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

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

 

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

 

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

There are currently 330 active listings. ( An increase of 14 homes from November)

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58 Residential sales are pending and awaiting close or lender approval (A decrease of 13 homes from November)

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28 Homes Sold in December (An increase of 13 homes from last month)

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 Along with most of Martin County, the Hobe Sound real estate market (ZIP Code 33455) had increasing inventory and decreasing pending sales from last month. Closed sales were the bright note, as 28 homes were sold in December, an increase of 13 homes from November.
Comparing to last December, we had 374 active listings, 47 pending sales and 28 closed sales.  Closed sales were equal to last year, with about 10% less active inventory and pending sales were lower as well.

Provided we don’t see a drastic increase in distressed properties (short sales and bank owned foreclosures), we should be in line for a good performance from the Hobe Sound real estate market in 2012.

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

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

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

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

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



There are currently 65 active condo listings. (Up 5 from November)

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

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1 Condos Sold in December. (Unchanged from November)

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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. With only 65 currently active listings, it is not a very large market.  Last year at this time there were 78 active listings, and the market was more active with 5 pending sales and 6 closed sales as compared to this years anemic 3 and 1 respectively. The condo market overall remains significantly more sluggish as compared to the single family residential market.
Speculating on the reasons for this could be the current low prices of single family units. The difficulty of obtaining financing for condos in this lending environment and the nervousness regarding the economy and future being felt by the more senior set that tend to go for the condo type of housing. Condo sales tend to be more active after the holidays and we will hopefully see an increase in activity following the holiday season.

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

Martin County Florida Condo Market Report for December 2011

Martin County Florida Condo Market Report for December 2011

 

Commentary:

After a small retreat in November, the Martin County Florida condo market report for December 2011 posted some solid numbers.  Sales for December were up to 52 units, down from December of 2010 of 54 units but better than November’s anemic 35.  Both median and average sales prices were up, but this is not an indication of rising prices, unfortunately, rather the mix of condos that sold in December.  Currently some of the more moderate priced condos are selling, which is driving these averages up.

The inventory is now down to 673 condos, which is down from 676 last month and from 780 in December of 2010.  A decreased inventory generally will trigger an increase in demand as the supply of existing units just isn’t available increasing the urgency for buyers.

Unfortunately the absorption rate remains troubling on the higher end, with December’s one month value of 13 months and the three month moving average of 14.3 months.  We need to get 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

Condo Market Report for December 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 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 December 2011

Martin County Florida Residential Market Report for December 2011

 

Commentary:

The Martin County Florida residential market report for December 2011 ends the year on a very positive note.  Sales volume (160 units) was up as compared to both last year (148) and last month (135).  The one month absorption rate is down to just under 9 months.  This is the best value for a December time period since the current housing difficulties started.

Average sales price was down slightly from last year, while the median is up by a little.  Basically, for the market as a whole, it appears that prices have stabilized. Listing prices for december were up (both average and median) as sellers fel that the market has strengthened and are trying to get the best possible value for their homes.  It remains to be seen if they will be successful.   This was another month of increasing inventory as we are up to 1426 homes available compared to 1364 in November, but still better than the 1800 home inventory we had in December of 2010, and considerably down from the peak of 2980 homes in March of 2007.

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, 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

Residential Market Report for December 2011 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

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

Stuart Florida Real Estate or Treasure Coast FL Homes

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

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

 

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

 

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


There are currently 478 active listings (Increased by 10 homes from November)

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114 Residential sales are pending and awaiting close or lender approval. (A decrease of 30 homes from last month)

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57 Homes Sold in December (An increase of 21 homes sold from November)

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For the Palm City, zip code 34990, area of Martin County Florida, it was a strong month for closed sales.  Unfortunately, it was also the second month of increasing inventory (active listings) and also a decrease in pending sales for the future.  Comparing these numbers to December of 2010, when there were 577 active listings, 110 pending sales and 45 homes sold, we are in a better position in all categories.  With the height of the snow bird season coming, we should see some increase in activity.  The Palm City market, however, is not as seasonally influenced as our more coastal areas as this market is heavily influenced by family areas that tend not to be as seasonal, with an increase in activity normally more towards the spring and summer seasons.

 

Search here for Palm City Florida Real Estate for Sale

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

 

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