32187
Palatka, Florida
Palatka 32187 is stable.
The 32187 ZIP code in Palatka, Florida has a median sale price of $370K, down -40.8% year-over-year. Homes spend an average of 56 days on market, with 33% of homes selling above list price.
Folio's PropIQ™ score of 65 signals Caution conditions. This market is holding steady. Monitor inventory shifts before committing.
The Palatka 32187 market shows significant price contraction with the median sale price reaching $370,000, down 40.8% year-over-year as of February 2026. Homes are moving at a moderate pace with an average 56 days on market, while 33% of properties still command above-asking offers, indicating selective buyer competition for premium listings. This sharp price decline represents one of the steeper corrections in the Florida market, signaling a fundamental reset from previous valuation levels.
This environment favors cash buyers and value-focused investors capable of underwriting properties at current pricing rather than 2025 comparables. Sellers with equity cushions from pre-2024 purchases can still exit profitably, but recent buyers face negative equity exposure. The 33% above-list ratio suggests well-priced homes under $370,000 generate multiple offers, while overpriced inventory likely accounts for extended market times beyond the 56-day average.
The PropIQ score of 65 signals caution as price discovery continues through this correction cycle. With prices down over 40% annually, momentum indicators suggest stabilization has not yet occurred, and further downward pressure remains possible if inventory increases or buyer demand weakens. Monitoring the percentage of homes selling above list and days-on-market trends through Q2 2026 will indicate whether this ZIP has found its pricing floor or requires additional downward adjustment.
What is the median home price in 32187 Palatka?
The median sale price in 32187 is $370K, down -40.8% year-over-year as of 2026-02-28.
How long do homes stay on the market in Palatka 32187?
Homes in 32187 Palatka spend an average of 56 days on market before going under contract.
Is Palatka 32187 a good place to invest in real estate?
Folio's PropIQ™ score for 32187 is 65/100 — a Caution signal. 33% of homes sold above asking.
What does a PropIQ™ score of 65 mean for 32187?
PropIQ™ is Folio's proprietary market score combining price momentum, days-on-market velocity, inventory absorption, and investment signals into a 0–100 number. Score of 65 = Caution in 32187 Palatka, Florida.