Palm City FL 34990 Condo Market Report August 2019

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for August 2019

There are currently 80 active condo listings. (Increased by 3 condos from July)

 

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

3 Condos Sold in August. (Unchanged from July)

The Palm City FL 34990 condo real estate market remains a fairly small segment of the Martin County condo market.  The sales activity in this market is challenging because of two condo communities with high equity and association fees that are currently not in favor with the general public.  Though, those who love golf, there are some incredible bargains in these communities.  August continued to display difficulties for this market.

The current absorption rate for condos in the 34990 zip rose to 26.7 months (was 25.7 months in July). Remaining in an extreme buyer’s market for Palm City condos.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The August 2018 numbers were: 76 active listings, 7 pending sales, and 7 closed sales.  There was somewhat better activity last year.

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