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

07.23.12 by

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

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

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

There are currently 266 active listings. ( A decrease of 19 homes from May)

93 Residential sales are pending and awaiting close or lender approval (A decrease of 6 homes from May)

46 Homes Sold in June (An increase of 3 homes from last month)

The Hobe Sound real estate market (ZIP Code 33455) remained active for June. The inventory decreased again.  Now only 266 active listings. Closed sales remained strong and pending sales also showing good future sales providing they close in the near future. The Hobe Sound market has maintained better strength through the late spring season than most segments of the Martin County real estate market.

Last year, in June of 2011, we had 378 active listings, 72 pending sales and 38 closed sales.  A considerably stronger market this year with no signs of anything other than a slight seasonal slow down in the future.

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

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

07.21.12 by

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

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

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

There are currently 441 active listings (A decrease of 21 homes from May)

189 Residential sales are pending and awaiting close or lender approval. (A decrease of 14 homes from last month)

70 Homes Sold in June (Decreased 11 homes from May)

For the Palm City, zip code 34990, area of Martin County Florida, activity slowed some from the very strong spring.  Both closed and pending sales declined, while the inventory also continued to shrink.  Still good numbers and market activity remains active, more so than the past few years.

Comparing these numbers to June of 2011, when there were 503 active listings, 132 pending sales and 56 homes sold.  Much better market activity for Palm City this year than in the past few years.  Definitely an improving market.

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

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

07.19.12 by

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

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

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

There are currently 121 active listings. (Down 18 homes from last month)

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

25 Homes Sold (Up 7 homes from May)

After two fairly slow months for the Jensen Beach residential real estate market, zip code 34957, June showed better results.   Inventory was down and both pending and closed sales rose.  Much more in line with the rest of Martin County.  There was also an excellent distribution of price ranges for the closed sales.

The June 2011 numbers were 163 active listings, 77 pending sales and 12 closed sales.  Considerably improved numbers this year with a significantly lower inventory fro the Jensen Beach residential real estate market (ZIP Code 34957).

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

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

07.17.12 by

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

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

There are currently 356 active listings (A decrease of 33 homes from May).

204 Residential sales are pending and awaiting close or lender approval (A decrease of 21 homes from May).

78 Homes Sold in May (Up 25 homes from May)

More good results from the 34997 zip code area of Stuart Florida. This segment of the Martin County real estate market has had an exceptionally strong spring! Inventory took another large drop again in June.  Pending and closed sales were also off somewhat from May’s exceptionally strong results.  The activity is still strong though and compared to last year’s numbers (see below), still very positive.
In June of 2011, there were 528 active listings, 164 pending sales, and 60 closed sales, for the 34997 zip code for Stuart, Florida.

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

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

07.15.12 by

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

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

For June 2011 in the 34996 Zip Code area of Stuart, Florida :

There are currently 159 active listings (A decrease of 14 homes from May).

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

8 Homes Sold in June (Down 26 from May).

The 34996 zip code area of Stuart Florida showed fewer sales for June as compared to last month while inventory continues to decline and pending sales remained steady.  Home sales averaged much better price numbers than for the past months and last year as higher-priced homes sold in May.

Comparing the numbers to June 2011, there were 167 active listings, 33 pending and 6 closed sales.  Very similar numbers to this year with less inventory available this year.

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

Sewalls Point Market Report – Residential, June 2012

07.09.12 by

Sewalls Point Market Report – Residential, June 2012

Sewalls Point Real Estate Snapshot, Residential Sales for June 2012

There are currently 57 active listings (a decrease of 9 homes for sale from April)

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

5 Homes sold in April (Down 1 from April)

The Sewalls Point market report for June 2012 remained pretty static compared to last month’s numbers with the exception of a lower inventory.  Whether this is a sign of the sold listings or sellers waiting for the season to sell, remains to be seen.  The sales in June were mostly good value sales with 4 out of 5 above the $500,000 selling price.  Homes that are well-presented and fairly priced are selling.

Comparing the results to June 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, June 2012

Legacy Cove in Stuart Florida

07.05.12 by

Legacy Cove in Stuart Florida

Legacy Cove in Stuart Florida is a gated lakeside community of 229 homes off of Cove Road in Stuart, Florida.  Legacy Cove consists of two sections. The first section of 142 homes called the Cove Isle development was mostly completed between 2004 and 2005.  The newer section, called the Cove Lakes development consists of 87 home sites with construction that began in 2007.  Some homes are yet to be completed in Cove lakes.

