Palm City FL 34990 Condo Market Report April 2018

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for April 2018

For April 2018 in the 34990 Zip Code area of Palm City, Florida :

There are currently 88 active condo listings. (Decreased by 8 condos from March)

  

15 Condo sales are pending and awaiting close or lender approval. (Up by 3 condos from last month)

7 Condos Sold in April. (Down by 2 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 there was an improvement pending sales while closed sales were down by 2 condos.  The Palm City condo market is hampered by two equity golf course communities with slow sales in the current environment.

The current absorption rate for condos in the 34990 zip code area climbed to 12.6 months (was 10.7 months in July).  Still in a buyer’s market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The April 2017 numbers were: 86 active listings, 9 pending sales, and 8 closed sales.  Very similar activity as compared to last year with the exception of considerably better pending activity this year.

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