Palm City Florida Market Report ZIP Code 34990 Residential May 2013

Palm City Florida Market Report ZIP Code 34990 Residential May 2013

 

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

 

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


There are currently 391 active listings (An increase of 9 homes from April)

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167 Residential sales are pending and awaiting close or lender approval. (A decrease of 19 homes from last month)

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77 Homes Sold in May (Increased by 1 home from April)

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For the Palm City, zip code 34990, area of Martin County Florida the residential market activity showed some signs of easing the torrid pace of this spring.  Closed sales increased by 1 home while the number of pending sales were off by 19.  On a positive note, the available inventory rose, making more homes available for those looking to buy.
 
The current absorption rate remains at 5 months.   The Palm City residential real estate market is a sellers market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The May 2012 numbers were:  462 active listings, 203 pending sales and 70 closed sales.  Closed sales remain strong as compared to last year.  Pending sales were weaker, but there is a significantly lower inventory as a cause.

 

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Palm City Florida Market Report ZIP Code 34990 Residential May 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, April 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, April 2013

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

 

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



There are currently 58 active condo listings. (Down 5 condos from March)

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14 Condo sales are pending and awaiting close or lender approval. (Increased by 5 condos from last month)

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7 Condos Sold in April. (Up 2 condos from March)

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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.   Considering that we are now down to only 58 active cndo listings, activity has been excellent for this market.  Both closed and pending sales were up for April.
 
The current absorption rate for condos in the 34990 zip code area is 8.2 months.  Now down to a slight buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
 
The April 2012 numbers were: 66 active listings, 3 pending sales and 1 closed sales.   Considerably better activity for 2013 than last year.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, April 2013

Palm City Florida Market Report ZIP Code 34990 – Residential, April 2013

Palm City Florida Market Report ZIP Code 34990 – Residential, April 2013

 

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

 

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


There are currently 382 active listings (A decrease of 16 homes from March)

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186 Residential sales are pending and awaiting close or lender approval. (An increase of 6 homes from last month)

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76 Homes Sold in April (Increased by 8 homes from March)

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For the Palm City, zip code 34990, area of Martin County Florida the residential market activity showed strong results for April.  Closed sales increased again and remained quite strong.  Pending sales also increased and show good potential for future closed sales.  The inventory continues to decline and this may be a troubling statistic in the future as fewer homes are available for sale.
 

The current absorption rate stands at 5 months.   The Palm City residential real estate market has slipped into a sellers market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The April 2012 numbers were:  462 active listings, 228 pending sales and 49 closed sales.  Our closed sales for this year remain considerably better than last year.  This is especially noteworthy with the reduced amount of available homes for sale.  Pending sales are lower this year and the inventory may very well be one of the factors for this lower number.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, April 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, March 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, March 2013

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

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



There are currently 63 active condo listings. (Down by 6 condos from February)

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

5 Condos Sold in March. (Up by 1 condo from February)

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.  For March, the Palm City condo market activity had a small decrease in an already small inventory.  Sales were up and pending sales were also up.
The current absorption rate for condos in the 34990 zip code area is 13.8 months.  A very strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
The March 2012 numbers were: 66 active listings, 2 pending sales and 3 closed sales.   Even with such small numbers, a considerably better performance in 2013 as opposed to last year.

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Palm City Florida Market Report ZIP Code 34990 – Condo, March 2013

Palm City Florida Market Report ZIP Code 34990 – Residential, March 2013

Palm City Florida Market Report ZIP Code 34990 – Residential, March 2013

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

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

 

There are currently 398 active listings (A decrease of 10 homes from February)

180 Residential sales are pending and awaiting close or lender approval. (A decrease of 21 homes from last month)

68 Homes Sold in March (Decreased by 5 homes from February)

For the Palm City, zip code 34990, area of Martin County Florida the residential market activity showed some mixed results for spring.  Sales doubled for the month (after two months of decreased sales activity).  Pending sales were off after a strong month in February.  The inventory decreased again and is now significantly lower than in the past few years.

The current absorption rate stands at 6.375 months.   A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The March 2012 numbers were:  476 active listings, 202 pending sales and 47 closed sales.  Even with the lower inventory this tear, our current market activity compares favorably to last year.

