Stuart FL 34997 Residential Market Report August 2016
Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for August 2016
There are currently 297 active listings (Decreased by 2 homes from July).
146 Residential sales are pending and awaiting close or lender approval (Down by 13 homes from July).
78 Homes Sold in August (Decreased by 8 homes from July)
The Stuart Florida Residential Market for ZIP Code 34997 is the largest segment of the Stuart FL residential real estate market and remains very active. Though, the pace has moderated a bit from last year as well as previous months. Interestingly, the inventory of available homes is significantly higher than it was last year.
The absorption rate increased slightly to 3.8 months (was 3.5 months for July). Still a 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 August, were: 247 active listings, 174 pending listings and 79 closed sales. Our inventory is considerably larger this year, but our pending and closed sales are less than last year indicating a somewhat slower market, but this is still a strong market.
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Stuart Florida Real Estate presented by: the Gabe Sanders real estate team
Stuart FL 34997 Residential Market Report August 2016
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