Palm City FL 34990 Residential Market Report July 2019

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for July 2019

For July 2019 in the 34990 Zip Code area of Palm City Florida :

There are currently 348 active listings (Down by 42 homes from June)

154 Residential sales are pending (Up by 38 homes from last month)

63 Homes Sold in September (Down by 23 homes from June)

The Palm City FL, zip code 34990 residential real estate market had a large improvement in pending sales while closed sales were off. With the increase in pending sales, I expect closed sales to improve in the next month or two. There was also a pretty large (and unexpected) drop in inventory for July.

The monthly absorption rate rose to 5.5 months from 4.5 months in June. Remaining in a seller’s market for the Palm City zip code 34990 area, though approaching 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 July 2018 numbers were: 335 active listings, 142 pending sales, and 76 closed sales. There’s a greater number of pending sales this year while closed sales were better last year.

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Palm City FL 34990 Residential Market Report July 2019

Palm City FL 34990 Residential Market Report July 2019

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for July 2019

For July 2019 in the 34990 Zip Code area of Palm City Florida :