FLORIDA LUXReal Estate

Palmetto Bay, FL Real Estate Guide

South of Pinecrest along the bay, Palmetto Bay is a family village of larger lots, A-rated schools and the waterfront parks carved from the old Cutler estates. It offers much of what its northern neighbor does at more approachable pricing.

Palmetto Bay Market Snapshot

Every figure below is computed from closed MLS transactions in Palmetto Bay over the trailing twelve months — what buyers and tenants actually paid, not asking prices — and refreshes continuously.

311
Homes sold, last 12 months
$1.1M
Median sale price
$489
Median price per sqft
51 days
Median time on market
211
Leases signed, last 12 months
$4,500/mo
Median rent achieved
$3
Median rent per sqft
42 days
Median time to lease
Homes Sold per Month
29Sep26Oct18Nov28Dec20Jan25Feb25Mar26Apr30May46Jun25Jul13Aug
Median Sale Price per Month
$1.6M$890KSepOctNovDecJanFebMarAprMayJunJulAug
Median Sale Price by Bedrooms
BedroomsSalesMedian price
1 bd10$180,000
2 bd12$335,000
3 bd80$847,500
4 bd145$1,190,000
5+ bd64$1,737,500
Sales by Property Type
TypeSalesMedian price
Single Family Residence287$1,160,000
Condominium16$192,500
Townhouse8$643,000
12-Month Sales Trend
MonthHomes soldMedian price
Sep 202529$1,160,000
Oct 202526$1,150,000
Nov 202518$1,150,000
Dec 202528$977,500
Jan 202620$1,192,500
Feb 202625$1,050,000
Mar 202625$890,000
Apr 202626$1,282,500
May 202630$1,075,000
Jun 202646$1,347,500
Jul 202625$1,075,000
Aug 202613$1,595,000
Median Rent by Bedrooms
BedroomsLeasesMedian rent
1 bd25$1,750/mo
2 bd47$2,200/mo
3 bd52$4,350/mo
4 bd64$6,500/mo
5+ bd23$9,000/mo

Living in Palmetto Bay

Palmetto Bay is south Dade's village of parks — twenty-four thousand residents between Old Cutler Road and Biscayne Bay who incorporated in 2002 largely to hold their corner of the county exactly as it was: single-family, tree-vaulted, school-obsessed and built around an almost implausible density of green space. The Deering Estate anchors the bayfront, Coral Reef Park anchors family life, and the village's civic energy goes into fields, trails and the kind of code enforcement that keeps the swales mowed.

The draw is the south-Dade schools triangle at gentler prices than Pinecrest next door: the Coral Reef Elementary and Southwood magnet pipeline plus two of the county's leading private schools inside village limits. Palmetto Bay families trade away nightlife and condos — there are essentially neither — for bayside canopy living where the biggest weekend call is Deering's trails versus the sailing club.

Palmetto Bay Neighborhoods & Housing Stock

East of Old Cutler sits the premium band: the estate streets running toward the mangrove preserve — a few with bay access along the village's limited canal reach — and the gated pockets off the Deering corridor where new construction supplants 1960s ranches one lot at a time. The middle of the village between Old Cutler and US-1 holds the classic stock: generous quarter-acre-plus lots, low-slung ranches and two-stories, renovated in waves as families move up within the village.

West of US-1, the sections toward the Franjo triangle hold the entry tier and the village's small townhome supply, plus the emerging downtown-village district where the only mixed-use construction is allowed. Pricing runs on the usual south-Dade inputs — lot size, school zone and hurricane-era construction vintage — with the bay-east premium doing the heavy lifting.

Location & Getting Around

Palmetto Bay runs along the Old Cutler-US-1 corridor a half hour south of Brickell — closer when the South Dade Transitway's buses use their dedicated lanes. Dadeland and Baptist Hospital's medical campus are fifteen minutes north, the Falls nearer still, and the weekend geography is enviable: Black Point's marina five minutes south, Matheson and Fairchild fifteen north, the Keys an hour down US-1. The village itself stays deliberately quiet — through-traffic is engineered out.

