Homes for sale inPalmetto Bay, Florida
Suburban space and bay breezes south of Miami
116
Homes for sale
$1,437,000
Median list price
$539
Avg price / sqft
67
Median days on market
Palmetto Bay sits along Biscayne Bay in southern Miami-Dade County, a quiet, tree-canopied village where lots run large and the pace drops the moment you turn off US-1. It's a place built for families who want yard space, boat access and good public schools without leaving metro Miami — and the mix leans heavily toward detached houses, with a handful of waterfront homes tucked onto canals and the bay. The character is residential and green rather than flashy, which is exactly why it holds its value.
The market today is firmly in luxury territory: of 116 active listings, 84 are priced at $1M or more, and the median list price is $1,437,000. Homes take their time here — a median of 66.5 days on market — and over the last year 292 sales closed at a median of $1,122,500, with sellers netting about 95% of asking. If seven figures is a stretch, keep an eye on the just reduced listings and the smaller townhomes & condos that round out the inventory.
Palmetto Bay is in Miami-Dade County, Florida.
Quick facts
$174,900 – $9.5M price range
2,492 sqft median home
$3,300/mo median rent
Living in Palmetto Bay
Palmetto Bay is a village of about residential calm on the southern edge of metro Miami, running from US-1 east toward Biscayne Bay. It incorporated relatively recently as its own municipality, and the defining feature is space — large lots, mature tree canopy and a low-rise, family-first layout that feels a world away from downtown Miami's density. The pace is quiet and suburban, built around schools, parks and backyards rather than nightlife.
This is a place that suits families, boaters and buyers who want room to spread out while keeping Miami's beaches, airport and job centers within reach. The housing is overwhelmingly detached: 97 of 116 active listings are single-family homes, with only a thin layer of condos, townhomes and villas. That mix reinforces the owner-occupied, settle-in character of the village.
Because so much of Palmetto Bay is already built out, change here tends to come house by house — older homes updated or replaced rather than large new tracts appearing. For a buyer, that means established neighborhoods with real trees and real yards, and a market where location and lot often matter as much as the house itself.
Neighborhoods and communities in Palmetto Bay
Palmetto Bay is organized into a patchwork of named subdivisions and smaller communities rather than a single town center. Notable pockets include Bel Aire, Mangowood, Cutler Hammock and Garden Groves — established single-family enclaves that make up the heart of the village. These areas trade on lot size, school zone and proximity to the bay more than on amenities.
Water access shapes the east side. Royal Harbour Yacht Club and the canal-fed streets closer to Biscayne Bay are where you'll find most of the waterfront homes and boat-friendly lots, which is why the 13 active waterfront listings command a premium. If direct water is the goal, it's worth narrowing your search to those specific streets early.
For buyers who want lower-maintenance living or a smaller price tag, the condo and townhome communities — such as Heritage Square and Village Homes & Condos — offer an entry point. These townhomes & condos make up a small share of inventory (11 condos and 7 townhouses active), so options come and go quickly and warrant a saved search.
Homes for sale in Palmetto Bay: prices and housing
The numbers tell a clear story: Palmetto Bay is a luxury-leaning market. The median list price across 116 active homes is $1,437,000, average pricing runs about $539 per square foot, and the typical home is around 2,492 square feet. Fully 84 of those active listings are priced at $1M or more, so luxury homes ($1m+) are the norm rather than the exception.
Actual sales run a bit below the asking-side median. Over the last 12 months, 292 homes closed at a median sold price of $1,122,500, and sellers received roughly 95% of their asking price. With a median 66.5 days on market, this isn't a bidding-war environment — well-priced homes move, but buyers have room to negotiate and shouldn't feel rushed. The full active range stretches from $174,900 to $9,495,000.
The housing mix is heavily single-family (97 listings), with 11 condos, 7 townhomes and a single villa rounding things out. New construction is scarce — just 5 active listings — reflecting a built-out village. Most of the area is detached ownership without significant HOA structures, so there's no meaningful median HOA figure; property taxes are the larger ongoing cost, with a median around $9,047 per year that scales with the high home values. Browse smaller segments like homes with a pool or filter by price to find the entry points.
Schools in Palmetto Bay
Schools are one of the biggest reasons families target Palmetto Bay. The most commonly assigned schools in the area include Coral Reef, Perrine and Howard Drive at the elementary level, along with Southwood and South Dade Middle, and Palmetto for high school. These names come up repeatedly in local searches and are a genuine draw for buyers with children.
Miami-Dade County Public Schools uses attendance boundaries that can change from street to street, so the school tied to one listing may differ from a home a few blocks away. Never assume a zone based on the neighborhood name alone.
Before making an offer, confirm the exact attendance zone for the specific address through the district's official boundary tool, and verify current ratings and any magnet or choice options directly. If a particular school is central to your decision, build your home search around that boundary from the start.
Getting around Palmetto Bay
Palmetto Bay's main artery is US-1 (South Dixie Highway), which runs along the village's western edge and is the primary route toward central Miami to the north and the Florida Keys to the south. Most trips in and out of the area begin by getting to US-1 and heading one direction or the other.
Specific drive times aren't captured in the current data, so plan to test your own commute at the times you'd actually travel — South Florida traffic on US-1 and the surrounding corridors varies widely by hour. The adjacent busway running along US-1 is a common knowledge option for public transit riders heading toward Miami.
Within the village, this is a car-dependent, suburban layout — expect to drive to schools, shopping and the waterfront. For boaters, the appeal is less about roads and more about bay access, which is why the canal-front and Biscayne Bay streets carry their premium.
Is Palmetto Bay a good place to live?
