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

12.20.11 by

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

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

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

There are currently 60 active condo listings. (Up 1 from October)

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

1 Condo Sold in November. (A decrease of 1 condo from October)

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 townhomes.  With only 60 currently active listings, it is not a very large market.   Last year at this time there were 78 active listings, and the market was more active with 5 pending sales and 6 closed sales as compared to this year’s anemic 3 and 1 respectively.  The condo market overall remains significantly more sluggish as compared to the single-family residential market.

Speculating on the reasons for this could be the current low prices of single-family units.  The difficulty of obtaining financing for condos in this lending environment and the nervousness regarding the economy and future are being felt by the more senior set that tends to go for the condo type of housing.  Condo sales tend to be more active after the holidays and we will hopefully see an increase in activity following the holiday season.

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

Stuart Florida Market Report ZIP Code 34997 – Condo, November 2011

12.19.11 by

Stuart Florida Market Report ZIP Code 34997 – Condo, November 2011

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for November 2011

For November 2011 in the 34997 Zip Code area of Stuart, Florida :

There are currently 119 active condo listings (A decrease of 1 condo from October).

24 Condo sales are pending and awaiting close or lender approval (Up 11 from October).

5 Condos Sold in June (Down 5 from October).

Bucking the trend for the other Stuart condo area market snapshots, the Stuart condo market for the area in ZIP code 34997 showed a decrease in inventory as well as an increase in pending sales.  Unfortunately closed sales were also off.

Compared to last year, inventory is significantly reduced (179 units to the present 119).  The sales and pendings are basically unchanged.  The majority of sales in this market area remain in the lower price ranges.

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Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for November 2011

Stuart Florida Market Report ZIP Code 34996 – Condo, November 2011

12.18.11 by

Stuart Florida Market Report ZIP Code 34996 – Condo, November 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for November 2011

For November 2011 in the 34996 Zip Code area of Stuart, Florida :
There are currently 225 active condo listings (Up 12 from last month).

21 Condo sales are pending and awaiting close or lender approval (A decrease of 3 from October).

14 Condos Sold in November (A decrease of 3 condos from October)

The Stuart condo market for the area in ZIP code 34996 had another month of increased inventory for November. Also, the second month of small decreases in closed and pending sales.  Hopefully, this is just a typical seasonal slowdown as we get into the holiday months. The large increase in inventory is troubling for sellers as this may have significant downward pressure on prices for the coming winter season if this trend continues.

There were a couple of higher-priced sales this past month, which helps the average sales price report and brings those numbers up a bit.  The inventory does remain approximately 20% below the 2010 level, but unfortunately, sales, as well as pending sales, were also down.  The 2012 selling season should start to heat up in the January report (two months from now) and hopefully, the trend will be positive.

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Stuart Florida Market Report ZIP Code 34996 – Condo, November 2011

Stuart Florida Market Report ZIP Code 34994 – Condo, November 2011

12.17.11 by

Stuart Florida Market Report ZIP Code 34994 – Condo, November 2011

Stuart Real Estate Snapshot for ZIP Code 3499, Condo Sales for November 2011

For November 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 146 active condo listings (Up 11 from October).

35 Condo sales are pending and awaiting close or lender approval. (Up 4 from last month)

10 Condos Sold in November (Down 11 units from October).

Unlike the residential market in Martin County, Florida, the Stuart condo market for the area in ZIP code 34994 continues to show some weakness.  While inventory is down significantly from last year’s levels (177 units in 2010 to 146 in 2011), sales were off from the previous month as well as last year.  Inventory has also risen for the past two months.  On a positive note, pending sales were up slightly.  The vast majority of sales in this Stuart (34994 zip code market) are selling in the lower spectrum of the price range.

How much of this market trend can be attributed to the slower holiday season is not known at this point.  In the next few months, the peak season for condos will show what the market can bear for the 2012 Treasure Coast condo sales season.

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Stuart Florida Market Report ZIP Code 34994 – Condo, November 2011

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

12.16.11 by

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

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

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

There are currently 316 active listings. ( Down 12 from October)

71 Residential sales are pending and awaiting close or lender approval (Up 12 from October)

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

Bucking the trend from the rest of Martin County, the Hobe Sound real estate market (ZIP Code 33455) had a second month of decreasing inventory and increasing pending sales.  Unfortunately closed sales were down by 50% from 30 units (a strong October) to only 15 last month.

Compared to last November, we had 431 active listings, 51 pending sales and 16 closed sales.  Even with a significant decrease in inventory, sales as well as pending sales remain strong.  In addition, recent sales have tended toward more medium and upper-end price ranges which shows many higher-income buyers coming back into the market.

