Orchid Bay Palm City FL April 2017 Market Report

Orchid Bay Palm City FL April 2017 Market Report

There are currently 2 homes listed for sale in Orchid Bay.  List prices ar $$409,900 and $568,888,  for an average list price of $489,394 which is $156.30 per sq. ft. of living area.

2 homes are under contract and awaiting sale.  The list prices are $489,999 and $625,000 which average to $557,500 and is $190.60 per sq. ft. of living area. These three homes averaged 99 days on the market before going under contract.

In the past 12 months, 5 homes have sold in Orchid Bay.  Sales prices ranged from $436,000 up to $637,500 for an average sold price $508,820 which works out to $171.94 per sq. ft. of living area.  These 5 homes averaged 150 days on the market before the sellers accepted an offer and sold for an average of 98% of the listed price.

Orchid Bay Entrance 2About Orchid Bay:

One of the most desirable communities in Palm City, Orchid Bay (also known as Captain’s Creek) lies just south of the new Palm City Veteran’s Memorial Bridge off of Mapp Road.  This gated community of 153 home-sites (including only two vacant lots at this time) enjoys spacious private lots of at least a ½ acre with a few properties residing on over 1 acre sites.  This planned community was developed by the Tartan land Company in the early 1990’s and all homes are individually constructed by the lot owner’s builder of choice.  Consequently this is not a “cookie cutter” community by any means.

Orchid Bay Home 4

Homes range in size from over 5,000 sq. ft. of living area to just over 2,000.  From as many as 8 bedrooms down to 3 bedroom homes.  Both one and two story residences. Homes were built from 1992 through 2007.  Amenities include tennis courts, a picnic and playground area as well as a public gazebo.  Numerous lakes and ponds are on this property with many homes enjoying serene water views.  Orchid Bay has its own community propane tank so all residents have the option of hooking in for propane utilities if desired.

Orchid Bay Pool with Lake View

HOA fees at the time of this writing (April 2017) are $187.00 per month (payable quarterly).   These fees include maintenance of the roads, trash pickup, common areas as well as basic cable TV service.

Orchid Bay Playground

Children of Orchid bay attend wonderful schools:  Palm City Elementary, Hidden Oaks Middle and Martin County High.

Orchid Bay Home 1

Search here for all available Orchid Bay Homes for Sale

For any questions you may have about Orchid Bay, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

Palm City Florida Real Estate
Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Orchid Bay Palm City FL April 2017 Market Report

Palm City FL 34990 Condo Market Report March 2017

Palm City FL 34990 Condo Market Report March 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for March 2017

 

For March 2017 in the 34990 Zip Code area of Palm City, Florida :



There are currently 95 active condo listings. (Increased by 3 condos from February)

   Palm City FL 34990 Condo Market Report March 2017

10 Condo sales are pending and awaiting close or lender approval. (Down by 1 condos from last month)

Palm City FL 34990 Condo Market Report March 2017

4 Condos Sold in March. (Down by 2 condos from February)

Palm City FL 34990 Condo Market Report March 2017

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For March of 2017 activity decreased for both pending and closed sales and there’s quite a lot of room for improvement in this segment of the Martin County condo market.

The current absorption rate for condos in the 34990 zip code area jumped to 23.8 months (was 15.3 months in March). A very strong buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The March 2016 numbers were: 65 active listings, 15 pending sales and 4 closed sales.   Similar activity this year but with a much larger inventory.
Palm City FL 34990 Condo Market Report March 2017

Stuart Florida Real Estate presented by:
Gabe Sanders

 

Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City FL 34990 Condo Market Report March 2017

Palm City FL 34990 Residential Market Report March 2017

Palm City FL 34990 Residential Market Report March 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for March 2017

 

For March 2017 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 449 active listings (Increased by 4 homes from February)

