Palm City FL 34990 Residential Market Report August 2016
Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for August 2016
For August 2016 in the 34990 Zip Code area of Palm City Florida :
There are currently 391 active listings (Increased by 8 homes from July)
116 Residential sales are pending and awaiting close or lender approval. (Down by 4 homes from last month)
68 Homes Sold in July (Down by 15 homes from July)
The Palm City FL, zip code 34990 residential real estate market activity eased a bit from last month. Both closed and pending sales are off for the month. Though, we're still in a sellers market for Palm City.
The monthly absorption rate increased to to 5.8 months from 4.6 months in July. Drifting towards a balanced market for the Palm City zip code 34990 area for residential sales. A 6 to 7 month absorption rate is typically considered a balanced market that doesn't favor either sellers or buyers.
The August 2015 numbers were: 355 active listings, 155 pending sales and 74 closed sales. Our inventory is considerably higher this year, but the sales activity has slowed considerably and is less than that for the August 2015 time period.
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Palm City Florida Real Estate presented by: the Gabe Sanders real estate team
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