Palm City Florida Market Report ZIP Code 34990 Condo November 2013

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

 

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

There are currently 67 active condo listings. (Up by 8 condos from October)

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

 

1 Condos Sold in November. (Down by 3 condo from October)

 

Very disappointing activity for the 34990 zip code area of Palm City condo market for November 2013.  Inventory increased, pending sales remained unchanged and only 1 condo sold in November.

The current absorption rate for condos in the 34990 zip code area is an atrocious 67  months with only 1 sale (was 14.8 months in October).   A balanced market is considered to be an absorption rate of around 6 to 7 months, so this market is currently a strong buyers market.

 

The November 2012 numbers were: 61 active listings, 10 pending sales and 5 closed sales.   Unfortunately, this year’s activity is not nearly as active as it was in November 2012.