Palm City Florida Market Report ZIP Code 34990 Condo June 2013

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for June 2013

 

For June 2013 in the 34990 Zip Code area of Palm City, Florida :

There are currently 54 active condo listings. (Up by 2 condos from May)

 

14 Condo sales are pending and awaiting close or lender approval. (Decreased by 2 condos from last month)

 

8 Condos Sold in June. (Up 5 condos from May)

 

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.   Sales were up by more than double from last month, while pending sales were off by 2 condos, and a small increase of 2 condos to the inventory.

 

The current absorption rate for condos in the 34990 zip code area dropped to 6.8 months.  A steep drop to almost a balanced market for this month, as a balanced market is considered to be an absorption rate of around 6 months.

 

The June 2012 numbers were: 66 active listings, 5 pending sales and 3 closed sales.   Even with the significantly lower number of active condo listings, this year’s activity is much better.