Palm City FL 34990 Residential Market Report November 2014

Palm City FL 34990 Residential Market Report November 2014

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for November 2014

 

For October 2013 in the 34990 Zip Code area of Palm City Florida :


There are currently 433 active listings (Decreased by 22 homes from October)

Palm City FL 34990 Residential Market Report November 2014

 

 124 Residential sales are pending and awaiting close or lender approval. (Increased by 2 homes from last month)

Palm City FL 34990 Residential Market Report November 2014

 

56 Homes Sold in October (Down by 2 homes from October)

Palm City FL 34990 Residential Market Report November 2014

 

The Palm City FL 34990 residential real estate market showed very little change from last month.  The inventory dropped by 22 homes while pending and closed sales changed very little. Fairly weak activity for Palm City these last two months after a strong spring and summer.
 
 The current absorption rate decreased to 7.7 months from 7.8 months in October, keeping the Palm City residential real estate market in a buyers market for the second month after a long period of being in a sellers market.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The November 2013 numbers were:  415 active listings, 149 pending sales and 52 closed sales.  The Palm City market continues to average higher inventory levels as compared to recent years (and last year) while maintaining steady activity.

Palm City FL 34990 Residential Market Report November 2014

 

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Palm City Florida Real Estate presented by:
the Gabe Sanders real estate team

 

Palm City FL 34990 Residential Market Report November 2014

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