Palm City Florida Market Report ZIP Code 34990 – Condo, February 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, February 2013

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

 

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



There are currently 69 active condo listings. (No change from January)

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7 Condo sales are pending and awaiting close or lender approval. (Down 1 condo from last month)

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4 Condos Sold in February. (Up by 1 condo from January)

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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.  Thus making meaningful market comparisons somewhat difficult as small changes can have a great effect on the percentages and results.  For February, the Palm City condo market activity had no change in inventory and one less pending sale and one greater closed sale.
 
The current absorption rate for condos in the 34990 zip code area is 17.3 months.  A very strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
 
The February 2012 numbers were: 71 active listings, 1 pending sales and 5 closed sales.   Close comparison to last year, with the exception of the increased pending activity this year.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, February 2013

Search for Martin County Homes By High School Districts

Search for Martin County Homes By High School Districts

Listed below are the various Martin County High Schools along with a search of homes covering that particular school district.  Please double check with the Martin County School System as to the accuracy of the information provided on this page.

Martin County High Schools

Search for homes in the Jensen Beach High School District

Search for homes in the Martin County High School District

Search for homes in the South Fork High School District

 Search for Martin County Homes By High School Districts

Search for Martin County Homes By Middle School Districts

Search for Martin County Homes By Middle School Districts

Listed below are the various Martin County Middle Schools along with a search of homes covering that particular school district.  Please double check with the Martin County School System as to the accuracy of the information provided on this page.

Martin County Middle Schools

Search for homes in the David L Anderson Middle School District

Search for homes in the Hidden Oaks Middle School District

 Search for homes in the Murray Middle School District

Search for homes in the Stuart Middle School District 

 

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Stuart Florida Market Report ZIP Code 34994 – Residential, February 2013

Stuart Florida Market Report ZIP Code 34994 – Residential, February 2013

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

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

 

There are currently 76 active listings (Up 12 from January).

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23 Residential sales are pending and awaiting close or lender approval (Down 8 from January).

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10 Homes Sold in January (Up 5 homes from January)

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The 34994 ZIP code area of the Stuart, Florida real estate market had a nice jump in sales in February, but also a disappointing drop in pending sales.  Inventory rose by 12 homes, but is still quite low which is impacting the sales for this segment of the Stuart, FL real estate market.

The one month absorption rate for the 34994 zip code for February dropped to 7.6 months. which signifies a slight buyers market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

The February 2012 numbers were 78 Active Listings, 43 pending sales and 7 closed sales.  Our pending sales for this year are almost half of last year’s, while other indicators are fairly close.  Not a good indication for the spring for the 3994 zip code area of Stuart.

 

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Stuart, FL Real Estate

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Stuart Florida Market Report ZIP Code 34994 – Residential, February 2013

Search for Martin County Homes By Elementary School Districts

Search for Martin County Homes By Elementary School Districts

Listed below are the various Martin County Elementary Schools along with a search of homes covering that particular school district.  Please double check with the Martin County School System as to the accuracy of the information provided on this page.

Martin County Elementary Schools

 Search for homes in the Bessey Creek Elementary School District 

 Search for homes in the Citrus Grove Elementary School District 

 Search for homes in the Crystal Lake Elementary School District 

 Search for homes in the Felix A Williams Elementary School District 

 Search for homes in the Hobe Sound Elementary School District 

Search for homes in the J D Parker Elementary School District 

Search for homes in the Jensen Beach Elementary School District 

Search for homes in the Palm City Elementary School District   

 Search for homes in the Pinewood Elementary School District 

 Search for homes in the Port Salerno Elementary School District 

Search for homes in the SeaWind Elementary School District  

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March 2013 Market Update for Ocean House in Indian River Plantation

March 2013 Market Update for Ocean House in Indian River Plantation

March 2013 Market Update for Ocean House Condos in Indian River Plantation, Hutchinson Island in Stuart, FL

Currently 2 active listings on the market at prices of $514,900 and $574,000 for an average of $357.16 per square ft. of living area.

There is 1 condo under contract awaiting closing listed for $509,000 at a cost per square ft. of living area of $379.85

In the past 12 months, 3 condos have sold ranging in sales prices from $340,000 to $575,000 with an average price per square foot of $317.90

One of the newest buildings in Indian River Plantation, Ocean House, is also the most magnificent.  Consisting of 79 Luxury Condo units of either 2 or 3 spacious bedrooms with amenities galore.  All suites have Ocean views, even the first floor units, which are in actuality the equivalent of being on the third floor as there are two parking levels for residents to enjoy covered parking.

