Stuart FL 34997 Residential Market Report May 2018

STUART FLORIDA REAL ESTATE Snapshot for ZIP Code 34997, Residential Sales for May 2018

For May 2018 in the 34997 Zip Code area of Stuart, Florida:

There are currently 259 active listings (Decreased by 17 homes from April).

156 Residential sales are pending and awaiting close or lender approval (Decreased by 10 homes from April).

93 Homes Sold in May (Increased by 9 homes from April)

      The Stuart Florida Residential Market for ZIP Code 34997 remains very active.  There is strong sales and pending activity.  Unfortunately, the number of homes available to purchase continues to decline and this will have an impact on future sales volume.

 

     The absorption rate decreased to 2.8 months (was 3.3 months for April).  Remaining in a very strong seller’s market for the 34997 zip code area of Stuart for May 2018.  Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7-month absorption rate.

 

     The 2017 numbers for May, were: 291 active listings, 168 pending listings, and 104 closed sales. There was better activity last year, but this was with a considerably greater number of homes for sale (inventory).