Palm City FL 34990 Condo Market Report June 2016

07.19.16 by

Palm City FL 34990 Condo Market Report June 2016

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

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



There are currently 65 active condo listings. (Increased by 3 condos from May)

   Palm City FL 34990 Condo Market Report June 2016

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

2 pending

7 Condos Sold in June. (No change in sold condos from May)

Palm City FL 34990 Condo Market Report June 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  The activity in this market has slowed considerably for June and with the weak pending numbers, this may continue for the next few months.

The current absorption rate for condos in the 34990 zip code area shot up to 16.3 months (was 8.9 months in June).   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 June 2015 numbers were: 51 active listings, 14 pending sales and 8 closed sales.   Better activity last year as compared to this year even with increased inventory for 2016.
Palm City FL 34990 Condo Market Report June 2016

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Palm City FL 34990 Condo Market Report June 2016

Palm City FL 34990 Residential Market Report June 2016

07.18.16 by

Palm City FL 34990 Residential Market Report June 2016

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

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

 

There are currently 362 active listings (Decreased by 15 homes from May)

Palm City FL 34990 Residential Market Report June 2016

 168 Residential sales are pending and awaiting close or lender approval. (Up by 6 homes from last month)

Palm City FL 34990 Residential Market Report June 2016

76 Homes Sold in May (Down by 8 homes from May)

Palm City FL 34990 Residential Market Report June 2016

The Palm City FL, zip code 34990 residential real estate market activity continues to be quite active.  After a slight increase in inventory for last month, it’s back down again for June and sales have slowed somewhat while still being an active market, just not as hot as in previous months.
The monthly absorption rate increased to to 4.8 months from 4.5 months in May.  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 June 2015 numbers were:  358 active listings, 163 pending sales and 128 closed sales.  Much better closed volume from last year with other metrics very similar.

Palm City FL 34990 Residential Market Report June 2016

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Palm City FL 34990 Residential Market Report June 2016

Palm City FL 34990 Condo Market Report May 2016

06.19.16 by

Palm City FL 34990 Condo Market Report May 2016

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

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



There are currently 62 active condo listings. (Decreased by 3 condos from April)

   Palm City FL 34990 Condo Market Report May 2016

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

Palm City FL 34990 Condo Market Report May 2016

7 Condos Sold in May. (Decreased by 1 condos from April)

Palm City FL 34990 Condo Market Report May 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For May of 2016 sales were off by 1 condo and pending sales were up by 1 while the inventory decreased, but still better than last year.

The current absorption rate for condos in the 34990 zip code area inched up to 8.9 months (was 8.1 months in May).   Still a buyers market for Palm City condos, though these numbers should be taken with a grain of salt because of the low number of available properties.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The May 2015 numbers were: 55 active listings, 11 pending sales and 4 closed sales.   Somewhat better volume of sales and pending sales for 2016 when compared to last year.
Palm City FL 34990 Condo Market Report May 2016

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 Palm City FL 34990 Condo Market Report May 2016

Palm City FL 34990 Residential Market Report May 2016

06.18.16 by

Palm City FL 34990 Residential Market Report May 2016

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

 

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

 

There are currently 377 active listings (Increased by 12 homes from April)

Palm City FL 34990 Residential Market Report May 2016

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

Palm City FL 34990 Residential Market Report May 2016

84 Homes Sold in April (No change in sold homes from April)

Palm City FL 34990 Residential Market Report May 2016

The Palm City FL, zip code 34990 residential real estate market activity continues to be quite active.  Good to see the inventory increase, even if it’s only by two homes.  Unfortunately, pending sales were off compared to last months activity.
The monthly absorption rate decreased to to 4.5 months from 4.7 months in April.  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 May 2015 numbers were:  361 active listings, 204 pending sales and 100 closed sales.  Considerably better activity last year for the Palm City residential real estate market.

Palm City FL 34990 Residential Market Report May 2016

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Palm City FL 34990 Residential Market Report May 2016

Palm City FL 34990 Condo Market Report April 2016

05.19.16 by

Palm City FL 34990 Condo Market Report April 2016

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

 

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



There are currently 65 active condo listings. (No change in active condos from March)

   Palm City FL 34990 Condo Market Report April 2016

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

Palm City FL 34990 Condo Market Report April 2016

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

Palm City FL 34990 Condo Market Report April 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For April of 2015 sales increased nicely while pending sales were off while the inventory remained unchanged, though higher thanlast year.

