Palm City FL 34990 Condo Market Report July 2016

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

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

There are currently 60 active condo listings. (Decreased by 5 condos from June)

  

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

3 Condos Sold in July. (Down by 4 condos from June)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Condo sales were off considerably for July.  Not totally unexpected as typically the summer months are the slow time for Palm City condo sales.

The current absorption rate for condos in the 34990 zip code area continued to rise to 20 months (was 16.3 months in July).   Now one of the few areas where it’s a strong buyers market in Martin County.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The July 2015 numbers were: 60 active listings, 7 pending sales and 6 closed sales.   Slightly better sales numbers last year, otherwise everything else is identical for this year.