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Ocean House has a newly renovated club house area featuring an updated kitchen with granite counter tops and stainless steel appliances.  Two flat screen televisions and free wi-fi for those that need connectivity.

A heated pool and lanai area that’s perfect for lounging close to the beach, or walk down your private access to enjoy the crystal blue waters of your private Atlantic ocean beach.

Barbecue area with a Tiki Hut for those nights that you want to eat out under the stars.

The Marriott Resort at Indian River Plantation Features:

Indian River Plantation consists of numerous condominium associations and buildings.  All styles from Ocean front to River front and Golf and Tennis villas can be found here.  IRP is associated and co-located with the Marriott Resort and Marina.

Tucked away on Hutchinson Island, the Treasure Coast’s 16-mile lush barrier island, is a unique resort that greets guests with the warmth of true Southern hospitality.

The Hutchinson Island Marriott Beach Resort and Marina stretches across 200 acres of plantation landscape on Hutchinson Island, bordered on one side by the Atlantic Ocean and by the shimmering Indian River on the other side.

A newly remodeled lobby with sweeping draperies, plantation-style wood furnishings and tropical tones sets the stage for a magical golf getaway. This is the gateway to an array of championship and executive courses, including Nicklaus, Fazio and Player designs.

Golfers of all skill levels will enjoy the challenging fairways and greens found in the area’s 12 courses. Plantation East, the resort’s own course, meanders throughout the island and is characterized by water on 17 of 18 holes. This 4,042-yard, par-61 executive course requires careful club selection and precision shot-making to overcome constantly changing ocean breezes.

This is the gateway to an array of championship and executive courses, including Nicklaus, Fazio and Player designs.

Golfers of all skill levels will enjoy the challenging fairways and greens found in the area’s 12 courses. The Ocean Club, the resort’s own course, meanders throughout the island and is characterized by water on 17 of 18 holes. This 4,042-yard, par-61 executive course requires careful club selection and precision shot-making to overcome constantly changing ocean breezes.

The Hutchinson Island Marriott offers guests and residents two tiki bars and their Signature Restaurant, the Baha Grille. Thirteen Novagrass tennis courts, miles of unspoiled beaches, water sports, deep sea fishing, and a full-service 77-slip marina anchored on the Indian River round out a perfect vacation of sun and fun.

Resort amenities also include three heated pools with sun decks, game rentals from the Activities Hut, two outdoor spas and supervised activities for both children and teens.

March 2013 Market Update for Ocean House in Indian River Plantation

Hutchinson Island Condos For Sale

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March 2013 Market Update for Fairwinds Cove Condos in Jensen Beach

March 2013 Market Update for Fairwinds Cove Condos in Jensen Beach

Fairwinds Cove Condos in Jensen Beach, FL., Market Update for March 2013:


Currently 5 active listings on the market ranging in price from $145,000 to $250,000 for an average of $158.41 per square ft. of living area.

There are two condos under contract awaiting the sale for $195,000 and $220,000 list price at an average cost per square ft. of living area of $181.67.

In the past 12 months, 9 condos have sold ranging in sales prices from $120,000 to $197,000 with an average price per square foot of $131.54

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Located in beautiful Jensen Beach, Florida on the East side of the Jensen Beach Causeway is Fairwinds Cove.  A waterfront condo complex of 10 four story buildings with only 4 suites per floor.  Many of these condos with wonderful sweeping views of the Indian River (the Intracoastal Waterway that runs through Martin County).
 
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This condo complex built in multiple phases from 1974 to 1983 boasts two swimming pools, tennis courts, shuffleboard, waterside walking paths, a recently refurbished clubhouse with full kitchen, meeting room, fitness room, billiards and more.  Fairwinds Cove also has deeded docks with great access to fishing, water sports and only a few minutes to the crystal clear waters of the Atlantic Ocean.

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Fairwinds Cove is a non-age restricted community that allows one small pet.  There is a strong sense of community with many long time seasonal and full time residents.  Located within an easy walk to the beach and just a short drive to charming downtown Jensen Beach  as well as the many amenities offered in Martin County, Florida.

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March 2013 Market Report for Hutchinson House Condos

March 2013 Market Report for Hutchinson House Condos

As of March 1 2013, there are 4 condos on the market in Hutchinson House on Hutchinson Island in Stuart FL.  Listing prices range from $215,000 to $499,000 with an average of $219.26 per sq. ft. of living area.

Currently, no homes are under contract.

