Palm City FL 34990 Condo Market Report December 2017

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

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

There are currently 101 active condo listings. (Increased by 16 condos from November)

  

16 Condo sales are pending and awaiting close or lender approval. (Up by 2 condos from last month)

10 Condos Sold in December. (Up by 6 condos from November)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For December the market activity increased from last month in all categories for Palm City condos.

The current absorption rate for condos in the 34990 zip code area dropped to 10.1 months (was 21.25 months in July).  Still a buyer’s market for Palm City condominiums but trending in the right direction.  A balanced market is considered to be an absorption rate of around 6 to 7 months. (A good percentage of the difficult buyer’s market is a result of two equity golf club communities which are having some difficulty with the volume of sales.)

The December 2016 numbers were: 86 active listings, 8 pending sales and 4 closed sales.   Better activity for this year with a higher inventory of available condos for sale.

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