Ritz Royal Palm Homes for Sale

Ritz Royal Palm is a residential community in Miami Beach, Florida. Active listings are currently priced from $260K–$325K.

Pure Equity Realty covers Ritz Royal Palm and the Miami Beach 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 Ritz Royal Palm Miami Beach homes for sale as of September 2026. The median asking price is $293,000. Asking prices run from $260,000 to $325,000.

That is 55% below the Miami Beach median of $650,000. On a per-foot basis, homes here ask about $322 per square foot, compared with $697 across Miami Beach. So the median price buys roughly 900 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 346 days on the market. That is slower than the Miami Beach average of 174 days. Because of that, buyers often have more room to negotiate on price, repairs or closing costs.

Homes listed in Ritz Royal Palm date from 1955, so they are about 71 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.

Condo buyers should also know Florida's 2022 condo safety law. It requires milestone structural inspections for buildings three stories or taller as they age. It also requires a structural integrity reserve study. Before you sign, request both reports and the current reserve balance.

Ritz Royal Palm is a condo building. Also request the association budget, recent minutes and any special assessments before you sign.

Here is what the median Ritz Royal Palm price means in Florida closing terms. At $293,000, a 20% down payment comes to about $59,000, leaving a loan near $234,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $819. Next, the intangible tax of 0.2% adds about $468. 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 $1,755 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 Ritz Royal Palm listings show assignments to Biscayne Beach (elementary), Miami Beach Nautilus (middle) and Miami Beach (high). However, boundaries can change each year, so confirm the assignment for a specific address with Miami-Dade County Public Schools.