Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for June 2011

Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for June 2011

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

There are currently 528 active listings (down 20 from May).

164 Residential sales are pending and awaiting close or lender approval (down 9 from last month).

60 Homes Sold in May (Up 7 from May)

For zip code 34997 in Stuart Florida, June sales were up by 7 homes while pending sales were off signifying a coming slower market for the summer and fall months, which is the typical seasonal pattern for the Treasure Coast real estate market.  The inventory continues to decline and we are back to 2005 levels which was prior to the big market slowdown.  When the supply of existing homes for sale decreases enough to equal the demand, we will then be back to a balanced (or normal) real estate market which will result in a slow increase of values once again as prices will start to once again rise.

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Market Report: Stuart Point, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for June 2011

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Condominium Market Report for June 2011 in Martin County, Florida

Condominium Market Report for June 2011 in Martin County, Florida

We’re beginning to see a fairly typical slowdown of condo sales for the summer months, as generally condo sales in Martin County tend to be seasonal on average.  Prices are still decreasing in most segments, but at a very gradual pace and we expect it to firm up a bit.  The big unknown is the number of distressed condos that may come on the market next season as well as pent-up seller demand that may increase inventory.  If inventory increases, expect prices to continue decline.

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Condominium Market Report for June 2011 in Martin County, Florida

Residential Market Report for June 2011 in Martin County, Florida

Residential Market Report for June 2011 in Martin County, Florida

Fairly strong market activity report for June 2011 in Martin County, Florida.  Only a small decrease in volume from last year when there was a skewed increase in activity from the first-time home buyers tax credit.  Interesting to note, average sale prices have increased for the county.  Some of this result is from some higher-priced homes beginning to sell and not necessarily an increase in value for existing resales.  However, prices seem to have leveled off in certain market segments.

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Residential Market Report for June 2011 in Martin County, Florida

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34996, Condo Sales for June 2011

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34996, Condo Sales for June 2011

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

There are currently 203 active condo listings (down 8 from last month).

21 Condo sales are pending and awaiting close or lender approval (down 17 from May).

30 Condos Sold in June (Up 8 units from last month)

The condo market for zip code 34996 in Stuart saw an increase in closed sales while pending sales showed a marked decline.  Not unusual as the summer season tends to be slow for condo sales, which are mostly seasonal homes for our residents from the north.  Inventory continues to decrease, which is a good sign.  Once the supply becomes more in balance with the demand, prices will stop declining and will once again begin to rise.  Interestingly enough, quite a few higher-end condos were sold last month.

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34996, Condo Sales for June 2011

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

Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34996, Residential Sales for June 2011

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

There are currently 167 active listings (down 13 from last month).

33 Residential sales are pending and awaiting close or lender approval (up 2 from May).

6 Homes Sold in May (down 2 from May).

For the second month in a row, sales of existing single-family homes dropped slightly in the 34996 zip code area of Stuart Florida.  Other market statistics are a bit more hopeful as the inventory is down again and pending sales also had a rise.  Considering the poor economic news during the month of June, this is not a bad result.  The market is ready for a turnaround when the economy can start its recovery.

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Market Report: Stuart Point, Florida Real Estate Snapshot for Zip Code 34996, Residential Sales for June 2011

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34994, Condo Sales for June 2011

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34994, Condo Sales for June 2011

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

There are currently 148 active condo listings (Down 6 from last month).

44 Condo sales are pending and awaiting close or lender approval. (an increase of 8 from May)

10 Condos Sold in June (down 3 units from last month).

After a fairly disappointing May, June has some positive statistics for the condo market in the 34994 zip code area for Stuart Florida.  While sales were off by 3 units, the inventory further declined by another 6 condos and the pending sales rose by 8 units.  Fairly strong numbers during a month with some very poor economic news that have kept many seasonal and second home buyers on the sidelines worried about the future.

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34994, Condo Sales for June 2011

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Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34994, Residential Sales for June 2011

Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34994, Residential Sales for June 2011

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

There are currently 79 active listings (Down 10 from May).

