Palm City FL 34990 Condo Market Report April 2017

Palm City FL 34990 Condo Market Report April 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for April 2017

For April 2017 in the 34990 Zip Code area of Palm City, Florida :



There are currently 86 active condo listings. (Decreased by 9 condos from March)

   Palm City FL 34990 Condo Market Report April 2017

9 Condo sales are pending and awaiting close or lender approval. (Down by 1 condos from last month)

Palm City FL 34990 Condo Market Report April 2017

8 Condos Sold in April. (Up by 4 condos from March)

Palm City FL 34990 Condo Market Report April 2017

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For April of 2017 closed sales increased and pending sales remained close to last month while the inventory decreased.

The current absorption rate for condos in the 34990 zip code area dropped to 10.8 months (was 23.8 months in April). Still a buyers’ market for Palm City condominiums, but trending towards a more balanced market.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The April 2016 numbers were: 65 active listings, 12 pending sales and 8 closed sales.   Very similar closed activity and less pending activity this year but with a larger inventory.
Palm City FL 34990 Condo Market Report April 2017

Stuart Florida Real Estate presented by:
Gabe Sanders

Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City FL 34990 Condo Market Report April 2017

Palm City FL 34990 Residential Market Report April 2017

Palm City FL 34990 Residential Market Report April 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for April 2017

For April 2017 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 403 active listings (Increased by 46 homes from March)

Palm City FL 34990 Residential Market Report April 2017

191 Residential sales are pending and awaiting close or lender approval. (Up by 26 homes from last month)

Palm City FL 34990 Residential Market Report April 2017

80 Homes Sold in March (Down by 1 homes from March)

Palm City FL 34990 Residential Market Report April 2017

The Palm City FL, zip code 34990 residential real estate market continues with strong activity with excellent closed and pending sales volume.
The monthly absorption rate decreased to 5.0 months from 5.3 months in March.  Continuing as a sellers’ market for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The April 2016 numbers were:  375 active listings, 175 pending sales and 84 closed sales.  Stronger pending numbers this year with a larger inventory and similar sales activity.

Palm City FL 34990 Residential Market Report April 2017

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Palm City FL 34990 Residential Market Report April 2017

Palm City FL 34990 Condo Market Report March 2017

Palm City FL 34990 Condo Market Report March 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for March 2017

 

For March 2017 in the 34990 Zip Code area of Palm City, Florida :



There are currently 95 active condo listings. (Increased by 3 condos from February)

   Palm City FL 34990 Condo Market Report March 2017

10 Condo sales are pending and awaiting close or lender approval. (Down by 1 condos from last month)

Palm City FL 34990 Condo Market Report March 2017

4 Condos Sold in March. (Down by 2 condos from February)

Palm City FL 34990 Condo Market Report March 2017

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For March of 2017 activity decreased for both pending and closed sales and there’s quite a lot of room for improvement in this segment of the Martin County condo market.

The current absorption rate for condos in the 34990 zip code area jumped to 23.8 months (was 15.3 months in March). A very strong buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The March 2016 numbers were: 65 active listings, 15 pending sales and 4 closed sales.   Similar activity this year but with a much larger inventory.
Palm City FL 34990 Condo Market Report March 2017

Stuart Florida Real Estate presented by:
Gabe Sanders

 

Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City FL 34990 Condo Market Report March 2017

Palm City FL 34990 Residential Market Report March 2017

Palm City FL 34990 Residential Market Report March 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for March 2017

For March 2017 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 449 active listings (Increased by 4 homes from February)

Palm City FL 34990 Residential Market Report March 2017

165 Residential sales are pending and awaiting close or lender approval. (Up by 30 homes from last month)

Palm City FL 34990 Residential Market Report March 2017

81 Homes Sold in February (Up by 25 homes from February)

Palm City FL 34990 Residential Market Report March 2017

The Palm City FL, zip code 34990 residential real estate market was very strong for March of 2017 going back into a sellers market and also with a good increase in pending sales for future activity.
The monthly absorption rate dropped to 5.3 months from 7.9 months in February.  Back into a sellers’ market for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The March 2016 numbers were:  399 active listings, 179 pending sales and 80 closed sales.  Very similar activity to last March with a slightly lower pending volume and greater inventory.

