Palm City FL 34990 Residential Market Report March 2016
Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for March 2016
For March 2016 in the 34990 Zip Code area of Palm City Florida :
There are currently 399 active listings (Decreased by 16 homes from February)
179 Residential sales are pending and awaiting close or lender approval. (Increased by 17 homes from last month)
80 Homes Sold in February (Increased by 24 sold homes from February)
The Palm City FL, zip code 34990, residential real estate market jumped back into a sellers market after two months of somewhat slower closed and pending volume. It looks to be a strong spring and summer market for Palm City in 2016.
The monthly absorption rate decreased to to 5 months from 7.4 months in February. Back into a sellers market after two months of a buyers 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 March 2015 numbers were: 435 active listings, 188 pending sales and 68 closed sales. Better closed volume for this year as compared to last year with less inventory.
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Palm City Florida Real Estate presented by:
the Gabe Sanders real estate team
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