August 2013 Monthly Market Detail Martin County Single Family Homes

Positive reports for the August 2013 Monthly Market Detail Martin County Single Family Homes as reported by Florida Realtors, though not quite as robust as last month. Closed sales were up by 9.1% (was 18.2% in July) and new sales under contract (new pending sales) increased by 35.2% (42.1% in July).

Both the median and average sales prices (year to year) increased this month by percentages of 17% and 29.8% respectively.

The inventory of available single family homes have decreased to 1102 units which is down by 21.1% from last August. Current supply of inventory is only 6.2 months (a 31.4% decrease from last year). We are now in a balanced market for residential sales in Martin County. There’s no reason not to expect a seller’s market should the inventory continue to decrease.

Please look at the full Martin County single family market detail by clicking on the links below:

Click here to view or download the full report:
August 2013 Monthly Market Detail Martin County Single Family Homes

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

August 2013 Monthly Market Detail Martin County Single Family Homes

August 2013 Monthly Market Detail Florida Townhouses and Condos

09.29.13 by Gabe Sanders

August 2013 Monthly Market Detail Florida Townhouses and Condos

The August 2013 Monthly Market Detail Florida Townhouses and Condos for the state of Florida continues to show gains though not as robust as they were in the spring of this year. Year to year closed sales were up by 6.3% as compared to last months increase of 16.8% and new sales under contract (new pending sales) increased by 11.6% (July’s increase was 20.7%).

Both median and average sales prices were up (year to year) by a healthy 25.2% and 18.6% respectively.

One item of concern is the active inventory which has decreased again, for August by 13.8%. The reduced inventory will eventually result in lower sales volume as there just isn’t enough homes available for sale. This will also result in strong upward pressure on prices and at some point renewed activity in new construction. If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I will expect a gradual increase in inventory.

Click on the link below or the graphic to see the full market detail report from Florida Realtors:

Click here to view or download the full report:
August 2013 Monthly Market Detail Florida Townhouses and Condos

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

August 2013 Monthly Market Detail Florida Townhouses and Condos

August 2013 Monthly Market Detail Florida Single Family Homes

09.28.13 by Gabe Sanders

August 2013 Monthly Market Detail Florida Single Family Homes

More good news for the Florida real estate market as reported by Florida Realtors for the August 2013 Monthly Market Detail Florida Single Family Homes for the entire state of Florida. All indices have once again moved in a positive direction with the exception of inventory (active listings), though not by quite as large percentages as last month. Year to year closed sales were up by 12.5% (was 20.9% in July) and new sales under contract (new pending sales) increased by 17.2% (was 25.9% in June).

Both median and average sales prices were up (August 2012 to August 2013) by 18.6% and 13.6% respectively. August results are very positive though slightly less robust than July

The inventory of available homes for sale remains a concern as it continues to decrease, down by 12.3% from last year. The reduced inventory will eventually result in lower sales volume as there just isn’t enough homes available for sale. This will also result in strong upward pressure on prices and at some point renewed activity in new construction. If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I will expect a gradual increase in inventory.

Please look at the full detail report for the rest of the story:

Click here to view or download the full report:
August 2013 Monthly Market Detail Florida Single Family Homes

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

August 2013 Monthly Market Detail Florida Single Family Homes

Hobe Sound Florida Market Report ZIP Code 33455 Condo August 2013

09.26.13 by Gabe Sanders

Hobe Sound Florida Market Report ZIP Code 33455 Condo August 2013

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for July 2013

For July 2013 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 14 active condo listings. (Down by 2 condos from July)

8 Condo sales are pending and awaiting close or lender approval. (Down by 2 condos from July)

1 Condos sold in July (Decreased by 4 condos from July)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. With an inventory of only 12 active condos it’s not surprising to see decreasing market activity in this segment of the market. All statistics within this segment should be taken with a grain of salt, as small changes in activity make for very large changes on percentages that may not indicate a true trend in the market.

The absorption rate for August jumped to 14 moths from last months sellers market of 3.2 months. Back to a strong buyer advantage for those in the Hobe Sound condo market.. Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.