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Palm City Florida Market Report ZIP Code 34990 – Residential, March 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, February 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, February 2013

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

 

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



There are currently 69 active condo listings. (No change from January)

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7 Condo sales are pending and awaiting close or lender approval. (Down 1 condo from last month)

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4 Condos Sold in February. (Up by 1 condo from January)

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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.  For February, the Palm City condo market activity had no change in inventory and one less pending sale and one greater closed sale.
 
The current absorption rate for condos in the 34990 zip code area is 17.3 months.  A very strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
 
The February 2012 numbers were: 71 active listings, 1 pending sales and 5 closed sales.   Close comparison to last year, with the exception of the increased pending activity this year.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, February 2013

Palm City Florida Market Report ZIP Code 34990 – Residential, February 2013

Palm City Florida Market Report ZIP Code 34990 – Residential, February 2013

 

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

 

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


There are currently 408 active listings (A decrease of 3 homes from January)

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201 Residential sales are pending and awaiting close or lender approval. (An increase of 25 homes from last month)

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34 Homes Sold in February (Decreased by 5 homes from January)

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For the Palm City, zip code 34990, area of Martin County Florida the residential market activity shows promise for a strong spring.  Sales were off for the second month (slightly) representing the reduced traffic during the holidays.  Pending sales are up again and show good activity potential for the next few months.  The inventory went down just by a small amount, though still significantly lower than in the past few years.

The current absorption rate stands at 12.1 months.  This rate still signifies a buyer’s market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The February 2012 numbers were:  482 active listings, 176 pending sales and 49 closed sales.  Compared to last year, we have some better pending activity, yet fewer closed sales.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, February 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, January 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, January 2013

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

 

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



There are currently 69 active condo listings. (An increase of 6 condos from December)

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

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3 Condos Sold in January. (No change from December)

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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.  For January, other than a small increase in available condos, there was no change in other market activity.
 
The current absorption rate for condos in the 34990 zip code area is 23 months.  A very strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
 
The January 2012 numbers were: 68 active listings, 6 pending sales and 3 closed sales.   Close to being identical with this year’s activity.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, January 2013

Palm City Florida Market Report ZIP Code 34990 – Residential, January 2013

Palm City Florida Market Report ZIP Code 34990 – Residential, January 2013

 

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

 

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


There are currently 411 active listings (An increase of 13 homes from December)

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176 Residential sales are pending and awaiting close or lender approval. (An increase of 47 homes from last month)

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39 Homes Sold in January (Decreased by 6 homes from December)

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For the Palm City, zip code 34990, area of Martin County Florida, the real estate activity slowed again for the second month in a row.  The notable exception was a sizable jump in pending sales.  Providing that the majority of these sales will close in the next few months, we should have an active spring.  Inventory was also up slightly.  Good news as we need a variety of available homes to be on the market to have an active spring market. 

The current absorption rate stands at 10.5 months.  This rate still signifies a buyer’s market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The January 2012 numbers were:  474 active listings, 161 pending sales and 72 closed sales.  Closed sales were considerably better last year.  Even accounting for the higher inventory.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, January 2013

Palm City Florida Market Report ZIP Code 34990 – Condo, December 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, December 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for December 2012

 

For December 2012 in the 34990 Zip Code area of Palm City, Florida :



There are currently 63 active condo listings. (An increase of 2 condos from November)

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

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3 Condos Sold in December. (Down 2 sales for November)

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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.  For December, sales were off to 3 closed, from 5 the previous month. Pending sales were also off slightly.  The inventory of available condos for sale has taken another small increase for the second month in a row.
 
The current absorption rate for condos in the 34990 zip code area is 21 months.  A very strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
 
The December 2011 numbers were: 65 active listings, 3 pending sales and 1 closed sales.   Better activity this year as compared to the end of 2011.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, December 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, December 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, December 2012

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for December 2012

 

For December 2012 in the 34990 Zip Code area of Palm City Florida :


There are currently 398 active listings (A decrease of 6 homes from November)

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129 Residential sales are pending and awaiting close or lender approval. (A decrease of 7 homes from last month)

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45 Homes Sold in December (Decreased by 11 homes from November)

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For the Palm City, zip code 34990, area of Martin County Florida, the real estate activity slowed somewhat for the end of the year.  Both pending and closed sales were off slightly.  The inventory continued to decline as well.   I’m expecting the inventory to rise some with the new year as the current numbers are getting quite low.  If prices continue to increase, many underwater owners will be able to sell their homes with a little profit.
 

