The Palace Homes for Sale

The Palace Condo is a waterfront community in Miami, Miami-Dade County, Florida. Active listings are priced from $575,000 to $1,400,000. Homes were built starting 1981. Pure Equity lists homes in The Palace and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers The Palace and the Miami 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 6 The Palace Miami homes for sale as of October 2026. The median asking price is $1.01M. Asking prices run from $50,000 to $1.4M.

That is 56% above the Miami median of $645,000. On a per-foot basis, homes here ask about $619 per square foot, compared with $509 across Miami. So the median price buys roughly 1,650 square feet of living area.

Listings here have averaged 95 days on the market. That is faster than the Miami average of 144 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in The Palace date from 1981, so they are about 45 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.

The Palace includes waterfront homes. Waterfront lots in South Florida often sit in FEMA special flood hazard areas, where lenders require flood insurance. Before you commit, look up the address on the FEMA Flood Map Service Center and ask the seller for an elevation certificate.

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

Rentals in The Palace have a median asking rent of $3,700 per month, across 1 active rental listing. For comparison, the Miami median is $3,000, so rents here run 23% higher.

You can browse current Miami rentals or ask us for a rent estimate on a specific The Palace home.

Here is what the median The Palace price means in Florida closing terms. At $1.01M, a 20% down payment comes to about $201,000, leaving a loan near $805,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $2,817. Next, the intangible tax of 0.2% adds about $1,610. 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 $6,036 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 The Palace listings show assignments to Coral Way K-8 (elementary), Ponce De Leon (middle) and Miami (high). However, boundaries can change each year, so confirm the assignment for a specific address with Miami-Dade County Public Schools.