Palm City FL 34990 Condo Market Report May 2017

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

 

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

There are currently 76 active condo listings. (Decreased by 10 condos from April)

  

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

4 Condos Sold in May. (Down by 4 condos from April)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Market activity remains pretty slow for Palm City condos and 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 jumped to 19 months (was 10.8 months in May).  A strong buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The May 2016 numbers were: 62 active listings, 13 pending sales and 7 closed sales.   Better volume on lower inventory from last year.

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