Palm City FL 34990 Residential Market Report November 2016

December 20, 2016/Gabe Sanders/Featured, Market Reports, Real Estate, Top Slider

Palm City FL 34990 Residential Market Report November 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for November 2016

For November 2016 in the 34990 Zip Code area of Palm City Florida :

There are currently 430 active listings (Increased by 30 homes from October)

Palm City FL 34990 Residential Market Report November 2016

101 Residential sales are pending and awaiting close or lender approval. (Down by 13 homes from last month)

Palm City FL 34990 Residential Market Report November 2016

52 Homes Sold in October (Down by 3 homes from October)

Palm City FL 34990 Residential Market Report November 2016

The Palm City FL, zip code 34990 residential real estate market has had two months of increased inventory without an accompanying increase in either pending or closed sales. This may only be a seasonal phenomena and we will wait to see if sales activity picks up as we head into the winter season.

The monthly absorption rate increased to 8.3 months from 7.3 months in October. More 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 2015 numbers were: 389 active listings, 122 pending sales and 47 closed sales. Better closed sales volume but not as strong with the pending sales. Considerably higher inventory for this year.

Palm City FL 34990 Residential Market Report November 2016

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