Palm City FL 34990 Condo Market Report February 2016

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

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

There are currently 65 active condo listings. (Increased by 1 condos from January)

  

15 Condo sales are pending and awaiting close or lender approval. (Up by 6 condos from last month)

6 Condos Sold in February. (Up by 4 condos from January)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For this month, we had some nice increases in both pending and closed sales while the inventory stayed almost constant.

The current absorption rate for condos in the 34990 zip code area dropped to 10.8 months (was 34 months in February).   Still a buyers market for Palm City condos, but trending towards a balanced one.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The February 2015 numbers were: 54 active listings, 13 pending sales and 4 closed sales.   Slightly better activity this year when compared to February of 2015, but we also have a greater inventory of available condos for sale.  Very unusual for today’s market.