$8,253 Closing Credit*
$695,000
2,468 SqFt
3 Beds
•2 Full Baths
Piper Rothan PA, Listing Office: The Keyes Company
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 October 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
$779,675
$433/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,063(+4.7%)
Key Takeaway
Homes in Kendall-Palmetto Bay have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Kendall-Palmetto Bay was $779,675 in October 2024, up 4.7% from last year, and the median price per square foot was $433.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $262.5K | $255K | -2.9% |
| 2 Bedrooms | $325K | $331.8K | +2.1% |
| 3 Bedrooms | $619.7K | $647.2K | +4.4% |
| 4 Bedrooms | $986.2K | $1.0M | +10.4% |
| 5+ Bedrooms | $2.4M | $2.7M | +13.0% |
Summary: Kendall-Palmetto Bay housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Cities
| South Westside | $630K | $684.8K | +8.7% |
| South Miami | $950K | $999.5K | +5.2% |
| Kendall-Palmetto Bay | $744.6K | $779.6K | +4.7% |
| Palmetto Bay | $1.0M | $1.0M | +2.4% |
| Pinecrest | $2.2M | $2.0M | -5.7% |
Housing Supply in Kendall-Palmetto Bay, FL
How many homes are available in Kendall-Palmetto Bay, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 851 | 957 | +12.5% |
Summary: The Kendall-Palmetto Bay real estate market had 957 homes for sale in October 2024, a 12.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 66 | 68 | +3.0% |
| 2 Bedrooms | 124 | 137 | +10.5% |
| 3 Bedrooms | 181 | 207 | +14.4% |
| 4 Bedrooms | 223 | 261 | +17.0% |
| 5+ Bedrooms | 257 | 284 | +10.5% |
Summary: The Kendall-Palmetto Bay housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 102 | 95 | -6.9% |
Asking Price vs. Sold Price
62 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
13 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. 65.3% of homes here sold below asking price last month.
Summary: A total of 95 homes were sold or pending in Kendall-Palmetto Bay in October 2024, down by 6.9% month-over-month. Of the 95 sold homes, 65% were sold under asking, 21% were sold at asking, and 14% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 41 Days | -11.1% |
Summary: Homes in Kendall-Palmetto Bay had an average of 41 days on market in Oct 2024, down by 11.1% compared to last year.
Breakdown of Home Sale Times
53 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
14 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 October 2024, 95 homes were sold in Kendall-Palmetto Bay; 56% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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