Palm City FL 34990 Condo Market Report May 2016

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

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

There are currently 62 active condo listings. (Decreased by 3 condos from April)

  

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

7 Condos Sold in May. (Decreased by 1 condos from April)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For May of 2016 sales were off by 1 condo and pending sales were up by 1 while the inventory decreased, but still better than last year.

The current absorption rate for condos in the 34990 zip code area inched up to 8.9 months (was 8.1 months in May).   Still a 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 May 2015 numbers were: 55 active listings, 11 pending sales and 4 closed sales.   Somewhat better volume of sales and pending sales for 2016 when compared to last year.