In August 1992, Palmetto Bay and the surrounding South Miami-Dade area were extremely damaged by Hurricane Andrew. Many of the homes and businesses in Palmetto Bay were destroyed. In the subsequent years, the area was slowly rebuilt. Unlike the destroyed homes, which were made of wood frame construction, the new homes and construction were rebuilt with concrete walls. Although many areas of Miami were heavily affected by Hurricane Andrew, Palmetto Bay was one of the worst affected and remains a reminder of the hurricane’s extensive disaster in the city today.
Home of many parks, one of the most beautiful parks in the area is the Coral Reef Park with more than 50 acres of open green spaces, pine land, preserved areas and a tranquil streaming canal the park is centrally located for walking, playing, reading, relaxing and picnicking. Coral Reef hosts free outdoor movies for residents throughout the year, tennis programs and exercise classes. Residents also come out for beach volleyball in the white sand court, baseball, exercise trail or just for a meal and refreshments at the Parkiside Cafe.
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Palmetto Bay is considered to be a very livable city with a score of 73 points out of 100, which is considered a great score (To put this into perspective, Florida State scores 69 points while the entire USA scores 70 points on average). It means good quality of life, higher income per capita, higher education and last but not least a stable housing market.
In the last 6 months the medium price per square feet of real estate in Palmetto Bay Fl. was around $250, considering single- family homes at any sizes and style and the average sold price is around $577,000. Real estate in Palmetto Bay Florida is desired because of the spacious lots and the affordable prices compared to other desired areas like the Grove, the Gables or Pinecrest.
The city is served by Miami Dade Public Schools and the schools in the area have great ratings like Coral Reef Elementary, Southwood Middle and Palmetto Senior High. Also located in Palmetto Bay is one of the best private schools in Miami Dade – Palmer Trinity School which makes Palmetto Bay Florida real estate very attractive for families that contemplate this kind of education.