Real Estate: Living In Palmetto
A tour boat takes tourist to see the Manatee River which runs along side the southern edges of Palmetto. File photo: Denise Kappa, Shutter Stock, licensed.
Palmetto is a beautiful bayfront city located in Manatee County. It is situated on the western coast of the state of Florida, along the southern shores of the Manatee River, and is part of the Bradenton-Sarasota-Venice Metropolitan Statistical Area.
Here are some key details about Palmetto:
- Geography: Palmetto covers a total area of approximately 8 square miles, with a mix of residential, commercial, and industrial areas. It is bordered by the Manatee River and the Terra Ceia Bay.
- Climate: Palmetto experiences a humid subtropical climate, characterized by hot, humid summers and mild winters. The region typically receives abundant rainfall throughout the year.
- History: The area where Palmetto is now located was originally inhabited by Native American tribes. European settlers arrived in the 1860s, and the city was officially incorporated in 1897. Palmetto has a rich history tied to agriculture, particularly in the cultivation of citrus fruits.
- Economy: Palmetto’s economy is diverse and encompasses various sectors. Agriculture, including citrus farming and commercial fishing, has historically played a significant role. The city also has industries such as manufacturing, construction, healthcare, and tourism.
- Attractions: Palmetto offers several attractions and recreational opportunities. The Manatee River is a popular spot for boating, fishing, and water sports. The Bradenton Area Convention Center and the Palmetto Historical Park are notable landmarks in the city. Additionally, nearby attractions include the Gamble Plantation Historic State Park and the Emerson Point Preserve.
- Transportation: The city is accessible via major highways, including Interstate 275 and U.S. Route 41. The Sarasota-Bradenton International Airport is approximately 16 miles (26 kilometers) south of Palmetto, providing air travel options.
- Education: Palmetto is served by the School District of Manatee County, which operates several public schools in the area. There are also private educational institutions available in and around the city.
- Community: Palmetto has a close-knit community and offers a range of amenities, including parks, recreational facilities, and community events. The city government focuses on enhancing the quality of life for residents and promoting economic growth.
There are over 50 residential communities in Palmetto. Some of the most popular communities include:
- Trevesta: This gated community offers single-family homes with a variety of floor plans and amenities.
- Sanctuary Cove: This gated community offers single-family homes and townhomes with a community pool, tennis courts, and playground.
- Artisan Lakes: This gated community offers single-family homes with a community pool, playground, and walking trails.
- Terra Ceia Bay: This community offers single-family homes, townhomes, and condos with a community pool, tennis courts, and playground.
- Palmetto Landings: This community offers single-family homes and townhomes with a community pool, playground, and walking trails.
These are just a few of the many residential communities in Palmetto, FL. When choosing a community, it is important to consider your needs and budget. You may also want to consider the amenities that are important to you, such as a community pool, tennis courts, or playground.
Here are some other factors to consider when choosing a residential community in Palmetto, FL:
- Location: Where do you want to live? Consider the proximity to schools, shopping, restaurants, and other amenities.
- Size: How much space do you need? Consider the size of the homes and lots in the community.
- Price: What is your budget? Consider the price of homes in the community.
- Amenities: What amenities are important to you? Consider the community’s amenities, such as a pool, tennis courts, or playground.
Once you have considered these factors, you can start narrowing down your choices and find the perfect residential community for you.
The median home price in Palmetto is approximately $395,000, as of June 5, 2023. This is up 4.0% from the previous year. The average home value in Palmetto is $390,953. Homes in Palmetto typically sell after 22 days on the market.
Here are some of the factors driving up home prices in Palmetto:
- Low inventory: There are currently fewer homes for sale in Palmetto than there are buyers. This is creating a competitive market and driving up prices.
- High demand: Palmetto is a desirable place to live, due to its proximity to Tampa Bay and its many amenities.
- Rising interest rates: Interest rates are rising, which is making it more expensive to borrow money to buy a home. This is putting some buyers out of the market, which is helping to slow the pace of price growth.
If you are considering buying a home in Palmetto, it is important to be prepared for a competitive market and rising prices. Contact us today so that we may help you find the right home for your needs and budget.