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Palm City FL 34990 Residential Market Report May 2018

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Real Estate Agent with Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales 3090099

Palm City FL 34990 Residential Market Report May 2018

 PALM CITY REAL ESTATE Snapshot for ZIP Code 34990, Residential Sales for May 2018

For May 2018 in the 34990 Zip Code area of Palm City Florida :

 There are currently 340 active listings (Decreased by 24 homes from April)

Palm City FL 34990 Residential Market Report May 2018

176 Residential sales are pending and awaiting close or lender approval. (Down by 17 homes from last month)

Palm City FL 34990 Residential Market Report May 2018

106 Homes Sold in April (Up by 42 homes from April)

Palm City FL 34990 Residential Market Report May 2018

The Palm City FL, zip code 34990 residential real estate market continues to lose inventory at a fairly rapid rate.  This will make it difficult to sustain strong sales volume for the near future while this lasts.  For May, we had strong pending as well as closed sales volume.
 
The monthly absorption rate plunged to 3.2 months from 5.7 months in April.  Still a slight seller’s market for the Palm City zip code 34990 area for residential sales, though trending back towards a balanced market.  A 6 to 7-month absorption rate is typically considered a balanced market that doesn’t favor either sellers or buyers.

The May 2017 numbers were:  381 active listings, 174 pending sales, and 129 closed sales.  There was better closed activity last year on greater inventory.  Surprisingly, there is very strong pending activity this year.

Palm City FL 34990 Residential Market Report May 2018

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Palm City FL 34990 Residential Market Report May 2018

Comments (7)

Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Overall the market in Palm City still looks good. Happy 4th of July, Gabe.

Jul 03, 2018 06:51 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Gabe - you have an excellent strategy and consistency in getting 'out the word' for your area.  Truly an expert perspective. 

Jul 04, 2018 04:38 AM
Roy Kelley
Retired - Gaithersburg, MD

Happy Independence Day!

This is a Longwood Gardens photograph.

Jul 04, 2018 07:45 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

For more Market Reports visit my website for a complete list of current and past market data.

Aug 02, 2018 07:10 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for reading, here’s a link for more information about Martin County FL real estate.

Aug 02, 2018 07:11 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for reading, here’s a link for more information about Palm City, FL real estate.

Aug 02, 2018 07:11 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thank you for stopping by and taking the time to read my post.

Aug 02, 2018 07:11 AM