Palm City FL 34990 Condo Market Report April 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for April 2015

 

For April 2015 in the 34990 Zip Code area of Palm City, Florida :

There are currently 55 active condo listings. (Up by 7 condos from March)

11 Condo sales are pending and awaiting close or lender approval. (Decreased by 4 condos from last month)

7 Condos Sold in April. (Up by 1 condos from March)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Pending sales were off from last month while we had one additional closed sale for April.  There was an increase in inventory which is a good sign for the future.

The current absorption rate for condos in the 34990 zip code area declined to 7.9 months (was 8 months in August).   A marginal improvement from last month, and getting closer to a desirable balanced market.  A balanced market is considered to be an absorption rate of around 6 to 7 months, so this market continues as a strong buyers market.

The April 2014 numbers were: 53 active listings, 8 pending sales and 7 closed sales.   Except for some better pending sales, almost identical activity to last year.