Stuart FL 34994 Condo Market Report February 2015

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for February 2015

For February 2015 in the 34994 Zip Code area of Stuart, Florida :

There are currently 95 active condo listings (Down by 16 condos from January).

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

12 Condos Sold in February (Up by 3 condos from January).

The Stuart FL 34994 Condo market showed some excellent activity for February.   Inventory declined and both pending and closed sales showed improvements.

The one month absorption rate increased to 7.9 months compared to last month’s 12.3.  Still a buyer’s market but getting closer to a balanced one. Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last February the numbers were 130 active listings, 40 pending sales, and 17 closed sales.  Considerably less inventory for this year compared to 2014, but activity is still on a pra with last years numbers.

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Stuart FL 34994 Condo Market Report January 2015

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for January 2015

For January 2015 in the 34994 Zip Code area of Stuart, Florida :

There are currently 111 active condo listings (Up by 16 condos from December).

35 Condo sales are pending and awaiting close or lender approval. (Increased by 6 condos from last month) 

9 Condos Sold in January (Down by 1 condos from December).

The Stuart FL 34994 Condo market continued a bit of a slide for January.  We did get a nice jump in inventory which often happens for condos as we approach the snowbird season in South Florida.  A small increase in pending sales was also welcome, though closed sales are not keeping pace with the market at least for January.

The one month absorption rate increased to 12.3 months compared to last month’s 9.5.  Further into a buyers market after several months of being in a sellers market.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last January the numbers were 121 active listings, 46 pending sales, and 12 closed sales.  Overall, less activity for this year when compared to 2014.

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Stuart FL 34994 Condo Market Report December 2014

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for December 2014

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

There are currently 95 active condo listings (Up by 5 condos from November).

29 Condo sales are pending and awaiting close or lender approval. (Increased by 2 condos from last month) 

10 Condos Sold in December (Down by 8 condos from November).

The Stuart FL 34994 Condo market took a small breather for the month of December.  Inventory remains low, though we dis have a small increase for the month.  I would anticipate more of an increase as we come into the spring market.  Closed sales were off considerably and pending sales remained positive.

The one month absorption rate decreased to 9.5 months compared to last month’s 5.  Back into a buyers market after several months of being in a sellers market.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last December the numbers were 119 active listings, 39 pending sales, and 9 closed sales.  Similar activity for closed sales as last year, but still a lower inventory.   Pending sales were better last year.

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