Southwood
Homes for Sale in Palmetto Bay, FL

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.

MIAMI REALTORS sales records identify 208 homes in SOUTHWOOD that have changed hands since 2006, built between 1957 and 2019 (median 1965), with a median living area of about 2,330 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.

Pre-construction details are compiled from public records, builder announcements and builder listings, and are subject to change without notice; figures are deemed reliable but not guaranteed. Momentum Research figures are our own analysis. This page describes homes, pricing and community attributes, not residents.

Southwood is too small for its own price trend, so here is the market around it.

In ZIP 33157, 237 homes are on the market and 17% are under contract — a slower corner of Palmetto Bay.

Across Miami-Dade County, 14,507 homes are active and 2,241 pending (13% under contract).

In ZIP 33157 (Palmetto Bay), 121 homes closed in the last 12 months at a median of $656K ($386/sq ft), with a median 47 days on market. Right now 114 active and 31 pending listings put supply at about 11.3 months — a buyer's market. See the live ZIP 33157 housing market and the Miami-Dade County market.

ZIP and county figures describe the wider market, not Southwood specifically. Momentum Research analysis of MLS records.

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.