$3,800 Closing Credit*
$320,000
936 SqFt
2 Beds
•2 Full Baths
Monica Santos Gonzalez, Listing Office: Horizon Homes Realty Corp
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 September 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
$782,981
$433/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$49,184(+6.7%)
Key Takeaway
Homes in Kendall-Palmetto Bay have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Kendall-Palmetto Bay was $782,981 in September 2024, up 6.7% from last year, and the median price per square foot was $433.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $259K | -0.4% |
| 2 Bedrooms | $320K | $333.7K | +4.3% |
| 3 Bedrooms | $586.8K | $660K | +12.5% |
| 4 Bedrooms | $996.7K | $1.0M | +6.7% |
| 5+ Bedrooms | $2.3M | $2.7M | +16.9% |
Summary: Kendall-Palmetto Bay housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 16.9%.
Median Sold Price Compared To Nearby Cities
| South Miami | $940K | $1.0M | +9.0% |
| South Westside | $623K | $678.7K | +8.9% |
| Kendall-Palmetto Bay | $733.7K | $782.9K | +6.7% |
| Palmetto Bay | $1.0M | $1.0M | +5.4% |
| Pinecrest | $2.1M | $2.0M | -3.5% |
Housing Supply in Kendall-Palmetto Bay, FL
How many homes are available in Kendall-Palmetto Bay, FL?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 862 | 891 | +3.4% |
Summary: The Kendall-Palmetto Bay real estate market had 891 homes for sale in September 2024, a 3.4% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 62 | 70 | +12.9% |
| 2 Bedrooms | 130 | 133 | +2.3% |
| 3 Bedrooms | 197 | 188 | -4.6% |
| 4 Bedrooms | 210 | 227 | +8.1% |
| 5+ Bedrooms | 263 | 273 | +3.8% |
Summary: The Kendall-Palmetto Bay housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 2.3%, 3 bedroom homes decreased by 4.6%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 3.8%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 156 | 86 | -44.9% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
9 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. 64% of homes here sold below asking price last month.
Summary: A total of 86 homes were sold or pending in Kendall-Palmetto Bay in September 2024, down by 44.9% month-over-month. Of the 86 sold homes, 64% were sold under asking, 26% were sold at asking, and 10% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 38 Days | 63 Days | +64.2% |
Summary: Homes in Kendall-Palmetto Bay had an average of 63 days on market in Sep 2024, up by 64.2% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
22 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 September 2024, 86 homes were sold in Kendall-Palmetto Bay; 47% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
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The data relating to real estate for sale on this website comes in part from the Southwest Florida Multiple Listing Service. The information being provided is for consumers` personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information has not been verified, is not guaranteed, and is subject to change. Real estate listings held by other brokerage firms other are marked with the IDX logo and detailed information about them includes the name of the listing brokers.