Photo: GreenGroupMiami · CC BY 3.0323 homes sold in Palmetto Bay in the last year, at a typical $1.1M
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Palmetto Bay homes are listed.
Every place Palmetto Bay homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Palmetto Bay.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
5% of Palmetto Bay’s sales are condos, at $912K less than a house
276 houses and 14 condos sold in the year to May 2026. Houses sell faster.
typical sale · 276 sold in the year to May 2026
- Per square foot
- $489FL $245
- Days to sell
- 97
- Sold over asking
- 4%
- Listings with a price cut
- 23%
typical sale · 14 sold in the year to May 2026
- Per square foot
- $304FL $262
- Days to sell
- 155
- Sold over asking
- 0%
- Listings with a price cut
- 20%
Townhouses: 11 sold, typical $1.2M
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 2.2 times the 2016 price
323 sales in the last year, against 461 in 2021 and a low of 296 in 2025. The typical sale went from $518K in 2016 to $1.1M.
Source: Redfin Data Center, MLS sales; from June 2026 each month is a 3-month rolling window, its counts divided by 3. Typical price and $/sq ft are the monthly medians, weighted by sales. Redfin stopped publishing towns’ figures by property type after May 2026, so houses and condos are shown for the year to then.
What $1.2M buys in Palmetto Bay
Check a listing against what Palmetto Bay homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Palmetto Bay are back to pre-pandemic levels, but 18% fewer homes come up for sale
We read every month of Palmetto Bay’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to September 2026, 323 sales.
If you’re buying in Palmetto Bay
- Shop in January. It brings about 39 new listings a month, close to the busiest month, with fewer bidding wars (11% over asking).
- Offer under asking. Buyers paid 94.4% of the list price on average; 4% paid over.
- You’ll usually have time. Only 17% of homes go under contract within two weeks; the typical one takes 99 days.
Spring brings both the most homes and the most bidding wars
May has the most new listings (about 49 a month), but April is the most competitive: 19% of April sales close over asking. January and February offer nearly as much choice with fewer homes bid up (11%). December has the least competition (10%) but only about 23 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than Florida
| Palmetto Bay now | 2017–19 | 2021 peak | FL now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 4% | 6% | 31% | 9% |
| Gone within two weeksShare of homes under contract within 14 days | 17% | 13% | 41% | 21% |
| Price paid vs. askingAverage sale price ÷ list price | 94.4% | 95.6% | 98.4% | 96.4% |
| Days to sellMedian days from listing to contract | 99 | 85 | 48 | 75 |
138 homes for sale on a typical day
That’s 1.7 times the 2021 low (80) and 18% fewer than in 2017–19.
Since 2019, houses are up 94%, condos 44%
A house typically sold for $1.1M in the year to May 2026 (276 sales), a condo for $205K (14).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Palmetto Bay ranks 444th of 542 busy Florida markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Palmetto Bay is one of the state’s calmer markets.
Source: Redfin Data Center, city figures, January 2012 to September 2026 (MLS sales, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Palmetto Bay home costs about $6,707 a month
Price: Palmetto Bay’s typical sale, last 12 months. Property tax at Palmetto Bay’s 0.8% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Palmetto Bay is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 23.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $1.1M home, about $8,800 a year.
Taxes vs. neighborsSchools
The schools grade for Palmetto Bay, from test results, graduation and how much students grow.
Schools in Palmetto BayTypical commute
The average one-way trip to work for people who live in Palmetto Bay.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Palmetto Estates, West Perrine, Cutler Bay, Richmond Heights and Kendall sell for less a square foot; Pinecrest for far more
The busier markets within 25 miles of Palmetto Bay, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Kendall | 755 | $553K | $371 | 6% | 69 |
| Cutler Bay | 499 | $591K | $325 | 14% | 76 |
| Palmetto Bay | 323 | $1.1M | $487 | 4% | 99 |
| Pinecrest | 244 | $2.4M | $728 | 4% | 93 |
| Richmond Heights | 114 | $501K | $382 | 14% | 57 |
| Palmetto Estates | 102 | $578K | $377 | 10% | 67 |
| West Perrine | 96 | $508K | $336 | 14% | 101 |
Redfin Data Center, October 2025 to September 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Palmetto Bay, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Palmetto Bay. People who follow the town see it, and so do people comparing Palmetto Bay with their own town. No commission, no listing fee.
Questions about buying a home in Palmetto Bay
What do homes sell for in Palmetto Bay, FL?
323 homes sold in the year to September 2026 at a typical $1.1M, $487 a square foot. Houses sold for about $1.1M, condos for about $205K in the year to May 2026.
Is Palmetto Bay a buyer’s or seller’s market?
A seller’s market: 103 homes were for sale in September 2026 and 27 sold, about 3.7 months of supply. Buyers paid 94.4% of asking on average.
When is the best time to buy in Palmetto Bay?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Palmetto Bay?
About 0.8% of a home’s value a year. On a $1.1M home that’s near $8,800.
Where can I see homes for sale in Palmetto Bay?
Zillow, Redfin, Realtor.com and Homes.com all carry Palmetto Bay’s MLS listings; the search links above open each one filtered to Palmetto Bay.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).