$2,909 Closing Credit*
$245,000
880 SqFt
2 Beds
•1 Full Bath
Thelma Jerez, Listing Office: Keller Williams Realty Premier Properties
Is Kendall-Palmetto Bay, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Kendall-Palmetto Bay was a Seller's Market.
Key Takeaway
Kendall-Palmetto Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Kendall-Palmetto Bay, FL
How much do homes in Kendall-Palmetto Bay, FL cost?
Median Sold Price
$772,212
$436/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$23,727(+3.2%)
Key Takeaway
Homes in Kendall-Palmetto Bay have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in Kendall-Palmetto Bay was $772,212 in November 2024, up 3.2% from last year, and the median price per square foot was $436.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $253.4K | -2.5% |
| 2 Bedrooms | $325K | $335K | +3.1% |
| 3 Bedrooms | $619.9K | $643.5K | +3.8% |
| 4 Bedrooms | $983.5K | $1.1M | +11.8% |
| 5+ Bedrooms | $2.3M | $2.8M | +22.0% |
Summary: Kendall-Palmetto Bay housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 22%.
Median Sold Price Compared To Nearby Cities
| South Westside | $632.5K | $695K | +9.9% |
| South Miami | $950K | $1.0M | +5.3% |
| Pinecrest | $2.1M | $2.2M | +3.6% |
| Kendall-Palmetto Bay | $748.4K | $772.2K | +3.2% |
| Palmetto Bay | $1.0M | $1.0M | -1.8% |
Housing Supply in Kendall-Palmetto Bay, FL
How many homes are available in Kendall-Palmetto Bay, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 934 | 987 | +5.7% |
Summary: The Kendall-Palmetto Bay real estate market had 987 homes for sale in November 2024, a 5.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 69 | 87 | +26.1% |
| 2 Bedrooms | 131 | 150 | +14.5% |
| 3 Bedrooms | 211 | 207 | -1.9% |
| 4 Bedrooms | 252 | 255 | +1.2% |
| 5+ Bedrooms | 271 | 288 | +6.3% |
Summary: The Kendall-Palmetto Bay housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.1%, 2 bedroom homes increased by 14.5%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 112 | 113 | +0.9% |
Asking Price vs. Sold Price
79 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kendall-Palmetto Bay, you may be able to get a good deal. 69.9% of homes here sold below asking price last month.
Summary: A total of 113 homes were sold or pending in Kendall-Palmetto Bay in November 2024, up by 0.9% month-over-month. Of the 113 sold homes, 70% were sold under asking, 26% were sold at asking, and 4% were sold over asking.
Days on Market for Kendall-Palmetto Bay, FL
How long does it take to sell a home in Kendall-Palmetto Bay, FL?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 63 Days | +66.8% |
Summary: Homes in Kendall-Palmetto Bay had an average of 63 days on market in Nov 2024, up by 66.8% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
32 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kendall-Palmetto Bay are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 113 homes were sold in Kendall-Palmetto Bay; 43% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
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