Live MLS data · 120 active listings · $1.5M median · Updated May 2026
The Palmetto Bay housing market has 120 active listings with a median asking price of $1.5M as of May 2026. 83% of listings have had a price reduction. Average price per square foot is $558, with homes spending an average of 87 days on market — a buyer's market.
120
Active Listings
$1.5M
Median Price
$558
Avg $/sqft
87
Avg Days on Market
83%
Price Reduced
| Bedrooms | Active Listings | Median Price |
|---|---|---|
| Studio/1 BR | 5 | $190K |
| 2 BR | 5 | $250K |
| 3 BR | 19 | $745K |
| 4 BR | 50 | $1.4M |
| 5+ BR | 41 | $2M |
The Palmetto Bay real estate market currently has 120 active listings as of May 2026, with a median asking price of $1.5M and an average of $558/sqft. Homes are spending an average of 87 days on market — conditions are leaning in favor of buyers, with longer listing times and more seller flexibility.
Condos represent the best value in Palmetto Bay right now, with an average price per square foot of $272 and a median asking price of $210K. There are currently 10 active condos listings available.
With 83% of listings having seen a price reduction, there is meaningful negotiating room in Palmetto Bay. Buyers who are patient and well-prepared can expect sellers to be more flexible on price and terms.
As of May 2026, the median asking price in Palmetto Bay is $1.5M, with an average of $1.7M. Prices range from $177K to $7.4M. The average price per square foot is $558.
Palmetto Bay is currently a buyer's market. Homes average 87 days on market and 83% of listings have had price reductions — indicating seller flexibility. Buyers have real room to negotiate.
As of May 2026, homes in Palmetto Bay spend an average of 87 days on market before going under contract. This varies by price range and property type — condos and lower-priced homes typically move faster. ELLA's IQ score flags listings that have been sitting longer than expected, often indicating negotiation opportunity.
Condos are currently the most affordable by price per square foot in Palmetto Bay, averaging $272/sqft with a median price of $210K. There are 10 active condos listings available.
Based on the median home price of $1.5M in Palmetto Bay, Casa Simple buyers typically receive a rebate of $10K–$20K at closing. This is cash back from the buyer's agent commission — you pay nothing extra. The exact rebate depends on purchase price and plan.
HOA fees are not aggregated at the city level in our market report. Fees vary widely by building, community, and property type — condos typically have higher fees than single-family homes. Each listing on Casa Simple shows the HOA fee when available. For condo buildings, visit the building's dedicated page to see estimated average HOA fees.
ELLA analyzes every listing in Palmetto Bay with an AI-powered IQ score. Get up to $20K back at closing.