Palm City FL 34990 Condo Market Report July 2017

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

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

There are currently 75 active condo listings. (Unchanged from June)

  

9 Condo sales are pending and awaiting close or lender approval. (Down by 1 condos from last month)

2 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.  Market activity remains pretty slow for Palm City condos and remains a difficult market for sellers.  (Though a good part of this difficulty comes from two equity golf club communities.)

The current absorption rate for condos in the 34990 zip code area jumped to 37.5 months (was 12.5 months in June).  An extreme buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The July 2016 numbers were: 60 active listings, 7 pending sales and 3 closed sales.   Invenory has increased from last year and activity is slightly slower as well.

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