Stuart FL 34996 Condo Market Report October 2016
Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for October 2016
For October 2016 in the 34996 Zip Code area of Stuart, Florida :
There are currently 137 active condo listings (Up by 5 condos last month).
23 Condo sales are pending and awaiting close or lender approval (Decreased by 2 condos from September).
11 Condos Sold in October (Down by 10 condos from September)
The Stuart FL 34996 Condo Market of Stuart eased off in closed and pending sales while continuing to gain in inventory. This is not an unexpected result as we are in the slower season for condo sales which traditionally rely on the second home market.
The current absorption rate for the Stuart Florida condos in ZIP Code 34996 jumped to 12.5 months from September’s 6.3 months. A buyers market as the condo season winds down for the end of the season. A balanced market is considered to occur when the absorption rate is from 6 to 7 months.
The numbers for October 2015 were: 79 active listings, 29 pending sales and 26 closed sales. Considerably stronger condo market last year.
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