Palmetto Bay
Housing Market
Median sale price $1,042,500, up 2.3% year over year, with homes going under contract in about 50 days, 27 homes on the market.
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Housing Market Analyst
38% of listed homes are already under contract. Prices are up 2.3% versus the prior year and sellers are still collecting 92.9% of asking. Taken together, the data points to a broadly balanced market where preparation decides who wins.
Who has leverage right now
Leverage scores are derived from the Momentum Score (supply, demand, speed, pricing power, and trend). Right now the data favors neither side decisively.
- Inventory — building over the tracked window; watch whether that holds through the season.
- Negotiating power — buyers gain ground as 38% of inventory sits under contract.
- Mortgage sensitivity — at 7.6× income, this market is highly sensitive to rate moves; rate relief tends to show up in demand here quickly.
Derived from current Palmetto Bay data, not a prediction or guarantee. Markets move; talk to an agent before acting on any single reading.
One inventory number hides four different markets
Months of supply = active listings ÷ monthly sales pace, bucketing communities by their recent median. 3–6 months is the balanced band.
Where Palmetto Bay is hot — and where it isn't
Each dot is a community (33 shown, sized by sales volume rank). Click any dot to open its full neighborhood guide.
The read on Palmetto Bay
The median sale price across Palmetto Bay currently stands at $1,042,500, up 2.3% from a year ago. Buyers are paying a median of $493 per square foot. The typical home goes under contract in about 50 days. Sellers are capturing 92.9% of their original asking price on average.
There are 27 active listings on the market, with 16 more already under contract.
Palmetto Bay prices sit above the Miami-Dade County median by roughly 90%. Zillow's home value index for Miami-Dade County stands at $521,011. About 16% of listings county-wide have taken a price cut — a useful gauge of seller flexibility.
Weighing supply, demand, speed, pricing power, and trend together, the Momentum Score for Palmetto Bay is 57 of 100 — balanced market territory. This page recalculates every day as new MLS data lands, so the numbers above reflect the market as of October 5, 2026.
Palmetto Bay since 2012 — and where it’s heading
A median home here sold for $387,142 in 2012 and $1,173,149 over the last recorded year — 203% appreciation across 14 years of recorded sales.
Median sale price · 2012–2026 (1,688 recorded sales)
Days on market by year
Home value trend · Miami-Dade County (Zillow ZHVI)
For-sale inventory · county (Zillow)
Daily active vs pending · Miami-Dade County (MLS)
Median price · daily recalculation
What’s driving Palmetto Bay
Top inbound states: NY, CA, TX, NJ. Movers arriving report ~$127,200 average income. Source: IRS SOI county-to-county migration, 2022-2023
56,357 Citizens policies in force in Miami-Dade County — the state-backed insurer of last resort. Budget insurance into any Miami-Dade purchase before you fall in love with a house. Source: Citizens Property Insurance, Detail by County, April 2026
2,666 single-family · 13,869 multi-family · 6.2 per 1,000 residents. Future supply pressure starts here. Source: U.S. Census Bureau, Building Permits Survey, 2025
The calls we’re making from today’s data
The sharpest 1-yr median swing among tracked communities. Thin samples can exaggerate swings — verify with a comp analysis before treating it as trend.
Both sides have a case: buyers should negotiate on days-on-market, sellers should lean on the under-contract rate. Preparation, not the market, decides who wins a balanced tape.
Generated from today’s data by Momentum’s analysis engine and reviewed on a rolling basis by our broker team.
How it stacks up across Miami-Dade County
| Market | Median | Active | Score | |
|---|---|---|---|---|
| Palmetto Bay ← this page | $1.04M | 27 | 57 | |
| Miami | $570K | 4,211 | 36 | Open → |
| Miami Beach | $758K | 1,065 | 37 | Open → |
| Sunny Isles Beach | $475K | 831 | 24 | Open → |
| Aventura | $465K | 803 | 28 | Open → |
| Homestead | $460K | 794 | 40 | Open → |
Neighborhoods on the move
| SOUTHWOODPalmetto Bay | $1.04M | ▲ -1% |
| CORAL REEF ESTATESPalmetto Bay | $965K | ▲ -6% |
| CUTLER HAMMOCKPalmetto Bay | $1.32M | ▲ -10% |
| CUTLER HAMMOCKPalmetto Bay | $1.32M | ▼ 10% |
| CORAL REEF ESTATESPalmetto Bay | $965K | ▼ 6% |
| SOUTHWOODPalmetto Bay | $1.04M | ▼ 1% |
| SOUTHWOODPalmetto Bay | $1.04M | 3 |
| THE LANDINGSPalmetto Bay | $1.40M | 3 |
| CORAL REEF ESTATESPalmetto Bay | $965K | 2 |
| VILLAGIO AT PALMETTO BAYPalmetto Bay | $185K | 2 |
| CHARLOTTE ESTATESPalmetto Bay | $1.23M | 1 |
| CORAL REEF ESTATESPalmetto Bay | $965K | 16 days |
| MANGOWOODPalmetto Bay | $1.25M | 31 days |
| CUTLER HAMMOCKPalmetto Bay | $1.32M | 38 days |
| SOUTHWOODPalmetto Bay | $1.04M | 46 days |
Palmetto Bay ZIP codes
Most active communities
More on Palmetto Bay
Put this data to work
The questions people actually ask
Should I buy a house in Palmetto Bay right now?
