Palm City Florida Condos for Sale and Sold Report 34990 ZIP Code April 2014

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for April 2014

 

For April 2014 in the 34990 Zip Code area of Palm City, Florida :

There are currently 53 active condo listings. (Down by 4 condos from March)

8 Condo sales are pending and awaiting close or lender approval. (Decreased by 3 condos from last month)

7 Condos Sold in April. (Up by 6 condos from March)

April saw a good improvement for closed sales for the Palm City FL real estate market for zip code 34990.  Unfortunately both pending sales and the inventory declined.  This is a pretty strong indication of slower activity for the future.  Though, this segment of the Martin County condo market is fairly small as most Palm City real estate is residential single family homes, so there is not that much of a correlation to the ‘bigger picture’ from this segment of our market.

The current absorption rate for condos in the 34990 zip code area zoomed to 7.6  months (was 57 months in March).   A buyers market.  A balanced market is considered to be an absorption rate of around 6 to 7 months, so this market continues as a strong buyers market.

The April 2012 numbers were: 58 active listings, 14 pending sales and 7 closed sales.   Slightly better activity for last year.