The August 2012 numbers were: 26 active listings, 7 pending sales and 2 closed sales. Inventory is less than half of last year, which relates to the slower activity for August of 2013.

Please use the charts below as reference only as they rely on all residential types of property in the 33455 real estate market:

Search here for Hobe Sound Florida Real Estate for Sale ( Condos)

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Hobe Sound Florida Market Report ZIP Code 33455 Condo August 2013

Jensen Beach Florida Market Report ZIP Code 34957 Condo August 2013

09.24.13 by Gabe Sanders

Jensen Beach Florida Market Report ZIP Code 34957 Condo August 2013

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for August 2013

For August 2013 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :

There are currently 30 active listings. ( Decreased by 1 condo from July)

17 Condo sales are pending and awaiting close or lender approval. (Down by 2 condos from July)

12 Condos Sold (An increase of 3 condos from July)

The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market. Current inventory is at an all time low as compared to the past 10 years. The inventory went down again, though only by 1 unit and pending sales were off by 2, but still very strong as compared to the available inventory. Closed sales were up by 3 condos.

The one month absorption rate for the August 2013, Jensen Beach Florida Market Report ZIP Code 34957 dropped to 2.5 months (3.4 months in July), signifying a continuing strong sellers market. A balanced market is considered to be a 6 month absorption rate favoring neither the buyer or seller.

The August 2012 numbers were: 50 active listings, 27 pending sales and 4 condos closed. Even with considerably less available condos, 3013 activity continues to outperform 2012. This is an excellent time to sell a condo in the Jensen Beach area of Martin County.

Please use the charts below as reference only as they rely on all residential types of property in the 34957 real estate market:

Search here for Jensen Beach Real Estate for Sale

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Jensen Beach Florida Market Report ZIP Code 34957 Condo August 2013

Palm City Florida Market Report ZIP Code 34990 Condo August 2013

09.23.13 by Gabe Sanders

Palm City Florida Market Report ZIP Code 34990 Condo August 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for August 2013

For August 2013 in the 34990 Zip Code area of Palm City, Florida :

There are currently 53 active condo listings. (Down by 1 condo from July)

10 Condo sales are pending and awaiting close or lender approval. (Increased by 1 condo from last month)

0 Condos Sold in August. (Down 6 condos from July)

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. Thus making meaningful market comparisons somewhat difficult as small changes can have a great effect on the percentages and results. There were no sales in August for condos, while the inventory and pending sales moved only by one condo each.

The current absorption rate for condos in the 34990 zip code area is not available with zero sales. A balanced market is considered to be an absorption rate of around 6 months.

The August 2012 numbers were: 63 active listings, 6 pending sales and 4 closed sales. The higher pending numbers this year should indicate some sales in the near future.

Please use the charts below as reference only as they rely on all residential types of property in the 34997 real estate market:

Search here for Palm City Florida Real Estate for Sale ( Condos)

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Palm City Florida Market Report ZIP Code 34990 Condo August 2013

Stuart Florida Market Report ZIP Code 34994 Residential August 2013

09.11.13 by Gabe Sanders

Stuart Florida Market Report ZIP Code 34994 Residential August 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for August 2013

For August, 2013 in the 34994 Zip Code area of Stuart, Florida :

There are currently 59 active listings (Up 4 from July).

33 Residential sales are pending and awaiting close or lender approval (Up 4 homes from July).

8 Homes Sold in July (Decreased by 7 homes from July)

The 34994 ZIP code area of the Stuart, Florida had a decrease in closed (sold) sales for the month of August. On a positive note, the inventory rose slightly (for the second month in a row), though the inventory of available homes is still very low and is one reason for the lower number of closed sales. Pending sales did go up from July and this is a good sign for future closed sales.

The one month absorption rate for the 34994 zip code for August rose to 7.4 months from last months 3.7 months. Back into a very slight buyers market. A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

The August 2012 numbers were 58 Active Listings, 38 pending sales and 14 closed sales. Unfortunately, for the 34994 zip code area of Stuart, FL the market was fractionally better last year as compared to August of 2013.

