Stuart Florida Market Report ZIP Code 34996 – Residential, September 2012

10.15.12 by

Stuart Florida Market Report ZIP Code 34996 – Residential, September 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for September 2012

For September 2012 in the Stuart Florida Market Report ZIP Code 34996 Florida :

There are currently 154 active listings (Decreased 12 homes from August).

34 Residential sales are pending and awaiting close or lender approval (Unchanged from August).

7 Homes Sold in September (Up 1 from August).

The 34996 zip code area of Stuart Florida showed a slight increase in sales for September.  Pending sales were unchanged from last month while inventory remained decreased again.  Good results when considering that this is our off season.  The one month absorption rate for the 34996 zip code area of Stuart Florida for September is 22 months, which still has plenty of room for improvement.  A balanced market, favoring neither buyer or seller is considered to be around a 6 month absorption rate.

The numbers for September of 2011 were: 177 active listings, 23 pending sales and 12 closed sales.  With the exception of the closed sales, our peding numbers are much better than last year with a considerably lower inventory.

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Stuart Florida Market Report ZIP Code 34996 – Residential, September 2012

Sewalls Point Residential Market Report September 2012

10.10.12 by

Sewalls Point Residential Market Report September 2012

Sewalls Point Real Estate Snapshot, Residential Sales for September 2012

There are currently 50 active listings (a decrease of 7 home for sale from August)

20 Residential sales are pending and awaiting close or lender approval (an increase of 4 homes from August)

3 Homes sold in August (Unchanged from August)

Surprisingly, the Sewalls Point market report for September 2012 showed a small increase in activity during a seasonally slow time by historical standards..  Sales remained steady at three homes but the homes under contract rose to 20 units, which should translate to higher fall sales and the inventory decreased to 50 homes, which is fairly low at this time for Sewalls Point.

Comparing the results to September of 2011, the inventory was at 53 homes homes on the market last year, pending sales numbered only 9 homes, and there were 4 sales from $287,000 to $4,325,000.  This years sales were between $530,000 to $1,670,000.   Better

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Sewalls Point Market Report – Residential, September 2012

Martin County Florida Residential Market Report for August 2012

09.28.12 by

Martin County Florida Residential Market Report for August 2012

 

Commentary:

The Martin County Florida residential market report for August 2012 continues to show strong results. The sales volume of 179 homes is 43 homes better than 2011 and 82 homes better than 2010.  Looking at the absorption rate table, this is the first August in memory that sales continued to remain strong during the off season.  All this with a much reduced inventory from previous months.

Average sales prices were up for August, while the median sales price was off slightly.  Indicating a sale of a few much higher priced home and continuing very strong demand for the more affordable mix in the Martin County residential market.  Other than the top of the price range, the market is now showing price increases pretty much across the board until you reach the above $ 1 million dollar homes, where the market remains somewhat difficult.

This months inventory showed a small increase (for the first time in years) to 1147 units (up 15 from last month), still down from the 1340 homes that were on the market in August of 2011 (and the 2795 homes in August of 2007). The one month absorption rate for August is 6.4 months, while the three-month average is 6.6 months.  These absorption rates are very close to a balanced market, favoring neither seller or buyer.

Overall, very positive market results for the residential segment of the Martin County real estate market.

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

[singlepic id=2846 w=600 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=2847 w=600 h=600 float=center]

[singlepic id=2848 w=600 h=600 float=center]

[singlepic id=2849 w=600 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 August 2012

the Gabe Sanders real estate team

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

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Hobe Sound Florida Market Report ZIP Code 33455 – Residential, August 2012

09.26.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, August 2012

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for August 2012

 

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

There are currently 298 active listings. ( An increase of 19 homes from July)

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55 Residential sales are pending and awaiting close or lender approval (A decrease of 22 homes from July)

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37 Homes Sold in August (An increase of 6 homes from last month)

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For the second month in a row the Hobe Sound real estate market (ZIP Code 33455) had some disappointing results.  While closed sales were up for August, the number of pending sales were off considerably and unlike most other areas of Martin County the inventory rose for the second month n a row.  Whether this is just typical seasonal fluctuations for the Hobe Sound real estate market or a trend diverging from other Martin County areas remains to be seen.

