Palm City FL 34990 Condo Market Report February 2017

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

 

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

There are currently 92 active condo listings. (Increased by 1 condos from January)

  

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

6 Condos Sold in February. (Up by 1 condos from January)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Activity was very similar to last month with small gains in pending and closed sales.

The current absorption rate for condos in the 34990 zip code area decreased to 15.3 months (was 18.5 months in February). Still a buyers’ 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.

The February 2016 numbers were: 65 active listings, 15 pending sales and 6 closed sales.   Similar activity this year but with a much larger inventory.

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