Palm City FL 34990 Condo Market Report November 2018

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

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

There are currently 89 active condo listings. (Increased by 9 condos from October)

  

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

2 Condos Sold in November. (Down by 5 condos from October)

The Palm City FL 34990 condo real estate market remains a fairly small segment of the Martin County condo market.  Very slow market activity for November.  The sales activity in this market is skewed by two tough condo communities with high equity and association fees that make this market quite challenging.

The current absorption rate for condos in the 34990 zip code area rocketed up to 44.5 months (was 111.4 months in November).  An extreme buyer’s market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The November 2017 numbers were: 85 active listings, 14 pending sales, and 4 closed sales.  Better activity last year.

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