Palm City Florida Market Report ZIP Code 34990 Residential September 2013

October 24, 2013/Gabe Sanders/Featured, Market Reports, Real Estate

Palm City Florida Market Report ZIP Code 34990 Residential September 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for September 2013

For September 2013 in the 34990 Zip Code area of Palm City Florida :

There are currently 379 active listings (An increase of 25 homes from August)

147 Residential sales are pending and awaiting close or lender approval. (An increase of 6 homes from last month)

48 Homes Sold in September (Decreased by 29 homes from August)

Sales were off for September in the Palm City, zip code 34990, area of Martin County Florida. Though, after many months of decreasing inventory there was a surprising jump in September by 25 homes. Pending sales were up indicating a possible greater closed sales activity for the near future.

The current absorption rate jumped to 7.9 months from 4.6 months in August. Back into a buyers market for the first time in months. A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers. I don’t expect a buyers market to last, as I think sales will be picking up soon in Palm City once again.

The September 2012 numbers were: 402 active listings, 170 pending sales and 33 closed sales. Pending sales are off from last year, but all other numbers are positive.

Please use the charts below as reference only as they rely on all residential types of property in the 34990 real estate market:

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