Palm City FL 34990 Condo Market Report January 2017

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

 

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

There are currently 91 active condo listings. (Increased by 5 condos from December)

  

8 Condo sales are pending and awaiting close or lender approval. (Unchanged from last month)

5 Condos Sold in January. (Up by 1 condos from December)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  The inventory continues to rise while closed and pending sales are basically holding steady.

The current absorption rate for condos in the 34990 zip code area decreased to 18.5 months (was 21.5 months in January). Still an extreme 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 January 2016 numbers were: 64 active listings, 9 pending sales and 2 closed sales.   Better closed sales numbers this year, but this is with a considerable increase in inventory.

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