36 Residential sales are pending and awaiting close or lender approval (up 5 from last month).

10 Homes Sold in June (up 1 from May)

Residential market activity for the 34994 zip code area of Stuart Florida was strong for June 2011.  Sales were up by one unit to 10, but more importantly over a 10% decrease in inventory as well as a solid increase to 36 pending sales.  All this during a month of fairly bad economic news with a lot of uncertainty as to the future economic conditions of the area.  As the inventory declines, and fewer homes are available, eventually, pressure for increased prices will come.

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Market Report: Stuart Point, Florida Real Estate Snapshot for Zip Code 34994, Residential Sales for June 2011

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Market Report: Sewalls Point, Florida Real Estate Snapshot, Residential Sales for June 2011

Market Report: Sewalls Point, Florida Real Estate Snapshot, Residential Sales for June 2011

For June 2011 in Sewalls Point, Florida :

There are currently 52 active listings (a reduction of 6 homes for sale from May)

15 Residential sales are pending and awaiting close or lender approval (Up 5 from May)

In June of 2011, no homes were sold in Sewalls Point.  This unfortunate statistic is replaced by some positives as pending sales increased to 15 (by 5 from May) and the inventory has decreased by 6 to 52 active listings.  Summer sales are sluggish along with some major uncertainty for the economy that has many potential buyers waiting on the sidelines for some positive news to allay their fears.

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Market Report: Sewalls Point, Florida Real Estate Snapshot, Residential Sales for June 2011

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Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Condo Sales for May 2011

Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Condo Sales for May 2011

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

There are currently 40 active condo listings. (Up 1 from last month)

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

There was 1 sale. (A decrease of two condos from last month)

The Hobe Sound Condo market was pretty slow for May with only 1 sale.  Pending sales were also off and a slight increase in inventory. Its a pretty weak market for this segment of real estate as the consumers are waiting for some definitive good news on the economy.

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Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Condo Sales for May 2011

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Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Residential Sales for May 2011

Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Residential Sales for May 2011

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

There are currently 379 active listings. ( down 30 from April)

93 Residential sales are pending and awaiting close or lender approval (up 4 from last month)

30 Homes Sold in May (down 17 from April)

Continuing decrease in inventory was the most positive sign for the Hobe Sound residential real estate market (zip code 33455) for May.  Sales dropped significantly last month, while those homes awaiting sales were up slightly.  Lots of uncertainty in the market at present as all eyes are on the economy.

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Market Report: Hobe Sound Florida Real Estate Snapshot for Zip Code 33455, Residential Sales for May 2011

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Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34957, Condo Sales for May 2011

Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34957, Condo Sales for May 2011

For May 2011 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :

There are currently 55 active listings. (Down 6 from last month)

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

7 Condos Sold (Up 1 from last month)

For the Jensen Beach, Florida condo market, May was basically unchanged from the month before as sales were up by one while pending sales were off by 1.  Notably, the inventory continues to decrease.  All eyes are currently watching the economy for some signs of improvement.

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Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for May 2011

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Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34957, Residential Sales for May 2011

Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34957, Residential Sales for May 2011

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

There are currently 165 active listings. (A decrease of 16 from last month)

71 Residential sales are pending and awaiting close or lender approval. (down 4 from April)

23 Homes Sold (down 2 from last month)

Mixed results for the Jensen Beach Florida residential real estate market (zip code 34957) for May. Both sales and pending sales were off a little, however, the inventory continues to decline, making fewer homes available for sale.  This should eventually push demand higher once prospective buyers feel a little more comfortable with the economy and the lenders become a little more reasonable.

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Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for May 2011

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for May 2011

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for May 2011

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

There are currently 111 active condo listings (down 13 from last month).

30 Condo sales are pending and awaiting close or lender approval (up 7 from April).

8 Condos Sold in April (down 1 unit from last month).

Condo Sales in the 34997 area of Stuart Florida were down by just one sale while inventory continues to shrink and pending sales also rose.  While mostly a positive sign, this also shows that a large number of pending sales are distressed properties, which have a large negative effect on pricing.  Overall the trend is fairly positive, especially when compared to other segments of the martin County real estate market.

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for May 2011

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Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for May 2011

Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for May 2011

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

There are currently 548 active listings (down 12 from April).

