Palm City Florida Condos for Sale and Sold Report 34990 ZIP Code January 2014

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for January 2014

 

For January 2014 in the 34990 Zip Code area of Palm City, Florida :

There are currently 58 active condo listings. (Down by 8 condo from December)

5 Condo sales are pending and awaiting close or lender approval. (Unchanged from last month)

2 Condos Sold in January. (Unchanged from December)

Little change from the end of last year for the condo segment of the Palm City FL real estate market.  Inventory was the only change and that was down even further.  This is a very small segment of the Palm City market as this area is primarily single family homes.  Trends are good to watch but a meaningful interpretation from monthly swings in values is difficult to determine.

The current absorption rate for condos in the 34990 zip code area dropped to 29  months with only 2 sales (was 33 months in December).   A balanced market is considered to be an absorption rate of around 6 to 7 months, so this market continues as a strong buyers market.

 

The January 2012 numbers were: 69 active listings, 8 pending sales and 3 closed sales.   Better activity last year, but there were also more properties available.