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

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

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, November 2011

12.15.11 by

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, November 2011

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for November 2011

For November 2011 in the 34957 Zip Code area of Jensen Beach, Florida :

There are currently 152 active listings. (An increase of 6 from last month)

80 Residential sales are pending and awaiting close or lender approval. (A decrease of 4 homes from October)

16 Homes Sold (Up 10 from October)

The Jensen Beach real estate market (ZIP Code 34957) showed a small increase in inventory this month, yet is still more than 30 homes less than last November, while still having the same number of sales as last year (an increase from last month.  Also almost 30 more pending sales from last November which is a slight decrease from last month. 

Of the closed sales in the past few months, there are a significantly higher number of homes in the medium to upper price ranges as compared to the past few years, showing a renewed interest in the medium and upper end of the market.  Provided the numbers for distressed homes don’t increase in 2012, we should see continued growth and good activity in the Jensen Beach, Florida real estate market.

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Jensen Beach Florida Market Report ZIP Code 34957 – Residential, November 2011

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

12.14.11 by

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

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

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

There are currently 468 active listings (Increased 11 homes from October)

144 Residential sales are pending and awaiting close or lender approval. (Increased 6 from last month)

36 Homes Sold in November (A decrease of 5 homes from October)

For the Palm City, zip code 34990, area of Martin County Florida, we had a second month of increasing inventory, although modest in number.  Also an increase in pending sales, but unfortunately a decrease in closed sales.  Comparing the numbers to November of 2010 when there were 608 active listings, 121 pending sales and 40 closed sales, there is significantly less inventory this year, with sales close to equal of last year as well as a higher number of pending sales.  Of the closed sales in the past few months, there are a significantly higher number of homes in the medium to upper price ranges as compared to the past few years, showing a renewed interest in the medium and upper end of the market.

Provided the numbers for distressed homes don’t increase in 2012, we should see continued growth and good activity in the Palm City, Florida real estate market.

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

Stuart Florida Market Report ZIP Code 34996 – Residential, November 2011

12.13.11 by

Stuart Florida Market Report ZIP Code 34996 – Residential, November 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for November 2011

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

There are currently 173 active listings (Up 12 from October).

28 Residential sales are pending and awaiting close or lender approval (Down 7 from October).

14 Homes Sold in November (Up 9 from October).

The 34996 zip code area pf Stuart Florida had a much better November compared to October up to 14 homes from a low of 5 in October.   Inventory also rose by 12 homes and pending sales were off, possibly reflecting a slowdown of activity during the holiday season.  Buyer traffic is remaining strong as many realize that it is an excellent market for home affordability on Florida’s Treasure Coast.

The numbers for November of 2010 were 210 active listings, 29 pending sales and 5 closed sales.  Sales have almost tripled with less inventory available.  An excellent sign for market recovery which we believe is well underway.  Depending on the status of distressed homes (short sales and bank-owned properties), we wouldn’t be surprised to see prices start to inch up in the near future.

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Stuart Florida Market Report ZIP Code 34996 – Residential, November 2011

Stuart Florida Market Report ZIP Code 34997 – Residential, November 2011

12.10.11 by

Stuart Florida Market Report ZIP Code 34997 – Residential, November 2011

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for November 2011

There are currently 527 active listings (an increase of 8 from October).

198 Residential sales are pending and awaiting close or lender approval (Up 5 from October).

42 Homes Sold in October (Down 5 from October)

Compared to October, the 34997 zip code area of Stuart Florida saw movement in the wrong direction, with inventory up for the second month in a row and both pending sales and closed sales off as well.   Of more interest, compared to November of 2010, inventory is up by about 100 homes, but sales are more than double and pending sales are almost triple last year’s numbers.

So, it appears that we are seeing a seasonal slowing of the market for the holiday season, but numbers are still dramatically higher than last year’s figures.  This is showing great promise for the year ahead.  For those waiting for prices to come back to pre-bubble values, we just don’t believe it will happen any time soon.  Housing is currently at historically affordable levels and those that can afford or qualify are making their moves.  At one point in the future, these low-interest rates are bound to go up making homes less affordable

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Stuart Florida Market Report ZIP Code 34997 – Residential, November 2011

Sewalls Point Market Report – Residential, November 2011

12.09.11 by

Sewalls Point Market Report – Residential, November 2011

Sewalls Point Real Estate Snapshot, Residential Sales for November 2011

There are currently 49 active listings (an increase of 6 homes for sale from October)

13 Residential sales are pending and awaiting close or lender approval (Down 1 from October)

3 Homes sold in November (Up 2 from October)

In November of 2011, e saw a slight increase in sales from October in the Sewalls Point, Florida real estate market.  Of note is that two of these sales were in the higher price ranges of just under $900,000 for a nonwaterfront home and above $1,200,000 for an older waterfront home.  Inventory crept up a little from last month while pending sales remain virtually unchanged (down 1).

