Palm City Florida Market Report ZIP Code 34990 – Condo, December 2011

Palm City Florida Market Report ZIP Code 34990 – Condo, December 2011

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for December 2011

For December, 2011 in the 34990 Zip Code area of Palm City, Florida :



There are currently 65 active condo listings. (Up 5 from November)

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

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1 Condos Sold in December. (Unchanged from 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. With only 65 currently active listings, it is not a very large market.  Last year at this time there were 78 active listings, and the market was more active with 5 pending sales and 6 closed sales as compared to this years anemic 3 and 1 respectively. The condo market overall remains significantly more sluggish as compared to the single family residential market.
Speculating on the reasons for this could be the current low prices of single family units. The difficulty of obtaining financing for condos in this lending environment and the nervousness regarding the economy and future being felt by the more senior set that tend to go for the condo type of housing. Condo sales tend to be more active after the holidays and we will hopefully see an increase in activity following the holiday season.

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Palm City Florida Market Report ZIP Code 34990 – Condo, December 2011

Palm City Florida Market Report ZIP Code 34990 – Residential, December 2011

Palm City Florida Market Report ZIP Code 34990 – Residential, December 2011

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for December 2011

 

For December, 2011 in the 34990 Zip Code area of Palm City Florida :


There are currently 478 active listings (Increased by 10 homes from November)

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114 Residential sales are pending and awaiting close or lender approval. (A decrease of 30 homes from last month)

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57 Homes Sold in December (An increase of 21 homes sold from November)

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For the Palm City, zip code 34990, area of Martin County Florida, it was a strong month for closed sales.  Unfortunately, it was also the second month of increasing inventory (active listings) and also a decrease in pending sales for the future.  Comparing these numbers to December of 2010, when there were 577 active listings, 110 pending sales and 45 homes sold, we are in a better position in all categories.  With the height of the snow bird season coming, we should see some increase in activity.  The Palm City market, however, is not as seasonally influenced as our more coastal areas as this market is heavily influenced by family areas that tend not to be as seasonal, with an increase in activity normally more towards the spring and summer seasons.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, December 2011

Equestrian Estate on 5 Acres in Palm City Farms – Price Reduced


Equestrian Estate on 5 Acres in Palm City Farms – Price Reduced

The price has been reduced to $799,000.  A great opportunity for the professional equestrian or the hobbyist at 5605 SW Ranchito Street in Palm City, Florida!

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$799,000
Single Family Home
Main Features
5 Bedrooms
5 Bathrooms
Interior: 5,169 sqft
Lot: 5.00 acre(s)
Location
5605 SW Ranchito Street
Palm City, FL 34990
USA

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Palm City Florida Market Report ZIP Code 34990 – Condo, November 2011

Palm City Florida Market Report ZIP Code 34990 – Condo, November 2011

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for November 2011

For November, 2011 in the 34990 Zip Code area of Palm City, Florida :



There are currently 60 active condo listings. (Up 1 from October)

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

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1 Condos Sold in November. (A decrease of 1 condo from 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.  With only 60 currently active listings, it is not a very large market.   Last year at this time there were 78 active listings, and the market was more active with 5 pending sales and 6 closed sales as compared to this years anemic 3 and 1 respectively.  The condo market overall remains significantly more sluggish as compared to the single family residential market.
Speculating on the reasons for this could be the current low prices of single family units.  The difficulty of obtaining financing for condos in this lending environment and the nervousness regarding the economy and future being felt by the more senior set that tend to go for the condo type of housing.  Condo sales tend to be more active after the holidays and we will hopefully see an increase in activity following the holiday season.

Search here for Palm City Florida Real Estate for Sale ( Condos)
Search for Martin County Real Estate


Palm City Florida Real Estate presented by:
Gabe Sanders

Palm City Florida Market Report ZIP Code 34990 – Condo, November 2011

Palm City Florida Market Report ZIP Code 34990 – Residential, November 2011

Palm City Florida Market Report ZIP Code 34990 – Residential, November 2011

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for November 2011

 

For November, 2011 in the 34990 Zip Code area of Palm City Florida :


There are currently 468 active listings (Increased 11 homes from October)

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

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36 Homes Sold in November (A decrease of 5 homes from October)

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For the Palm City, zip code 34990, area of Martin County Florida, we had a second month of increasing inventory, although modest in number.  Also an increase in pending sales, but unfortunately a decrease in closed sales.  Comparing the numbers to November of 2010 when there were 608 active listings, 121 pending sales and 40 closed sales, there is significantly less inventory thisyear, with sales close to equal of last year as well as a higher number of pending sales.  Of the closed sales in the past few months, there are a significantly higher number of homes in the medium to upper price ranges as compared to the past few years, showing a renewed interest in the medium and upper end of the market.

Provided the numbers for distressed homes don’t increase in 2012, we should see continued groth and good activity in the Palm City, Florida real estate market.

 

Search here for Palm City Florida Real Estate for Sale

Palm City Florida Real Estate presented by:
the Gabe Sanders real estate team

 

Palm City Florida Market Report ZIP Code 34990 – Residential, November 2011