Is Palm City, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$669,750
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Palm City have sold for 15.5% more than they did a year ago.
Summary: The median home sold price in Palm City was $669,750 in April 2024, up 15.5% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $185K | +2.8% |
| 2 Bedrooms | $338.5K | $343.5K | +1.5% |
| 3 Bedrooms | $560K | $607.5K | +8.5% |
| 4 Bedrooms | $885K | $949K | +7.2% |
| 5+ Bedrooms | $955K | $1.2M | +25.7% |
Summary: Palm City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 25.7%.
Median Sold Price Compared To Nearby Cities
| Indiantown | $575K | $712.5K | +23.9% |
| Stuart | $350K | $414.3K | +18.4% |
| Palm City | $580K | $669.7K | +15.5% |
| Port Salerno-Hobe Sound | $445K | $498.4K | +12.0% |
| Port Saint Lucie | $389.3K | $396K | +1.7% |
Housing Supply in Palm City, FL
How many homes are available in Palm City, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 202 | 220 | +8.9% |
Summary: The Palm City real estate market had 220 homes for sale in April 2024, a 8.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 39 | 46 | +17.9% |
| 3 Bedrooms | 85 | 94 | +10.6% |
| 4 Bedrooms | 53 | 53 | 0.0% |
| 5+ Bedrooms | 25 | 26 | +4.0% |
Summary: The Palm City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 10.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 31 | -3.1% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palm City, you may be able to get a good deal. 83.9% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in Palm City in April 2024, down by 3.1% month-over-month. Of the 31 sold homes, 84% were sold under asking, 16% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 49 Days | 86 Days | +75.1% |
Summary: Homes in Palm City had an average of 86 days on market in Apr 2024, up by 75.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Palm City are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 31 homes were sold in Palm City; 35% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.
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