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 buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Palm City was a Seller's Market.

Key Takeaway

Palm City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Palm City, FL

How much do homes in Palm City, FL cost?

Median Sold Price

$683,666

$286/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$83,716(+14.0%)

Key Takeaway

Homes in Palm City have sold for 14% more than they did a year ago.

Summary: The median home sold price in Palm City was $683,666 in September 2024, up 14% from last year, and the median price per square foot was $286.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $185K$158K
-14.6%
2 $354.5K$315K
-11.1%
3 $584K$586.5K
0.4%
4 $905K$962K
+6.3%
5+ $1.0M$1.1M
+15.6%

Summary: Palm City housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.6%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 15.6%.

Median Sold Price Compared To Nearby Cities

Palm City
+14.0%
Indiantown
+12.1%
Stuart
+7.5%
Port Salerno-Hobe Sound
+7.3%
Port Saint Lucie
+3.0%

Housing Supply in Palm City, FL

How many homes are available in Palm City, FL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
252255+1.2%

Summary: The Palm City real estate market had 255 homes for sale in September 2024, a 1.2% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 4052
+30.0%
3 119115
-3.4%
4 6359
-6.3%
5+ 2928
-3.4%

Summary: The Palm City housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 30%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 3.4%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
4027-32.5%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

2 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. 92.6% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Palm City in September 2024, down by 32.5% month-over-month. Of the 27 sold homes, 93% were sold under asking, 7% 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

Sep 2023Sep 2024CHANGE
53 Days63 Days+17.6%

Summary: Homes in Palm City had an average of 63 days on market in Sep 2024, up by 17.6% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Palm City has remained consistent over time.

Summary: During September 2024, 27 homes were sold in Palm City; 33% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 26% 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 30 Days Ago

Newest Listings in Palm City, FL

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