Palm City FL 34990 Residential Market Report July 2015
Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for July 2015
For July 2015 in the 34990 Zip Code area of Palm City Florida :
There are currently 363 active listings (Increased by 5 homes from June)
162 Residential sales are pending and awaiting close or lender approval. (Decreased by 1 homes from last month)
71 Homes Sold in June (Decreased by 57 sold homes from June)
After a very strong June, the Palm City FL 34990 residential real estate market eased a bit for July. Though still excellent activity and one that is far more sustainable for the future. Of interest, is the small rise in inventory. Hopefully this will continue for the coming months.
The current absorption rate jumped up to 5.1 months from 2.8 months in June. Still a slight sellers’ market for the Palm City zip code 34990 area for residential sales. A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.
The July 2014 numbers were: 432 active listings, 148 pending sales and 73 closed sales. Better pending sales and almost identical closed sales with a considerably reduced inventory. Makes 2015 a better market than last year for Palm City.
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