Is Palm City, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palm City is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Palm City was a Neutral Market.

Key Takeaway

Palm City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Palm City, FL

How much do homes in Palm City, FL cost?

Median Sold Price

$675,000

$291/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$97,500(+16.9%)

Key Takeaway

Homes in Palm City have sold for 16.9% more than they did a year ago.

Summary: The median home sold price in Palm City was $675,000 in February 2024, up 16.9% from last year, and the median price per square foot was $291.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$185K
N/A
2 $319.9K$359.5K
+12.4%
3 $540K$635K
+17.6%
4 $841K$972.5K
+15.6%
5+ $1.1M$1.1M
+3.2%

Summary: Palm City housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 3.2%.

Median Sold Price Compared To Nearby Cities

Stuart
+25.1%
Indiantown
+19.8%
Palm City
+16.9%
Port Salerno-Hobe Sound
+10.6%
Port Saint Lucie
+2.1%

Housing Supply in Palm City, FL

How many homes are available in Palm City, FL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
183205+12.0%

Summary: The Palm City real estate market had 205 homes for sale in February 2024, a 12.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 2939
+34.5%
3 7277
+6.9%
4 5663
+12.5%
5+ 2626
0.0%

Summary: The Palm City housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 34.5%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1837+105.6%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palm City, you may be able to get a good deal. 91.9% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in Palm City in February 2024, up by 105.6% month-over-month. Of the 37 sold homes, 92% were sold under asking, 8% were sold at asking, and 0% were sold over asking.

Days on Market for Palm City, FL

How long does it take to sell a home in Palm City, FL?

Average Sale Time

Feb 2023Feb 2024CHANGE
57 Days67 Days+18.2%

Summary: Homes in Palm City had an average of 67 days on market in Feb 2024, up by 18.2% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Palm City are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 37 homes were sold in Palm City; 43% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

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