Palm City FL 34990 Residential Market Report March 2017

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Palm City FL 34990 Residential Market Report March 2017

Palm City FL 34990 Condo Market Report February 2017

Palm City FL 34990 Condo Market Report February 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for February 2017

 

For February 2017 in the 34990 Zip Code area of Palm City, Florida :



There are currently 92 active condo listings. (Increased by 1 condos from January)

   Palm City FL 34990 Condo Market Report February 2017

11 Condo sales are pending and awaiting close or lender approval. (Up by 3 condos from last month)

Palm City FL 34990 Condo Market Report February 2017

6 Condos Sold in February. (Up by 1 condos from January)

Palm City FL 34990 Condo Market Report February 2017

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Activity was very similar to last month with small gains in pending and closed sales.

The current absorption rate for condos in the 34990 zip code area decreased to 15.3 months (was 18.5 months in February). Still a buyers’ market for Palm City condominiums but trending in the right direction.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The February 2016 numbers were: 65 active listings, 15 pending sales and 6 closed sales.   Similar activity this year but with a much larger inventory.
Palm City FL 34990 Condo Market Report February 2017

Stuart Florida Real Estate presented by:
Gabe Sanders

 

Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City FL 34990 Condo Market Report February 2017

Palm City FL 34990 Residential Market Report February 2017

Palm City FL 34990 Residential Market Report February 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for February 2017

 

For February 2017 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 445 active listings (Increased by 24 homes from January)

Palm City FL 34990 Residential Market Report February 2017

135 Residential sales are pending and awaiting close or lender approval. (Up by 10 homes from last month)

Palm City FL 34990 Residential Market Report February 2017

56 Homes Sold in January (Up by 4 homes from January)

Palm City FL 34990 Residential Market Report February 2017

The Palm City FL, zip code 34990 residential real estate market continues to have more homes on the market and it appears that both pending and closed sales are also increasing.
The monthly absorption rate decreased to 7.9 months from 8.1 months in January.  Still in a buyers’ market for the Palm City zip code 34990 area for residential sales, but with the strong number of pending sales, I expect a balanced market in the next month or so.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The February 2016 numbers were:  415 active listings, 152 pending sales and 56 closed sales.  Similar activity as compared to last year but with greater inventory this year.

Palm City FL 34990 Residential Market Report February 2017

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Palm City FL 34990 Condo Market Report January 2017

Palm City FL 34990 Condo Market Report January 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for January 2017

 

For January 2017 in the 34990 Zip Code area of Palm City, Florida :



There are currently 91 active condo listings. (Increased by 5 condos from December)

   Palm City FL 34990 Condo Market Report January 2017

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

Palm City FL 34990 Condo Market Report January 2017

5 Condos Sold in January. (Up by 1 condos from December)

Palm City FL 34990 Condo Market Report January 2017

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  The inventory continues to rise while closed and pending sales are basically holding steady.

The current absorption rate for condos in the 34990 zip code area decreased to 18.5 months (was 21.5 months in January). Still an extreme buyers’ market for Palm City condominiums but trending in the right direction.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The January 2016 numbers were: 64 active listings, 9 pending sales and 2 closed sales.   Better closed sales numbers this year, but this is with a considerable increase in inventory.
Palm City FL 34990 Condo Market Report January 2017

Stuart Florida Real Estate presented by:
Gabe Sanders

Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City FL 34990 Condo Market Report January 2017

Palm City FL 34990 Residential Market Report January 2017

Palm City FL 34990 Residential Market Report January 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for January 2017

 

For January 2017 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 421 active listings (Increased by 5 homes from December)

Palm City FL 34990 Residential Market Report January 2017

125 Residential sales are pending and awaiting close or lender approval. (Up by 32 homes from last month)

Palm City FL 34990 Residential Market Report January 2017

52 Homes Sold in December (Down by 13 homes from December)

Palm City FL 34990 Residential Market Report January 2017

The Palm City FL, zip code 34990 residential real estate market had a small increase in inventory and very strong pending sales numbers which should result in a higher sales volume on the coming months.  Closed sales were off for the month.
The monthly absorption rate increased to 8.1 months from 6.4 months in December.  Back into a buyers’ market for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The January 2016 numbers were:  400 active listings, 156 pending sales and 49 closed sales.  Just a small increase in sales when compared to last year with fewer pending sales and a greater inventory.

