Palm City FL 34990 Condo Market Report June 2014

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for June 2014

 

For June 2014 in the 34990 Zip Code area of Palm City, Florida :

There are currently 56 active condo listings. (Up by 4 condos from May)

 

5 Condo sales are pending and awaiting close or lender approval. (Decreased by 5 condos from last month)

 

3 Condos Sold in June. (Down by 1 condo from May)

 

A second very weak month for the Palm City FL 34990 condo real estate market.  The inventory rose while both pending and closed sales declined.  The Palm City condo market is quite small and inferences into the more general condo market should not be made.

The current absorption rate for condos in the 34990 zip code area rose to 18.7 months (was 13 months in May).   A strong buyers 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 June 2012 numbers were: 54 active listings, 14 pending sales and 8 closed sales.   Much better activity in 2013.  Hopefully, this segment of the Martin County FL real estate market will strengthen soon.