Palm City FL 34990 Condo Market Report May 2018

Palm City Real Estate Snapshot for ZIP Code 34990, Condo Sales for May 2018

For May 2018 in the 34990 Zip Code area of Palm City, Florida :

There are currently 87 active condo listings. (Decreased by 1 condos from April)

  

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

9 Condos Sold in May. (Up by 2 condos from April)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For May there was an improvement closed sales while pending sales were down by 4 condos.  The Palm City condo market is hampered by two equity golf course communities with slow sales in the current environment.

The current absorption rate for condos in the 34990 zip code area dropped to 9.7 months (was 12.6 months in July).  Still in a buyer’s market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The May 2017 numbers were: 76 active listings, 11 pending sales, and 4 closed sales.  There was better sales activity for this year.  The Palm City condo marketis one of the few areas in Martin County with a larger inventory this year than last.

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