Palm City FL 34990 Condo Market Report April 2017

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

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

There are currently 86 active condo listings. (Decreased by 9 condos from March)

  

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

8 Condos Sold in April. (Up by 4 condos from March)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For April of 2017 closed sales increased and pending sales remained close to last month while the inventory decreased.

The current absorption rate for condos in the 34990 zip code area dropped to 10.8 months (was 23.8 months in April). Still a buyers’ market for Palm City condominiums, but trending towards a more balanced market.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

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The April 2016 numbers were: 65 active listings, 12 pending sales and 8 closed sales.   Very similar closed activity and less pending activity this year but with a larger inventory.

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