For June 2014 in the 34997 Zip Code area of Stuart, Florida :
There are currently 67 active condo listings (Down by 7 condos from May).
28 Condo sales are pending and awaiting close or lender approval (Down by 4 condos from May).
15 Condos Sold in June (Decreased by 13 condos from May).
A considerable easing of activity for the Stuart FL condo market for zip code 34997 in June of 2014. If you read my previous market reports for this segment of the Martin County market, this was not unexpected as pending sales have been decreasing over the past few months and continued to do so in June. Both closed sales as well as available inventory also continue to decrease. Though, this is still a very active market. It’s just that the super strong Spring activity is not sustainable for this area for the summer.
The one month absorption rate is now 4.7 months from last months 2.6. Still in a sellers market. A 6 to 7 month absorption rate is typically considered to be a balanced market that favors neither the buyer nor the seller.
The June 2012 numbers were: 77 active listings, 32 pending sales and 8 closed sales. Continuing to be a better market tha last year and slowly getting back into a more sustainable activity level.