The current absorption rate for condos in the 34990 zip code area dipped to 8.1 months (was 16.25 months in April).   Still a buyers market for Palm City condos, though these numbers should be taken with a grain of salt because of the low number of available properties.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The April 2015 numbers were: 55 active listings, 11 pending sales and 7 closed sales.   Very similar activity to last year, though interestingly the inventory of available condos has now exceeded last years amount.
Palm City FL 34990 Condo Market Report April 2016

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Palm City FL 34990 Condo Market Report April 2016

Palm City FL 34990 Residential Market Report April 2016

05.18.16 by

Palm City FL 34990 Residential Market Report April 2016

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

 

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

 

There are currently 375 active listings (Decreased by 24 homes from March)

Palm City FL 34990 Residential Market Report April 2016

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

Palm City FL 34990 Residential Market Report April 2016

84 Homes Sold in March (Increased by 4 sold homes from March)

Palm City FL 34990 Residential Market Report April 2016

The Palm City FL, zip code 34990, residential real estate market continues to be an active market with properly priced homes moving very quickly.  This activity will most likely continue through the summer season.
The monthly absorption rate decreased to to 4.7 months from 5 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 2015 numbers were:  381 active listings, 217 pending sales and 73 closed sales.  Better closed volume for this year but pending sales were better last year.

Palm City FL 34990 Residential Market Report April 2016

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Palm City FL 34990 Residential Market Report April 2016

Palm City FL 34990 Condo Market Report March 2016

04.19.16 by

Palm City FL 34990 Condo Market Report March 2016

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

 

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



There are currently 65 active condo listings. (No change in active condos from February)

   Palm City FL 34990 Condo Market Report March 2016

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

Palm City FL 34990 Condo Market Report March 2016

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

Palm City FL 34990 Condo Market Report March 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For March of 2015 sales were off while there was a small increase in pending sales.  Inventory is actually higher than in the recent past.

The current absorption rate for condos in the 34990 zip code area rose to 16.25 months (was 10.8 months in March).   An extreme buyers market for Palm City condos, though these numbers should be taken with a grain of salt because of the low number of available properties.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The March 2015 numbers were: 48 active listings, 15 pending sales and 6 closed sales.   Slightly better activity last year when compared to March of 2016, along with the unusual fact of greater inventory this year when compared to 2015.
Palm City FL 34990 Condo Market Report March 2016

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Palm City FL 34990 Condo Market Report March 2016

Palm City FL 34990 Residential Market Report March 2016

04.18.16 by

Palm City FL 34990 Residential Market Report March 2016

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

 

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

 

There are currently 399 active listings (Decreased by 16 homes from February)

Palm City FL 34990 Residential Market Report March 2016

 179 Residential sales are pending and awaiting close or lender approval. (Increased by 17 homes from last month)

Palm City FL 34990 Residential Market Report March 2016

80 Homes Sold in February (Increased by 24 sold homes from February)

Palm City FL 34990 Residential Market Report March 2016

The Palm City FL, zip code 34990, residential real estate market jumped back into a sellers market after two months of somewhat slower closed and pending volume.  It looks to be a strong spring and summer market for Palm City in 2016.
The monthly absorption rate decreased to to 5 months from 7.4 months in February.  Back into a sellers market after two months of 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 March 2015 numbers were:  435 active listings, 188 pending sales and 68 closed sales.  Better closed volume for this year as compared to last year with less inventory.

Palm City FL 34990 Residential Market Report March 2016

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Palm City FL 34990 Residential Market Report March 2016

Palm City FL 34990 Condo Market Report February 2016

03.18.16 by

Palm City FL 34990 Condo Market Report February 2016

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

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



There are currently 65 active condo listings. (Increased by 1 condos from January)

   Palm City FL 34990 Condo Market Report February 2016

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

Palm City FL 34990 Condo Market Report February 2016

6 Condos Sold in February. (Up by 4 condos from January)

Palm City FL 34990 Condo Market Report February 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For this month, we had some nice increases in both pending and closed sales while the inventory stayed almost constant.