Interestingly the active and pending numbers are almost identical to last November, but sales are up as has been the trend for most of this year.  If sales continue at the pace of last year, we may very well find a significant decrease in inventory as well as a lack of well-priced homes on Sewalls Point.  In our experience with this market, it will be difficult to convince buyers to pay a large premium for the privilege of living in this desirable neighborhood, so we may see some slowdown if the inventory doesn’t keep pace.

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Sewalls Point Market Report – Residential, November 2011

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, October 2011

11.30.11 by

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, October 2011

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for October 2011

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

There are currently 42 active condo listings. (Up 4 from last September)

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

2 Condos sold in October (Up from 0 sales in September)

The Hobe Sound condo market (Zip Code 33455) is a very small segment of both Hobe Sound real estate as well as the condo market on the Treasure Coast.  While inventory increased in October, it is still fairly low, but demand is also slack in this part of the local condo market.  With demand being so low, and high inventories in the surrounding areas, we don’t see any appreciable pressure on prices to rise in the coming months.  Should activity increase significantly in the neighboring activities, we then will predict some rising values for the Hobe Sound condo market.

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Hobe Sound Florida Market Report ZIP Code 33455 – Condo, October 2011

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

11.29.11 by

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

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

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

There are currently 328 active listings. ( Down 20 from September)

59 Residential sales are pending and awaiting close or lender approval (Up 11 from September)

30 Homes Sold in October (An increase of 9 homes from last month)

The Hobe Sound real estate market (ZIP Code 33455) had a surprisingly strong October.  After a disappointing September, all of our indexes moved in a positive direction for a strong market.

Inventory decreased, homes under contract increased and closed sales showed an increase as well.  We are expecting a bit of a slowdown as we enter the holiday season, but time will tell, as the October Hobe Sound results were a bit of a surprise.

This will be an interesting season to watch!

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Stuart Florida Real Estate presented by:
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Hobe Sound Florida Market Report ZIP Code 33455 – Residential, October 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, October 2011

11.28.11 by

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, October 2011

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for October 2011

For October 2011 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :
(Due to technical difficulties the September Market Snapshot data was unavailable)

There are currently 60 active listings. (Up 5 from September)

12 Condo sales are pending and awaiting close or lender approval. (Up 2 from September)

1 Condo Sold (A decrease of 7 condos from September)

Very disappointing results for the Jensen Beach condo market report (ZIP Code 34957).  Only 1 closed sale, a decrease in pending activity as well as an increase in supply (active listings).   Typically we are now in the slow season for this segment of the Martin County real estate market.  We may see some more rise in inventory before the activity starts to pick up, typically in the new year.  We think that the secondary vacation market for condos is currently very dependent on consumer confidence and should do well if the economy picks up.

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Jensen Beach Florida Real Estate presented by:
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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, October 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, October 2011

11.27.11 by

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, October 2011

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for October 2011

For October 2011 in the 34957 Zip Code area of Jensen Beach, Florida :

There are currently 146 active listings. (A decrease of 7 from last month)

84 Residential sales are pending and awaiting close or lender approval. (An increase of 4 homes from September)

6 Homes Sold (Down 13 from September)

The Jensen Beach real estate market (ZIP Code 34957) had disappointing closed sales numbers for October.  However, inventory declined and pending sales (homes under contract but not yet closed) were up.  This is showing a fairly stable market for this time of year.  As we head into the holiday season, numbers should remain modest as activity tends to decrease at this time of the year.  We should see a gradual increase beginning in January.

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Jensen Beach Florida Real Estate presented by:
the Gabe Sanders real estate team

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, October 2011

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

11.26.11 by

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

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

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

There are currently 59 active condo listings. (Down 2 from September)

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

2 Condos Sold in October. (An increase of 1 condo from September)

Unlike the rest of Martin County, the Palm City condo market report (ZIP Code 34990) had a decrease in inventory from last month.  Unfortunately, pending sales are very slow as well as closed or completed sales.  The Palm City condo market is slightly different from the rest of the county as the mix tends to favor more year-round residents and is less prone to the seasonal inventory increase we typically experience during the holiday season.

