Palm City Florida Market Report ZIP Code 34990 Residential October 2013

November 22, 2013/Gabe Sanders/Featured, Market Reports, Real Estate

Palm City Florida Market Report ZIP Code 34990 Residential October 2013

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

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

There are currently 416 active listings (An increase of 37 homes from September)

144 Residential sales are pending and awaiting close or lender approval. (Decreased by 3 homes from last month)

54 Homes Sold in October (Increased by 6 homes from September)

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After some disappointing sales numbers for September for the Palm City, zip code 34990, area of Martin County Florida, there was a rebound for October.. Also, the second month in a row with sizable gain in inventory. Pending sales were off slightly. Most interesting is the increase in inventory.

The current absorption rate dropped slightly to to 7.7 months from 7.9 months in September, but is at a much more sustainable rate than the hot sellers market we had in Palm City during the spring and early summer. A slight buyers market. A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers. I don’t expect a buyers market to last, as I think sales will be picking up soon in Palm City once again.

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The October 2012 numbers were: 420 active listings, 150 pending sales and 49 closed sales. Very similar activity to last year.

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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