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

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

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

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

 

There are currently 79 active listings (Down 5 from March).

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40 Residential sales are pending and awaiting close or lender approval (Down 1 from March).

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5 Homes Sold in April (Down 2 homes from March)

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The 34994 ZIP code area of the Stuart, Florida real estate market remained largely unchanged from march.  With a continuing decrease in inventory, finding good quality homes is becoming more of a challenge for any ready willing and able buyers.

Last April at this time, there were 88 active listings, 28 pending sales and 8 closed sales.  Slightly off from last years numbers.

 

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

Sewalls Point Market Report – Residential, April 2012

Sewalls Point Market Report – Residential, April 2012

Sewalls Point Real Estate Snapshot, Residential Sales for April 2012

There are currently 63 active listings (an increase of 2 homes for sale from March)

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19 Residential sales are pending and awaiting close or lender approval (An increase of 5 from March)

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2 Homes sold in March (Down 1 from March)

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The market remains slow for the Sewalls Point real estate area of Martin County, Florida.  The one bright note is a fairly large increase in pending sales.  This will hopefully translate into some healthier numbers of closed sales in the near future.  Both closed sales and inventory remain basically unchanged from last month.

Comparing the results to April of 2011, the inventory is basically unchanged as there were 60 homes on the market last year, pending sales were 12, and 5 homes sold. Closed sales were higher last year.  We should see closed sales for the near future catch up with last years figures as the higher number of this years pending sales close.

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

 

Sewalls Point, FL Real Estate

Rental Properties

Vacant Land Properties

Residential Properties

 

Sewalls Point Market Report – Residential, April 2012

Martin County Florida Condo Market Report for March 2012

Martin County Florida Condo Market Report for March 2012

 

Commentary:

Unlike the residential segment of the Martin County real estate market, the Martin County Florida Condo Market Report for March 2012 showed modest increases for March of 2012 rather than the explosive growth in the single family segment of the Martin County real estate market.  Sales for March were a respectable 64 units, 19 units less than March of 2011 (83 units)  but higher than February’s 57 units. On a positive note, the median sales price rose to $103,500 from an anemic $85,000 last month.

The inventory rose slightly to 651 condos, which is up from 640 units last month and down from the 721 condos that were on the market in March of 2011.  The one month absorption rate is now at 10.2 months, while the three month average is at 12.4 months.  It remains a challenging market for condos in Martin County. We 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.

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The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for March 2012

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 about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate or Treasure Coast FL Homes

Martin County Florida Residential Market Report for March 2012

Martin County Florida Residential Market Report for March 2012

 

Commentary:

The Martin County Florida residential market report for March 2012 showed very strong results. The sales volume of 198 homes was 11 homes more than last year and up by 82 homes from January (116). The one month absorption rate was down to 6.5 months while the three month moving average is now at 9.9 months. The one month absorption rate is now indicating a balanced market and as some other markets are reporting around the nation, we are hovering on a possibility of once again being in a ‘seller’s markt’. Activity remains high and I expect some fairly respectable numbers for the coming months.

Both average and median sales prices were down slightly from February.  The first decline in the past two months.  This is more a reflection of the mix of homes selling for this month rather than an indication of lower values (More lower priced homes selling).  However the spectre of an increased number of distressed properties being released by the banks remains and should a large number of foreclosures come on the market, this will further depress prices at worst, 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.

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The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Residential Market Report for March 2012

the Gabe Sanders real estate team

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

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate or Treasure Coast FL Homes

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

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

 

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

 

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

 

 

There are currently 38 active condo listings. (Up 6 from February)

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7 Condo sales are pending and awaiting close or lender approval. (Up 3 from February)

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  5 Condos sold in March (Up 4 from February)

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The Hobe Sound condo market (Zip Code 33455) is a very small segment of both Hobe Sound real estate as well as the smallest condo market in Martin County. March showed some improvement from previous months, with an increase to 5 closed sales.  Inventory gre a little but 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 March’s numbers were 37 active listings, 9 pending sales and 5 closed sales. Almost identical to this year’s numbers.



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