZIP Code 34990 – Residential, November 2011

Stuart Florida Market Report ZIP Code 34996 – Residential, November 2011

12.13.11 by

Stuart Florida Market Report ZIP Code 34996 – Residential, November 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for November 2011

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

There are currently 173 active listings (Up 12 from October).

28 Residential sales are pending and awaiting close or lender approval (Down 7 from October).

14 Homes Sold in November (Up 9 from October).

The 34996 zip code area pf Stuart Florida had a much better November compared to October up to 14 homes from a low of 5 in October.   Inventory also rose by 12 homes and pending sales were off, possibly reflecting a slowdown of activity during the holiday season.  Buyer traffic is remaining strong as many realize that it is an excellent market for home affordability on Florida’s Treasure Coast.

The numbers for November of 2010 were 210 active listings, 29 pending sales and 5 closed sales.  Sales have almost tripled with less inventory available.  An excellent sign for market recovery which we believe is well underway.  Depending on the status of distressed homes (short sales and bank-owned properties), we wouldn’t be surprised to see prices start to inch up in the near future.

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Stuart Florida Market Report ZIP Code 34996 – Residential, November 2011

Stuart Florida Market Report ZIP Code 34994 – Residential, November 2011

12.12.11 by

Stuart Florida Market Report ZIP Code 34994 – Residential, November 2011

Stuart Real Estate Snapshot for ZIP Code 3499, Residential Sales for November 2011

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

There are currently 79 active listings (Up 2 from October).

32 Residential sales are pending and awaiting close or lender approval (Down 4 from October).

11 Homes Sold in November (Up 2 from October)

The 34994 ZIP code area of Stuart had a relatively unchanged market from last month.  With inventory up slightly by two homes, pending sales off by 4 and closed sales up by 2.  Comparing the activity to November of 2010 when there were 119 active listings with 32 pending sales and 2 closed sales.   A significantly higher number of sales were completed this year compared to last year even though there were fewer available homes.

With the lower inventory this year, it will be interesting to see what happens as we get into the height of the season in the next few months.

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Stuart Florida Market Report ZIP Code 34994 – Residential, November 2011

Stuart Florida Market Report ZIP Code 34997 – Residential, November 2011

12.10.11 by

Stuart Florida Market Report ZIP Code 34997 – Residential, November 2011

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for November 2011

There are currently 527 active listings (an increase of 8 from October).

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

42 Homes Sold in October (Down 5 from October)

Compared to October, the 34997 zip code area of Stuart Florida saw movement in the wrong direction, with inventory up for the second month in a row and both pending sales and closed sales off as well.   Of more interest, compared to November of 2010, inventory is up by about 100 homes, but sales are more than double and pending sales are almost triple last year’s numbers.

So, it appears that we are seeing a seasonal slowing of the market for the holiday season, but numbers are still dramatically higher than last year’s figures.  This is showing great promise for the year ahead.  For those waiting for prices to come back to pre-bubble values, we just don’t believe it will happen any time soon.  Housing is currently at historically affordable levels and those that can afford or qualify are making their moves.  At one point in the future, these low-interest rates are bound to go up making homes less affordable

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Stuart Florida Market Report ZIP Code 34997 – Residential, November 2011

Sewalls Point Market Report – Residential, November 2011

12.09.11 by

Sewalls Point Market Report – Residential, November 2011

Sewalls Point Real Estate Snapshot, Residential Sales for November 2011

There are currently 49 active listings (an increase of 6 homes for sale from October)

13 Residential sales are pending and awaiting close or lender approval (Down 1 from October)

3 Homes sold in November (Up 2 from October)

In November of 2011, e saw a slight increase in sales from October in the Sewalls Point, Florida real estate market.  Of note is that two of these sales were in the higher price ranges of just under $900,000 for a nonwaterfront home and above $1,200,000 for an older waterfront home.  Inventory crept up a little from last month while pending sales remain virtually unchanged (down 1).

Interestingly the active and pending numbers are almost identical to last November, but sales are up as has been the trend for most of this year.  If sales continue at the pace of last year, we may very well find a significant decrease in inventory as well as a lack of well-priced homes on Sewalls Point.  In our experience with this market, it will be difficult to convince buyers to pay a large premium for the privilege of living in this desirable neighborhood, so we may see some slowdown if the inventory doesn’t keep pace.

