From July through September of 2019, there were 160 homes sold, with a median sale price of $485,000 - a 0.4% decrease over the $487,000 median sale price for the same period of the previous year. There were 160 homes sold in Palmetto Bay in the third quarter of 2018, as well.
The median sales tax in Palmetto Bay for the most recent year with available data, 2015, was $4,460, approximately 0.9% of the median home sale price for the third quarter of 2019.
The following table compares Palmetto Bay to other Miami-Dade County cities with similar median sales prices in the third quarter of 2019:
| City | July - Sept. 2019 Home Sales | July - Sept. 2018 Home Sales | % change (Total Home Sales) | July - Sept. 2019 Median Sales Price | July - Sept. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Key Biscayne | 65 | 66 | -1.5% | $900,000 | $807,000 | 11.5% |
| Pinecrest | 122 | 111 | 9.9% | $787,500 | $732,000 | 7.6% |
| Coral Gables | 260 | 256 | 1.6% | $675,550 | $620,000 | 9% |
| Surfside | 26 | 34 | -23.5% | $547,500 | $595,000 | -8% |
| Miami Shores | 64 | 102 | -37.3% | $541,000 | $526,000 | 2.9% |
| Palmetto Bay | 160 | 160 | 0% | $485,000 | $487,000 | -0.4% |
| South Miami | 53 | 45 | 17.8% | $466,000 | $322,300 | 44.6% |
| El Portal | 19 | 19 | 0% | $440,000 | $378,000 | 16.4% |
| Biscayne Park | 12 | 18 | -33.3% | $400,000 | $475,250 | -15.8% |
| Miami Springs | 41 | 47 | -12.8% | $385,000 | $350,000 | 10% |
| Virginia Gardens | 4 | 9 | -55.6% | $366,250 | $330,000 | 11% |
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