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market:

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Stuart, FL Real Estate

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Rental Properties for Rent in Stuart, Florida Between $0 – $500,000

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Stuart Florida Market Report ZIP Code 34994 Residential August 2013

South Fork Estates Market Update for September 2013

09.02.13 by Gabe Sanders

South Fork Estates Market Update for September 2013

There is currently only one home for sale in South Fork Estates. The listing price is $348,500 which equates to $154.96 per sq. ft. of living area.

There are currently no homes under contract, pending a sale in South Fork Estates

In the past 12 months, there have been 8 sales in South Fork Estates. Two of these homes were short sales.. Sales prices ranged from $215,000 to $370,000. The average sales price per square foot of living area was $136.01 at a 96% list to sales ratio.

A unique private community in Stuart, Florida built before land was so expensive that homes had to be placed on top of each other. All home in South Fork Estates are on 1/2 acre or larger lots, many with serene views of two large lakes located within this community. Those homes not on the lakes have private preserve views of the Atlantic Ridge.

There are 114 homes in South Fork Estates. Homes were built from 1992 through as late as 2011. The majority of the homes are in the 1998 through 2005 years. Most homes are either 3 or 4 bedrooms with 2 and 3 car garages, ranging in size from around 2,000 sq. ft. of living area to over 3,500. There are still a few residential lots that are vacant awaiting a home.

This is a close-knit community with a playground as well as a boat and RV storage area. Low Homeowners’ association fees of under $50 per month at the time of this writing.

Children living in South Fork Estates attend Crystal Lake Elementary, David L Anderson Middle and South Fork High Schools.

Located just off Cove Rd. and Kanner Highways, this community is just minutes from I-95 for commuters. Shopping and medical facilities are also close by. And, there are numerous choices for boating access also only a short ride away.

One of the hidden gems of the Stuart area, South Fork Estates id a great community to call home.

Here are the currently available homes for sale in South Fork Estates

South Fork Estates Market Update for September 2013

July 2013 Monthly Market Detail Martin County Townhouses and Condos

08.31.13 by Gabe Sanders

July 2013 Monthly Market Detail Martin County Townhouses and Condos

The July 2013 Monthly Market Detail Martin County Townhouses and Condos continues to show positive year to year results. We’ve had a very impressive run so far in 2013 with no signs of abatement. Year to year closed sales were up by 20.8% ( down by 18% in June) while new sales under contract (new pending sales) increased by 65.6% (was 38.3% in June).

The median sales price increased by 20.7% (was up by 14.6% in June) while the average sales price rose by 10.2% (was up 25.3% in June) as compared to July of 2012.

The inventory of available townhouses and condos have decreased to 545 units which is a decrease of 31.5% from last July. Current supply of inventory is only 5.5 months (a 41.4% decrease from last year). For the Martin County townhouse and condo market we are now in a seller’s market. This will put significant pressure into possible rising values as long as a seller’s market persists.

Click here to view or download the full report:
July 2013 Monthly Market Detail Martin County Townhouses and Condos

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

July 2013 Monthly Market Detail Martin County Townhouses and Condos

July 2013 Monthly Market Detail Martin County Single Family Homes

08.30.13 by Gabe Sanders

July 2013 Monthly Market Detail Martin County Single Family Homes

Another month of solid gains year to year for the July 2013 Monthly Market Detail Martin County Single Family Homes as reported by Florida Realtors. Closed sales were up by 18.2% (was 24.4 % in June) and new sales under contract (new pending sales) increased by 42.1% (43.9% in June).

Both the median and average sales prices (year to year) increased this month by percentages of 11.8% and 14% respectively.

The inventory of available single family homes have decreased to only 1102 units which is down by 23.9% from last July. Current supply of inventory is only 6.3 months (a 35.5% decrease from last year). We are now in a balanced market for residential sales in Martin County. There’s no reason not to expect a sellers market should the inventory continue to decrease.

Please look at the full Martin County single family market detail by clicking on the links below:

Click here to view or download the full report:
July 2013 Monthly Market Detail Martin County Single Family Homes

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

July 2013 Monthly Market Detail Martin County Single Family Homes

July 2013 Monthly Market Detail Florida Townhouses and Condos

08.29.13 by Gabe Sanders

July 2013 Monthly Market Detail Florida Townhouses and Condos

The July 2013 Monthly Market Detail Florida Townhouses and Condos for the state of Florida showed excellent activity after a bit of easing in June. Year to year closed sales were up by 16.8% as compared to last months decrease of 2.5% and new sales under contract (new pending sales) increased by 20.7% (June’s increase was 14.2%).