The current absorption rate stands at 8.8 months.  This rate still signifies a buyer’s market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The December 2011 numbers were:  478 active listings, 114 pending sales and 57 closed sales.  We are seeing the signs of a reduced inventory for the end of 2012 with a decreased number of closed sales.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, December 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, November 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, November 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for November 2012

For November 2012 in the 34990 Zip Code area of Palm City, Florida :



There are currently 61 active condo listings. (An increase of 2 condos from October)

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10 Condo sales are pending and awaiting close or lender approval. (Up 1 condo from last month)

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5 Condos Sold in November. (Up 5 from 0 sales for October)

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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.  For November, there were five condos sold, considerable improvement over the previous month which had no sales for condos in Palm City.  Both the available inventory and pending sales increased slightly for November.
 
The current absorption rate for condos in the 34990 zip code area is 12.2 months.  Still a strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
 
The November 2011 numbers were: 60 active listings, 3 pending sales and 1 closed sales.   Inventory is the same as last year.  Pending and closed sales are both improved for 2012.

 

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, November 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, November 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, November 2012

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for November 2012

 

For November 2012 in the 34990 Zip Code area of Palm City Florida :


There are currently 404 active listings (A decrease of 16 homes from October)

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136 Residential sales are pending and awaiting close or lender approval. (A decrease of 14 homes from last month)

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56 Homes Sold in November (Increased by 7 homes from October)

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For the Palm City, zip code 34990, area of Martin County Florida, another strong month during traditionally slow months.  Closed sales increased by 7.  The inventory of available homes for sale also decreased after an increase last month.  Pending sales were off by a bit and we expect some slower market activity for the next few months as we approach the holidays.

The current absorption rate stands at 7.2 months. Considerably better than it’s been in quite a while.  This is a slight buyer’s market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The November 2011 numbers were:  468 active listings, 144 pending sales and 36 closed sales.  Better numbers for closed sales as compared to  last November, especially when factoring in the lower inventory for this year.  Slightly less pending activity, though.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, November 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, October 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, October 2012

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for October 2012

 

For October 2012 in the 34990 Zip Code area of Palm City Florida :


There are currently 420 active listings (An increase of 18 homes from September)

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150 Residential sales are pending and awaiting close or lender approval. (An increase of 9 homes from last month)

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49 Homes Sold in October (Increased by 16 homes from September)

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For the Palm City, zip code 34990, area of Martin County Florida, a good strong October after a pretty weak September.  Closed sales came back up by 16 from a disappointing September.  The inventory of available homes for sale increased as well, but still remain at levels lower than they’ve been in quite a few years.  Pending sales were off by a bit and we expect some slower market activity for the next few months as we approach the holidays.

The current absorption rate stands at 8.6 months. Considerably better than last month’s over 1 year absorption rate.  This is a slight buyer’s market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.  Much of these numbers are a reflection of the slower activity which is typical for our area in the summer months.

The October 2011 numbers were:  468 active listings, 138 pending sales and 41 closed sales.  Better than last October, especially when factoring in the lower inventory for this year.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, October 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, October 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, October 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for October 2012

For October 2012 in the 34990 Zip Code area of Palm City, Florida :



There are currently 59 active condo listings. (A decrease of 3 condos from September)

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

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No Condos Sold in October. (Down 4 from September)

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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.  For October, their were no sales closed for condos in Palm City.  The inventory decreased slightly and pending sales increased by 3.
With no sales, the absorption rate is not applicable.
The October 2011 numbers were: 59 active listings, 2 pending sales and 2 closed sales.   Inventory is the same as last year.  Pending sales are much better this year.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, October 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, September 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, September 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for September 2012

For September 2012 in the 34990 Zip Code area of Palm City, Florida :

There are currently 62 active condo listings. (A decrease of 1 condo from August)

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

4 Condos Sold in September. (Unchanged from August)

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.  For September, the market was basically unchanged from August with only 1 condo less in the active inventory.

