Search Results for: Palm City FL 34990 Residential Market Report

Palm City FL 34990 Residential Market Report February 2018

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for February 2018

For February 2018 in the 34990 Zip Code area of Palm City Florida :

There are currently 415 active listings (Decreased by 1 homes from January)

144 Residential sales are pending and awaiting close or lender approval. (Up by 31 homes from last month)

55 Homes Sold in January (Down by 7 homes from January)

The Palm City FL, zip code 34990 residential real estate market rebounded some from a slow January. The large increase in pending sales this month should translate into greater closed sales numbers in the coming months.

The monthly absorption rate decreased to 7.5 months from 8.7 months in January. Remaining in a buyer’s market for the Palm City zip code 34990 area for residential sales, though trending back towards a balanced market. A 6 to 7-month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The February 2017 numbers were: 445 active listings, 135 pending sales, and 56 closed sales. Better pending activity this year and similar closed sales on a reduced number of available Palm City homes for sale.

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Palm City FL 34990 Residential Market Report February 2018

Palm City FL 34990 Residential Market Report January 2018

02.16.18 by Gabe Sanders

Palm City FL 34990 Residential Market Report January 2018

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for January 2018

For January 2018 in the 34990 Zip Code area of Palm City Florida :

There are currently 416 active listings (Increased by 35 homes from December)

113 Residential sales are pending and awaiting close or lender approval. (Up by 17 homes from last month)

48 Homes Sold in December (Down by 18 home from December)

The Palm City FL, zip code 34990 residential real estate market showed a large drop in closed sales to start the year. But both inventory, as well as pending sales, rose which should result in more sales in the coming months.

The monthly absorption rate jumped up to 8.7 months from 5.8 months in December. Into a buyer’s market for the Palm City zip code 34990 area for residential sales for the first time in a while. A 6 to 7-month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The January 2017 numbers were: 421 active listings, 125 pending sales, and 52 closed sales. Slightly better activity last year, but not by much.

Are you interested in the value of your Palm City FL home?
Click on this link and fill out the form for an accurate personal evaluation