Palm Island Margate Homes for Sale

Palm Island Margate is a residential community in Margate, Florida.

Pure Equity Realty covers Palm Island Margate and the Margate 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 Island Margate Margate homes for sale as of October 2026. The median asking price is $502,000. Asking prices run from $465,000 to $539,000.

That is 218% above the Margate median of $158,000. On a per-foot basis, homes here ask about $321 per square foot, compared with $165 across Margate. So the median price buys roughly 1,550 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 63 days on the market. That is faster than the Margate average of 132 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in Palm Island Margate date from 1994, so they are about 32 years old.

All of these homes predate Florida's 2002 statewide building code. So roof age, window protection and the wind mitigation report matter a great deal for insurance.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Here is what the median Palm Island Margate price means in Florida closing terms. At $502,000, a 20% down payment comes to about $100,000, leaving a loan near $402,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $1,406. Next, the intangible tax of 0.2% adds about $803. Buyers normally pay both at closing.

On the seller side, Florida deed stamps cost 70 cents per $100 of price. At the Palm Island Margate median, that is about $3,514.

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 Island Margate listings show assignments to Atlantic West (elementary), Margate (middle) and Coconut Creek (high). However, boundaries can change each year, so confirm the assignment for a specific address with Broward County Public Schools.