Palm City Florida Market Report ZIP Code 34990 Condo May 2013

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

 

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

There are currently 52 active condo listings. (Down 6 condos from April)

[singlepic id=3695 w=600 h=600 float=center]

[singlepic id=3696 w=600 h=600 float=center]

 

16 Condo sales are pending and awaiting close or lender approval. (Increased by 2 condos from last month)

[singlepic id=3697 w=600 h=600 float=center]

 

3 Condos Sold in May. (Down 4 condos from April)

[singlepic id=3698 w=600 h=600 float=center]

[singlepic id=3699 w=600 h=600 float=center]

[singlepic id=3700 w=600 h=600 float=center]

 

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.   Sales were only 3 units for May, yet the pending numbers were up, indicating some good closed activity for the next few months (if they all close).  Inventory is now down to only 52 condos for Palm City.

 

The current absorption rate for condos in the 34990 zip code area jumped to 17.3 months.  An extreme buyers market for this month, as a balanced market is considered to be an absorption rate of around 6 months.

 

The May 2012 numbers were: 66 active listings, 8 pending sales and 2 closed sales.   Considerably better activity for 2013 than last year.