Both median and average sales prices were up (year to year) by 21.9% and 21.7% respectively (higher than June’s).

One item of concern is the active inventory which has decreased again, for July by 17.5%. The reduced inventory will eventually result in lower sales volume as there just isn’t enough homes available for sale. This will also result in strong upward pressure on prices and at some point renewed activity in new construction. If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I will expect a gradual increase in inventory.

Click on the link below or the graphic to see the full market detail report from Florida Realtors:

Click here to view or download the full report:
July 2013 Monthly Market Detail Florida Townhouses and Condos

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

July 2013 Monthly Market Detail Florida Townhouses and Condos

July 2013 Monthly Market Detail Florida Single Family Homes

08.28.13 by Gabe Sanders

July 2013 Monthly Market Detail Florida Single Family Homes

The positive trend continues for the real estate market as reported by Florida Realtors for the July 2013 Monthly Market Detail Florida Single Family Homes for the entire state of Florida. All indices have once again moved in a positive direction with the exception of inventory (active listings). Year to year closed sales were up by 20.9% (was 8.6% in June) and new sales under contract (new pending sales) increased by 25.9% (was 23.1% in June).

Both median and average sales prices were up (July 2012 to July 2013) by 18.7% and 17.5% respectively. July results are surprisingly better numbers than June of 2013 and momentum has been regained.

The inventory of available homes for sale remains a concern as it continues to decrease, down by 17.2% from last year. The reduced inventory will eventually result in lower sales volume as there just isn’t enough homes available for sale. This will also result in strong upward pressure on prices and at some point renewed activity in new construction. If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I will expect a gradual increase in inventory.

Please look at the full detail report for the rest of the story:

Click here to view or download the full report:
July 2013 Monthly Market Detail Florida Single Family Homes

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

July 2013 Monthly Market Detail Florida Single Family Homes

Martin County Florida Condo Market Report for July 2013

08.27.13 by Gabe Sanders

Martin County Florida Condo Market Report for July 2013

Commentary:

The Martin County Florida Condo Market for July 2013 had minimally better sales than last year (2 condos). On a positive note, the inventory rose to 526 units, making for a better selection for buyers. Though these levels are still low. It was back in 2005 when we had steady inventory levels below 600 units. The median sales price took a nice jump from June (up by $34,000) and is $6,000 higher than last year. Much of the median price results are driven by the mix of units selling. We had a good number of higher end waterfront condos sell in July. And, while prices are not declining any more in the overall market, they also are not making any large increases at this time. Prices remain very sensitive to the community and the available competition.

The one month absorption rate increased to 8.92 months from last months 7.36 months, while the three-month average is now at 7.41 months. We’ve slipped back into a slight buyers market. Generally an absorption rate of 6 or 7 months is considered a balanced market.

Higher interest rates remain troubling for the market in general, but is not as strong an issue for our condo market as we have a fairly high percentage of cash buyers. If the economy continues it’s improvement, I expect another good season for the condo market in Martin County for the upcoming year.

Click on the charts for a larger view:

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.

Data compiled from the Realtor Association of Martin County

Martin County Florida Condo Market Report for July 2013

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 July 2013

08.26.13 by Gabe Sanders

Martin County Florida Residential Market Report for July 2013

Commentary:

The Martin County Florida Residential Market for July 2013 continues to produce better results as compared to recent years. For July 2013, the inventory dropped below 1,000 homes for the first time since July of 2005. Hopefully, this is only a seasonal reaction to the market as we approach the slower selling season in this area of Florida. Should inventory levels remain this low, sales numbers will decline as buyers will have difficulty finding suitable housing. New home sales are one relief to this inventory issue and we currently have a number of builders and communities with new home offerings.

