Palm City FL 34990 Residential Market Report September 2016
Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for September 2016
For September 2016 in the 34990 Zip Code area of Palm City Florida :
There are currently 377 active listings (Decreased by 14 homes from August)
121 Residential sales are pending and awaiting close or lender approval. (Up by 5 homes from last month)
54 Homes Sold in August (Down by 14 homes from August)
The Palm City FL, zip code 34990 residential real estate market activity eased again for September. Closed sales were off while pending sales increased slightly. The inventory also decreased which is just the opposite of whats been happening this month in the Stuart markets.
The monthly absorption rate increased to to 7 months from 5.8 months in August. Drifting towards a buyers market for the first time in a few years 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 September 2015 numbers were: 365 active listings, 155 pending sales and 60 closed sales. Better activity last year. Hopefully this is just a monthly phenomenon and we’ll increase our Palm City single family home sales in the coming months.
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Palm City Florida Real Estate presented by:
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