In January 2021, there were 18 homes sold, with a median sale price of $660,500 - a 51.1% increase over the $437,000 median sale price for the same period of the previous year. There were 60 homes sold in Palmetto Bay in January 2020.
The median sales tax in Palmetto Bay for the most recent year with available data, 2019, was $4,991, approximately 0.8% of the median home sale price for January 2021.
The following table compares Palmetto Bay to other Miami-Dade County cities with similar median sale prices in January 2021:
| City | Jan. 2021 Home Sales | Jan. 2020 Home Sales | % change (Total Home Sales) | Jan. 2021 Median Sales Price | Jan. 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Miami Beach | 146 | 238 | -38.7% | $1,342,500 | $329,500 | 307.4% |
| Coral Gables | 56 | 81 | -30.9% | $1,095,000 | $632,000 | 73.3% |
| South Miami (unincorporated) | 14 | 35 | -60% | $1,085,000 | $375,000 | 189.3% |
| Surfside | 12 | 13 | -7.7% | $710,000 | $525,000 | 35.2% |
| Sunny Isles Beach | 38 | 73 | -47.9% | $685,000 | $267,000 | 156.6% |
| Palmetto Bay | 18 | 60 | -70% | $660,500 | $437,000 | 51.1% |
| El Portal | 1 | 6 | -83.3% | $655,000 | $472,000 | 38.8% |
| Miami Shores | 20 | 26 | -23.1% | $655,000 | $527,500 | 24.2% |
| South Miami | 7 | 24 | -70.8% | $600,000 | $407,500 | 47.2% |
| Biscayne Park | 2 | 4 | -50% | $567,500 | $530,000 | 7.1% |
| Miami Lakes | 6 | 46 | -87% | $450,500 | $378,750 | 18.9% |
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