Palm City FL 34990 Residential Market Report January 2017

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Palm City FL 34990 Residential Market Report January 2017

Palm City FL 34990 Condo Market Report December 2016

Palm City FL 34990 Condo Market Report December 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for December 2016

 

For December 2016 in the 34990 Zip Code area of Palm City, Florida :



There are currently 86 active condo listings. (Increased by 6 condos from November)

   Palm City FL 34990 Condo Market Report December 2016

8 Condo sales are pending and awaiting close or lender approval. (Down by 3 condos from last month)

Palm City FL 34990 Condo Market Report December 2016

4 Condos Sold in December. (Up by 1 condos from November)

Palm City FL 34990 Condo Market Report December 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  The inventory has risen considerably in the past few months while pending and closed sales have not kept pace.

The current absorption rate for condos in the 34990 zip code area jumped up to 21.5 months (was 40 months in December). Still an extreme buyers’ market for Palm City condominiums but trending in the right direction.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The December 2015 numbers were: 52 active listings, 9 pending sales and 4 closed sales.   Very similar closed and pending sales volume, though at a considerably greater inventory, so by percentage the activity is greatly reduced for this year.
Palm City FL 34990 Condo Market Report December 2016

Stuart Florida Real Estate presented by:
Gabe Sanders

 

Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City FL 34990 Condo Market Report December 2016

Palm City FL 34990 Residential Market Report December 2016

Palm City FL 34990 Residential Market Report December 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for December 2016

For December 2016 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 416 active listings (Decreased by 16 homes from November)

Palm City FL 34990 Residential Market Report December 2016

 92 Residential sales are pending and awaiting close or lender approval. (Down by 9 homes from last month)

Palm City FL 34990 Residential Market Report December 2016

65 Homes Sold in November (Up by 13 homes from November)

Palm City FL 34990 Residential Market Report December 2016

The Palm City FL, zip code 34990 residential real estate market had a drop in inventory after two months of increases.  Closed sales were up strongly for December from last month, while pending sales saw a decline.
The monthly absorption rate decreased to 6.4 months from 8.3 months in November.  Back into a balanced market for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The December 2015 numbers were:  375 active listings, 114 pending sales and 60 closed sales.  With higher inventory this year, there are fewer closed sales and a little improved closed sales numbers.

Palm City FL 34990 Residential Market Report December 2016

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Palm City FL 34990 Residential Market Report December 2016

Palm City FL 34990 Condo Market Report November 2016

Palm City FL 34990 Condo Market Report November 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for November 2016

For November 2016 in the 34990 Zip Code area of Palm City, Florida :



There are currently 80 active condo listings. (Increased by 4 condos from October)

   Palm City FL 34990 Condo Market Report November 2016

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

Palm City FL 34990 Condo Market Report November 2016

3 Condos Sold in November. (Down by 2 condos from October)

Palm City FL 34990 Condo Market Report November 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. Inventory has continued to rise while for this month sales were off making for a pretty strong buyers market.  The bright note is an improved pending sales volume.

The current absorption rate for condos in the 34990 zip code area jumped up to 40 months (was 15.2 months in November). Currently an extreme buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The November 2015 numbers were: 53 active listings, 8 pending sales and 8 closed sales.   Only the pending sales activity is improved when comparing last year’s activity.
Palm City FL 34990 Condo Market Report November 2016

Stuart Florida Real Estate presented by:
Gabe Sanders

Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City FL 34990 Condo Market Report November 2016

Palm City FL 34990 Residential Market Report November 2016

Palm City FL 34990 Residential Market Report November 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for November 2016

For November 2016 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 430 active listings (Increased by 30 homes from October)

Palm City FL 34990 Residential Market Report November 2016

 101 Residential sales are pending and awaiting close or lender approval. (Down by 13 homes from last month)

Palm City FL 34990 Residential Market Report November 2016

52 Homes Sold in October (Down by 3 homes from October)

Palm City FL 34990 Residential Market Report November 2016

The Palm City FL, zip code 34990 residential real estate market has had two months of increased inventory without an accompanying increase in either pending or closed sales.  This may only be a seasonal phenomena and we will wait to see if sales activity picks up as we head into the winter season.
The monthly absorption rate increased to 8.3 months from 7.3 months in October.  More into a buyers market for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The November 2015 numbers were:  389 active listings, 122 pending sales and 47 closed sales.  Better closed sales volume but not as strong with the pending sales.  Considerably higher inventory for this year.

