Is Kendall-Palmetto Bay, FL a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Kendall-Palmetto Bay is a seller's market


Difference Since August 2022

Since last year, Kendall-Palmetto Bay has remained a Seller's Market.

Key Takeaway

Kendall-Palmetto Bay is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in Kendall-Palmetto Bay, FL cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Kendall-Palmetto Bay have sold for 7.3% more than they did a year ago.

Summary: The median home sold price in Kendall-Palmetto Bay was $716,000 in August 2023, up 7.3% from last year, and the median price per square foot was $388.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $215K$260K
2 $282.2K$325K
3 $528.3K$585.3K
4 $988.7K$999.9K
5+ $2.3M$2.3M

Summary: Kendall-Palmetto Bay housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 20.9%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

South Westside
Palmetto Bay
Kendall-Palmetto Bay
South Miami

Housing Supply

How many homes are available in Kendall-Palmetto Bay, FL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Kendall-Palmetto Bay real estate market had 638 homes for sale in August 2023, a 5.3% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 2524
2 7187
3 132131
4 183177
5+ 195219

Summary: The Kendall-Palmetto Bay housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 4%, 2 bedroom homes increased by 22.5%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 12.3%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

75 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kendall-Palmetto Bay, you may be able to get a good deal. 65.2% of homes here sold below asking price last month.

Summary: A total of 115 homes were sold or pending in Kendall-Palmetto Bay in August 2023, down by 11.5% month-over-month. Of the 115 sold homes, 65% were sold under asking, 13% were sold at asking, and 22% were sold over asking.

Days on Market

How long does it take to sell a home in Kendall-Palmetto Bay, FL?

Average Sale Time

Aug 2022Aug 2023CHANGE
32 Days39 Days+20.6%

Summary: Homes in Kendall-Palmetto Bay had an average of 39 days on market in Aug 2023, up by 20.6% compared to last year.

Breakdown of Home Sale Times

73 Homes Were Sold
Under 30 Days

29 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Kendall-Palmetto Bay are selling fast, if you're buying plan to act quickly.

Summary: During August 2023, 115 homes were sold in Kendall-Palmetto Bay; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

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Nearby Markets

What housing markets are near Kendall-Palmetto Bay, FL?