Palm Terrace Homes for Sale

Palm Terrace is a residential community in Coconut Grove, Florida.

Pure Equity Realty covers Palm Terrace and the Coconut Grove area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows 2 Palm Terrace Coconut Grove homes for sale as of October 2026. The median asking price is $2.79M. Asking prices run from $2.6M to $2.98M.

That is 16% below the Coconut Grove median of $3.32M. On a per-foot basis, homes here ask about $904 per square foot, compared with $1,349 across Coconut Grove. So the median price buys roughly 3,100 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 84 days on the market. That is faster than the Coconut Grove average of 164 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in Palm Terrace date from 2022, so they are about 4 years old.

Every one of these homes went up after Florida adopted its statewide building code in 2002. In practice, that usually means impact-rated openings and stronger roof attachment. A wind mitigation inspection documents those features, and Florida insurers must offer premium discounts for them.

Rentals in Palm Terrace have a median asking rent of $15,250 per month, across 1 active rental listing. That is close to the Coconut Grove median of $15,250.

You can browse current Coconut Grove rentals or ask us for a rent estimate on a specific Palm Terrace home.

Here is what the median Palm Terrace price means in Florida closing terms. At $2.79M, a 20% down payment comes to about $558,000, leaving a loan near $2.23M.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $7,805. Next, the intangible tax of 0.2% adds about $4,460. Buyers normally pay both at closing.

On the seller side, Miami-Dade charges deed stamps of 60 cents per $100 on a single-family home, about $16,725 at this price. Condos and other property types pay a higher rate.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent Palm Terrace listings show assignments to Coconut Grove (elementary), Ponce De Leon (middle) and Coral Gables (high). However, boundaries can change each year, so confirm the assignment for a specific address with Miami-Dade County Public Schools.