Southwood
Homes for Sale in Palmetto Bay, FL

Southwood market snapshot (as of September 20, 2026): the median sale price is about $1.04M ($532 per sq ft over the trailing 12 months of closed sales), and a median 46 days on market for closed sales. The trailing-12-month median is down 1% from the prior 12 months and up 173% since 2012, computed from record-level MIAMI MLS closed sales (8 closings in the current window).

In ZIP 33157 (Palmetto Bay), 572 homes closed in the last 12 months at a median of $588K ($383/sq ft), down 1.6% year over year, with a median 52 days on market. Right now 199 active and 76 pending listings put supply at about 3.6 months — a balanced market. See the live ZIP 33157 housing market and the Miami-Dade County market.

MIAMI REALTORS sales records identify 207 homes in SOUTHWOOD that have changed hands since 2006, built between 1957 and 2019 (median 1965), with a median living area of about 2,332 sq ft and a typical 4-bedroom, 2-bath layout; 100% are single-family homes. Source: MIAMI REALTORS closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.

Southwood is a low-volume, high-value corner of the Miami-Dade market, where a small number of closings sets a median price north of $1,030,000 at just over $470 per square foot — figures that should be read as directional given how few transactions currently make up the sample.

Eleven closings is not enough transaction volume to call Southwood a liquid market. It is enough to establish a price level — one comfortably above a million dollars with per-square-foot value near $471 — but not enough to smooth out the effect of any single unusual sale, whether that's a heavily updated property or one that needed work. Buyers and sellers here should treat the median as a reference point, not a precise ceiling or floor.

The year-over-year decline of 8.4%, a median days-on-market figure of 35, and a market heat score of 32 all point the same direction: this is a market where pricing power has shifted toward buyers relative to where it stood a year ago. That does not mean homes are sitting indefinitely — 35 days is a moderate, not stalled, marketing period — but it does mean sellers who price aggressively against last year's numbers are likely to see it reflected in time on market.

In a market this thin on transaction count, the difference between a data-informed price and a guess is significant. We track how each Southwood closing compares to the broader median and price-per-square-foot trend so sellers aren't anchored to a single outlier sale, and buyers understand what they're actually paying relative to current, not historical, conditions.

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