Palm City FL 34990 Condo Market Report March 2017

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

 

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

There are currently 95 active condo listings. (Increased by 3 condos from February)

  

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

4 Condos Sold in March. (Down 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.  For March of 2017 activity decreased for both pending and closed sales and there’s quite a lot of room for improvement in this segment of the Martin County condo market.

The current absorption rate for condos in the 34990 zip code area jumped to 23.8 months (was 15.3 months in March). A very strong buyers’ market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The March 2016 numbers were: 65 active listings, 15 pending sales and 4 closed sales.   Similar activity this year but with a much larger inventory.

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