Is Palm City, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Palm City was a Seller's Market.
Key Takeaway
Palm City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Palm City, FL
How much do homes in Palm City, FL cost?
Median Sold Price
$679,666
$291/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Palm City have sold for 18.3% more than they did a year ago.
Summary: The median home sold price in Palm City was $679,666 in June 2024, up 18.3% from last year, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $185K | +2.8% |
| 2 Bedrooms | $351.1K | $319K | -9.2% |
| 3 Bedrooms | $550K | $599.9K | +9.1% |
| 4 Bedrooms | $875K | $975K | +11.4% |
| 5+ Bedrooms | $920K | $1.2M | +36.6% |
Summary: Palm City housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes decreased by 9.2%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 36.6%.
Median Sold Price Compared To Nearby Cities
| Indiantown | $592.2K | $710K | +19.9% |
| Palm City | $574.5K | $679.6K | +18.3% |
| Port Salerno-Hobe Sound | $452.4K | $503.3K | +11.3% |
| Stuart | $375K | $411.4K | +9.7% |
| Port Saint Lucie | $389.7K | $399.9K | +2.6% |
Housing Supply in Palm City, FL
How many homes are available in Palm City, FL?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 240 | 266 | +10.8% |
Summary: The Palm City real estate market had 266 homes for sale in June 2024, a 10.8% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 40 | 36 | -10.0% |
| 3 Bedrooms | 101 | 126 | +24.8% |
| 4 Bedrooms | 65 | 70 | +7.7% |
| 5+ Bedrooms | 34 | 34 | 0.0% |
Summary: The Palm City housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 24.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 26 | 41 | +57.7% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Palm City, you may be able to get a good deal. 85.4% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in Palm City in June 2024, up by 57.7% month-over-month. Of the 41 sold homes, 85% were sold under asking, 12% were sold at asking, and 2% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 55 Days | 69 Days | +25.5% |
Summary: Homes in Palm City had an average of 69 days on market in Jun 2024, up by 25.5% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palm City are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 41 homes were sold in Palm City; 41% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc. 
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.