For February 2013 in the 34990 Zip Code area of Palm City, Florida :
There are currently 69 active condo listings. (No change from January)
7 Condo sales are pending and awaiting close or lender approval. (Down 1 condo from last month)
4 Condos Sold in February. (Up by 1 condo from January)
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. Thus making meaningful market comparisons somewhat difficult as small changes can have a great effect on the percentages and results. For February, the Palm City condo market activity had no change in inventory and one less pending sale and one greater closed sale.
The current absorption rate for condos in the 34990 zip code area is 17.3 months. A very strong buyers’ market, as a balanced market is considered to be an absorption rate of around 6 months.
The February 2012 numbers were: 71 active listings, 1 pending sales and 5 closed sales. Close comparison to last year, with the exception of the increased pending activity this year.