The data says conditions currently favor neither side decisively in Palmetto Bay — the Momentum Score reads 57/100. For buyers that means preparation over hesitation: well-priced homes still move fast, but there is more room to negotiate than a year ago. The right timing always depends on your rate, your equity, and how long you plan to stay — not just the market.
Is Palmetto Bay becoming more affordable?
No — the median sale price in Palmetto Bay is $1,042,500, up 2.3% versus the prior year, while sellers still capture 92.9% of asking price. Rising prices mean waiting has a cost; affordability hinges mostly on your rate.
Where are prices falling fastest in Palmetto Bay?
Among tracked communities with enough sales to measure, the sharpest 1-year median declines are CUTLER HAMMOCK (-10%); CORAL REEF ESTATES (-6%); SOUTHWOOD (-1%). Note that community-level medians move on small sale counts — a few high- or low-end closings can swing them — so treat these as leads for a comp analysis, not verdicts.
Which Palmetto Bay neighborhoods are most competitive?
Measured by speed of sale, the fastest-moving tracked communities right now are CORAL REEF ESTATES (16 days); MANGOWOOD (31 days); CUTLER HAMMOCK (38 days) — homes there go under contract well ahead of the market-wide pace of 50 days.
How does Palmetto Bay compare to the rest of Miami-Dade County?
Palmetto Bay's median of $1,042,500 runs 90% above the county-wide median of $549,900, and homes here take 50 days to go under contract versus 68 county-wide.
Palmetto Bay housing market FAQ
How is the housing market in Palmetto Bay right now?
As of October 5, 2026, the Palmetto Bay housing market is roughly balanced: the median sale price is $1,042,500 (up 2.3% year over year), 27 homes are for sale, and the typical home goes under contract in about 50 days.
How much is a house in Palmetto Bay?
The median home sold for $1,042,500 in Palmetto Bay over the last 12 months, about $493 per square foot; asking prices on the 27 current listings run from well below to well above that, and the community pages linked below show what each neighborhood actually sells for.
Is it a good time to sell a house in Palmetto Bay?
By the numbers, sellers in Palmetto Bay are getting 92.9% of asking price and going under contract in about 50 days. Whether it is a good time for you depends on what you paid and where you are going next, which is a conversation with an agent, not a chart.
What is the Palmetto Bay housing market forecast?
Momentum Realty publishes the recorded trend, not a prediction: Palmetto Bay median sale prices are up 2.3% year over year, and 38% of listings are under contract. The charts on this page update with every MLS refresh, so the direction shows up here before any forecast catches it.
What is the median home price in Palmetto Bay?
The median sale price in Palmetto Bay is currently $1,042,500, up 2.3% from a year ago, based on MLS sales data updated October 5, 2026.
Is Palmetto Bay a buyer's or seller's market right now?
The data currently is roughly balanced. Palmetto Bay scores 57 of 100 on the Momentum Score. Conditions change; this page updates daily.
How long do homes take to sell in Palmetto Bay?
The typical home in Palmetto Bay goes under contract in about 50 days, per current MLS data.
How many homes are for sale in Palmetto Bay?
There are approximately 27 active listings in Palmetto Bay as of October 5, 2026.
Are home prices in Palmetto Bay rising or falling?
Median sale prices are up 2.3% year over year based on a rolling comparison of MLS sales.
Momentum agents use this intelligence every day to price listings and write winning offers across Palmetto Bay. Talk through what the numbers mean for your move.
Every number on this page is computed directly from licensed Florida MLS feeds, recorded public sales, Zillow Research, and U.S. Census data — nothing is manually adjusted or estimated by hand. Medians use recorded closed sales; supply figures use live listing counts refreshed twice daily; the Momentum Score methodology is summarized .
Analyst oversight: Jon Brooks — Co-Founder, Momentum Realty · CEO, Momentum Research · Housing Market Analyst · methodology reviewed quarterly · Last data refresh: October 5, 2026 at 1:44 PM ET
Statistics on this page are computed automatically from licensed MLS feeds and public data sources (Zillow Research, U.S. Census Bureau) and summarized without manual review. Figures are estimates based on recent recorded activity, are deemed reliable but not guaranteed, and should be verified with a licensed agent before making decisions. This page does not constitute an appraisal or an automated valuation of any specific property. Momentum Realty is licensed in Florida and Georgia. Equal Housing Opportunity.