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

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Topic:
Real Estate Market Trends
Location:
Florida Martin County Palm City
Groups:
Market Reports
Advice for Sellers
Advice for Buyers
City and State Community & Marketing Reports
2018 Market Reports
Tags:
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palm city fl

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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

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

Jul 03, 2018 06:51 PM #1
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 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 #2
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Happy Independence Day!

This is a Longwood Gardens photograph.

Jul 04, 2018 07:45 AM #3
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Gabe Sanders

Stuart Florida Real Estate
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