Palm City FL 34990 Condo Market Report January 2016

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

 

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

There are currently 64 active condo listings. (Increased by 12 condos from December)

  

9 Condo sales are pending and awaiting close or lender approval. (No change in pending condos from last month)

2 Condos Sold in January. (Down by 2 condos from December)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  To begin 2016, this segment of the market had a nice increase in inventory, unfortunately a decrease in closed sales and no increase in pending sales.

The current absorption rate for condos in the 34990 zip code area is an atrocious 34 months (was 13 months in January).   A very serious buyers market for Palm City condos.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The January 2015 numbers were: 59 active listings, 12 pending sales and 3 closed sales.   Interestingly the inventory for 2016 is now higher than it was for the first month of 2015.  One of the only segments of our market that has this.  Unfortunately, activity is weaker this year as well.