Danforth in Palm City February 2017 Market Report

As of February, 2017:

There are currently 2 active listings for sale in Danforth. The list prices for these Danforth homes are $424,500 and $475,000 for an average list price of $449,750 or $173.54 per sq. ft. of living area.

3 homes are currently under contract. The list prices of these pending sales range from $349,500 up to $450,000 with the average being $388,000 which equates to an average price per sq. ft. of living area of $171.00. These 3 homes averaged 98 day on the market before going under contract.

In the past 12 months 18 homes have sold in Danforth. The sales prices ranged from $$300,000 up to $450,000. The average sales price was $382,981 or $159.40 per sq. ft. of living area. These sold listings averaged 44 days on the market before going under contract and sold at 97% of the list price.

Danforth in Palm City Florida is wonderful family subdivision with 335 homes of all sizes and shapes with a wonderful family friendly neighborhood feel. Well located in palm City off SW Martin Highway and within walking distance of both the Palm City Elementary and Hidden Oaks Middle Schools. Both of these schools are top rated in the Martin County school system as well as in the State of Florida.

Many homes are lakefront with beautiful views and a wonderful private feeling, yet this community is within a mile of the new Publix and also close to restaurants and medical facilities. Easy access to downtown Stuart as well via the new Veteran’s Memorial Bridge from Palm City to Stuart. Also just a couple of minutes to Florida’s Turnpike for those wishing to either commute or to make a short trip to West Palm Beach or other points just North or South.

Danforth features low HOA fees of $328.00 per quarter (as of July 2017). Construction in Danforth was first completed in 1990 with most homes dated from then to the late 1990’s and at least one home completed in 2001. This planned unit development (PUD) was developed by Danforth Development Inc. and various builders took part in the construction of the homes. Here is the Danforth Home Owners Association web site. Danforth just added an remote code controlled entry gate system in 2014.

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Danforth in Palm City February 2017 Market Report

Palm City FL 34990 Condo Market Report January 2017

02.20.17 by Gabe Sanders

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)

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

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

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

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Palm City FL 34990 Condo Market Report January 2017

Palm City FL 34990 Residential Market Report January 2017

02.19.17 by Gabe Sanders

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)

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

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

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.

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Palm City FL 34990 Residential Market Report January 2017

Murano Homes January 2017 Housing Market Report

01.31.17 by Gabe Sanders

Murano Homes January 2017 Housing Market Report

Palm City Florida Real Estate

There are currently 5 homes on the MLS in Murano with prices ranging from $299,900 to $379,900. This equals an average list price of $337,900 or $133.67 per sq. ft. of living area.

There is 1 home under contract at this time in the Murano subdivision of Palm City, FL. This home was listed for $329,999 or $131.68 per sq. ft. of living area. An offer was accepted for this home only 6 days after being listed.

In the past year, 12 homes have sold in Murano with sales prices ranging from $259,000 to $315,000 for an average sales price of $288,563 which equals $128.21 per sq. ft. of living area. The average days on market before going under contract was 63 and the list to sales price ratio was 95%..

Conveniently located off of martin Downs Blvd and Sunset Trail, Murano is a new home community with 110 homes. Originally developed by Home Dynamics with homes built in 2007 and later this community was taken over by D. R. Horton with building resuming in 2011 to the present. Murano homes range from two story 5 Bedroom 4 bathroom homes of 0ver 3,200 sq. ft. to single story 2 Bedroom, 2 bath homes of just over 1,700 sq. ft.

This is a very family friendly neighborhood close to schools, shopping and Florida’s Turnpike for commuters. There is a community pool and low HOA fees of approximately $65 per month (as of this writing).

There may be a few new D. R. Horton homes available for sale, but this community is just about sold out so call us for details.

For the D.R. Horton homes, highlights include:
Choice of 5 NEW Floor plans
GE Appliance Package
Various home sites available including lakefront
Community Swimming Pool and Cabana
Top Rated Palm City Schools
Easy commute via I-95 or Florida Turnpike
Close proximity to area recreation including beaches, parks, boating, fishing and all types of water sports
Shopping, entertainment and restaurants are all nearby.

We are very excited to be able to offer some special promotional packages not available directly from the builder.

Murano Homes in palm City Florida

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Murano Homes January 2017 Housing Market Report

Palm City FL 34990 Condo Market Report December 2016

01.21.17 by Gabe Sanders

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)

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

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

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