Palm City FL 34990 Condo Market Report July 2014

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

 

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

There are currently 59 active condo listings. (Up by 3 condos from June)

 

6 Condo sales are pending and awaiting close or lender approval. (Increased by 1 condo from last month)

 

1 Condos Sold in July. (Down by 2 condos from June)

 

The Palm City FL 34990 condo real estate market continues to struggle with weak numbers.  The inventory rose again while closed sales declined to a single sale for July.  Pending sales improved by one unit, though it’s still a anemic number.  The Palm City condo market is quite small and inferences into the more general condo market should not be made.

The current absorption rate for condos in the 34990 zip code area rose to 59 months (was 18.7 months in June).   A strong 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 July 2013 numbers were: 54 active listings, 9 pending sales and 6 closed sales.   Considerably better activity in 2013 as compared to this July.