Palm City FL 34990 Residential Market Report November 2016

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Palm City FL 34990 Residential Market Report November 2016

Palm City FL 34990 Condo Market Report October 2016

Palm City FL 34990 Condo Market Report October 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for October 2016

 

For October 2016 in the 34990 Zip Code area of Palm City, Florida :



There are currently 76 active condo listings. (Increased by 5 condos from September)

   Palm City FL 34990 Condo Market Report October 2016

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

Palm City FL 34990 Condo Market Report October 2016

5 Condos Sold in October. (Up by 1 condos from September)

Palm City FL 34990 Condo Market Report October 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. Inventory has been rising for a few months now and closed sales are not increasing enough to offset this increase even though it has increased.

The current absorption rate for condos in the 34990 zip code area dropped to 15.2 months (was 17.8 months in October). Remaining a strong buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The October 2015 numbers were: 54 active listings, 10 pending sales and 3 closed sales.   A little more closed activity this year, but this is with a significantly greater inventory of active condos listed for sale.
Palm City FL 34990 Condo Market Report October 2016

Stuart Florida Real Estate presented by:
Gabe Sanders

 

Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City FL 34990 Condo Market Report October 2016

Palm City FL 34990 Residential Market Report October 2016

Palm City FL 34990 Residential Market Report October 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for October 2016

 

For October 2016 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 400 active listings (Increased by 23 homes from September)

Palm City FL 34990 Residential Market Report October 2016

 114 Residential sales are pending and awaiting close or lender approval. (Down by 7 homes from last month)

Palm City FL 34990 Residential Market Report October 2016

55 Homes Sold in September (Up by 1 homes from September)

Palm City FL 34990 Residential Market Report October 2016

The Palm City FL, zip code 34990 residential real estate market activity is showing some weakness going into a buyers market for the first time in years.  Inventory is up above last year while sales and ending sales have decreased.
The monthly absorption rate increased to to 7.3 months from 7 months in September.  Now a buyers market for the first time in a few years for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The October 2015 numbers were:  377 active listings, 137 pending sales and 58 closed sales.  This is the second month with weaker activity for this year as compared to last year.

Palm City FL 34990 Residential Market Report October 2016

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Palm City Florida Real Estate presented by:
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Palm City FL 34990 Residential Market Report October 2016

Palm City FL 34990 Condo Market Report September 2016

Palm City FL 34990 Condo Market Report September 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for September 2016

For September 2016 in the 34990 Zip Code area of Palm City, Florida :



There are currently 71 active condo listings. (Increased by 10 condos from August)

   Palm City FL 34990 Condo Market Report September 2016

9 Condo sales are pending and awaiting close or lender approval. (Up by 1 condos from last month)

Palm City FL 34990 Condo Market Report September 2016

4 Condos Sold in September. (Up by 3 condos from August)

Palm City FL 34990 Condo Market Report September 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. Inventory has been rising for a few months now and closed sales are not increasing enough to offset this increase.  We should have an increase in sales later this year or in the beginning of next year as we enter the condo season.

The current absorption rate for condos in the 34990 zip code area dropped to 17.8 months (was 61 months in September). Remaining a strong buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The September 2015 numbers were: 52 active listings, 8 pending sales and 3 closed sales.   There’s significantly more inventory this year and only slightly higher closed and pending activity.
Palm City FL 34990 Condo Market Report September 2016

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Palm City FL 34990 Condo Market Report September 2016

Palm City FL 34990 Residential Market Report September 2016

Palm City FL 34990 Residential Market Report September 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for September 2016

For September 2016 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 377 active listings (Decreased by 14 homes from August)

Palm City FL 34990 Residential Market Report September 2016

 121 Residential sales are pending and awaiting close or lender approval. (Up by 5 homes from last month)

Palm City FL 34990 Residential Market Report September 2016

54 Homes Sold in August (Down by 14 homes from August)

Palm City FL 34990 Residential Market Report September 2016

The Palm City FL, zip code 34990 residential real estate market activity eased again for September.  Closed sales were off while pending sales increased slightly.  The inventory also decreased which is just the opposite of whats been happening this month in the Stuart markets.
The monthly absorption rate increased to to 7 months from 5.8 months in August.  Drifting towards a buyers market for the first time in a few years for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The September 2015 numbers were:  365 active listings, 155 pending sales and 60 closed sales.  Better activity last year.  Hopefully this is just a monthly phenomenon and we’ll increase our Palm City single family home sales in the coming months.

