Palm City FL 34990 Condo Market Report March 2018

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for March 2018

For March 2018 in the 34990 Zip Code area of Palm City, Florida :

There are currently 96 active condo listings. (Decreased by 7 condos from February)

  

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

9 Condos Sold in March. (Up by 5 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 there was improvement for both closed and pending sales.  The Palm City condo market is hampered by two equity golf course communities with slow sales in the current environment.

The current absorption rate for condos in the 34990 zip code area dipped to 10.7 months (was 25.8 months in July).  Still in a buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The March 2017 numbers were: 95 active listings, 10 pending sales, and 4 closed sales.  Slightly better activity last year even on a reduced number of condos available for sale (inventory).

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