Palm City FL 34990 Condo Market Report August 2017

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for August 2017

For August 2017 in the 34990 Zip Code area of Palm City, Florida :

There are currently 73 active condo listings. (Decreased by 2 condos from July)

  

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

8 Condos Sold in August. (Up by 6 condos from July)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Market activity improved for Palm City condos but remains a difficult market for sellers.  (Though a good part of this difficulty comes from two equity golf club communities.)

The current absorption rate for condos in the 34990 zip code area dropped to 9.1 months (was 37.5 months in July).  Still in a buyer’s market for Palm City condominiums, but much less extreme than last month.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The August 2016 numbers were: 61 active listings, 8 pending sales and 1 closed sales.   Better closed activity this year on increased inventory while pending sales remained unchanged.

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