Stuart Florida Market Report ZIP Code 34996 – Condo, March 2013

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for March 2013

For March 2013 in the 34996 Zip Code area of Stuart, Florida :

There are currently 184 active condo listings (Down 15 from last month).

59 Condo sales are pending and awaiting close or lender approval (A decrease of 3 condos from February).

42 Condos Sold in March (Up by 22 from February)

The Stuart Florida Market Report ZIP Code 34996 for Condos was very strong for March with more than double the number of sales from last month.   Along with the increased sales, inventory has now dropped again for the second consecutive month, after three months of small inventory gains.  Pending activity dropped slightly, but was still strong.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is 4.4 months.  This market has now shifted to a sellers market for march of 2013.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for March 2012 were: 199 active listings, 58 pending sales and 23 closed sales.  Considerably stronger sales activity this year.

Stuart Florida Market Report ZIP Code 34996 – Condo, February 2013

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for February 2013

For February 2013 in the 34996 Zip Code area of Stuart, Florida :

There are currently 199 active condo listings (Down 19 from last month).

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62 Condo sales are pending and awaiting close or lender approval (An increase of 8 condos from January).

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20 Condos Sold in February (Up by 7 from January)

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The Stuart Florida Market Report ZIP Code 34996 for Condos showed some increased activity.  And, after 3 months of increased inventory, it stopped this month and went down by 19.  Pending and sold activity were both up for February.  Quite surprising that the inventory dropped with this strong activity.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is 10 months.  Still indicating a buyers’ market.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for February 2012 were: 207 active listings, 43 pending sales and 13 closed sales.  Even with a slightly lower active inventory for 2013, we’re still generating better activity than last year.

Stuart Florida Market Report ZIP Code 34996 – Condo, January 2013

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for January 2013

For January 2013 in the 34996 Zip Code area of Stuart, Florida :

There are currently 218 active condo listings (Up 2 from last month).

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54 Condo sales are pending and awaiting close or lender approval (An increase of 25 condos from December).

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13 Condos Sold in January (Down by 1 from December)

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The Stuart Florida Market Report ZIP Code 34996 for Condos showed some increased activity along with the third straight month of increasing inventory.  Pending sales were up significantly for January while sales were off by 1 condo.  For the less expensive 55+ communities, which make up a significant portion of the 34996 condo market, it’s shaping up to be an active season.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is 16.8 months.  Still indicating a strong buyers’ market.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for January 2012 were: 225 active listings, 32 pending sales and 11 closed sales.  Very similar numbers to this year with the exception of a significantly higher pending sales numbers.

Stuart Florida Market Report ZIP Code 34996 – Condo, December 2012

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for December 2012

For December 2012 in the 34996 Zip Code area of Stuart, Florida :

There are currently 216 active condo listings (Up 7 from last month).

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29 Condo sales are pending and awaiting close or lender approval (An increase of 3 condos from November).

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14 Condos Sold in December (Up by 2 from November)

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The Stuart Florida Market Report ZIP Code 34996 for Condos showed some increased activity along with the second straight month of increasing inventory.  Pending sales were up slightly which is unusual for December, which is typically a month with reduced traffic because of the holidays.  Sales were also up, though I was expecting a bit stronger closed activity to finish the year.

The current absorption rate for the Stuart Florida Market Report ZIP Code 34996 – Condo is just over 15.4 months.  Still indicating a strong buyers’ market.  A balanced market is considered to occur when the absorption rate is 6 months.

The numbers for December 2011 were: 226 active listings, 19 pending sales and 12 closed sales.  Very similar numbers to this year with the exception of a significantly higher pending sales numbers.