Palm City FL 34990 Condo Market Report May 2014

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

 

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

There are currently 52 active condo listings. (Down by 1 condo from April)

10 Condo sales are pending and awaiting close or lender approval. (Increased by 2 condos from last month)

4 Condos Sold in May. (Down by 3 condos from April)

Unfortunately closed sales were off for may 2014 in the Palm City FL 34990 condo real estate market.  Pending sales were up and inventory was down.  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 13  months (was 7.6 months in April).   A 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 May 2012 numbers were: 52 active listings, 16 pending sales and 3 closed sales.   Similar numbers to last year, but the decrease in pending sales this year is a note for concern for future activity.