For April 2013 in the 34990 Zip Code area of Palm City Florida :
There are currently 436 active listings (Decrease of 10 homes from April)
175 Residential sales are pending and awaiting close or lender approval. (Increased by 9 homes from last month)
72 Homes Sold in April (Decreased by 10 homes from April)
A solid month for the Palm City FL 34990 residential real estate market. Not quite as strong as the very active April that we had, but good activity none the less. Closed sales were off from April, but remained at a strong level and pending sales rose indicating a potential for good future activity. The inventory declined slightly.
The current absorption rate increased to 6.1 months from 5.4 months in April, putting the Palm City residential real estate market back into 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 2012 numbers were: 391 active listings, 167 pending sales and 77 closed sales. When the increased inventory is figured in, numbers are very similar to last years excellent activity.