There have been 4 condos sold in the past 12 months in Hutchinson House.  Sales prices ranged from $210,000 to $350,000 for an average of $200.05 per sq. ft. of living area.

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Located on Hutchinson Island in uncrowded and unspoiled Martin County, the Hutchinson House Condo complex is an ocean to Intracoastal complex with a variety of styles and views offering wonderful amenities that include ocean access docks, club house, pools, spa/jacuzzi, tennis and a private beach.
 
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Hutchinson House consists of 121 Condos, with the Ocean Side being Hutchinson House East and the river side is called Hutchinson House West.  Both sides offer 2 and 3 bedroom condos with 2 or more bathrooms.  Many with spectacular views of the river and the crystal clear blue waters of the Atlantic Ocean.

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The Hutchinson House condos are one of the few condo developments that is pet friendly and allows for up to 2 large pets.  For currently available Hutchinson House condos please call or view the search link below.

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Martin County Florida Condo Market Report for January 2013

Martin County Florida Condo Market Report for January 2013

 

Commentary:

The Martin County Florida Condo Market for January 2013 continues to have its difficulties while the residential segment of the Treasure Coast real estate market is showing positive signs.  Sales for January were only 39 condos, down from 54 in December.  Similar to last year’s 37 condo sales in January.  The inventory declined to 610 condos (Down 20 from December) which is 54 condos less than were available last year.  This is the first month of decreasing inventory after 3 months of increases.  The median sales price dropped to $95,000 for January of 2013 (Was 133,000 in Jan 2012).   While the median list price rose to $179,000.  Whether this is just seasonal drop during the holiday season remains to be seen.  Typically we get more higher end condo sales in the spring season.

The one month absorption rate jumped to 15.6 months, while the three-month average rose to 13.3 months.  Still a very challenging market for condo sellers.  But quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

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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 January 2013

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:

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Martin County Florida Residential Market Report for January 2013

Martin County Florida Residential Market Report for January 2013

 

Commentary:

The Martin County Florida residential market report for January 2013 showed reduced sales activity which is mot unexpected as a result of slower activity from the holiday season.  But, we still showed stronger activity than for the past 3 January periods.  All this with an inventory of available homes now down by close to 50% from 2010.

Average and median sales prices were down for January.  The inventory of available homes finally showed a small increase of 49 homes.  This is positive news as the inventory was getting down to a point where there just wasn’t enough choices for willing buyers.  The one month absorption rate for January moved to 8.4 months, while the three-month average rose to 7.4 months.  A 6 month absorption rate is considered to be a balanced market, so we remain in a slight buyers market in Martin County.

February’s’s showing activity remains strong.  Some fairly positive economic data and strong positive Wall Street news should signal continuing positive real estate activity for the next few months.  Currently, I’m seeing issues with short sales as the banks seem to be reading the national statistics of increasing prices and are currently pricing many of their short sales at initially unacceptable levels.

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

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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 January 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:

Stuart Florida Real Estate

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, January 2013

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, January 2013

 

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

 

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

 

There are currently 19 active condo listings. (Down by 7 condos from December)

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

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  4 Condos sold in January (An increase of 2 condos from December)

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The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  With a significant further decrease in inventory, I don’t see any meaningful market activity coming from this segment in the spring.  For January, good strong closed and pending activity when considering only 19 available condos for sale in this market segment.

The one month absorption rate is down to 4.8 months, signifying a sellers market.  Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.

The January 2012 numbers were:  32 active listings, 3 pending sales and 5 closed sales.  Considering the inventory, the market activity for January of 2013 was better than the same month last year.



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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, January 2013

 

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, January 2013

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, January 2013

 

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

 

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

There are currently 66 active listings. ( An increase of 1 condo from December)

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27 Condo sales are pending and awaiting close or lender approval. (Up 10 condos from December)

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5 Condos Sold (No change from December)

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The Jensen Beach Condo market (zip code 34957) is a fairly small segment of the Martin County condo market.  Inventory was up once again (though only by 1 unit) for the third month in a row.   Closed sales remained unchanged, while there was a nice increase in pending sales.  If this continues through the spring, we should have an active condo market in the Jensen Beach area of Martin County.

The one month absorption rate for the January 2013, Jensen Beach Florida Market Report ZIP Code 34957 is 13 months.  A strong buyer’s market.  Typically, a 6 month absorption rate is considered balanced, favoring neither the buyer or seller.

The January 2012 numbers were: 70 active listings, 16 pending sales and 7 condos closed.  Last year’s activity is very similar to January 2013, with the exception of a considerably higher number of pending sales.


