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

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

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

There are currently 57 active condo listings. (Down by 6 condos from February)

11 Condo sales are pending and awaiting close or lender approval. (Increased by 5 condo from last month)

1 Condos Sold in March. (Down by 5 condos from February)

Other than an increase in pending sales, a pretty dismal March for the condo segment of the Palm City FL real estate market for zip code 34990.  Only 1 closed sale and a loss of all the gained inventory from last month.  But please keep in mind that this is a very small segment of the Palm City market as this area is primarily single family homes.  Trends are good to watch but a meaningful interpretation from monthly swings in values is difficult to determine.

The current absorption rate for condos in the 34990 zip code area zoomed to 57  months (was 10.5 months in February).   An extreme 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 March 2012 numbers were: 63 active listings, 9 pending sales and 5 closed sales.   Better closed activity last year.  Hopefully this market will pick up for the spring.