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The Palm Island market
Market report · Neighbourhood · Sep 2026
The Palm Island market, in numbers
Part of Miami Beach — see the Miami Beach report
Homes in Palm Island typically sell in about 163 days. With 19.8 months of inventory, it’s a buyer’s market.
Some comparisons are hidden until at least 3 transactions close in a month. Medians below are drawn from very small samples — treat them as indicative.
Median sale price
$5.75M
↓ −72.6% MoM
1 sales closed in Sep 2026
Low sampleMedian rent
$19k/mo
↓ −70.8% MoM↓ −24.2% YoY
1 leases closed in Sep 2026
Low sampleTime to sell
163 days
typical days on market
Low sampleDays from listing to going under contract.
Months of inventory
19.8 mo
buyer’s market
Low sampleActive listings divided by the monthly sales pace. Under 4 months favors sellers; over 6 favors buyers.
Sells 41 days slower than Miami Beachdays on market
Your questions, answered
Straight answers from Palm Island’s closed transactions.
What does a home here cost?
The median sale closed at $5.75M in Sep 2026. Typical sales ranged $5.75M–$5.75M.
What income do you need to buy here?
At a 6.5% 30-year mortgage with 20% down, the median home runs about $38k/mo including taxes — comfortable at a household income around $1.53M a year, using the 30% rule. Renting instead costs $19k/mo.
Is now a good time to buy?
19.8 months of inventory points to a buyer’s market.
How fast do homes sell?
About 163 days from listing to contract in Sep 2026. The pace picks up toward May and slows around February.
How much room is there to negotiate?
Not enough closed sales this month to measure — the price-cut chart below is the best proxy.
When is the best time to list?
Closings peak in May and bottom out around February. Listing four to six weeks ahead of the peak historically gets the most eyes.
Is it a good rental investment?
Yield needs at least 3 closed sales and 3 closed leases in a month — this area doesn’t clear that bar yet.
Buying vs renting
Price-to-rent ratio is 25.3 — buying typically starts to beat renting after roughly 10+ years here.
To buy — median sale price
Sale price, $
$5.75M↓ −72.6% MoM
Sep 2026 — median $5.75M · 1 sales · 163 days on market · low sample
$0
$10.0M
$20.0M
$30.0M
$40.0M
Oct ’25
Dec ’25
Feb ’26
Apr ’26
Jun ’26
Aug ’26
To rent — median monthly rent
Monthly rent, $
$19k/mo↓ −70.8% MoM↓ −24.2% YoY
Sep 2026 — median $19k/mo · 1 leases · 70 days on market · low sample
$0
$20k
$40k
$60k
$80k
$100k
Oct ’25
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Jun ’26
Aug ’26
MedianTypical range (5th–95th percentile)3+ closingsUnder 3 (low sample)No closings (activity only)Tap or hover any month for its numbers.
What each size costs
Medians over the last 12 months.
Beds
To buy
To rent
Volume
3 beds
—
$19k/mo
1 closed Low sample
What sells here
Sales mix and median price by property type, last 12 months.
House
$18.22M
100% of sales · 7 closed
Market depth
Supply and demand
Listings per month
Sep 2026 — 1 closed · 0 new · 33 active
0
20
40
60
Oct ’24
Jan ’25
Apr ’25
Jul ’25
Oct ’25
Jan ’26
Apr ’26
Jul ’26
ClosedActive (on market)New listings
Seasonality
Avg closings
Listings move fastest in May
0
0.2
0.4
0.6000000000000001
0.8
J
F
M
A
M
J
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Average closings by calendar month, drawn from at least two years of history.
Price-cut pressure
% of active listings
Sep 2026 — 24% of active listings cut · median cut 6.7%
0%
10%
20%
30%
40%
50%
Oct ’24
Jan ’25
Apr ’25
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Oct ’25
Jan ’26
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3-month averageSingle month
HOA fees per sqft
$ per sqft, monthly
Too few closed transactions to chart HOA fees here.
Median monthly HOA fee per square foot among closed sales.
How neighbourhoods compare across Miami Beach
Median sale price, last 12 months. Tap a row to open its report.
Based on 23 closed transactions over the period shown · Updated Oct 4, 2026 · Medians drawn from fewer than 3 closings are flagged as low sample.