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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, January 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, January 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, January 2013

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

 

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



There are currently 69 active condo listings. (An increase of 6 condos from December)

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

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3 Condos Sold in January. (No change from December)

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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.  Thus making meaningful market comparisons somewhat difficult as small changes can have a great effect on the percentages and results.  For January, other than a small increase in available condos, there was no change in other market activity.
 
The current absorption rate for condos in the 34990 zip code area is 23 months.  A very strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
 
The January 2012 numbers were: 68 active listings, 6 pending sales and 3 closed sales.   Close to being identical with this year’s activity.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, January 2013

Stuart Florida Market Report ZIP Code 34994 – Residential, January 2013

Stuart Florida Market Report ZIP Code 34994 – Residential, January 2013

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

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

 

There are currently 64 active listings (Down 11 from December).

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

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5 Homes Sold in December (Down 9 homes from December)

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The 34994 ZIP code area of the Stuart, Florida real estate market is starting 2013 off with mixed signals.  Pending sales are up while the inventory is now down to very low numbers.  Sales were also off from the end of the year.  Of note is the low inventory which will result in slower market activity in the coming months.  The most likely scenario will be a gradual rise in prices to the point that more sellers will place homes on the market.  This will probably play out during the coming year, barring any unforeseen external economic surprises.

The one month absorption rate for the 34994 zip code for January slid back to 12.8 months. which signifies a buyers market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

The January 2012 numbers were 83 Active Listings, 38 pending sales and 6 closed sales.   Considerably higher inventory.  Other results are pretty much in line for this year from last.

 

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Stuart, FL Real Estate

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Stuart Florida Market Report ZIP Code 34994 – Residential, January 2013

February 2013 Market Update Westwood Country Estates in Palm City

February 2013 Market Update Westwood Country Estates in Palm City

As of Feb. 13 2013, there are 4 homes on the market in Westwood Country Estates in Palm City, FL.  Listing prices range from $249,000 to $500,000 with an average of $171.71 per sq. ft. of living area.

One home listed for $375,000 (short sale) is under contract and awaiting close.  List price was at 91.35 per sq. ft. of living area.

There have been 5 homes sold in the past 12 months in Westwood Country estates.  Sales prices ranged from $225,000 to $370,000 for an average of $117.16 per sq. ft. of living area.

February 2013 Market Update Westwood Country Estates in Palm City Florida

 

Westwood Country Estates in Palm City, FL  is a wide open, gorgeous community that features statuesque homes that are beautifully placed on oversized lots of ½ acre or more, that will give you and your family plenty of room to grow!  Wonderfully landscaped throughout, Westwood Country Estates will make you feel proud to come home to.  Every home is unique and there is sure to be one you will fall in love with!

Palm City is a great place to raise a family with its “A” rated schools and proximity to I-95 and Florida’s Turnpike which opens you to all the opportunities of both Martin County and it’s neighbors, just a short drive North or South!  Martin County has lots of recreational areas and opportunities to enjoy many opportunities outdoors with your family!

Westwood Country Estates Homes for Sale

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February 2013 Market Update Cobblestone Country Club

 

February 2013 Market Update Cobblestone Country Club

There are currently 8 homes for sale in the Cobblestone Country Club of palm City, FL.  List prices range from $369,900 to 599,900 with an average asking price of $135.98 per sq. ft. of living area.

2 Homes are under contract and awaiting sale.  List prices were $251,900 and 299,900 for an average of $110.66 per sq. ft. of living area.  These are both distressed sales as one is a short sale and the other is bank owned.

In the past 12 months, 12 homes have sold in the Cobblestone Country Club.  Sale prices ranged from $210,000 to $673,000 and the average sale price per sq. ft. of living area was $117.98.

 

Cobblestone Country Club

February 2013 Market Update Cobblestone Country Club

Located just west of the center of Palm City, Cobblestone Country Club is a peaceful neighborhood of 512 acres with only 238 residences providing generous amounts of space around each home. This upscale community is adjacent to exit 110 on I-95 with easy access to all that Palm Beach County to the South and Orlando to the North, has to offer while enjoying the laid back low growth lifestyle, lower taxes and superior school systems that Martin County offers. Residents enjoy coming home to picturesque views of lakes, preserves and the 18-hole private Fox Golf Course in the Cobblestone Country Club. Homes in Cobblestone consist of new custom built homes and a selection of quality newer resales. 