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Sewalls Point Market Report – Residential, November 2011

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, October 2011

11.30.11 by

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, October 2011

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for October 2011

For October 2011 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 42 active condo listings. (Up 4 from last September)

3 Condo sales are pending and awaiting close or lender approval. (Down 3 from September)

2 Condos sold in October (Up from 0 sales in September)

The Hobe Sound condo market (Zip Code 33455) is a very small segment of both Hobe Sound real estate as well as the condo market on the Treasure Coast.  While inventory increased in October, it is still fairly low, but demand is also slack in this part of the local condo market.  With demand being so low, and high inventories in the surrounding areas, we don’t see any appreciable pressure on prices to rise in the coming months.  Should activity increase significantly in the neighboring activities, we then will predict some rising values for the Hobe Sound condo market.

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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, October 2011

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, October 2011

11.29.11 by

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, October 2011

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for October 2011

For October 2011 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 328 active listings. ( Down 20 from September)

59 Residential sales are pending and awaiting close or lender approval (Up 11 from September)

30 Homes Sold in October (An increase of 9 homes from last month)

The Hobe Sound real estate market (ZIP Code 33455) had a surprisingly strong October.  After a disappointing September, all of our indexes moved in a positive direction for a strong market.

Inventory decreased, homes under contract increased and closed sales showed an increase as well.  We are expecting a bit of a slowdown as we enter the holiday season, but time will tell, as the October Hobe Sound results were a bit of a surprise.

This will be an interesting season to watch!

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Hobe Sound Florida Market Report ZIP Code 33455 – Residential, October 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, October 2011

11.28.11 by

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, October 2011

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for October 2011

For October 2011 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :
(Due to technical difficulties the September Market Snapshot data was unavailable)

There are currently 60 active listings. (Up 5 from September)

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

1 Condo Sold (A decrease of 7 condos from September)

Very disappointing results for the Jensen Beach condo market report (ZIP Code 34957).  Only 1 closed sale, a decrease in pending activity as well as an increase in supply (active listings).   Typically we are now in the slow season for this segment of the Martin County real estate market.  We may see some more rise in inventory before the activity starts to pick up, typically in the new year.  We think that the secondary vacation market for condos is currently very dependent on consumer confidence and should do well if the economy picks up.

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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, October 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, October 2011

11.27.11 by

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, October 2011

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for October 2011

For October 2011 in the 34957 Zip Code area of Jensen Beach, Florida :

There are currently 146 active listings. (A decrease of 7 from last month)

84 Residential sales are pending and awaiting close or lender approval. (An increase of 4 homes from September)

6 Homes Sold (Down 13 from September)

The Jensen Beach real estate market (ZIP Code 34957) had disappointing closed sales numbers for October.  However, inventory declined and pending sales (homes under contract but not yet closed) were up.  This is showing a fairly stable market for this time of year.  As we head into the holiday season, numbers should remain modest as activity tends to decrease at this time of the year.  We should see a gradual increase beginning in January.

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Jensen Beach Florida Real Estate presented by:
the Gabe Sanders real estate team

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, October 2011

Palm City Florida Market Report ZIP Code 34990 – Condo, October 2011

11.26.11 by

Palm City Florida Market Report ZIP Code 34990 – Condo, October 2011

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for October 2011

For October 2011 in the 34990 Zip Code area of Palm City, Florida :

There are currently 59 active condo listings. (Down 2 from September)

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

2 Condos Sold in October. (An increase of 1 condo from September)

Unlike the rest of Martin County, the Palm City condo market report (ZIP Code 34990) had a decrease in inventory from last month.  Unfortunately, pending sales are very slow as well as closed or completed sales.  The Palm City condo market is slightly different from the rest of the county as the mix tends to favor more year-round residents and is less prone to the seasonal inventory increase we typically experience during the holiday season.

As long as the inventory doesn’t increase appreciably this should be a good winter for Palm City condo sales, though prices will not see an increase as of yet due to competition from the neighboring areas as well as the number of distressed sales on the market. Should the inventory increase, pricing pressure may lead to some continued decreases.

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Palm City Florida Real Estate presented by:
the Gabe Sanders real estate team

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Our market reports are here!

Palm City Florida Market Report ZIP Code 34990 – Condo, October 2011

Palm City Florida Market Report ZIP Code 34990 – Residential, October 2011

11.25.11 by

Palm City Florida Market Report ZIP Code 34990 – Residential, October 2011

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for October 2011

For October 2011 in the 34990 Zip Code area of Palm City Florida :

There are currently 468 active listings (A decrease of 14 homes from September)

138 Residential sales are pending and awaiting close or lender approval. (Increased 14 from last month)

41 Homes Sold in October (A decrease of 8 homes from September)

Other than closed sales, which were off by8 homes for October, the other trends were positive for Palm City (zip code 34990).  A decrease of inventory will make homes a bit more scarce and with the decrease in supply, prices should remain more stable than in previous months.  An increase in pending sales should mean more closed sales for the coming months.  With the holiday season coming up, we expect a decrease in activity for the season, following a gradual increase as we move into January.