As long as the inventory doesn’t increase appreciably this should be a good winter for Palm City condo sales, though prices will not see an increase as of yet due to competition from the neighboring areas as well as the number of distressed sales on the market. Should the inventory increase, pricing pressure may lead to some continued decreases.

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

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Our market reports are here!

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

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

11.25.11 by

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

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

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

There are currently 468 active listings (A decrease of 14 homes from September)

138 Residential sales are pending and awaiting close or lender approval. (Increased 14 from last month)

41 Homes Sold in October (A decrease of 8 homes from September)

Other than closed sales, which were off by8 homes for October, the other trends were positive for Palm City (zip code 34990).  A decrease of inventory will make homes a bit more scarce and with the decrease in supply, prices should remain more stable than in previous months.  An increase in pending sales should mean more closed sales for the coming months.  With the holiday season coming up, we expect a decrease in activity for the season, following a gradual increase as we move into January.

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

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

Stuart Florida Market Report ZIP Code 34996 – Condo, October 2011

11.24.11 by

Stuart Florida Market Report ZIP Code 34996 – Condo, October 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for October 2011

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

There are currently 213 active condo listings (Up 25 from last month).

24 Condo sales are pending and awaiting close or lender approval (A decrease of 3 from September).

17 Condos Sold in October (A decrease of 1 condo from September)

The Stuart condo market for the area in ZIP code 34996 had a fairly significant increase in inventory in October.  This with small decreases in closed and pending sales.  Typical seasonal slowdown as we get into the holiday months.  The large increase in inventory is troubling for sellers as this may have significant downward pressure on prices for the coming winter season if this trend continues.

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Stuart Florida Real Estate presented by:
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Stuart Florida Market Report ZIP Code 34996 – Condo, October 2011

Stuart Florida Market Report ZIP Code 34996 – Residential, October 2011

11.23.11 by

Stuart Florida Market Report ZIP Code 34996 – Residential, October 2011

Stuart Real Estate Snapshot for ZIP Code 34996, Residential Sales for October 2011

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

There are currently 161 active listings (Down 16 from September).

35 Residential sales are pending and awaiting close or lender approval (Up 12 from September).

5 Homes Sold in October (Down 7 from September).

Bucking the trend for the rest of Stuart, the 34996 zip code area had fairly positive results for October 2011, with an increase in pending sales and a decrease in inventory. The only negative was a decrease in closed sales in October.  With lower inventory levels and increased pending sales, we should see some pressure on prices to remain stable for the next few months, provided we don’t have any increase in distressed sales (short sales and foreclosures).

We are rapidly approaching the holiday season.  Normally activity does slow down during this period.

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Stuart Florida Market Report ZIP Code 34996 – Residential, October 2011

Stuart Florida Market Report ZIP Code 34997 – Condo, October 2011

11.22.11 by

Stuart Florida Market Report ZIP Code 34997 – Condo, October 2011

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for October 2011

For October 2011 in the 34997 Zip Code area of Stuart, Florida :

There are currently 120 active condo listings (An increase of 8 units from September).

13 Condo sales are pending and awaiting close or lender approval (Down 3 from September).

10 Condos Sold in June (Up 6 from September).

The Stuart condo market for the area in ZIP code 34997 had a very weak September, so an increase in closed sales was welcome in October.  Unfortunately along with the increase in closed sales, there has also been an increase in inventory (also true for all other areas in Martin County) as we head into the holiday season.  Typically we see a fairly slow couple of months with activity starting to pick back up in January. 

Sellers should hope that the inventory doesn’t pick up by too much as this will have a negative influence on sales prices.

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Our market reports are here!

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

Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for October 2011

Stuart Florida Market Report ZIP Code 34997 – Residential, October 2011

11.19.11 by

Stuart Florida Market Report ZIP Code 34997 – Residential, October 2011

Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for October 2011

There are currently 519 active listings (an increase of 16 from September).

194 Residential sales are pending and awaiting close or lender approval (Up 13 from September).

47 Homes Sold in September (Down 13 from September)

October was a slow month for the 34997 zip code area of Stuart Florida.  Inventory increased for the second month in a row.  Sales were off also.  The only good news was an increase in pending sales.  Typically, October and the next few months have slower traffic and sales activity as many potential buyers and sellers are preoccupied with the holiday season.
It is interesting to note that those homes selling in under 90 days on the market continue to sell at 95% of the list price.  If a home is priced to market, it will sell in 90 days.

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

Stuart Florida Market Report ZIP Code 34997 – Residential, October 2011