Stuart Florida Market Report ZIP Code 34994 Condo, July 2013
Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for July 2013
For July, 2013 in the 34994 Zip Code area of Stuart, Florida :
There are currently 109 active condo listings (Decreased by 3 condo from June).
53 Condo sales are pending and awaiting close or lender approval. (Up by 1 condo from last month)
11 Condos Sold in July (Decreased by 6 condos from June).
We’re in the off season for the Stuart Condo market for zip code 34994. Surprisingly pending sales increased by 1 condo while closed sales decreased by 6 units. The inventory decline continues, by three condos this month. It is a fairly seasonal condo market and we often see inventory declines in the summer months with an expected increase in late fall as the snowbird season begins.
The one month absorption rate rose to to 9.6 months, once again a buyers 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 July the numbers were 153 active listings, 30 pending sales, and 17 closed sales. Closed sales were off a little as compared to last year, but inventory is off by more than 30%, yet the pending numbers are considerably better.
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 Real Estate presented by:
the Gabe Sanders real estate team