Palm City FL 34990 Residential Market Report February 2015
Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for February 2015
For February 2015 in the 34990 Zip Code area of Palm City Florida :
There are currently 450 active listings (Increased by 7 homes from January)
164 Residential sales are pending and awaiting close or lender approval. (Increased by 6 homes from last month)
55 Homes Sold in January (No change in sold homes from January)
The Palm City FL 34990 residential real estate continued with some fairly sluggish sold numbers while pending sales remain quite strong, so I’m anticipating a return to a more balanced market soon. The inventory also rose for the second month in a row, giving buyers more choices of homes.
The current absorption rate jumped to 8.2 months from 8.1 months in January. The second month in a row of a buyer’s market for Palm City residential real estate. A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.
The February 2013 numbers were: 472 active listings, 131 pending sales and 49 closed sales. Better activity for 2015 than as compared to last year, which started out fairly slow after a very heated 2013.
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