Home prices increased in Palmetto Bay during January 2021

Medium realestate3

The median sale price of a home sold in January 2021 in Palmetto Bay rose by $223,500 while total sales decreased by 70%, according to BlockShopper.com.

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:

CityJan. 2021 Home SalesJan. 2020 Home Sales% change (Total Home Sales)Jan. 2021 Median Sales PriceJan. 2020 Median Sales Price% change (Median Sales Price)
Miami Beach146238-38.7%$1,342,500$329,500307.4%
Coral Gables5681-30.9%$1,095,000$632,00073.3%
South Miami (unincorporated) 1435-60%$1,085,000$375,000189.3%
Sunny Isles Beach3873-47.9%$685,000$267,000156.6%
Palmetto Bay1860-70%$660,500$437,00051.1%
El Portal16-83.3%$655,000$472,00038.8%
Miami Shores2026-23.1%$655,000$527,50024.2%
South Miami724-70.8%$600,000$407,50047.2%
Biscayne Park24-50%$567,500$530,0007.1%
Miami Lakes646-87%$450,500$378,75018.9%

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