There’s a wide variety of homes in Legacy Cove, ranging for the smallest, a 3 bedroom, 2 bathroom, 2 car garage with a little under 1,600 square feet of living area to  4, possible 5 bedroom, 3 and a 1/2 bathroom, 3 car garage two story homes with almost 4,000 square feet of living area.  And many sizes in between.

Legacy Cove boast a community pool and club house with a fitness center as well as two hard surfaced tennis courts.  Many homes in Legacy Cove in Stuart Florida have serene lake views and a comfortable private feeling.  Located just minutes from I-95, this is a great location for those wishing to take advantage of Martin County’s amenities while still having an easy commute to work either north or south.

Legacy Cove is in an ‘A’ Martin County school system with children currently attending Pinewood elementary school, Dr. David L Anderson middle school and Martin County high school.

The HOA fees are very reasonable at $688.00 per quarter.  Management of the community is through Bristol Management of Stuart.

Residents of Legacy Cove in Stuart Florida enjoy a relaxing life style with easy access to restaurants, shopping and the many waterways, beaches and public parks that Martin County has to offer.

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Legacy Cove in Stuart Florida

Lake Tuscany in Stuart Florida

07.03.12 by

Lake Tuscany in Stuart Florida

Lake Tuscany in Stuart Florida is a newer subdivision just to the west of I-95 in Martin County, Florida.  The homes in Lake Tuscany were mostly completed between 2004 to 2005.  This attractive subdivision is set up with a gated entrance and all 98 homes in Lake Tuscany are on Panther Trace which makes a large circle around the lake in the center.  Homes range from 3 Bedroom, 3 Bath or 4 BR 2 Baths of around 2100 sq. ft. of living area to spacious 6 Bedroom, 4 Bathroom 2 story homes with lofts and theater rooms with pools by the lakeside along with 3 car garages.  All are high quality homes built by local builder Mercedes Homes.

Lake Tuscany boasts lush landscaping and very reasonable Home Owner’s Association fees of $398 per quarter.  These fees cover security, the common areas and lake upkeep, basic cable, trash collection and front landscaping.  The Lake Tuscany property owners web site is located at this site.

Families in Lake Tuscany enjoy Martin County’s ‘A’ rated schools in the following schools: Crystal Lake Elementary, David L Anderson Middle School and South Fork High School.  Shopping is only minutes away and there’s easy access to Martin County’s waterways and just a short drive to the many public beaches.

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Lake Tuscany in Stuart Florida

Martin County Florida Residential Market Report for May 2012

06.29.12 by

Martin County Florida Residential Market Report for May 2012

Commentary:

The Martin County Florida residential market report for May 2012 showed surprisingly results. The sales volume of 213 homes was the highest since August of 2005, well before the so-called ‘bubble’ burst.  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.  The one month absorption rate for Martin County residential sales is now down to 5.7 months.  This indicates a balanced market, favoring neither seller or buyer.

Both average and median sales prices were up considerably from April. The largest jump in years.  This is not necessarily an indication of rising prices (though some segments of our real estate market are indeed experiencing rising prices), rather, more mid to higher priced homes are selling moving both average and median prices higher.  If it weren’t for the relatively large numbers of short sales, and for Martin County, some foreclosures offered at distressed prices, values would be going higher.  These distressed sales along with a still uncertain economy are holding back prices for now.

Our outlook for Martin County is very optimistic as prices and rates remain at historic low levels. For sellers, homes are selling, and if priced and presented optimally, they are going quickly and for good prices. Buyers are seeing historically low-interest rates and very affordable quality homes in almost all price ranges.  Many buyers, thinking bargains are still to be had are finding themselves outbid over and over again and until they understand the current reality will be out of luck finding that elusive deal.

Martin County Florida Residential Market Report for May 2012

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

06.26.12 by

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

 

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

 

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

There are currently 285 active listings. ( A decrease of 30 homes from April)

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99 Residential sales are pending and awaiting close or lender approval (A decrease of 8 homes from April)

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43 Homes Sold in May (A decrease of 4 homes from last month)

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The Hobe Sound real estate market (ZIP Code 33455) continued very strong results into May 2012. The inventory decreased significantly this month by 30 homes, while closed sales remained strong and pending sales also showing good future sales providing they close in the near future. The Hobe Sound market has maintained better strength through the late spring season than most segments of the Martin County real estate market.

