For November 2016 in the 34990 Zip Code area of Palm City, Florida :
There are currently 80 active condo listings. (Increased by 4 condos from October)
11 Condo sales are pending and awaiting close or lender approval. (Up by 2 condos from last month)
3 Condos Sold in November. (Down by 2 condos from October)
The Palm City FL 34990 condo real estate market is a fairly small segment of the Martin County condo market. Inventory has continued to rise while for this month sales were off making for a pretty strong buyers market. The bright note is an improved pending sales volume.
The current absorption rate for condos in the 34990 zip code area jumped up to 40 months (was 15.2 months in November). Currently an extreme buyers’ market for Palm City condominiums. A balanced market is considered to be an absorption rate of around 6 to 7 months.
The November 2015 numbers were: 53 active listings, 8 pending sales and 8 closed sales. Only the pending sales activity is improved when comparing last year’s activity.