Palm City FL 34990 Condo Market Report February 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for February 2015

 

For February 2015 in the 34990 Zip Code area of Palm City, Florida :

There are currently 54 active condo listings. (Down by 5 condos from January)

13 Condo sales are pending and awaiting close or lender approval. (Increased by 1 condo from last month)

4 Condos Sold in February. (Up by 1 condo from January)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Sales for Palm City condos were up slightly for February, as were pending sales.  Our active inventory is currently less than last year’s.

The current absorption rate for condos in the 34990 zip code area is 13.5 months (was 19.7 months in August).   An improvement from last month, but still have a ways to go for a balanced market.  A balanced market is considered to be an absorption rate of around 6 to 7 months, so this market continues as a strong buyers market.

The February 2013 numbers were: 63 active listings, 6 pending sales and 6 closed sales.   Better activity last year, though only slightly and there was greater inventory.