Stuart FL 34994 Condo Market Report June 2014

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

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

There are currently 111 active condo listings (Unchanged from May).

46 Condo sales are pending and awaiting close or lender approval. (Down by 4 condos from last month) 

23 Condos Sold in June (Down by 4 condos from May).

A little slower market activity for the Stuart FL 34994 Condo market.  Both closed and pending sales were off from May, but don’t let this fool you as this is one of the hottest areas of Martin County and Stuart.

The one month absorption rate dropped to 4.8 months compared to last month’s 4.1.  Still 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 June the numbers were 112 active listings, 52 pending sales, and 17 closed sales.   No major changes from last years activity.

Stuart Florida Condos for Sale and Sold Report 34994 ZIP Code April 2014

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

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

There are currently 111 active condo listings (Increased by 5 condos from March).

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

23 Condos Sold in April (Up by 10 condos from March).

All movement in the Stuart Condo market in zip code 34994 was positive.  One of the few segments of Martin County with such strong numbers as well as an increase in inventory.

The one month absorption rate dropped to 5  months compared to last month’s 8.5.  Back once again into 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 April the numbers were 118 active listings, 43 pending sales, and 28 closed sales.   Another equally strong April for the 34994 condo market of Stuart FL.

Stuart Florida Condos for Sale and Sold Report 34994 ZIP Code March 2014

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

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

There are currently 111 active condo listings (Decreased by 19 condos from February).

55 Condo sales are pending and awaiting close or lender approval. (Up by 15 condos from last month) 

13 Condos Sold in March (Down by 4 condos from February).

The Stuart Condo market in zip code 34994 had fewer closed sales for march than last month, however pending sales showed a nice jump which should result in some strong closed activity for the coming months.  Inventory, unfortunately dropped and is getting pretty slim in the way of available condos for buyers in the 34994 zip code area of Stuart.

The one month absorption rate rose to 8.5  months compared to last month’s 7.6.  Still a buyers market market for the 34994 zip code condo market of Stuart FL.  Though I expect this to change in the coming months.  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 March the numbers were 127 active listings, 57 pending sales, and 13 closed sales.   Quite similar to last years numbers even though inventory is less at present.

Stuart Florida Condos for Sale and Sold Report 34994 ZIP Code February 2014

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

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

There are currently 130 active condo listings (Increased by 9 condos from January).

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

17 Condos Sold in February (Increased by 5 condos from January).

The Stuart Condo market in zip code 34994 continues to show good momentum.  The only negative for February was a decrease in the number of pending sales.  Both closed sales and inventory saw gains.

The one month absorption rate dropped to 7.6  months compared to last month’s 10.1.  (Still not as strong as some months of 2013.)  Getting close to a balanced market for the 34994 zip code condo market of Stuart FL.  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 134 active listings, 50 pending sales, and 19 closed sales.   Very similar to last year, though the activity has slowed slightly for 2014 as compared to 2013.

Stuart Florida Condos for Sale and Sold Report 34994 ZIP Code January 2014

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

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

There are currently 121 active condo listings (Increased by 2 condos from December).

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

12 Condos Sold in January (Increased by 3 condos from December).

An excellent start for 2014 from the Stuart Condo market in zip code 34994.  Improved results as compared to December in all categories tracked here. 

The one month absorption rate dropped to 1o.1  months compared to last month’s 13.2.  (Still not as good as some of the strong months of 2013.  This is still a buyer’s market for the 34994 zip code condo market of Stuart FL.  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 173 active listings, 68 pending sales, and 9 closed sales.   This is one of the few segments of our market with a noticeably smaller inventory as compared to last year.  Yest comparative activity is quite strong when the reduced inventory is factored in.

Stuart Florida Condos for Sale and Sold Report 34994 ZIP Code December 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for December 2013

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

There are currently 119 active condo listings (Increased by 1 condo from November).

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

9 Condos Sold in December (Decreased by 11 condos from November).

After a good November market for the 34994 condo market, December turned out quite disappointing.  Sales were off by over 50% from November and pending sales also declined slightly.  Inventory was up marginally.

The one month absorption rate jumped up to 13.2 months compared to last month’s 5.9.  Back into a strong buyer’s market for the 34994 zip code condo market of Stuart FL.  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 153 active listings, 35 pending sales, and 14 closed sales.   With the lower inventory factored into the numbers, very similar to last year’s activity.

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market:

Stuart Florida Market Report ZIP Code 34994 Condo, November 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for November 2013

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

There are currently 118 active condo listings (Decreased by 3 condos from October).

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

20 Condos Sold in November (Increased by 6 condos from October).

A small and welcome increase in activity for the Stuart Condo market for zip code 34994.   Pending sales remained virtually unchanged while we had a nice rise in closed sales to 20 condos.  The inventory which rose the past two months, was once again down.

The one month absorption rate rose to 5.9 months compared to last months 8.6.  A marginal sellers’ market for the 34994 zip code condo market of Stuart FL.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last November the numbers were 153 active listings, 42 pending sales, and 11 closed sales.   Better activity this year than last, especially when considering the greatly reduced number of available condos for sale.

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market:

Stuart Florida Market Report ZIP Code 34994 Condo, October 2013

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for October 2013

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

There are currently 121 active condo listings (Increased by 2 condos from September).

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

14Condos Sold in October (Decreased by 1 condo from September).

For the summer season in the Stuart Condo market for zip code 34994 both pending and closed sales were down again for October.   The inventory grew for a second month in a row by 2 condos.  Not unexpected results as the condo market in Martin County is very seasonably dependent, though other segments of the Stuart condo market have had better activity.  We are now awaiting the ‘snowbirds’ to return and to see how they feel about buying in our market.

The one month absorption rate rose to 8.6 months compared to last months 7.9.  Back into a more pronounced buyer’s market.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last October the numbers were 143 active listings, 45 pending sales, and 13 closed sales.   When the reduced inventory is accounted for, the real estate market for condos in the 34994 zip code area of Stuart is still out-performing October 2012 activity.

Please use the charts below as reference only as they rely on all residential types of property in the 34994 real estate market: