Palm City FL 34990 Condo Market Report June 2016

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

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

There are currently 65 active condo listings. (Increased by 3 condos from May)

  

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

7 Condos Sold in June. (No change in sold condos from May)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  The activity in this market has slowed considerably for June and with the weak pending numbers, this may continue for the next few months.

The current absorption rate for condos in the 34990 zip code area shot up to 16.3 months (was 8.9 months in June).   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 June 2015 numbers were: 51 active listings, 14 pending sales and 8 closed sales.   Better activity last year as compared to this year even with increased inventory for 2016.