The current absorption rate for condos in the 34990 zip code area dropped to 10.8 months (was 34 months in February).   Still a buyers market for Palm City condos, but trending towards a balanced one.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The February 2015 numbers were: 54 active listings, 13 pending sales and 4 closed sales.   Slightly better activity this year when compared to February of 2015, but we also have a greater inventory of available condos for sale.  Very unusual for today’s market.
Palm City FL 34990 Condo Market Report February 2016

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Palm City FL 34990 Condo Market Report February 2016

Palm City FL 34990 Residential Market Report February 2016

03.17.16 by

Palm City FL 34990 Residential Market Report February 2016

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

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

 

There are currently 415 active listings (Increased by 15 homes from January)

Palm City FL 34990 Residential Market Report February 2016

 162 Residential sales are pending and awaiting close or lender approval. (Increased by 6 homes from last month)

Palm City FL 34990 Residential Market Report February 2016

56 Homes Sold in January (Increased by 7 sold homes from January)

Palm City FL 34990 Residential Market Report February 2016

The Palm City FL, zip code 34990, residential real estate market continued to show positive results month to month and remains a solid performing market.  With the strong pending sales numbers I expect the Palm City residential market to be back into a balance market soon, if not all the way to a sellers’ market.
The monthly absorption rate decreased to to 7.4 months from 8.2 months in January.  A buyers market for the second month in a row 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 February 2015 numbers were:  450 active listings, 164 pending sales and 55 closed sales.  Very similar activity to February of 2015 with a bit lower inventory this year.

Palm City FL 34990 Residential Market Report February 2016

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Palm City FL 34990 Residential Market Report February 2016

Palm City FL 34990 Condo Market Report January 2016

02.18.16 by

Palm City FL 34990 Condo Market Report January 2016

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

 

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



There are currently 64 active condo listings. (Increased by 12 condos from December)

   Palm City FL 34990 Condo Market Report January 2016

9 Condo sales are pending and awaiting close or lender approval. (No change in pending condos from last month)

Palm City FL 34990 Condo Market Report January 2016

2 Condos Sold in January. (Down by 2 condos from December)

Palm City FL 34990 Condo Market Report January 2016

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  To begin 2016, this segment of the market had a nice increase in inventory, unfortunately a decrease in closed sales and no increase in pending sales.

The current absorption rate for condos in the 34990 zip code area is an atrocious 34 months (was 13 months in January).   A very serious buyers market for Palm City condos.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The January 2015 numbers were: 59 active listings, 12 pending sales and 3 closed sales.   Interestingly the inventory for 2016 is now higher than it was for the first month of 2015.  One of the only segments of our market that has this.  Unfortunately, activity is weaker this year as well.
Palm City FL 34990 Condo Market Report January 2016

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Palm City FL 34990 Condo Market Report January 2016

Palm City FL 34990 Residential Market Report January 2016

02.17.16 by

Palm City FL 34990 Residential Market Report January 2016

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

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

 

There are currently 400 active listings (Increased by 25 homes from December)

Palm City FL 34990 Residential Market Report January 2016

 156 Residential sales are pending and awaiting close or lender approval. (Increased by 42 homes from last month)

Palm City FL 34990 Residential Market Report January 2016

49 Homes Sold in December (Decreased by 11 sold homes from December)

Palm City FL 34990 Residential Market Report January 2016

The Palm City FL, zip code 34990, residential real estate market had a strong increase in inventory as well as pending sales to begin the year.  Unfortunately sales were off as compared to last month, but I expect this to be only short term as the increase in the under contract numbers should result in more closed sales for the coming months.
 The current absorption rate increased to to 8.2 months from 6.3 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 2015 numbers were:  443 active listings, 158 pending sales and 55 closed sales.  Slightly higher closed sales last year but it was with less inventory.  Pending sales are just about the same even with the lower number of available Palm City homes for sale.

Palm City FL 34990 Residential Market Report January 2016

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Palm City FL 34990 Residential Market Report January 2016

Palm City FL 34990 Condo Market Report December 2015

01.18.16 by

Palm City FL 34990 Condo Market Report December 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for December 2015

For December 2015 in the 34990 Zip Code area of Palm City, Florida :



There are currently 52 active condo listings. (Decreased by 1 condos from November)

Palm City FL 34990 Condo Market Report December 2015

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

Palm City FL 34990 Condo Market Report December 2015

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

Palm City FL 34990 Condo Market Report December 2015

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For December sales were off while the inventory and pending sales were just about unchanged.

