Stuart FL 34997 Residential Market Report June 2016
Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for June 2016
There are currently 299 active listings (Decreased by 5 homes from May).
173 Residential sales are pending and awaiting close or lender approval (Down by 43 homes from May).
125 Homes Sold in June (Increased by 16 homes from May)
The Stuart Florida Residential Market for ZIP Code 34997 is the largest segment of the Stuart FL residential real estate market. It is also currently the most active in terms of sales volume and shows little signs of easing up. Though, I will expect some softening for the summer months.
The absorption rate continues to drop, now down to 2.4 months (was 2.8 months for May). A very strong sellers' market for the 34997 zip code area of Stuart FL. Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7 month absorption rate.
The 2015 numbers for June, were: 257 active listings, 200 pending listings and 113 closed sales. Closed sales outpaced last years' volume though pending sales numbers are lower. Inventory is higher this year than last.
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Stuart Florida Real Estate presented by: the Gabe Sanders real estate team
Stuart FL 34997 Residential Market Report June 2016
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