Palm City FL 34990 Residential Market Report December 2014
Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for December 2014
For November 2013 in the 34990 Zip Code area of Palm City Florida :
There are currently 431 active listings (Decreased by 2 homes from November)
115 Residential sales are pending and awaiting close or lender approval. (Decreased by 9 homes from last month)
76 Homes Sold in November (Up by 20 homes from November)
The Palm City FL 34990 residential real estate market ended 2014 with a strong run on closed sales. Pending activity was off slightly as was the active inventory. I am anticipating increased inventory as we head into 2015 as well as growing pending and closed sales in the months to follow.
The current absorption rate decreased to 5.7 months from 7.7 months in November. Back into a sellers market after a two month slide into a buyers market. A 6 to 7 month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.
The December 2013 numbers were: 399 active listings, 140 pending sales and 73 closed sales. Higher inventory for Palm City this year with very similar closed sales and less pending. Market activity was stronger in 2013.
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