The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 stands at 8 months.  This is still a buyers market in Hobe Sound.  An absorption rate of 6 months is considered to be a balanced market favoring neither the buyer or seller.

The numbers for August 2011 were:  342 active listings, 54 pending sales and 30 closed sales.   Marginally better numbers this year than last.

 

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Hobe Sound Florida Market Report ZIP Code 33455 – Residential, August 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, August 2012

09.23.12 by

Palm City Florida Market Report ZIP Code 34990 – Condo, August 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for August 2012

For August 2012 in the 34990 Zip Code area of Palm City, Florida :



There are currently 63 active condo listings. (An increase of 1 condo from July)

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

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4 Condos Sold in August. (Up 3 from July)

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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 August, closed sales were up 3 units from the one sale of July.  Both pending sales and the inventory only changed by 1 unit for August.
The one month absorption rate for the Palm City Florida condo market is 15.5 months.  Still a significant buyers market.
The August 2011 numbers were: 52 active listings, 5 pending sales and 4 closed sales.   Very similar to this year.  The one statistic to note, unlike most other segments of the Martin County real estate market, the inventory for Palm City condos is up from last year.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, August 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, August 2012

09.22.12 by

Palm City Florida Market Report ZIP Code 34990 – Residential, August 2012

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for August 2012

 

For August 2012 in the 34990 Zip Code area of Palm City Florida :


There are currently 400 active listings (A decrease of 16 homes from July)

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161 Residential sales are pending and awaiting close or lender approval. (A decrease of 8 homes from last month)

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68 Homes Sold in August (Increased 5 homes from July)

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For the Palm City, zip code 34990, area of Martin County Florida activity remained strong for August after a super spring.  Closed sales were up again.  Pending sales were off for the first time in a number of months, possibly reflecting the typical seasonal slow down for Palm City Florida during the summer months.  The inventory of available homes for sale also declined again, now at levels approaching those during the height of the real estate boom in the mid 2000’s.  The market activity remains active, much more so than in the past few years.

The current absorption rate is 5.8 months, which is considered to be a balanced market, but sliding towards a sellers market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The August 2011 numbers were:  466 active listings, 139 pending sales and 42 closed sales.  Considerably improved market activity for August 2012, especially when the lower inventory is factored into the results.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, August 2012

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, August 2012

09.19.12 by

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, August 2012

 

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for August 2012

 

For August 2012 in the 34957 Zip Code area of Jensen Beach, Florida :

 

There are currently 128 active listings. (Up 15 homes from last month)

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83 Residential sales are pending and awaiting close or lender approval. (Down 11 homes from July)

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26 Homes Sold (Up 4 homes from July)

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Another positive month for the Jensen Beach residential real estate market, zip code 34957.   The inventory increased for August, which is now a positive sign as it was getting very low.  With a little more inventory, buyers will have a better selection of homes to choose from.  Closed sales were up, while pending sales decreased.
 
The current absorption rate for the Jensen Beach Florida Market Report ZIP Code 34957 is 4.9 months.  This signifies a sellers market, in which the seller has an advantage over the buyer due to low inventory and increased demand.  A 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.
 
The August 2011 numbers were: 153 active listings, 75 pending sales and 18 home sales closed.  Even with significantly less inventory, much better sales figures for August 2012.
 

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Jensen Beach Florida Market Report ZIP Code 34957 – Residential, August 2012

Stuart Florida Market Report ZIP Code 34997 – Residential, August 2012

09.15.12 by

Stuart Florida Market Report ZIP Code 34997 – Residential, August 2012

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for August 2012

 

There are currently 332 active listings (an increase of 2 homes from July).

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195 Residential sales are pending and awaiting close or lender approval (A decrease of 27 homes from July).

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82 Homes Sold in July (Up 32 homes from July)

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Very strong results from the 34997 zip code area of Stuart Florida. This segment of the Martin County real estate market continues to outperform other areas of Martin County.  Closed sales were up significantly for August.   Pending sales were off, most likely because of the high number of closed sales.  The inventory was up by 2 homes in the 34997 zip code of Stuart, Florida.
 
