Palm City Florida Market Report ZIP Code 34990 Condo July 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for July 2013

 

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

There are currently 54 active condo listings. (Down by 4 condos from June)

 

9 Condo sales are pending and awaiting close or lender approval. (Decreased by 5 condos from last month)

 

6 Condos Sold in July. (Down 2 condos from June)

 

The 34990 zip code area of Palm City condo market is a fairly small section of this area as most property in Palm City is either single family homes or town homes.  Thus making meaningful market comparisons somewhat difficult as small changes can have a great effect on the percentages and results.  Both pending and closed sales were off this month compared to June as well as another month with decreasing inventory.

 

The current absorption rate for condos in the 34990 zip code area rose to 8.3 months.  Drifting back into a buyers market, as a balanced market is considered to be an absorption rate of around 6 months.

 

The July 2012 numbers were: 62 active listings, 7 pending sales and 1 closed sales.   Even with the significantly lower number of active condo listings, this year’s activity is much better.