Stuart FL 34996 Condo Market Report July 2014

Stuart FL 34996 Condo Market Report July 2014

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for July 2014

For July 2014 in the 34996 Zip Code area of Stuart, Florida :

There are currently 143 active condo listings (Up by 4 condos from last month).

 45 Condo sales are pending and awaiting close or lender approval (Increased by 12 condos from June).

11 Condos Sold in July (Decreased by 6 condos from June) 

Typically the summer in the Stuart FL 34996 Condo Market has reduced activity.   For July, though, there was an excellent increase in pending sales which bodes well for future closed activity.  Unfortunately closed sales were off for July which, if you’ve read my previous market reports was expected.  Inventory rose for the month as well.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 – increased to 13 months from June’s 8.2 months .  The second month of a buyers market after more than a year of strong activity.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for July 2013 were: 176 active listings, 32 pending sales and 16 closed sales.  Better closed activity last year, though the pending sales are much better for 2014.