February 2013 Market Update Cobblestone Country Club

February 2013 Market Update Cobblestone Country Club

Cobblestone Country Club Homes for Sale

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February 2013 Market Update Cobblestone Country Club

Custom Newer Stuart FL Waterfront Estate Just Listed

Custom Newer Stuart FL Waterfront Estate Just Listed

Custom Newer Stuart FL Waterfront Estate

6800 SW Gaines Ave is a Custom Newer Stuart FL Waterfront Estate Just Listed with the Gabe Sanders real estate team.  This 2002 home has the latest updates and all the bells and whistles you could possibly want.

Custom Newer Stuart FL Waterfront Estate

For those desiring the ultimate in privacy yet having close access to all the amenities Martin County has to offer, this is your future. Located on 4 plus acres of deep waterfront (320′) on the South Fork of the Saint Lucie River.

 Custom Newer Stuart FL Waterfront Estate

Custom designed and built to the highest standards. Currently configured with 4 Br, 2 Offices, Theater Room, Work rooms, 4 & 1/2 Baths and attached 5 car gar. Impact Glass throughout, with a great room concept featuring 42′ Pecky cypress ceilings. Commercial grade kitchen with multiple cooking surfaces, both gas and electric, numerous ovens, commercial refrigerators, dishwashers, etc (see attached feature list). Master wing features dual offices and his and her bathrooms. Detached 1 Br. 1 Ba. updated guest home.

 Custom Newer Stuart FL Waterfront Estate

 

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waterfront homes in Stuart

 

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Custom Newer Stuart FL Waterfront Estate Just Listed

Martin County Florida Condo Market Report for December 2012

Martin County Florida Condo Market Report for December 2012

 

Commentary:

The Martin County Florida Condo Market for December 2012 continues to have its difficulties while the residential segment of the Treasure Coast real estate market is showing positive signs.  Sales for December were 54 units down up from 47 in November.  Pretty similar to last year’s 52 condos and equal to the 54 sold condos in December of 2010.  The inventory rose to 630 condos (up 13 from November) which is 43 condos less than were available last year.  This is the third month of increasing inventory.  If sales do not pick up by an appreciable amount, the increase in inventory will continue to drive prices down.  As evidenced by the median sales price dropping to $100,950 for December of 2012 (Was 110,000 in Dec 2011)   The median listing price was also off to $175,000.  Whether this is just seasonal drop during the holiday season remains to be seen.  Typically we get more higher end condo sales in the spring season.

The one month absorption rate decreased to 11.7 months, while the three-month average is at 12.1 months.  Still a very challenging market for condo sellers.  But quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

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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 December 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


Martin County Florida Residential Market Report for December 2012

Martin County Florida Residential Market Report for December 2012

 

Commentary:

The Martin County Florida residential market report for December 2012 showed strong activity. In a month that typically is slow by historical standards, 166 homes closed, 6 homes better than 2011 and 18 homes better than 2010.  All this with an inventory of available homes now down by close to 50% from 2010.

Average and median sales prices were down for December.  The inventory of available homes showed an unexpected drop this month after a rise in November.  Considerably under the 1426 homes that were on the market in December of 2011 (and the 2764 homes in December of 2007). The one month absorption rate for December remained steady at 6.9 months, while the three-month average dropped to 7.1 months. A 6 month absorption rate is considered to be a balanced market, so we remain in a slight buyers market in Martin County.

January’s showing activity remains strong.  Some fairly positive economic data and strong positive Wall Street news should signal continuing positive real estate activity for the next few months.  Currently, I’m seeing issues with short sales as the banks seem to be reading the national statistics of increasing prices and are currently pricing many of their short sales at initially unacceptable levels.

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

[singlepic id=3243 w=800 h=600 float=center]

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.

[singlepic id=3244 w=800 h=600 float=center]

[singlepic id=3245 w=800 h=600 float=center]

[singlepic id=3246 w=800 h=600 float=center]

 

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 December 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

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

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

 

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

 

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

 

There are currently 26 active condo listings. (Unchanged from November)

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10 Condo sales are pending and awaiting close or lender approval. (No change from November)

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  2 Condos sold in December (An increase of 1 condo from November)

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The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  December showed very little change from last month (which showed very little change from the previous months as well).  In fact the only change was an increase to 2 closed sales from 1 the previous month.

The one month absorption rate is up to 13 months, signifying that it’s still a buyers market.  But this will almost certainly change in the coming months.   Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.  But, with such low numbers, these indicators can easily be misleading.

The December 2011 numbers were:  37 active listings, 7 pending sales and 5 closed sales.  Not quite as robust as last year even when factoring in the smaller inventory of available homes.



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