Both median and average sales prices declined in July from last month, but are still improved year to year. The one month absorption rate for July 2013 increased to 5.3 months (from 4.72 months in June), and the three-month average is 4.91 months. A 6 month absorption rate is considered to be a balanced market, so we continue to be in a sellers market in Martin County. It’s not unusual to see slower activity as we go into fall and the holiday season.

We’ve had a very good run in the market to date this year. There are a few storm clouds on the horizon, though. Mainly higher interest rates and a very uncertain economy. Recent issues with the quality of our rivers as well as rising flood insurance rates are also impacting our higher end sales in the county.

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

Clicking on the chart will produce a larger view.

Data compiled from the Realtor Association of Martin County

Martin County Florida Residential Market Report for July 2013

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:

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August 2013 Market Update for Martins Crossing

08.25.13 by Gabe Sanders

August 2013 Market Update for Martins Crossing

There are currently 7 homes for sale in Martins Crossing. 4 townhomes (priced from $121,500 to $169,000) and 3 single family homes priced from $199,000 to $289,000. The average price per square foot of living area is $102.80. Of these, one townhome is a short sale and two townhomes are bank owned.

There are nine homes under contract. 3 townhomes and 6 single family. Listing prices ranged from $109,000 to $289,000. This equates to an average of $93.78 per square foot of living area.

In the past twelve months, 49 homes have sold in Martins Crossing. 14 townhomes (sales prices ranged from $97,00 to $154,900) while the 35 homes had prices ranging from 130,000 to $270,000. The overall sales price per square foot was $89.46 at an average list to sales ratio of 96%. There were 13 short sales and 9 foreclosures in these sales.

The number of foreclosures and short sales has drastically declined in Martins Crossing and prices have risen significantly in the past 6 months.

Located in the intimate, yet vibrant, city of Stuart near a variety of fine restaurants, cultural outlets and shopping. August 2013 Market Update for Martins Crossing, boasts of 596 residences with a stunning variety of single family homes and a section of private town homes. This family friendly community was completed around 2006 with mostly newer homes.

August 2013 Market Update for Martins Crossing community amenities include lush landscaping and with private preserve views, The Martins Crossing Clubhouse has a sparkling resort style pool, and over sized deck, tennis courts and a playful tot lot all nearby.

August 2013 Market Update for Martins Crossing is conveniently located by Kanner Hwy. and Pomeroy Street for easy access to Historic Downtown Stuart, the beaches and waterways of Martin County, restaurants, shopping and quick access to I-95. All this in a wonderful ‘A’ rated school system.

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August 2013 Market Update for Martins Crossing

Hobe Sound Florida Market Report ZIP Code 33455 Condo, July 2013

08.23.13 by Gabe Sanders

Hobe Sound Florida Market Report ZIP Code 33455 Condo, July 2013

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for July 2013

For July 2013 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 16 active condo listings. (Down by 3 condos from June)

10 Condo sales are pending and awaiting close or lender approval. (Down by 2 condos from June)

5 Condos sold in July (Increased by 5 condos from June)

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market. Sales increased to 5 units from 0 sales in July. Pending sales were off slightly while the inventory is shrinking to very, very small numbers.

The absorption rate for July is 3.2 months. A very strong sellers advantage for those in the Hobe Sound condo market.. Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.

The July 2012 numbers were: 28 active listings, 7 pending sales and 3 closed sales. Strong activity when compared to last year.

Please use the charts below as reference only as they rely on all residential types of property in the 33455 real estate market:

Search here for Hobe Sound Florida Real Estate for Sale ( Condos)

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Hobe Sound Florida Market Report ZIP Code 33455 Condo, July 2013

Jensen Beach Florida Market Report ZIP Code 34957 Condo July 2013

08.21.13 by Gabe Sanders

Jensen Beach Florida Market Report ZIP Code 34957 Condo July 2013

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for July 2013

For July 2013 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :

There are currently 31 active listings. ( No change from June)

19 Condo sales are pending and awaiting close or lender approval. (Down by 5 condos from June)

9 Condos Sold (An increase of 2 condos from June)

The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market. Current inventory is at an all time low (though unchanged from June). Pending sales were off slightly (not unexpected as the inventory is so low) while sales were up by two units.

