Palm City FL 34990 Condo Market Report March 2015

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for March 2015

 

For March 2015 in the 34990 Zip Code area of Palm City, Florida :

There are currently 48 active condo listings. (Down by 6 condos from February)

15 Condo sales are pending and awaiting close or lender approval. (Increased by 2 condos from last month)

6 Condos Sold in March. (Up by 2 condos from February)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Both pending and closed sales were up for March while our inventory of available condos for sale continues to shrink.

The current absorption rate for condos in the 34990 zip code area declined to 8 months (was 13.5 months in August).   An improvement from last month, and approaching a balanced 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 March 2013 numbers were: 57 active listings, 5 pending sales and 1 closed sales.   Considerably better activity for this year, even with the reduced inventory of available condos for sale.

 

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