Palm City FL 34990 Condo Market Report August 2016

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

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

There are currently 61 active condo listings. (Increased by 1 condos from July)

  

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

1 Condos Sold in August. (Down by 3 condos from July)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. Tere was only one closed sale for last month while pending sales remained almost unchanged and inventory rose slightly.

The current absorption rate for condos in the 34990 zip code area continued to rise, now at 61 months (was 20 months in August).   A very strong buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The August 2015 numbers were: 52 active listings, 8 pending sales and 5 closed sales.   Slightly higher inventory and not as active for closed sales this year as compared to last August.