Palm City FL 34990 Residential Market Report November 2015
Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for November 2015
For November 2015 in the 34990 Zip Code area of Palm City Florida :
There are currently 389 active listings (Increased by 12 homes from October)
122 Residential sales are pending and awaiting close or lender approval. (Decreased by 15 homes from last month)
47 Homes Sold in October (Decreased by 11 sold homes from October)
After a very strong October, the Palm City FL 34990 had a moderating month for November. The inventory continues to see some increases, while both pending and closed sales were off. Whether this is a result of the holiday season or possibly prices having risen to fast, I just can’t tell at this point, but this development bears watching.
The current absorption rate increased to to 8.3 months from 6.5 months in October. Into 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 November 2014 numbers were: 433 active listings, 124 pending sales and 56 closed sales. A little less volume of closed sales as compared to last year. Though, still with less inventory also.
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