For the right buyer, Palmetto Bay is one of the stronger choices in southern Miami-Dade. You get large lots, mature greenery, sought-after school zones and bay access, all in an established, quiet village that still sits within reach of Miami's beaches, airport and employment. The predominance of single-family homes — 97 of 116 active listings — reinforces a stable, owner-occupied feel.
The honest trade-off is cost. With a median list price of $1,437,000 and 84 active listings above $1M, this is a luxury market, and entry points below that are limited to a handful of condos and townhomes. Property taxes around $9,047 a year add to the carrying cost, and homes take a median 66.5 days to sell, so neither buyers nor sellers should expect instant results.
If your budget fits and you value space, schools and a calmer pace over walkable urban energy, Palmetto Bay rewards patience. Watch the just reduced listings, track open houses this week, and lean on the roughly 95%-of-asking sale ratio as evidence that there's genuine room to negotiate on the right home.
Fresh on the market
Newest homes in Palmetto Bay
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Property features
The numbers that matter
The Palmetto Bay market
292
Sold, last 12 months
$1,122,500
Median sold price
95%
Sale-to-list ratio
What sellers actually get vs asking
55 days
Median time to sell
Palmetto Bay vs Miami-Dade County
Median list price
Price per sqft
Days on market
Homes on the market
Homes sold per month
Live Stellar MLS data — listings and closed sales in Palmetto Bay, FL. Rolling medians smooth single-month swings in thin markets.
For the school run
School zones with homes for sale
Elementary
High school
Assigned schools as reported on active MLS listings — always verify zoning with the district.
Beyond the listings
Living in Palmetto Bay
Overwhelmingly single-family
Of 116 active listings, 97 are single-family homes, so most buyers here are shopping detached houses on generous lots.
A true luxury market
Eighty-four of the active listings are priced above $1M, with a median list price of $1,437,000.
Biscayne Bay waterfront
Thirteen active listings sit on the water, giving boaters direct canal or bay access on the east side of the village.
Strong, deliberate pricing
Homes sell at about 95% of asking after a median 66.5 days on market, so sellers hold firm but buyers have room to negotiate.
Highly rated school zones
Palmetto Bay feeds well-known Miami-Dade schools including Coral Reef and Howard Drive, a major draw for families.
Population
24,639
Median age
41
Median income
$142,447
Median home value
$879,700
What people here are into
Relationships
Top 14% in the U.S.Networking
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
Lifestyles
Top 20% in the U.S.Wealth Signaling
Interested in the finer things life has to offer, this population wants to display their lifestyle by discussing luxury products. Often references jewelry, cars, and home features.
Entertainment
Top 21% in the U.S.Party Life
The party don't stop until the sun comes up. Loud music, crowds, and shots are a recipe for a great night out for these people.
Attitudes
Top 22% in the U.S.Deal Seekers
These people are hunting discounts, contests, and promotions. The population loves a good sale, and they can't wait to share their bargain finds and winnings with friends and family.
Emotional
Happy Place
Expressing feelings of safety, comfort and happiness - especially with loved ones.
Entertainment
Lighthearted Fun
This population is all about keeping the mood light and good, clean fun. Common activities include spending time outdoors, catching up with friends, and dancing.
What it really costs
Owning here
Owning the median Palmetto Bay home
≈ $8,535/mo
$1,437,000 median · 20% down · 30-yr fixed at 6.9% · taxes/HOA from live listing data · insurance is a Florida estimate.
0%
In a FEMA flood zone
Most homes here sit outside high-risk zones
$3,300/mo
Median rent
64 homes for rent right now
Straight answers
Palmetto Bay real estate FAQs
Is Palmetto Bay a good place to live?+
It suits families and buyers who want large lots, a green suburban feel and bay access while staying inside metro Miami. The housing stock is 97 single-family homes out of 116 active listings, and the schools are a frequent reason people move here. The trade-off is price — this is a predominantly luxury market.
Is Palmetto Bay expensive?+
Yes, by most standards. The median list price is $1,437,000 and 84 of 116 active listings are priced at $1M or more, so luxury homes ($1m+) dominate the inventory. There are entry points, though — active prices start around $174,900 among condos and townhomes.
What do homes cost in Palmetto Bay?+
Over the past 12 months 292 homes sold at a median of $1,122,500, while current active listings carry a median of $1,437,000 and average about $539 per square foot. The full active range runs from $174,900 to $9,495,000, so the market spans modest condos to large bayfront estates.
How is the Palmetto Bay housing market?+
It's a measured, high-end market: homes spend a median of 66.5 days on market and sellers collect roughly 95% of asking price. With 116 active listings against 292 sales in the last year, there's reasonable choice without the frenzy, giving serious buyers time to negotiate.
What are HOA fees and property taxes like?+
Most of Palmetto Bay is detached single-family homes without meaningful HOA dues, so there's no reliable median HOA figure for the area. Property taxes are the bigger line item, with a median of about $9,047 per year reflecting the high home values.
What schools serve Palmetto Bay?+
The most common assigned schools include Coral Reef, Perrine, Howard Drive, Southwood, Palmetto and South Dade Middle. Because Miami-Dade zoning varies block to block, always confirm the exact attendance zone for a specific address before you make an offer.
Is there new construction in Palmetto Bay?+
A little. There are currently 5 new construction listings among the 116 active homes, which is typical for an established, largely built-out village where new supply usually comes from teardowns and infill rather than big subdivisions.
Can I find waterfront or pool homes here?+
Yes, though they're a limited slice of the market. There are 13 waterfront homes active along the canals and bay, plus a small number of listings advertised with a pool, so set alerts early if water access or a pool is a must.
Keep exploring
Nearby areas
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS. Market statistics are computed from listing and sold data and change as the market moves.
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