Palm City FL 34990 Residential Market Report March 2017

165 Residential sales are pending and awaiting close or lender approval. (Up by 30 homes from last month)

Palm City FL 34990 Residential Market Report March 2017

81 Homes Sold in February (Up by 25 homes from February)

Palm City FL 34990 Residential Market Report March 2017

The Palm City FL, zip code 34990 residential real estate market was very strong for March of 2017 going back into a sellers market and also with a good increase in pending sales for future activity.
The monthly absorption rate dropped to 5.3 months from 7.9 months in February.  Back into a sellers’ market for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The March 2016 numbers were:  399 active listings, 179 pending sales and 80 closed sales.  Very similar activity to last March with a slightly lower pending volume and greater inventory.

Palm City FL 34990 Residential Market Report March 2017

 Search here for Palm City Florida Real Estate for Sale:

Palm City Florida Real Estate presented by:
the Gabe Sanders real estate team

 

Palm City FL 34990 Residential Market Report March 2017

Osprey Creek April 2017 Market Report

Osprey Creek April 2017 Market Report

For April 2017 there were no homes listed in the Osprey Creek community of Martin Downs Country Club in Palm City FL.

There are also no homes currently under contract.

In the past 12 months, 2 homes have sold.  The sales prices were $190,000 and $202,500 which equals an average sale price of $196,250 or $122.14 per sq. ft. of living area.  These two homes were on the market for an average of 163 days before going under contract and sold for an average of 90% of list price.

About Osprey Creek in Martin Downs Country Club

Osprey Creek in Martin Downs Country Club

The Osprey Creek section of Martin Downs Country Club has 41 homes located on the Martin Downs Country Club Golf Course. Homes consist of both 2 and 3 bedroom single family homes ranging in size from 1,714 to 1,542 square feet of living area. All of the homes include a single car garage. As of January, 2017 the HOA fees were $240 per month. These fees include security, landscaping and lawn maintenance, exterior pest control, trash pickup and basic cable TV service.

Osprey Creek in Martin Downs Country Club Osprey Creek in Martin Downs Country Club

Martin Downs is a guard gated community that offers memberships for golf, tennis and social. Two large pools, workout room, Tiki Sports Bar and Main Dining Room. A rated schools, Public Parks, Dining, Entertainment, Boating, Fishing, Horseback Riding and other activities just minutes away.

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Sawgrass Villas Palm City April 2017 Market Report

Sawgrass Villas Palm City April 2017 Market Report

For April 2017 there are no townhomes available for sale in the Sawgrass Villas community of Palm City Florida.

There is one townhome that is under contract.  The list price was $204,900 which is $126.40 per sq. ft. of living area.  This home was on the market for 15 days before going under contract.

In the past 12 months 8 homes have sold.  Sales prices ranged from $197,000 up to $227,500 for an average sales price of $212,063 which works out to $116.21 per sq. ft. of living area.  These homes sold for 96% of list price and averaged 31 days on market before going under contract.

About the Sawgrass Villas in Palm City:

Sawgrass Villas in Palm City

Built in 2005, the Sawgrass Villas of palm City are one of the few newer affordable townhome style condos in the area.  There are 52 units with two different floor plans.  All are 3 bedroom, 2 bathroom with either 2.079 sq. ft. of living area for the larger floor plan or 1,621 sq. ft. for the smaller ones.  With a rare exception all of these townhouses have a 1 car garage.

Sawgrass Villas in Palm City

Great location within walking distance to shopping and some restaurants and an easy drive to historic downtown Stuart and the beaches of Martin County or to Florida’s Turnpike for those needing to get to points north or south.

Sawgrass Villas in Palm City Sawgrass Villas in Palm City

The HOA fees (March 2017) are a very reasonable $365 per month as this includes building maintenance and insurance, landscaping, trash pickup, Cable TV,  and exterior pest control.

Sawgrass Villas in Palm City

Live the easy maintenance and worry free life in these solid concrete townhomes featuring hardi-plank siding and metal roofs.

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