Palmetto Bay Housing Market Report March 2025•Miami-Dade County, Florida

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Housing Prices in Palmetto Bay, FL

How much do homes in Palmetto Bay, FL cost?

Housing Market Conditions

Is Palmetto Bay, FL a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Palmetto Bay is a Buyer's Market

Difference Since March 2024

At the same time last year, Palmetto Bay was a Seller's Market.

Insight

Palmetto Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$1,000,000$439/SqFt
-$70,000
-6.5%

Based on all homes sold in the last 12 months

Insight

Homes in Palmetto Bay have sold for 6.5% less than they did a year ago.

Summary: The median home sold price in Palmetto Bay was $1,000,000 in March 2025, down 6.5% from last year, and the median price per square foot was $439.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Coral Gables
+25.8%
Pinecrest
+9.1%
Princeton-Goulds
+6.1%
Kendall-Palmetto Bay
-1.3%
Palmetto Bay
-6.5%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1$190K$189K
-0.5%
2$280K$281.5K
0.5%
3$855K$760K
-11.1%
4$1.0M$1.1M
+1.6%
5$1.5M$1.3M
-16.3%

Summary: Palmetto Bay housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -0.5%. The home price for 2 bedroom homes increased by 0.5%. The home price for 3 bedroom homes decreased by -11.1%. The home price for 4 bedroom homes increased by +1.6%. The home price for 5 bedroom homes decreased by -16.3%.

How does Palmetto Bay, FL compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Palmetto Bay, FL

Housing supply in Palmetto Bay, FL

How many homes are available in Palmetto Bay, FL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
189Last MonthMar 2025
1662 months agoFeb 2025
+13.9 %
Change MoMFeb – Mar

Summary: The Palmetto Bay real estate market had 189 homes for sale in Mar 2025, a 13.9 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
20Last MonthMar 2025
242 months agoFeb 2025
-16.7 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
167
+16.7%
2139
-30.8%
33339
+18.2%
46984
+21.7%
54550
+11.1%

Summary: Palmetto Bay housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +16.7%. The inventory for 2 bedroom homes decreased by -30.8%. The inventory for 3 bedroom homes increased by +18.2%. The inventory for 4 bedroom homes increased by +21.7%. The inventory for 5 bedroom homes increased by +11.1%.

Asking Price vs. Sold Price

How much do homes in Palmetto Bay, FL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price4 Homes

Under Asking Price14 Homes

Insight

If you're buying a home in Palmetto Bay, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Palmetto Bay in March 2025, down by 16.7% month-over-month. Of the 20 sold homes, 70% were sold under asking, 20% were sold at asking, and and 10% were sold over asking.

Days on Market for Palmetto Bay, FL

How long does it take to sell a home in Palmetto Bay, FL?

Breakdown of Home Sale Times

Under 30 Days5 Homes

30 – 90 Days9 Homes

Over 90 Days6 Homes

Insight

Avg time on Rocket Homes in Palmetto Bay has remained consistent over time.

Summary: During March 2025, 20 homes were sold in Palmetto Bay; 25% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
79 DaysThis YearMar 2025
76 Days1 year agoMar 2024
+4.1 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Palmetto Bay had an average listing age of 79 days in Mar 2025, up by 4.1% compared to the previous year.

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Newest Listings in Palmetto Bay, FL

What homes are available in Palmetto Bay, FL?

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Nearby markets

Popular Cities with Homes for Sale in Florida

MLS Disclaimers and Copyright

Based on information from Miami MLS, Beaches MLS, and Stellar MLS for the period 04/01/2023 - 04/01/2025

IDX © 2025 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/24/2025, 7:20:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXAll listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2025 BeachesMLS, Inc.

This information is not verified for authenticity or accuracy and is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/24/2025, 7:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of Stellar MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

IDX Copyright 2025 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/24/2025, 7:19:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.