Palmetto Bay Real Estate Report June 2023
This real estate market report provides an overview of the Palmetto Bay market based on the sold data from June 2022 to June 2023. The data includes information on listed prices, sold prices, price per square foot (S/F), and the count of sold prices.
During this period, a total of 261 properties were sold in Palmetto Bay, with a grand total value of $279,520,998. Let’s analyze the market trends for the given timeframe:
Sold Price Analysis:
- The highest sold price occurred in June 2022, with a property sold for $36,889,900, listed at $35,706,069. This sale had a price per square foot of $412.08.
- The lowest sold price was recorded in November 2022, with a property sold for $9,487,000, listed at $10,426,499. This sale had a relatively high price per square foot of $511.75.
- The average sold price per square foot for all properties sold during this period was $442.15.
Market Activity:
- June 2023 saw the highest number of properties sold, with 32 transactions. April 2023 and May 2023 followed closely with 32 and 29 transactions, respectively.
- The month with the lowest number of transactions was January 2023, with only 10 properties sold.
Price per Square Foot Analysis:
- The highest price per square foot was observed in June 2023, with $500.50 per square foot.
- The lowest price per square foot was recorded in January 2023, with $409.93 per square foot.
Conclusion:
The Palmetto Bay real estate market demonstrated a mix of fluctuations in sold prices and price per square foot over the analyzed period. Overall, the market remained relatively active, with a total value of $279,520,998. It is important to note that real estate market conditions are subject to various factors, and it is advisable to consult with a real estate professional or conduct further research for a comprehensive understanding of the current market dynamics in Palmetto Bay.
Considering the current low inventory of houses in Palmetto Bay, now is an opportune time to sell your property. The limited availability of homes on the market can create a favorable environment for sellers, as the demand often outpaces the supply. If you are considering selling your house and need assistance throughout the process, our team is here to help. You can reach us in Miami at 786-287-3241. Our experienced professionals can provide guidance, market insights, and support to ensure a smooth and successful selling experience. Don’t miss out on this favorable market condition – take advantage of the low house inventory in Palmetto Bay today.