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Palm City Florida Real Estate presented by:
the Gabe Sanders real estate team

Palm City Florida Market Report ZIP Code 34990 – Residential, October 2011

Stuart Florida Market Report ZIP Code 34996 – Condo, October 2011

11.24.11 by

Stuart Florida Market Report ZIP Code 34996 – Condo, October 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for October 2011

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

There are currently 213 active condo listings (Up 25 from last month).

24 Condo sales are pending and awaiting close or lender approval (A decrease of 3 from September).

17 Condos Sold in October (A decrease of 1 condo from September)

The Stuart condo market for the area in ZIP code 34996 had a fairly significant increase in inventory in October.  This with small decreases in closed and pending sales.  Typical seasonal slowdown as we get into the holiday months.  The large increase in inventory is troubling for sellers as this may have significant downward pressure on prices for the coming winter season if this trend continues.

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Stuart Florida Real Estate presented by:
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Stuart Florida Market Report ZIP Code 34996 – Condo, October 2011

Stuart Florida Market Report ZIP Code 34996 – Residential, October 2011

11.23.11 by

Stuart Florida Market Report ZIP Code 34996 – Residential, October 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for October 2011

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

There are currently 161 active listings (Down 16 from September).

35 Residential sales are pending and awaiting close or lender approval (Up 12 from September).

5 Homes Sold in October (Down 7 from September).

Bucking the trend for the rest of Stuart, the 34996 zip code area had fairly positive results for October 2011, with an increase in pending sales and a decrease in inventory. The only negative was a decrease in closed sales in October.  With lower inventory levels and increased pending sales, we should see some pressure on prices to remain stable for the next few months, provided we don’t have any increase in distressed sales (short sales and foreclosures).

We are rapidly approaching the holiday season.  Normally activity does slow down during this period.

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Stuart Florida Real Estate presented by:
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Stuart Florida Market Report ZIP Code 34996 – Residential, October 2011

Stuart Florida Market Report ZIP Code 34997 – Condo, October 2011

11.22.11 by

Stuart Florida Market Report ZIP Code 34997 – Condo, October 2011

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for October 2011

For October 2011 in the 34997 Zip Code area of Stuart, Florida :

There are currently 120 active condo listings (An increase of 8 units from September).

13 Condo sales are pending and awaiting close or lender approval (Down 3 from September).

10 Condos Sold in June (Up 6 from September).

The Stuart condo market for the area in ZIP code 34997 had a very weak September, so an increase in closed sales was welcome in October.  Unfortunately along with the increase in closed sales, there has also been an increase in inventory (also true for all other areas in Martin County) as we head into the holiday season.  Typically we see a fairly slow couple of months with activity starting to pick back up in January. 

Sellers should hope that the inventory doesn’t pick up by too much as this will have a negative influence on sales prices.

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for October 2011

Martin County Florida Condo Market Report for October 2011

11.21.11 by

Martin County Florida Condo Market Report for October 2011

Commentary:

The Martin County Florida condo market report for October 2011 showed surprisingly high activity from both last month as well as last year.  Sales were up by 40% from last year and 20% from September.  The only negative is the vast majority of these sales were for lower-priced units throughout Martin County.  The inventory was down by close to 20% from last year, but up slightly from last month.  Many condo sellers feel that the holiday season starts the great migration of buyers from the north and is a better time to market their property.  (Not necessarily so, as evidenced by last month’s sales numbers.)

The big uncertainty remains, which 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.

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

Condo Market Report for October 2011 in Martin County, Florida

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, visit our website or call us at (772) 888-2885.
Our market reports are here!

Martin County Florida Residential Market Report for October 2011

11.20.11 by

Martin County Florida Residential Market Report for October 2011

Commentary:

The Martin County Florida residential market report for October 2011 shows some good strength when considering the season.  Sales were off only by 3 homes for a total of 113, almost identical to last year’s 114 single-family sales.  Surprisingly inventory was down by 6 homes from last month (which had a slight rise from August), and off by more than 450 homes since October of 2010 ( or by close to 30%)

The average sales price was up from last year, but down significantly from September.  This doesn’t necessarily reflect a decrease or increase in existing home prices, but more the mix of homes that sold in October.  As in previous tears, late fall sales tend to be of lower-priced homes.   This difference is much more tempered when looking at median prices as opposed to averages.  We will not be surprised to see inventory rising some in the next couple of months as well as having some soft sales volume as we enter the holiday season.  But, with inventory down, for now, rates very low, we may find the market outperforming expectations.

