Ramesh Nyberg's Real Estate Blog

..let's hope so, anyway. That's the last line in the old mariner's rhyme about the months of hurricane season: June too soon, July standby, August, beware you must, September remember, October all over. Of course, in the last decade, we've all learned that its not over in October by a long shot, right?

The September sales stats are out, and as usual, you can click on $ales By the Numbers (to the left) to go see the market data charts for Miami-Dade, Palmetto Bay, and Pinecrest. Those two municipalities had a down month in September, the first time in months that their pending sales had gone down and their inventory had inched up. Overall, though, the inventory of Miami-Dade County single family homes continued to fall, dropping below 9046 unsold properties, compared to 16,802 one year ago. Pending sales climbed for the 4th month, to 1,336, but closings, poisoned by short sales, dipped slightly for the second straight month.

Average sales prices were up for the 2nd straight month, to $334,000. That's the highest number in that category since December 2008.

Palmetto Bay's Village Homes and Condos, where I purchased at the beginning of the year, is seeing some interesting sales occurring. The 2 bedroom villas (half of a "twin home," or duplex) have sold briskly, and the last two that sold closed above asking price, and at prices we haven't seen in that area since last year.

Speaking of Palmetto Bay, I went to the Wine on Harvest Moon at the Deering Estate there last weekend, it was a fabulous event. If you've never been, make it a point to go next year, especially if you have a birthday, anniversary, or some other thing to celebrate. We enjoyed exemplary food and wines from several restaurants, wonderful live music (great job FIU school of music!), an auction, and a real nice collection of people, all in an awesome setting, by the bay.

More focus on Palmetto Bay's Franjo Triangle, as promised to come...there's a lot happening there and I want to dig a little deeper before I bring you the news here.