$7,541 Closing Credit*
$635,000
2,224 SqFt
3 Beds
•3 Full Baths
Michele Hautrive, Listing Office: Reaction Realty Group, Inc.
Is Palm City, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Palm City was a Neutral 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
$691,000
$291/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$56,000(+8.8%)
Key Takeaway
Homes in Palm City have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Palm City was $691,000 in November 2024, up 8.8% from last year, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $158K | -14.6% |
| 2 Bedrooms | $365K | $305K | -16.4% |
| 3 Bedrooms | $600K | $577K | -3.8% |
| 4 Bedrooms | $915K | $975K | +6.6% |
| 5+ Bedrooms | $1.0M | $1.2M | +10.5% |
Summary: Palm City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.6%, 2 bedroom homes decreased by 16.4%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Cities
| Palm City | $635K | $691K | +8.8% |
| Port Salerno-Hobe Sound | $474.9K | $498.8K | +5.0% |
| Port Saint Lucie | $389.9K | $404.8K | +3.8% |
| Indiantown | $700K | $725K | +3.6% |
| Stuart | $402.3K | $413K | +2.7% |
Housing Supply in Palm City, FL
How many homes are available in Palm City, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 234 | 239 | +2.1% |
Summary: The Palm City real estate market had 239 homes for sale in November 2024, a 2.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 53 | 63 | +18.9% |
| 3 Bedrooms | 99 | 101 | +2.0% |
| 4 Bedrooms | 51 | 46 | -9.8% |
| 5+ Bedrooms | 31 | 29 | -6.5% |
Summary: The Palm City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.9%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes decreased by 6.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 19 | -34.5% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
1 Home Was 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. 89.5% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Palm City in November 2024, down by 34.5% month-over-month. Of the 19 sold homes, 89% were sold under asking, 5% were sold at asking, and 5% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 66 Days | +32.8% |
Summary: Homes in Palm City had an average of 66 days on market in Nov 2024, up by 32.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
7 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 November 2024, 19 homes were sold in Palm City; 37% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.
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