Palm City Florida Market Report ZIP Code 34990 – Condo, December 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for December 2012

 

For December 2012 in the 34990 Zip Code area of Palm City, Florida :

There are currently 63 active condo listings. (An increase of 2 condos from November)

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8 Condo sales are pending and awaiting close or lender approval. (Down 2 condos from last month)

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3 Condos Sold in December. (Down 2 sales for November)

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The 34990 zip code area of Palm City condo market is a fairly small section of this area as most property in Palm City is either single family homes or town homes.  Thus making meaningful market comparisons somewhat difficult as small changes can have a great effect on the percentages and results.  For December, sales were off to 3 closed, from 5 the previous month. Pending sales were also off slightly.  The inventory of available condos for sale has taken another small increase for the second month in a row.

 

The current absorption rate for condos in the 34990 zip code area is 21 months.  A very strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.

 

The December 2011 numbers were: 65 active listings, 3 pending sales and 1 closed sales.   Better activity this year as compared to the end of 2011.