Palm City FL 34990 Condo Market Report June 2019

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for June 2019

For June 2019 in the 34990 Zip Code area of Palm City, Florida :

There are currently 66 active condo listings. (Decreased by 2 condos from May)

 

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

12 Condos Sold in June. (Up by 4 condos from May)

The Palm City FL 34990 condo real estate market remains a fairly small segment of the Martin County condo market.  The sales activity in this market is challenging because of two condo communities with high equity and association fees that are currently not in favor with the general public.  Though, those who love golf, there are some incredible bargains in these communities.  June was a good month for this segment of condo real estate in Martin County.

The current absorption rate for condos in the 34990 zip dropped to 5.5 months (was 8.5 months in May).  Shifting into a seller’s market for Palm City condos for the first time in a while.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The June 2018 numbers were: 86 active listings, 8 pending sales, and 9 closed sales.  A better volume of sales and pending sales this year all on a reduced inventory of available condos.

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