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Featured local agent — Palmetto Bay, FL
Sarah Mitchell
Compass Real Estate · Palmetto Bay, FL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Palmetto Bay, FL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$1.11Mmedian sale price
How is the Palmetto Bay, FL housing market right now?
The median home sale price in Palmetto Bay, FL is $1.11M, down 6.5% year-over-year. Homes sell in an average of 89 days with 131 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Palmetto Bay a buyer's or seller's market?
Palmetto Bay, FL is currently a buyer's market, based on 4.7 months of supply and homes selling in about 89 days. How we determine this →
Homes sold
28
Last 12 weeks
Days on market
89
Average pace
Active listings
131
4.7 months supply
Sale-to-list
93.5%
Below asking
What does the Palmetto Bay housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $1.11M |
| Median list price | $1.20M |
| Year-over-year price change | -6.5% |
| Average days on market | 89 days |
| Active inventory | 131 listings |
| Months of supply | 4.7 months |
| Sale-to-list price ratio | 93.5% |
| Median price per sq ft | $504/sq ft |
| Homes sold (latest month) | 28 |
| New listings (latest month) | 23 |
| Listings with a price cut | 22.9% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Palmetto Bay by property type?
How the Palmetto Bay, FL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $1.18M | $511/sq ft | 25 | 86 days |
| Townhouse | $320,000 | $288/sq ft | 2 | 120 days |
Source: Redfin · Updated monthly
The Palmetto Bay housing market is currently classified as a buyer's market with a median sale price of $1.11M. Prices have fallen 6.5% compared to last year, with homes spending an average of 89 days on market, indicating 4.7 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.
Market trends
Homes for sale in Palmetto Bay
There are currently 131 homes listed for sale in Palmetto Bay, Florida. The median listing price is $1.2M.
Active listings
131
Homes on market
Median list price
$1.2M
Avg. days on market
89
Days until sale
New this week
23
Newly listed
Who lives in Palmetto Bay?
Population
24,247
Median income
$143,368/yr
Median age
41.6 years
Owner-occupied
79.0%
College grads
61.5%
Avg commute
36.4 min
Source: U.S. Census Bureau ACS
What is it like to live in Palmetto Bay?
Palmetto Bay is a community of approximately 24K residents with a median age of 41.6 years.The median household income is $143,368, which reflects a relatively affluent area with strong earning potential. 61.5% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 79.0%, reflecting strong community stability and long-term resident commitment. The average commute time is 36.4 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Palmetto Bay offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Palmetto Bay?
3 schools tracked · 2,330 students
The largest public schools serving Palmetto Bay, FL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
SOUTHWOOD MIDDLE SCHOOL
Grades 6-8 · 1,084 students
CORAL REEF ELEMENTARY SCHOOL
Grades PK-5 · 711 students
DR. HENRY E. PERRINE ACADEMY OF THE ARTS
Grades K-5 · 535 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Palmetto Bay, FL?
Want a head-to-head view? Compare Palmetto Bay side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Palmetto Bay?
The median home sale price in Palmetto Bay is $1.11M, down 6.5% from last year.
How long do homes stay on market in Palmetto Bay?
Homes typically spend 89 days on market before going under contract.
What is the median income in Palmetto Bay?
The median household income is $143,368 per year.
Is Palmetto Bay a buyer's or seller's market?
With 4.7 months of supply, Palmetto Bay is currently a buyer's market.
How much does a single-family home cost in Palmetto Bay?
The median single-family home price in Palmetto Bay, FL is $1.18M (about $511 per square foot).
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