Palm City FL 34990 Condo Market Report January 2015

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

 

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

There are currently 59 active condo listings. (Down 2 condos from December)

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

3 Condos Sold in January. (Down by 3 condos from December)

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 off for January, but pending sales were up which is a positive sign for coming months.  Our active inventory is now almost identical to last year.

The current absorption rate for condos in the 34990 zip code area is 19.7 months (was 10.2 months in August).   Unfortunate drop for the first month of 2015.  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 January 2013 numbers were: 58 active listings, 5 pending sales and 2 closed sales.   Even though activity is off from last month, it’s still a better market than we had last year.