Is Palm City, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Palm City was a Seller's Market.
Housing Prices in Palm City, FL
How much do homes in Palm City, FL cost?
Median Sold Price
$670,333
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palm City was $670,333 in March 2024, up 15.4% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $185K | +5.7% |
2 Bedrooms | $327.4K | $347.5K | +6.1% |
3 Bedrooms | $552.5K | $622.5K | +12.7% |
4 Bedrooms | $822.5K | $925K | +12.5% |
5+ Bedrooms | $1.0M | $1.1M | +10.0% |
Summary: Palm City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
Indiantown | $575K | $710K | +23.5% |
Stuart | $339.3K | $413.9K | +22.0% |
Palm City | $580.8K | $670.3K | +15.4% |
Port Salerno-Hobe Sound | $445.5K | $492.5K | +10.5% |
Port Saint Lucie | $388.6K | $395K | +1.6% |
Housing Supply in Palm City, FL
How many homes are available in Palm City, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
199 | 209 | +5.0% |
Summary: The Palm City real estate market had 209 homes for sale in March 2024, a 5.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 38 | 41 | +7.9% |
3 Bedrooms | 78 | 91 | +16.7% |
4 Bedrooms | 58 | 52 | -10.3% |
5+ Bedrooms | 25 | 25 | 0.0% |
Summary: The Palm City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 31 | -24.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Palm City in March 2024, down by 24.4% month-over-month. Of the 31 sold homes, 77% were sold under asking, 16% were sold at asking, and 6% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
66 Days | 57 Days | -14.1% |
Summary: Homes in Palm City had an average of 57 days on market in Mar 2024, down by 14.1% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During March 2024, 31 homes were sold in Palm City; 55% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.