Palm City FL 34990 Residential Market Report September 2016

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Palm City Florida Real Estate presented by:
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Palm City FL 34990 Residential Market Report September 2016

Palm City FL 34990 Condo Market Report August 2016

Palm City FL 34990 Condo Market Report August 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for August 2016

For August 2016 in the 34990 Zip Code area of Palm City, Florida :



There are currently 61 active condo listings. (Increased by 1 condos from July)

   Palm City FL 34990 Condo Market Report August 2016

8 Condo sales are pending and awaiting close or lender approval. (Up by 1 condos from last month)

Palm City FL 34990 Condo Market Report August 2016

1 Condos Sold in August. (Down by 3 condos from July)

Palm City FL 34990 Condo Market Report August 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. Tere was only one closed sale for last month while pending sales remained almost unchanged and inventory rose slightly.

The current absorption rate for condos in the 34990 zip code area continued to rise, now at 61 months (was 20 months in August).   A very strong buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The August 2015 numbers were: 52 active listings, 8 pending sales and 5 closed sales.   Slightly higher inventory and not as active for closed sales this year as compared to last August.
Palm City FL 34990 Condo Market Report August 2016

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Palm City FL 34990 Condo Market Report August 2016

Palm City FL 34990 Residential Market Report August 2016

Palm City FL 34990 Residential Market Report August 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for August 2016

For August 2016 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 391 active listings (Increased by 8 homes from July)

Palm City FL 34990 Residential Market Report August 2016

 116 Residential sales are pending and awaiting close or lender approval. (Down by 4 homes from last month)

Palm City FL 34990 Residential Market Report August 2016

68 Homes Sold in July (Down by 15 homes from July)

Palm City FL 34990 Residential Market Report August 2016

The Palm City FL, zip code 34990 residential real estate market activity eased a bit from last month.  Both closed and pending sales are off for the month.  Though, we’re still in a sellers market for Palm City.
The monthly absorption rate increased to to 5.8 months from 4.6 months in July.  Drifting towards a balanced market for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The August 2015 numbers were:  355 active listings, 155 pending sales and 74 closed sales. Our inventory is considerably higher this year, but the sales activity has slowed considerably and is less than that for the August 2015 time period.

Palm City FL 34990 Residential Market Report August 2016

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Palm City Florida Real Estate presented by:
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Palm City FL 34990 Residential Market Report August 2016

Palm City FL 34990 Condo Market Report July 2016

Palm City FL 34990 Condo Market Report July 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for July 2016

For July 2016 in the 34990 Zip Code area of Palm City, Florida :



There are currently 60 active condo listings. (Decreased by 5 condos from June)

   Palm City FL 34990 Condo Market Report July 2016

7 Condo sales are pending and awaiting close or lender approval. (Up by 3 condos from last month)

Palm City FL 34990 Condo Market Report July 2016

3 Condos Sold in July. (Down by 4 condos from June)

Palm City FL 34990 Condo Market Report July 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Condo sales were off considerably for July.  Not totally unexpected as typically the summer months are the slow time for Palm City condo sales.

The current absorption rate for condos in the 34990 zip code area continued to rise to 20 months (was 16.3 months in July).   Now one of the few areas where it’s a strong buyers market in Martin County.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The July 2015 numbers were: 60 active listings, 7 pending sales and 6 closed sales.   Slightly better sales numbers last year, otherwise everything else is identical for this year.
Palm City FL 34990 Condo Market Report July 2016

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Palm City FL 34990 Condo Market Report July 2016

Palm City FL 34990 Residential Market Report July 2016

Palm City FL 34990 Residential Market Report July 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for July 2016

For July 2016 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 383 active listings (Increased by 21 homes from June)

Palm City FL 34990 Residential Market Report July 2016

 120 Residential sales are pending and awaiting close or lender approval. (Down by 48 homes from last month)

Palm City FL 34990 Residential Market Report July 2016

83 Homes Sold in June (Up by 7 homes from June)

Palm City FL 34990 Residential Market Report July 2016

The Palm City FL, zip code 34990 residential real estate market activity continues to be very strong.  Troubling for July is the sharp drop of pending sales which may indicate reduced sales volume for the near future.
The monthly absorption rate decreased slightly to to 4.6 months from 4.8 months in June.  Still in a strong sellers market for the Palm City zip code 34990 area for residential sales.  A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The July 2015 numbers were:  363 active listings, 162 pending sales and 71 closed sales.  We have just surpassed last year’s inventory numbers and have slightly better closed sale numbers, unfortunately not so strong with the pending sales.

Palm City FL 34990 Residential Market Report July 2016

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Palm City Florida Real Estate presented by:
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Palm City FL 34990 Residential Market Report July 2016