Our outlook for Martin County remains cautiously optimistic as prices and rates remain at historic low levels.  For sellers, homes are selling, and if priced and presented optimally, homes are selling fast and at or close to market value.

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

Residential Market Report for October 2011 in Martin County, Florida

Gabe Sanders

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

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Stuart Florida Market Report ZIP Code 34997 – Residential, October 2011

11.19.11 by

Stuart Florida Market Report ZIP Code 34997 – Residential, October 2011

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for October 2011

There are currently 519 active listings (an increase of 16 from September).

194 Residential sales are pending and awaiting close or lender approval (Up 13 from September).

47 Homes Sold in September (Down 13 from September)

October was a slow month for the 34997 zip code area of Stuart Florida.  Inventory increased for the second month in a row.  Sales were off also.  The only good news was an increase in pending sales.  Typically, October and the next few months have slower traffic and sales activity as many potential buyers and sellers are preoccupied with the holiday season.
It is interesting to note that those homes selling in under 90 days on the market continue to sell at 95% of the list price.  If a home is priced to market, it will sell in 90 days.

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Stuart Florida Real Estate presented by:
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Stuart Florida Market Report ZIP Code 34997 – Residential, October 2011

Stuart Florida Market Report ZIP Code 34994 – Condo, October 2011

11.18.11 by

Stuart Florida Market Report ZIP Code 34994 – Condo, October 2011

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for October 2011

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

There are currently 135 active condo listings (Up 3 from September).

31 Condo sales are pending and awaiting close or lender approval. (Down 14 from last month)

21 Condos Sold in October (Up 3 units from September).

The Stuart condo market for the area in ZIP code 34994 had slow October activity as the seasonal condo market does not begin till after the upcoming holidays.  Sales were up by 3 units, but pending sales were off considerably and a small rise in existing inventory.  Typically, inventory should rise as many sellers will try to time the market for the coming season.  Unfortunately, this will continue to exert price pressure on existing sales as the law of supply and demand states that an increase in inventory will dilute demand and put pressure on prices to drop further. 

Should we have some positive economic news, we may see a strong winter season for sales, it will be interesting to see what happens!

Search here for Stuart Florida Real Estate for Sale ( Condos)

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Stuart Florida Real Estate presented by:
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Stuart Florida Market Report ZIP Code 34994 – Condo, October 2011

Stuart Florida Market Report ZIP Code 34994 – Residential, October 2011

11.17.11 by

Stuart Florida Market Report ZIP Code 34994 – Residential, October 2011

Stuart Real Estate Snapshot for ZIP Code 3499, Residential Sales for October 2011

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

There are currently 77 active listings (Up 6 from September).

36 Residential sales are pending and awaiting close or lender approval (Unchanged from September).

9 Homes Sold in October (Up 2 from September)

The 34994 ZIP code area of Stuart continues to do well, especially as compared to the surrounding areas.  While inventory was up by seven homes last month, pending sales remain strong and closed sales were up.  Considering that this is typically a slow time for our area, these are strong results.

We’re not expecting any large changes for the holiday season, possibly some easing of the market.  May have a surprisingly strong new year coming up if the economy will let it happen.

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Our market reports are here!

Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

Stuart Florida Market Report ZIP Code 34994 – Residential, October 2011

Sewalls Point Market Report – Residential, October 2011

11.15.11 by

Sewalls Point Market Report – Residential, October 2011

Sewalls Point Real Estate Snapshot, Residential Sales for October 2011

There are currently 43 active listings (a decrease of 10 homes for sale from September)

14 Residential sales are pending and awaiting close or lender approval (Up 5 from September)

Only 1 Home sold in October (Down 3 from September)

In October of 2011, only 1 home was sold in Sewalls Point, Florida.  This home was a waterfront home on North Sewalls Point and sold for 94% of the listing price.  Buyers were represented by our office.  The inventory for Sewalls Point declined for October as we had an increase in pending sales to 14 homes and a number of sellers have allowed their homes to go off the market.

Lower inventory and hope for more future sales is a good signs as we enter the winter season and next year.  As the holidays approach we may have some softening of the market as both buyers and sellers tend to be more occupied with family and the distractions of the season.

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Sewalls Point Florida Real Estate presented by:
the Gabe Sanders real estate team

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Our market reports are here!

Sewalls Point Market Report – Residential, October 2011