Buying a Home in Palmetto Bay

A smart Palmetto Bay purchase begins with knowing what moves its market: bayside family living with parks and strong schools. Use the bedroom and property-type tables above to benchmark the segment you're shopping, then open the live map search to see what's on the market right now — every listing links through to full photos, details and a direct line to a licensed Florida broker.

In Florida, a financed purchase generally closes in 30 to 45 days, while an all-cash deal can wrap in as little as two weeks. A condo adds a board-approval step, and anything near the water carries insurance questions worth pricing before you write an offer — both are routine parts of a Palmetto Bay transaction when you plan for them early.

Renting in Palmetto Bay

Rentals turn over faster than sales — a well-priced Palmetto Bay unit is often under lease within weeks, and most annual leases ask for first month, last month and a security deposit up front. The rent tables above show what tenants actually committed to by bedroom count over the past year, and the live rental search lists every home and condo on offer today.

Featured Listings in Palmetto Bay

See every home for sale →

Things to Do & Places to See in Palmetto Bay

Deering Estate

Charles Deering's 1920s bayfront estate and preserve, with house tours, archaeology, kayak launches and concerts on the bay.

Coral Reef Park

The village's flagship park of fields, trails and the Saturday soccer universe.

Thalatta Estate Park

The restored bayfront villa and lawn, the village's wedding and sunset spot.

Ludovici Park & the paw parks

The neighborhood green web behind the parks-village nickname.

The Old Cutler canopy ride

The banyan tunnel linking the village to Matheson and Fairchild.

Black Point Marina (adjacent)

The county marina at the village's southern door, the gateway to south Biscayne Bay.

Dining in Palmetto Bay

The Franjo village district

The emerging café-and-bistro pocket in the village's downtown triangle.

The US-1 corridor standbys

Family Italian, Latin grills and breakfast counters strung along the highway edge.

Black Point Ocean Grill (adjacent)

Dockside seafood at the marina, the boaters' Sunday.

Pinecrest's dining row (adjacent)

Captain's Tavern, Anacapri and the rest, ten minutes north.

The Deering evening events

Estate dinners and food-truck nights out on the bay lawn.

Schools in Palmetto Bay

Coral Reef Elementary
Public

The A-rated elementary at the heart of village demand.

Southwood Middle School
Public

The arts-magnet middle school that pulls from across the county.

Miami Palmetto Senior High (adjacent)
Public

The flagship high school pipeline that most of the village feeds.

Palmer Trinity School
Private

The Episcopal 6-12 independent set on its village campus.

Westminster Christian School
Private

The PK-12 Christian school within the village.

Attendance boundaries shift over time — always confirm the assigned schools for a specific address with the county school district, and verify private-school admissions directly, before you rely on either in a purchase decision.

Palmetto Bay Real Estate FAQ

Is Palmetto Bay a good place to buy a home?

Palmetto Bay is known for bayside family living with parks and strong schools, and that character is what sustains demand over time. Let the figures on this page do the arguing — real closed sales, the median sale price, and how long homes sat before selling over the trailing twelve months.

What is the median home price in Palmetto Bay?

The snapshot above reports the current 12-month median sale price for Palmetto Bay, together with price per square foot and medians split out by bedroom count and property type. Every figure is calculated from closed MLS sales and refreshed continuously — not lifted from a report that's already months old.

Condo or house in Palmetto Bay — which should I buy?

The property-type table above breaks Palmetto Bay sales into condos, single-family homes and townhomes, and shows where each segment's median landed over the past year. A condo brings monthly association dues and a board-approval step; a house carries its own insurance and upkeep. Each property type has its own live search page linked below.

Where can I see every home for sale in Palmetto Bay?

Open the Palmetto Bay map search — it shows every active MLS listing in the city, updated continuously, with the city boundary traced on the map and filters for property type, bedrooms and price.

Discover Your Perfect Home

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Palmetto Bay Condos for Sale by Type & Price
Bedroom Size Homes in Palmetto Bay
Homes by Price in Palmetto Bay
Lifestyle & New in Palmetto Bay
Rentals in Palmetto Bay
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