Palm City FL 34990 Condo Market Report March 2016

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for March 2016

 

For March 2016 in the 34990 Zip Code area of Palm City, Florida :

There are currently 65 active condo listings. (No change in active condos from February)

  

15 Condo sales are pending and awaiting close or lender approval. (Up by 1 condos from last month)

4 Condos Sold in March. (Down by 2 condos from February)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For March of 2015 sales were off while there was a small increase in pending sales.  Inventory is actually higher than in the recent past.

The current absorption rate for condos in the 34990 zip code area rose to 16.25 months (was 10.8 months in March).   An extreme buyers market for Palm City condos, though these numbers should be taken with a grain of salt because of the low number of available properties.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The March 2015 numbers were: 48 active listings, 15 pending sales and 6 closed sales.   Slightly better activity last year when compared to March of 2016, along with the unusual fact of greater inventory this year when compared to 2015.