The current one month absorption rate is just over 4 months, which normally signifies a sellers market.   Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 month absorption rate.
 
The 2011 numbers were: 484 active listings, 181 pending listings and 56 closed sales.
 
 

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Stuart Florida Market Report ZIP Code 34997 – Residential, August 2012

Stuart Florida Market Report ZIP Code 34996 – Residential, August 2012

09.13.12 by

Stuart Florida Market Report ZIP Code 34996 – Residential, August 2012

 

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for August 2012

 

 

For August, 2012 in the Stuart Florida Market Report ZIP Code 34996 Florida :

There are currently 166 active listings (Unchanged from July).

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34 Residential sales are pending and awaiting close or lender approval (Up 6 from July).

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6 Homes Sold in August (Down 5 from July).

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The 34996 zip code area of Stuart Florida showed a decrease in sales for August.  Pending sales were up as compared to last month while inventory remained unchanged.  We continued to have some excellent sales in the higher price brackets this month, continuing a trend from July.   The one month absorption rate for the 34996 zip code area of Stuart Florida for August is 33 months, which still has plenty of room for improvement.  A balanced market, favoring neither buyer or seller is considered to be around a 6 month absorption rate.

The numbers for August of 2011 were: 160 active listings, 28 pending sales and 9 closed sales.  Unusually better numbers last year than for 2012, compared to other segments of the martin County real estate market.

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Stuart Florida Market Report ZIP Code 34996 – Residential, August 2012

Sewalls Point Residential Market Report August 2012

09.09.12 by

Sewalls Point Residential Market Report August 2012

Sewalls Point Real Estate Snapshot, Residential Sales for August 2012

There are currently 57 active listings (an increase of 1 home for sale from July)

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16 Residential sales are pending and awaiting close or lender approval (am increase of 2 homes from July)

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3 Homes sold in July (Down 2 from July)

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The Sewalls Point market report for August 2012 remained pretty static compared to the spring when we had much greater activity.  There is still a fairly high inventory of Sewalls Point homes on the active market, though with 16 pending sales, this number should decrease if these sales close.  Then it will depend on whether or not more home owners decide to sell their homes or not.  The demand for well priced Sewalls Homes is strong, unfortunately demand for many homes in the higher price ranges is just not there at the present time.

Comparing the results to August of 2011, the inventory higher this year as there were only 37 homes on the market last year, pending sales numbered 13, and there were 4 sales from $325,000 to $819,000.  Considerably better numbers last year. Hopefully the Sewalls Point real estate market will show some better activity in the coming season.

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Sewalls Point Market Report – Residential, August 2012

Martin County Florida Residential Market Report for July 2012

08.30.12 by

Martin County Florida Residential Market Report for July 2012

 

Commentary:

The Martin County Florida residential market report for July 2012 continues to show excellent results. The sales volume of 155 homes is 20 homes better than 2011 and 10 homes better than 2010, when those numbers were inflated by the governments first time buyers assistance programs.

Both average and median sales prices were up for July and are showing a slow but steady rise from previous months (on average).  Certain segments of this market are definitely increasing in value.  Whether this trend continues or not will be dependent on factors such as interest rates, inventory and distressed properties.

The inventory is now down to 1132 homes, down from the 1327 homes that were on the market in July of 2011 (and the 2804 homes in July of 2007). The one month absorption rate is now at 7.3 months, while the three-month average is down to 6.28 months.  These absorption rates signify a balanced market, favoring neither seller or buyer.

We are increasingly seeing buyers unable to find homes in their criteria with today’s low inventory levels.  Either they have to settle for something less than their requirements or move on to different areas or even postpone their home purchases.  For those thinking about selling their homes, this is the best time in many years.

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

[singlepic id=2637 w=600 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=2638 w=600 h=600 float=center]

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Data compiled from the Realtor Association of Martin County

 

Martin County Florida Residential Market Report for July 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 – Residential, July 2012

08.28.12 by

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, July 2012

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for July 2012

 

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

There are currently 279 active listings. ( An increase of 13 homes from June)

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77 Residential sales are pending and awaiting close or lender approval (A decrease of 16 homes from June)

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31 Homes Sold in July (A decrease of 15 homes from last month)

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The Hobe Sound real estate market (ZIP Code 33455) took a little turn for July.  For the first time in quite a few months, the inventory increased.  Pending sales and closed sales were also off.  This is the only segment in Martin County reporting such results, so it remains to be seen if this is just a seasonal abnormality or a developing trend.