The one month absorption rate for the Palm City Florida condo market is 15.5 months.  Still a significant buyers market.
The September 2011 numbers were: 61 active listings, 4 pending sales and 1 closed sales.   Slightly better market activity this September, compared to last, but still plenty of room for improvement.

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Palm City Florida Market Report ZIP Code 34990 – Condo, September 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, September 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, September 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for September 2012

For September 2012 in the 34990 Zip Code area of Palm City Florida :

There are currently 402 active listings (An increase of 2 homes from August)

170 Residential sales are pending and awaiting close or lender approval. (An increase of 9 homes from last month)

33 Homes Sold in September (Decreased by 35 homes from August)

For the Palm City, zip code 34990, area of Martin County Florida activity slowed in September after a super spring.  Closed sales were off by a significant amount (50%).  However, pending sales were up showing some good potential for the fall.  The inventory of available homes for sale increased marginally, but still remain at levels lower than they’ve been in quite a few years.  The market activity remains active, much more so than in the past few years.

The current absorption rate shot up to just over 12 months, which is considered to be a buyers market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.  Much of these numbers are a reflection of the slower activity which is typical for our area in the summer months.

The September 2011 numbers were:  482 active listings, 124 pending sales and 49 closed sales.  Considerably improved market activity for September 2012, especially when the lower inventory is factored into the results.

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Palm City Florida Market Report ZIP Code 34990 – Residential, September 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, August 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, August 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for August 2012

For August 2012 in the 34990 Zip Code area of Palm City, Florida :



There are currently 63 active condo listings. (An increase of 1 condo from July)

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

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4 Condos Sold in August. (Up 3 from July)

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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.  For August, closed sales were up 3 units from the one sale of July.  Both pending sales and the inventory only changed by 1 unit for August.
The one month absorption rate for the Palm City Florida condo market is 15.5 months.  Still a significant buyers market.
The August 2011 numbers were: 52 active listings, 5 pending sales and 4 closed sales.   Very similar to this year.  The one statistic to note, unlike most other segments of the Martin County real estate market, the inventory for Palm City condos is up from last year.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, August 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, August 2012

Palm City Florida Market Report ZIP Code 34990 – Residential, August 2012

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for August 2012

 

For August 2012 in the 34990 Zip Code area of Palm City Florida :


There are currently 400 active listings (A decrease of 16 homes from July)

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161 Residential sales are pending and awaiting close or lender approval. (A decrease of 8 homes from last month)

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68 Homes Sold in August (Increased 5 homes from July)

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For the Palm City, zip code 34990, area of Martin County Florida activity remained strong for August after a super spring.  Closed sales were up again.  Pending sales were off for the first time in a number of months, possibly reflecting the typical seasonal slow down for Palm City Florida during the summer months.  The inventory of available homes for sale also declined again, now at levels approaching those during the height of the real estate boom in the mid 2000’s.  The market activity remains active, much more so than in the past few years.

The current absorption rate is 5.8 months, which is considered to be a balanced market, but sliding towards a sellers market.  A 6 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The August 2011 numbers were:  466 active listings, 139 pending sales and 42 closed sales.  Considerably improved market activity for August 2012, especially when the lower inventory is factored into the results.

 

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Palm City Florida Real Estate presented by:
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Palm City, FL Real Estate

Rental Properties

Residential Properties

Condominium Properties

Vacant Land Properties

Commercial Properties

Palm City Florida Market Report ZIP Code 34990 – Residential, August 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, July 2012

Palm City Florida Market Report ZIP Code 34990 – Condo, July 2012

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for July 2012

For July 2012 in the 34990 Zip Code area of Palm City, Florida :



There are currently 62 active condo listings. (A decrease of 4 condos from June)

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

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1 Condos Sold in July. (Down 2 from June)

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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.  For July, closed sales were only 1, and this particular condo sold at an extremely discounted price.  It is located in Pipers landing, so there were a number of other fees entailed in the purchase of this unit.  However pending sales increased to 7 condos and the inventory once again declined.

 

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Palm City Florida Market Report ZIP Code 34990 – Condo, July 2012