Palm City FL 34990 Residential Market Report June 2015
Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for June 2015
For June 2015 in the 34990 Zip Code area of Palm City Florida :
There are currently 358 active listings (Decreased by 3 homes from May)
163 Residential sales are pending and awaiting close or lender approval. (Decreased by 41 homes from last month)
128 Homes Sold in May (Increased by 28 sold homes from May)
After a very strong May, the Palm City FL 34990 residential real estate market came in with even more for June. Unfortunately the inventory has dropped to a point that future pending sales have decreased and I believe the volume of future closed sales will suffer unless we get more homes available on the market.
The current absorption rate dropped to 2.8 months from 3.6 months in May. An extreme 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 June 2014 numbers were: 444 active listings, 153 pending sales and 94 closed sales. Even with a greatly reduced inventory. Sales volume is much better for 2015.
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