Palm City FL 34990 Condo Market Report July 2015

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

 

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

There are currently 60 active condo listings. (Up by 9 condos from June)

7 Condo sales are pending and awaiting close or lender approval. (Decreased by 7 condos from last month)

6 Condos Sold in July. (Down by 2 condos from June)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  It’s good to see a rebound in the inventory, though unfortunately both closed and pending sales were off this month.  Not unexpected as the condo market often slows down during the summer season.

The current absorption rate for condos in the 34990 zip code area declined to 10 months (was 6.4 months in August).   Back into a buyer’s market after last month’s balanced market. 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 July 2014 numbers were: 59 active listings, 6 pending sales and 1 closed sales.   Even though July was slower than June, it is still much better activity than for last July.