The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 stands at 8.6 months.  This is still a buyers market in Hobe Sound.  An absorption rate of 6 months is considered to be a balanced market favoring neither the buyer or seller.

 

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Hobe Sound Florida Market Report ZIP Code 33455 – Residential, July 2012

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, July 2012

08.25.12 by

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, July 2012

 

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for July 2012

 

For July 2012 in the 34957 Zip Code area of Jensen Beach, Florida :

 

There are currently 113 active listings. (Down 8 homes from last month)

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94 Residential sales are pending and awaiting close or lender approval. (Up 6 homes from June)

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22 Homes Sold (Down 3 homes from June)

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Another positive month for the Jensen Beach residential real estate market, zip code 34957.   Inventory declined again for July and is now at quite low numbers of available homes for sale.  Closed sales declined fractionally, while pending sales increased.
 
The current absorption rate for the Jensen Beach Florida Market Report ZIP Code 34957 is 5.1 months.  This signifies a sellers market, in which the seller has an advantage over the buyer due to low inventory and increased demand.  A 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.
 

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Jensen Beach Florida Market Report ZIP Code 34957 – Residential, July 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, July 2012

08.24.12 by

Palm City Florida Market Report ZIP Code 34990 – Condo, July 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for July 2012

For July 2012 in the 34990 Zip Code area of Palm City, Florida :



There are currently 62 active condo listings. (A decrease of 4 condos from June)

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7 Condo sales are pending and awaiting close or lender approval. (Up 2 from last month)

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1 Condos Sold in July. (Down 2 from June)

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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.  For July, closed sales were only 1, and this particular condo sold at an extremely discounted price.  It is located in Pipers landing, so there were a number of other fees entailed in the purchase of this unit.  However pending sales increased to 7 condos and the inventory once again declined.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, July 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, July 2012

08.21.12 by

Palm City Florida Market Report ZIP Code 34990 – Residential, July 2012

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for July 2012

 

For July 2012 in the 34990 Zip Code area of Palm City Florida :


There are currently 416 active listings (A decrease of 25 homes from June)

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169 Residential sales are pending and awaiting close or lender approval. (A decrease of 20 homes from last month)

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63 Homes Sold in July (Decreased 7 homes from June)

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For the Palm City, zip code 34990, area of Martin County Florida activity remained strong for July after a super spring.  Both closed and pending sales declined slightly for this month.  The inventory of available homes for sale also declined again, now at levels approaching those during the height of the real estate boom in the mid 2000’s.  Still good numbers and market activity remains active, more so than the past few years.

The current absorption rate is 6.6 months, which is considered to be a balanced market that doesn’t favor either sellers or buyers.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, July 2012

Stuart Florida Market Report ZIP Code 34997 – Residential, July 2012

08.19.12 by

Stuart Florida Market Report ZIP Code 34997 – Residential, July 2012

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for July 2012

 

There are currently 330 active listings (A decrease of 26 homes from June).

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222 Residential sales are pending and awaiting close or lender approval (An increase of 18 homes from June).

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50 Homes Sold in June (Down 28 homes from June)

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More strong results from the 34997 zip code area of Stuart Florida. This segment of the Martin County real estate market continues to outperform other areas of Martin County.  While closed sales were off for July, their remains a very strong number of pending sales, of which many are short sales and should eventually close in the not so distant future.  The inventory continues to decline in the 34997 zip code of Stuart, Florida and is getting close to levels not seen since the height of the boom market in the mid 2000’s.
 
 
The current one month absorption rate is 6.6 months.  This is considered to be a balanced market, favoring neither the seller or buyer.
 
