Palm City Florida Market Report ZIP Code 34990 Residential August 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for August 2013

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

There are currently 352 active listings (A decrease of 8 homes from July)

141 Residential sales are pending and awaiting close or lender approval. (A decrease of 12 homes from last month)

77 Homes Sold in August (Increased by 7 homes from July)

A little bit of easing for the market activity in the Palm City, zip code 34990, area of Martin County Florida. The inventory continues to decline and pending sales were off for the second month in a row. The only bright note was the increased number of closed sales.

The current absorption rate dropped to 4.6 months from 5.5 months in July. An indication of a strong sellers market for now. A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers. With lower inventory and reduced pending sales, I’m expecting an easing of the absorption rate in the coming months.

The August 2012 numbers were: 400 active listings, 161 pending sales and 68 closed sales. Other than the pending sales numbers, we’re doing considerably better than last year in the Palm City single family market.

Please use the charts below as reference only as they rely on all residential types of property in the 34990 real estate market:

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Palm City Florida Market Report ZIP Code 34990 Residential August 2013

Palm City Florida Market Report ZIP Code 34990 Residential August 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for August 2013