Last year, in May of 2011, we had 379 active listings, 93 pending sales and 30 closed sales. Considering the fact that there’s almost 100 less homes on the market and sales and pending sales are still better than in 2011, the market in Hobe Sound appears to be healthy and improving.

 

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

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

06.24.12 by

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

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

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

There are currently 139 active listings. (Up 5 homes from last month)

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

18 Homes Sold (Down 15 from April)

A second slower month for the Jensen Beach residential real estate market, zip code 34957.  Inventory rose incrementally, pending sales were up also, but sales were off by almost 50% from last month.  After a strong spring, it appears we may be off to a slower summer, though the pending sales activity is strong and could reflect in good sales for the coming months if they all close.
The May 2011 numbers were 165 active listings, 71 pending sales and 23 closed sales.  Sales were higher last year, but with a considerably larger inventory, so as a percentage, fairly similar if not marginally better numbers for the May 2012 Jensen Beach residential real estate market (ZIP Code 34957).

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

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

06.23.12 by

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

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

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

There are currently 66 active condo listings. (Down 2 from April)

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

2 Condos Sold in May. (Up 1 from April)

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 May, there was good activity for this market.  Inventory continues to decline.  Both pending and closed sales were up from last month.  For this segment of the Martin County real estate market, we expect to see continued steady activity.  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 58 active listings, 10 pending sales and 2 closed sales.  As opposed to most Martin County markets, inventory is slightly higher from last year.  However, the sales activity has also improved slightly.

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

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

06.22.12 by

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

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

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

 

There are currently 462 active listings (An increase of 12 homes from April)

203 Residential sales are pending and awaiting close or lender approval. (A decrease of 25 homes from last month)

70 Homes Sold in May (Increased 21 homes from April)

For the Palm City, zip code 34990, area of Martin County Florida, the strong April continued into May with excellent closed sales.  Pending sales decreased in May which may indicate some slower closed sales in the months ahead.  Inventory was also up slightly as more home owners may realize that this could be an excellent time to sell their home.

Comparing these numbers to May of 2011, when there were 532 active listings, 129 pending sales and 61 homes sold.  Showing an all around improvement from last year, though only moderately better.  Interest levels for buyers remains high in the Palm City market and we are looking for continued strong activity in this market.

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

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

06.20.12 by

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

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

There are currently 389 active listings (A decrease of 18 homes from April).

225 Residential sales are pending and awaiting close or lender approval (A decrease of 20 homes from April).

92 Homes Sold in April (Up 25 homes from April)

More good results from the 34997 zip code area of Stuart Florida. This segment of the Martin County real estate market has had an exceptionally strong spring! Inventory took another drop again in May while pending sales also dropped, most likely reflecting the decrease of seasonal home buyers on the Treasure Coast.  Sales rose to a solid 92 homes for May!  The best month in closed sales for one segment of the market in many, many years.

In May of 2011, there were 548 active listings, 173 pending sales and 53 closed sales, for the 34997 zip code for Stuart, Florida.  Even with almost 150 fewer homes available for sale, closed sales almost doubled for 2012.  A very good case can be made that the market has turned in Stuart, Florida.

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

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

06.18.12 by

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

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

For May 2011 in the 34996 Zip Code area of Stuart, Florida :

There are currently 173 active listings (An increase of 8 homes from April).

33 Residential sales are pending and awaiting close or lender approval (Down 14 from April).

34 Homes Sold in May (Up 26 from April).

The 34996 zip code area of Stuart Florida had an excellent May in terms of closed sales. Pending sales, however, declined and will probably be a predictor of some easing in closed sales for the summer months ahead.  The inventory rose slightly from last month, making a few additional homes available for buyers.

Comparing the numbers to May of 2011, there were 183 active listings, 31 pending sales and 8 closed sales. With the exception of a much better sales activity for may of 2012, the remaining market activity is fairly similar to last May.