The current absorption rate for condos in the 34990 zip code area plunged to 13 months (was 6.6 months in December).   Back into a buyers market for Palm City condos.  A balanced market is considered to be an absorption rate of around 6 to 7 months.
The December 2014 numbers were: 61 active listings, 6 pending sales and 6 closed sales.   Somewhat better activity last year, but only marginal.  If the lower inventory is considered there’s a better percentage of activity this year.
Palm City FL 34990 Condo Market Report December 2015

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Palm City FL 34990 Condo Market Report December 2015

Palm City FL 34990 Residential Market Report December 2015

01.17.16 by

Palm City FL 34990 Residential Market Report December 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for December 2015

For December 2015 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 375 active listings (Decreased by 14 homes from November)

Palm City FL 34990 Residential Market Report December 2015

 114 Residential sales are pending and awaiting close or lender approval. (Decreased by 8 homes from last month)

Palm City FL 34990 Residential Market Report December 2015

60 Homes Sold in November (Increased by 13 sold homes from November)

Palm City FL 34990 Residential Market Report December 2015

After a fairly weak November, the Palm City FL 34990 came back strong for December.  Unfortunately the inventory decreased this month after some much needed increases in the past few months. Pending sales were off a little while we had a nice jump in closed sales.
 The current absorption rate increased to to 6.3 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 2014 numbers were:  431 active listings, 116 pending sales and 76 closed sales.  Better closed activity last year, though pending sales are just as strong this year even with the reduced inventory.

Palm City FL 34990 Residential Market Report December 2015

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Palm City FL 34990 Residential Market Report December 2015

Palm City FL 34990 Condo Market Report November 2015

12.17.15 by

Palm City FL 34990 Condo Market Report November 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for November 2015

 

For November 2015 in the 34990 Zip Code area of Palm City, Florida :



There are currently 53 active condo listings. (Decreased by 1 condos from October)

Palm City FL 34990 Condo Market Report November 2015

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

Palm City FL 34990 Condo Market Report November 2015

8 Condos Sold in November. (Up by 5 condos from October)

Palm City FL 34990 Condo Market Report November 2015

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For November this segment of our market had a nice jump in closed sales sending us into a balanced market.  It would be nice to see this trend continue.

The current absorption rate for condos in the 34990 zip code area plunged to 6.6 months (was 18 months in November).   Back into a balanced market for Palm City condos.  A balanced market is considered to be an absorption rate of around 6 to 7 months, so this market continues as a strong buyers market.
The November 2014 numbers were: 61 active listings, 11 pending sales and 2 closed sales.   Better closed activity this year, with a slightly reduced inventory.  Though, pending sales were better last year.
Palm City FL 34990 Condo Market Report November 2015

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Palm City FL 34990 Condo Market Report November 2015

Palm City FL 34990 Residential Market Report November 2015

12.16.15 by

Palm City FL 34990 Residential Market Report November 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for November 2015

 

For November 2015 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 389 active listings (Increased by 12 homes from October)

Palm City FL 34990 Residential Market Report November 2015

 122 Residential sales are pending and awaiting close or lender approval. (Decreased by 15 homes from last month)

Palm City FL 34990 Residential Market Report November 2015

47 Homes Sold in October (Decreased by 11 sold homes from October)

Palm City FL 34990 Residential Market Report November 2015

After a very strong October, the Palm City FL 34990 had a moderating month for November.  The inventory continues to see some increases, while both pending and closed sales were off.  Whether this is a result of the holiday season or possibly prices having risen to fast, I just can’t tell at this point, but this development bears watching.
 The current absorption rate increased to to 8.3 months from 6.5 months in October.  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 2014 numbers were:  433 active listings, 124 pending sales and 56 closed sales.  A little less volume of closed sales as compared to last year.  Though, still with less inventory also.