The one month absorption rate for the July 2013, Jensen Beach Florida Market Report ZIP Code 34957 dropped to 3.4 months, signifying a shift to a strong sellers market. A balanced market is considered to be a 6 month absorption rate favoring neither the buyer or seller.

The July 2012 numbers were: 54 active listings, 23 pending sales and 5 condos closed. Even with considerably less available condos, 3013 activity continues to outperform 2012.

Please use the charts below as reference only as they rely on all residential types of property in the 34957 real estate market:

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Jensen Beach Florida Market Report ZIP Code 34957 Condo July 2013

Palm City Florida Market Report ZIP Code 34990 Condo July 2013

08.19.13 by Gabe Sanders

Palm City Florida Market Report ZIP Code 34990 Condo July 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for July 2013

For July 2013 in the 34990 Zip Code area of Palm City, Florida :

There are currently 54 active condo listings. (Down by 4 condos from June)

9 Condo sales are pending and awaiting close or lender approval. (Decreased by 5 condos from last month)

6 Condos Sold in July. (Down 2 condos from June)

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. Thus making meaningful market comparisons somewhat difficult as small changes can have a great effect on the percentages and results. Both pending and closed sales were off this month compared to June as well as another month with decreasing inventory.

The current absorption rate for condos in the 34990 zip code area rose to 8.3 months. Drifting back into a buyers market, as a balanced market is considered to be an absorption rate of around 6 months.

The July 2012 numbers were: 62 active listings, 7 pending sales and 1 closed sales. Even with the significantly lower number of active condo listings, this year’s activity is much better.

Please use the charts below as reference only as they rely on all residential types of property in the 34997 real estate market:

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Palm City Florida Market Report ZIP Code 34990 Condo July 2013

Stuart Florida Market Report ZIP Code 34994 Residential July 2013

08.12.13 by Gabe Sanders

Stuart Florida Market Report ZIP Code 34994 Residential July 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Residential Sales for July 2013

For July, 2013 in the 34994 Zip Code area of Stuart, Florida :

There are currently 55 active listings (Up 1 from June).

29 Residential sales are pending and awaiting close or lender approval (Down 7 homes from June).

15 Homes Sold in June (Increased by 4 homes from June)

Closed sales were up by 4 homes in the 34994 ZIP code area of the Stuart, Florida. Available homes for sale (Inventory) rose by 1 unit. Pending sales dropped (second month in a row). With such a low inventory of available homes plus the off season, we can expect a little slower activity in this market. If the overall economy continues to improve and prices continue to rise, I will be expecting rising inventories as well for the coming season.

The one month absorption rate for the 34994 zip code for July dropped further to 3.7 months. signifying a strong sellers market. A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage. If you are contemplating placing your home up for sale in the 34994 zip code area of Stuart, FL, now is a good time. Please call me for details of why this is so.

The July 2012 numbers were 62 Active Listings, 53 pending sales and 16 closed sales. We’re doing well as compared to last year. The largest drop this year is in pending sales as the number of short sales are slowly being closed and taken off the market. These short sales have been inflating the pending numbers for the past couple of years.

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market:

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Stuart Florida Market Report ZIP Code 34994 Residential July 2013

Martin County Florida Condo Market Report for June 2013

08.06.13 by Gabe Sanders

Martin County Florida Condo Market Report for June 2013

Commentary:

The Martin County Florida Condo Market for June 2013 was strong, though it retreated considerably from the excellent April numbers. 85 condos sold in June (compared to 128 in April). Better numbers, year to year, but not excellent. The inventory of available condos dropped again (fifth month in a row) to only 544 condos. This low number is beginning to effect prices and at long last it appears that condo prices are starting to rise. The median sales price was down compared to April, but this is a reflection of the larger number of lower priced condos that sold this month, rather than decreasing value. Summer is upon us and typically the condo market slows down during the summer months.

The one month absorption rate increased to 6.4 months from last months 4.46 months, while the three-month average is now at 5.71 months. Basically a balanced market for the time being. Generally an absorption rate of 6 or 7 months is considered a balanced market.

The low inventory rates and rising interest rates are troubling and could possibly have a negative effect on the condo market recovery.

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 June 2013

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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