Palm City FL 34990 Condo Market Report October 2018

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

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

There are currently 80 active condo listings. (Decreased by 3 condos from September)

  

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

7 Condos Sold in October. (Up by 1 condo from September)

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 skewed by two tough condo communities with high equity and association fees ythat make this market quite challenging.

The current absorption rate for condos in the 34990 zip code area decreased to 11.4 months (was 13.8 months in October).  Still 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 October 2017 numbers were: 75 active listings, 11 pending sales, and 2 closed sales.  Better sales activity this year but weaker pending sales activity.

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