Palm City Florida Market Report ZIP Code 34990 Condo October 2013

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

 

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

There are currently 59 active condo listings. (Up by 4 condos from September)

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

 

4 Condos Sold in October. (Down by 1 condo from September)

 

 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.  The October market activity showed the second month in a row of increased inventory, though unfortunately both pending and closed sales were off.

The current absorption rate for condos in the 34990 zip code area is 14.8 months (was 11 months in September), signifying a buyers market.   A balanced market is considered to be an absorption rate of around 6 months.

 

The October 2012 numbers were: 59 active listings, 9 pending sales and 4 closed sales.   Almost identical to 2012 activity with fewer pending sales this year.