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South Miami-Dade News

Thursday, November 7, 2024

November 2021: Home prices in Palmetto Bay increased

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The median sale price of a home sold in November 2021 in Palmetto Bay rose by $220,000 while total sales increased by 54.5%, according to BlockShopper.com.

In November 2021, there were 34 homes sold, with a median sale price of $795,000 - a 38.3% increase over the $575,000 median sale price for the same period of the previous year. There were 22 homes sold in Palmetto Bay in November 2020.

The median sales tax in Palmetto Bay for the most recent year with available data, 2019, was $4,991, approximately 0.6% of the median home sale price for November 2021.

The following table compares Palmetto Bay to other Miami-Dade County cities with similar median sale prices in November 2021:

CityNov. 2021 Home SalesNov. 2020 Home Sales% change (Total Home Sales)Nov. 2021 Median Sales PriceNov. 2020 Median Sales Price% change (Median Sales Price)
Key Biscayne4314207.1%$1,700,000$1,180,00044.1%
Pinecrest392650%$965,000$1,055,000-8.5%
Miami Shores231464.3%$879,500$661,50033%
Coral Gables774957.1%$825,000$899,000-8.2%
Surfside161060%$815,000$595,00037%
Palmetto Bay342254.5%$795,000$575,00038.3%
South Miami209122.2%$717,500$730,000-1.7%
El Portal5425%$655,000$501,00030.7%
Biscayne Park45-20%$634,000$497,00027.6%
Florida City (unincorporated) 30-$625,000$0-
Medley10-$600,000$0-

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