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)

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

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

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.