Lakes by the Bay Jay
Homes for Sale in Cutler Bay, FL

Lakes by the Bay Jay market snapshot (as of September 12, 2026): the median sale price is about $402K ($244 per sq ft over the trailing 12 months of closed sales), and a median 58 days on market for closed sales. The trailing-12-month median is down 10% from the prior 12 months, computed from record-level MIAMI MLS closed sales (11 closings in the current window).

This is a smaller-volume market where price per square foot ($250.33) gives a more stable read than the median alone, given how few closings are informing the numbers.

The year-over-year decline of 9.7% is the headline number here, and it is not a rounding error — it reflects a genuine shift in what buyers are willing to pay. Paired with a median 58 days on market, this is not a community where homes are moving quickly at asking price. Sellers testing the top of the range are the ones most likely to see extended time on market.

With only 11 closings feeding the current snapshot, no single sale should be read as gospel for what a specific home is worth. The price-per-square-foot figure of $250.33 is the more durable data point for underwriting an offer or a listing price, since it normalizes for size differences across a thin sample. No community amenities are listed in current MLS data, so value here is being driven by the homes themselves — condition, layout, lot — rather than shared features.

In a low-volume, declining market, the comps get harder to read, not easier — a handful of sales can swing the median in either direction. We pull the underlying sales, not just the headline number, so an offer or a list price is built on what is actually closing, not a stale year-over-year average.

Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.