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

Sewalls Point Residential Market Report for May 2012

06.15.12 by

Sewalls Point Residential Market Report for May 2012

Sewalls Point Real Estate Snapshot, Residential Sales for May 2012

There are currently 66 active listings (an increase of 3 homes for sale from April)

18 Residential sales are pending and awaiting close or lender approval (A decrease of 1 from April)

6 Homes sold in April (Up 4 from April)

For the  Sewalls Point market report residential, May 2012, we finally saw some signs of life.  Sales increased in May to 6 homes, of which two were over the million dollar mark and another very close.  The inventory remains fairly high and pending sales were basically unchanged from last month.

Comparing the results to May of 2011, the inventory is basically unchanged as there were 58 homes on the market last year, pending sales were 10, and 4 homes sold.  While we have better activity this year, the fairly high number of active listings will make it difficult for sellers and the opportunity is certainly available for buyers who may want to live in Sewalls Point.

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Sewalls Point Residential Market Report for May 2012

Martin County Florida Residential Market Report for April 2012

05.30.12 by

Martin County Florida Residential Market Report for April 2012

Commentary:

The Martin County Florida residential market report for April 2012 showed another healthy month. The sales volume of 166 homes was 5 homes more than last year with about 300 less homes in inventory. The one month absorption rate was down to 7.5 months while the three month moving average is now at 8.16 months.  This is up slightly from March.  The one month absorption rate is now indicating close to a balanced market.  There are still a significant amount of pending short sales that seem to be taking forever to close.  I am hoping that the lenders are not tightening up their requirements as they also see market activity improving.

Both average and median sales prices were down slightly from March.  This is the second monthly decline after a number of months of increases. This is more a reflection of the mix of homes selling for these months rather than an indication of lower values (More lower-priced homes selling). However, the specter of an increased number of distressed properties being released by the banks remains. Should a large number of foreclosures come on the market, this will further depress prices and keep the values relatively stable at best.

Our outlook for Martin County remains optimistic as prices and rates remain at historic low levels. For sellers, homes are selling, and if priced and presented optimally, they are going quickly. Buyers are seeing historically low-interest rates and very affordable quality homes in almost all price ranges.

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

Click on the individual charts to see charts in expanded mode.

Martin County Florida Residential Market Report for April 2012

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

05.27.12 by

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

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

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

There are currently 315 active listings. ( A decrease of 8 homes from March)

96 Residential sales are pending and awaiting close or lender approval (A decrease of 8 homes from March)

45 Homes Sold in April (A decrease of 4 homes from last month)

The Hobe Sound real estate market (ZIP Code 33455) continued very strong results into April 2012.  The inventory decreased again while closed and pending sales were off only slightly from a strong March. Compared to last April, we had 409 active listings, 89 pending sales and 47 closed sales, we are very similar to last year’s figures, but all this with almost 25% less inventory.

The Hobe Sound real estate market (zip code 33455) has an April absorption rate of 7 months, which is basically a balanced market.  A good and healthy report.

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

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

05.24.12 by

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

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

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

There are currently 135 active listings. (Up 11 homes from last month)

78 Residential sales are pending and awaiting close or lender approval. (Down 24 homes from March)

33 Homes Sold (Down 3 from March)

After a blistering March, the Jensen Beach real estate market (ZIP Code 34957) cooled off a bit for April, but still had some positive results with 33 homes sold.  A modest increase in inventory this month and an unexpected drop in pending sales are stats that we will need to keep an eye on.  Still, quite good numbers when the fairly small inventory is considered.
The April 2011 numbers were 181 active listings, 75 pending sales and 25 closed sales.  Still better than last years numbers.  If the inventory does not grow appreciably in the next few months, I’m not expecting any significant improvement for the Jensen Beach residential real estate market (ZIP Code 34957).

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

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

05.22.12 by

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

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

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



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

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

1 Condo Sold in April. (Down 2 from March)

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. Most of the condos in Palm City are not as attractive to Martin County’s seasonal buyers and tend to be more attractive to a greater number of year round residents. This segment of the market currently is treading water with small changes in all categories.  The only bright note is the single sale this month was one of the higher priced condos in the Admiralty.

Last years numbers for the Palm City (34990 zip code area) Condo market were 58 active listings, 10 pending sales and 2 closed sales.  This segment of the martin County real estate market is just not performing at this time, unlike most of our other areas as well as the residential Palm City market.

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