 

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Stuart Florida Market Report ZIP Code 34997 – Residential, July 2012

Stuart Florida Market Report ZIP Code 34996 – Residential, July 2012

08.16.12 by

Stuart Florida Market Report ZIP Code 34996 – Residential, July 2012

 

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for July 2012

 

 

For July, 2011 in the Stuart Florida Market Report ZIP Code 34996 Florida :

There are currently 166 active listings (An increase of 7 homes from June).

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28 Residential sales are pending and awaiting close or lender approval (Down 4 from June).

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11 Homes Sold in July (Up 3 from June).

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The 34996 zip code area of Stuart Florida showed a modest increase in sales for July as compared to last month while inventory saw a small increase.  Pending sales were off slightly.   We continued to have some excellent sales in the higher price brackets this month, continuing a trend from June.

The one month absorption rate for the 34996 zip code area of Stuart Florida is now 15 months, which still has plenty of room for improvement.  Abalanced market, favoring neither buyer or seller is considered to be around a 6 month absorption rate.

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Stuart Florida Market Report ZIP Code 34996 – Residential, July 2012

Sewalls Point Residential Market Report July 2012

08.15.12 by

Sewalls Point Residential Market Report July 2012

Sewalls Point Real Estate Snapshot, Residential Sales for July 2012

There are currently 56 active listings (a decrease of 9 homes for sale from April)

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14 Residential sales are pending and awaiting close or lender approval (A decrease of 4 from April)

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5 Homes sold in April (Down 1 from April)

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The Sewalls Point market report for July 2012 remained pretty static compared to last months numbers with the exception of one less home for sale.  Whether this is a sign of the sold listings or sellers waiting for the season to sell, remains to be seen.   One high end home sold for $2,900,000 last month and the other four sales ranged from the 300’s to the 500’s price range.  Both pending and sold numbers remain unchanged from June.

Comparing the results to July of 2011, the inventory slightly higher this year as there were 52 homes on the market last year, pending sales were 15, and no homes sold.  Considerably better numbers this year as the Sewalls Point real estate market is showing signs of a rebound.

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Sewalls Point Market Report – Residential, July 2012

Martin County Florida Residential Market Report for June 2012

07.30.12 by

Martin County Florida Residential Market Report for June 2012

Commentary:

The Martin County Florida residential market report for June 2012 showed excellent results. The sales volume of 189 homes continues to surpass recent years.  Along with strong numbers this spring, it certainly indicates that the market is turning for the better.  If this rate of activity continues, I expect to see a strong sellers market developing.

Both average and median sales prices were down slightly from the excellent May results.  This is an indication of the mix of homes sold, rather than either a decrease or increase in home values overall.  We are seeing some segments of our market with slowly rising prices.  More specifically some of the newer homes in developments that were hardest hit in the market over the past few years.

The inventory is now down to 1154 homes, down from the 1391 homes that were on the market in June of 2011. The one month absorption rate is now at 6.11 months, while the three-month average is down to 6.36 months.  This indicates a balanced market, favoring neither seller or buyer.

One issue coming up recently is the shortage of quality inventory.  Many buyers are just not finding the homes they desire as our inventory has decreased to such low levels.  Those that need to buy will settle for something that they can make work.  For the more discretionary buyer, they continue to wait for that ‘right’ home to come on the market.

Martin County Florida Residential Market Report for June 2012

the Gabe Sanders real estate team

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

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Palm City Florida Market Report ZIP Code 34990 – Condo, June 2012

07.27.12 by

Palm City Florida Market Report ZIP Code 34990 – Condo, June 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for June 2012

For June 2012 in the 34990 Zip Code area of Palm City, Florida :

There are currently 66 active condo listings. (Unchanged from May)

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

3 Condos Sold in June. (Up 1 from May)

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.  For June, there was fair activity for this market.  The inventory declined.  Pending sales were down from May, and there was a small increase in sales  But, with the fairly small market base, we don’t expect to see any major shifts in the market.
Last years numbers for the Palm City (34990 zip code area) Condo market were 56 active listings, 7 pending sales and 3 closed sales.  As opposed to all of our Martin County markets, inventory is higher from last year.  Sales and pending activity remains virtually unchanged.

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Palm City Florida Market Report ZIP Code 34990 – Condo, June 2012