Palm City FL 34990 Residential Market Report July 2016
Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for July 2016
For July 2016 in the 34990 Zip Code area of Palm City Florida :
There are currently 383 active listings (Increased by 21 homes from June)
120 Residential sales are pending and awaiting close or lender approval. (Down by 48 homes from last month)
83 Homes Sold in June (Up by 7 homes from June)
The Palm City FL, zip code 34990 residential real estate market activity continues to be very strong. Troubling for July is the sharp drop of pending sales which may indicate reduced sales volume for the near future.
The monthly absorption rate decreased slightly to to 4.6 months from 4.8 months in June. Still in a strong 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 July 2015 numbers were: 363 active listings, 162 pending sales and 71 closed sales. We have just surpassed last year’s inventory numbers and have slightly better closed sale numbers, unfortunately not so strong with the pending sales.
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Palm City Florida Real Estate presented by:
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