In October 2019, there were 47 homes sold, with a median sale price of $399,000 - a 23.4% decrease over the $520,650 median sale price for the same period of the previous year. There were 56 homes sold in Palmetto Bay in October 2018.
The median sales tax in Palmetto Bay for the most recent year with available data, 2015, was $4,460, approximately 1.1% of the median home sale price for October 2019.
The following table compares Palmetto Bay to other Miami-Dade County cities with similar median sales prices in October 2019:
| City | Oct. 2019 Home Sales | Oct. 2018 Home Sales | % change (Total Home Sales) | Oct. 2019 Median Sales Price | Oct. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| South Miami (unincorporated) | 23 | 28 | -17.9% | $680,000 | $422,900 | 60.8% |
| Surfside | 17 | 11 | 54.5% | $500,000 | $650,000 | -23.1% |
| Miami Shores | 32 | 22 | 45.5% | $497,500 | $464,800 | 7% |
| South Miami | 10 | 21 | -52.4% | $433,750 | $372,500 | 16.4% |
| Biscayne Park | 4 | 5 | -20% | $415,000 | $383,000 | 8.4% |
| Palmetto Bay | 47 | 56 | -16.1% | $399,000 | $520,650 | -23.4% |
| Miami Springs | 15 | 19 | -21.1% | $383,000 | $355,000 | 7.9% |
| El Portal | 5 | 4 | 25% | $380,100 | $326,500 | 16.4% |
| Sweetwater | 7 | 14 | -50% | $380,000 | $259,500 | 46.4% |
| West Miami | 6 | 4 | 50% | $370,000 | $410,000 | -9.8% |
| Miami Lakes | 25 | 37 | -32.4% | $360,000 | $345,000 | 4.3% |
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