173 Residential sales are pending and awaiting close or lender approval (down 22 from last month).

53 Homes Sold in April (down 2 from April)

For zip code 34997 in Stuart Florida, May sales decreased slightly, also pending sales were off.  The inventory continues to decline.  We’re seeing some very mixed signals this month from the housing market.  It appears that most are very concerned about the economy and employment figures.

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Market Report: Stuart Point, Florida Real Estate Snapshot for Zip Code 34997, Residential Sales for May 2011

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34994, Condo Sales for May 2011

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34994, Condo Sales for May 2011

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

There are currently 154 active condo listings (up 6 from last month).

36 Condo sales are pending and awaiting close or lender approval. (a decrease of 3 from April)

13 Condos Sold in May (down 13 units from last month).

A disappointing month for the 34994 zip code portion of Stuart Florida for condo sales.  Inventory rose for the second month in a row.  Both closed and pending sales were also off.  Unfortunately not a good sign for the health of this segment of the market.

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34994, Condo Sales for May 2011

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Condominium Market Report for May 2011 in Martin County, Florida

Condominium Market Report for May 2011 in Martin County, Florida

The Martin County market activity in the condo real estate segment of the market remains fairly positive as to numbers.  Sales were just about unchanged from last year (up 1 unit), which was artificially inflated by the government’s first-time buyers assistance program.  Inventory levels dropped again and continues a positive trend.  Less inventory means less supply.  If demand picks up at all in the near future, this will signal the start of rising prices.  Unfortunately, at present, prices are still falling, though not nearly as severely as in the past few years.  One month absorption rate is at 12 months, a good improvement from last year’s 15 months.

Condominium Market Report for May 2011 in Martin County, Florida

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Residential Market Report for May 2011 in Martin County, Florida

Residential Market Report for May 2011 in Martin County, Florida

The May results for the Martin County residential real estate market show fairly strong results with a continuing decrease in inventory and sales that almost match last year’s results without the benefit of the government’s first-time buyers assistance program.  The one-month (non-averaged) absorption rate is below 10 months which is better than in the past 4 years.  We would like to see an absorption rate in the 5 to 7 month range which is an indicator of a balanced market. Median prices are significantly lower than last year.  The average sales price is a little less off.  The average price trend line showed a drop in May after a few months of increases.  Summer is now here, and typically market activity slows a bit as the seasonal buyers have gone north for the summer.

Residential Market Report for May 2010 in Martin County, Florida

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Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34994, Residential Sales for May 2011

Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34994, Residential Sales for May 2011

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

There are currently 89 active listings (Up 1 from April).

31 Residential sales are pending and awaiting close or lender approval (up 3 from last month).

9 Homes Sold in May (up 1 from April)

Inventory rose by only 1 unit in Stuart’s 34994 zip code area for May.  Pending sales remained strong (up by 3) and a small increase in closed sales for May were mostly positive signs for continued growth in this segment of Martin County’s real estate market.

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Market Report: Stuart Point, Florida Real Estate Snapshot for Zip Code 34994, Residential Sales for May 2011

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34996, Condo Sales for May 2011

Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34996, Condo Sales for May 2011

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

There are currently 211 active condo listings (down 31 from last month).

38 Condo sales are pending and awaiting close or lender approval (up 4 from April).

22 Condos Sold in May (down 14 units from last month)

Sales were off for may in the Stuart 34996 zip code for condos. However, pending sales remain very positive and the inventory continues to decline.

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Market Report: Stuart Florida Real Estate Snapshot for Zip Code 34996, Condo Sales for May 2011

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Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34996, Residential Sales for May 2011

Market Report: Stuart, Florida Real Estate Snapshot for Zip Code 34996, Residential Sales for May 2011

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

There are currently 183 active listings (down 6 from last month).

31 Residential sales are pending and awaiting close or lender approval (up 4 from April).

8 Homes Sold in April (down 3 from April).

Sales were off slightly for the residential Stuart Florida real estate market activity for zip code 34996. The good news is that the inventory continues to decline and the pending sales also remained strong.

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Market Report: Stuart Point, Florida Real Estate Snapshot for Zip Code 34996, Residential Sales for May 2011

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