Palm City FL 34990 Residential Market Report November 2015

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Palm City FL 34990 Residential Market Report November 2015

Palm City FL 34990 Condo Market Report October 2015

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Palm City FL 34990 Condo Market Report October 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for October 2015

 

For October 2015 in the 34990 Zip Code area of Palm City, Florida :



There are currently 54 active condo listings. (Increased by 2 condos from September)

Palm City FL 34990 Condo Market Report October 2015

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

Palm City FL 34990 Condo Market Report October 2015

3 Condos Sold in October. (No change in sold condos from September)

Palm City FL 34990 Condo Market Report October 2015

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  A fairly slow market for sales, though pending sales and activity did rise for October.

The current absorption rate for condos in the 34990 zip code area increased to 18 months (was 17.3 months in October).   Even greater buyer’s market than last month. A balanced market is considered to be an absorption rate of around 6 to 7 months, so this market continues as a strong buyers market.
The October 2014 numbers were: 58 active listings, 9 pending sales and 3 closed sales.   Very similar activity as last year.
Palm City FL 34990 Condo Market Report October 2015

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Palm City FL 34990 Condo Market Report October 2015

Palm City FL 34990 Residential Market Report October 2015

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Palm City FL 34990 Residential Market Report October 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for October 2015

 

For October 2015 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 377 active listings (Increased by 12 homes from September)

Palm City FL 34990 Residential Market Report October 2015

 137 Residential sales are pending and awaiting close or lender approval. (Decreased by 18 homes from last month)

Palm City FL 34990 Residential Market Report October 2015

58 Homes Sold in September (Decreased by 2 sold homes from September)

Palm City FL 34990 Residential Market Report October 2015

After a very strong September, the Palm City FL 34990 residential real estate market continues to show excellent sales activity. Also nice to see an increase in inventory for the second month in a row.  The Palm City FL real estate market continues to show excellent resilience even as we approach our typically slower season.
 The current absorption rate increased slightly to to 6.5 months from 6 months in September.  Still 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 October 2014 numbers were:  455 active listings, 122 pending sales and 58 closed sales.  Same closed activity as last year and higher pending numbers even with reduced inventory.

Palm City FL 34990 Residential Market Report October 2015

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Palm City FL 34990 Residential Market Report October 2015

Palm City FL 34990 Condo Market Report September 2015

10.16.15 by

Palm City FL 34990 Condo Market Report September 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for September 2015

 

For September 2015 in the 34990 Zip Code area of Palm City, Florida :



There are currently 52 active condo listings. (No change in active condos from August)

Palm City FL 34990 Condo Market Report September 2015

8 Condo sales are pending and awaiting close or lender approval. (No change in pending condos from last month)

Palm City FL 34990 Condo Market Report September 2015

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

Palm City FL 34990 Condo Market Report September 2015

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Very little change month to month for the Palm City condo market.  One less sale and everything else remained unchanged.

The current absorption rate for condos in the 34990 zip code area jumped to 17.3 months (was 13 months in September).   Even greater buyer’s market than last month. A balanced market is considered to be an absorption rate of around 6 to 7 months, so this market continues as a strong buyers market.
The September 2014 numbers were: 60 active listings, 4 pending sales and 0 closed sales.   Better activity this year for condos in Palm City.
Palm City FL 34990 Condo Market Report September 2015

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Palm City FL 34990 Condo Market Report September 2015

Palm City FL 34990 Residential Market Report September 2015

10.15.15 by

Palm City FL 34990 Residential Market Report September 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for September 2015

 

For September 2015 in the 34990 Zip Code area of Palm City Florida :

 

There are currently 365 active listings (Increased by 10 homes from August)

Palm City FL 34990 Residential Market Report September 2015

 155 Residential sales are pending and awaiting close or lender approval. (Decreased by 1 homes from last month)

Palm City FL 34990 Residential Market Report September 2015

60 Homes Sold in August (Decreased by 14 sold homes from August)

Palm City FL 34990 Residential Market Report September 2015

After a very strong August, the Palm City FL 34990 residential real estate market continues to show excellent sales activity. Also nice to see an increase in inventory for this month. This could be a result of the continuing fairly strong gains in prices in the past two years.
 The current absorption rate increased slightly to to 6 months from 4.8 months in August.  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 September 2014 numbers were:  433 active listings, 120 pending sales and 70 closed sales.  Better closed numbers last year, but even with the reduced inventory there is a greater number of pending sales for this year.

Palm City FL 34990 Residential Market Report September 2015

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Palm City FL 34990 Residential Market Report September 2015