Palm City FL 34990 Condo Market Report February 2018

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

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

There are currently 103 active condo listings. (Increased by 1 condos from January)

  

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

4 Condos Sold in February. (Down by 9 condos from January)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For February closed sales were off from last month.  Inventory and pending sales showed incrementalimprovements.

The current absorption rate for condos in the 34990 zip code area shot up to 25.8 months (was 6.8 months in July).  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 February 2017 numbers were: 92 active listings, 11 pending sales, and 6 closed sales.  Slightly better activity last year even on a reduced number of condos available for sale (inventory).

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Palm City FL 34990 Condo Market Report January 2018

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

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

There are currently 102 active condo listings. (Increased by 1 condos from December)

  

9 Condo sales are pending and awaiting close or lender approval. (Down by 7 condos from last month)

15 Condos Sold in January. (Up by 5 condos from December)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For January the market activity showed some positive gains with a nice increase in closed sales.  Unfortunately, pending sales were down which may indicate fewer closed sales in the coming months.

The current absorption rate for condos in the 34990 zip code area dropped to 6.8 months (was 10.1 months in July).  Into a balanced market for Palm City condominiums.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The January 2017 numbers were: 91 active listings, 8 pending sales, and 5 closed sales.  Considerably better activity this year with a higher inventory of available condos for sale.

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Palm City FL 34990 Condo Market Report December 2017

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

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

There are currently 101 active condo listings. (Increased by 16 condos from November)

  

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

10 Condos Sold in December. (Up by 6 condos from November)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For December the market activity increased from last month in all categories for Palm City condos.

The current absorption rate for condos in the 34990 zip code area dropped to 10.1 months (was 21.25 months in July).  Still a buyer’s market for Palm City condominiums but trending in the right direction.  A balanced market is considered to be an absorption rate of around 6 to 7 months. (A good percentage of the difficult buyer’s market is a result of two equity golf club communities which are having some difficulty with the volume of sales.)

The December 2016 numbers were: 86 active listings, 8 pending sales and 4 closed sales.   Better activity for this year with a higher inventory of available condos for sale.

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Palm City FL 34990 Condo Market Report November 2017

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

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

There are currently 85 active condo listings. (Increased by 10 condos from October)

  

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

4 Condos Sold in November. (Up by 2 condos from July)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  For November the market activity increased from last month in all categories for Palm City condos.

The current absorption rate for condos in the 34990 zip code area dropped to 21.25 months (was 37.5 months in July).  Now in 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. (A good percentage of the difficult buyer’s market is a result of two equity golf club communities which are having some difficulty with the volume of sales.)

The November 2016 numbers were: 80 active listings, 11 pending sales and 3 closed sales.   Slightly better activity for this year when compard to November of 2016.

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Palm City FL 34990 Condo Market Report October 2017

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

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

There are currently 75 active condo listings. (Increased by 7 condos from September)

  

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

2 Condos Sold in October. (Down by 1 condos from July)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Market activity dropped for Palm City condos and this segment remains a difficult one for sellers.  (Though a good part of this difficulty comes from two equity golf club communities.)

The current absorption rate for condos in the 34990 zip code area jumped to 37.5 months (was 22.7 months in July).  Now in 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 October 2016 numbers were: 76 active listings, 9 pending sales and 5 closed sales.   Better activity last year.

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Palm City FL 34990 Condo Market Report September 2017

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

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

There are currently 68 active condo listings. (Decreased by 5 condos from August)

  

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

3 Condos Sold in September. (Down by 5 condos from July)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Market activity dropped for Palm City condos and remains a difficult market for sellers.  (Though a good part of this difficulty comes from two equity golf club communities.)  Some of this decreased activity may have been caused by Hurricane Irma which shut down real estate for a little over a week last month

The current absorption rate for condos in the 34990 zip code area jumped to 22.7 months (was 9.1 months in July).  Still in a buyer’s market for Palm City condominiums, but much less extreme than last month.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The September 2016 numbers were: 71 active listings, 9 pending sales and 4 closed sales.   Slightly better activity last year.

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Palm City FL 34990 Condo Market Report August 2017

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

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

There are currently 73 active condo listings. (Decreased by 2 condos from July)

  

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

8 Condos Sold in August. (Up by 6 condos from July)

The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market.  Market activity improved for Palm City condos but remains a difficult market for sellers.  (Though a good part of this difficulty comes from two equity golf club communities.)

The current absorption rate for condos in the 34990 zip code area dropped to 9.1 months (was 37.5 months in July).  Still in a buyer’s market for Palm City condominiums, but much less extreme than last month.  A balanced market is considered to be an absorption rate of around 6 to 7 months.

The August 2016 numbers were: 61 active listings, 8 pending sales and 1 closed sales.   Better closed activity this year on increased inventory while pending sales remained unchanged.

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