The Palmetto Bay housing market is not very competitive. The median sale price of a home in Palmetto Bay was $1.2M last month, down 0.63% since last year. The median sale price per square foot in Palmetto Bay is $500, up 13.6% since last year.
What is the housing market like in Palmetto Bay today?
In May 2025, Palmetto Bay home prices were down 0.63% compared to last year, selling for a median price of $1.2M. On average, homes in Palmetto Bay sell after 77 days on the market compared to 76 days last year. There were 29 homes sold in May this year, down from 30 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$1,180,000
-0.63% YoY | May 2025
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
May 2025
Growth
% YoY
Palmetto Bay, FL
$1,180,000
-0.63%
United States
To compare other locations to the Palmetto Bay and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Palmetto Bay's median sale price is 176% higher than the national average. Overall cost of living in Palmetto Bay is 21% higher than the national average. Learn which home features in Palmetto Bay add value to a home.
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How hot is the Palmetto Bay housing market?
Palmetto Bay is not very competitive. Homes sell in 72 days.
0
100
27
Not Very Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Multiple offers are rare.
The average homes sell for about 5% below list price and go pending in around 72 days.
Hot homes
can sell for about 1% below list price and go pending in around 43 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Palmetto Bay housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Palmetto Bay.
Flood Factor - Severe
84% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Palmetto Bay has a severe risk of flooding. 3,255 properties in Palmetto Bay are likely to be
severely affected
by flooding over the next 30 years. This represents 84% of all properties in Palmetto Bay. Flood risk is increasing faster than the national average.
11% of properties are at risk of wildfire over the next 30 years
Fire Factor
Palmetto Bay has a moderate risk of wildfire. There are 896 properties in Palmetto Bay that have some risk of being affected by wildfire over the next 30 years. This represents 11% of all properties in Palmetto Bay.
100% of properties are at extreme
risk of a severe wind event over the next 30 years
Wind Factor
Palmetto Bay has an Extreme Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Palmetto Bay is most at risk from hurricanes. 7,881 properties in Palmetto Bay have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 221 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 236 mph.