Cape San Blas lot sale dropped by nearly half in April with only 7 closing. The C30 Corridor was our leader with 3 sales, one of which was Gulf front, while Indian Pass (also one Gulf front) and North Cape San Blas sub areas each delivered 2 sales. The average sales price and average days on market were also down to $131,271 and 84 days on market vs March’s average of $203,250 and 106 days on market. The lots under contract nearly doubled, to 18 which leaving behind plenty to choose from, see the remaining 214 here. Of the lots available, many are a part of the new ‘Bay Club’ RV development in the C30 corridor. The recent Bay Colors did so well, the same developer found a way to replicate! April home sales saw another decline with only 4 closings. Two each on North Cape and South Cape San Blas. The average days on market fell tremendously to just 84 days however the average sales price also fell to just $436,750. I contribute the decrease in average sales price to none of April’s sales being waterfront compared to three in March. As in lots the homes under contract has more than doubled, see all 12 here. We are left with 96 homes to choose from in this market.
North Gulf County lot sales remained steady with another 5 closings. The Wewahitchka sub area took the lead with 2 sales, which have been on market nearly 2 years! 😮 Dalkeith, Howard Creek and Overstreet North each closed one lot. The positive in the Overstreet North sale is that it was in the Wetappo subdivision which has is a beautiful development but has seen little action in the last several years. The average sales price was $23,700 with 153 average days on market. Projections for May are a little slimmer with only 4 lots under contract now. There are still 105 lots on market. Home sales rose by 1 for a total of 3 closings in April. Two of these sales were in the Wewa sub area, while the third was in Howard Creek. The average sales price fell to $120,000 with 105 days on market. Homes sales look to make a huge increase with 14 currently under contract, leaving only 37 to choose from.
Port St Joe saw a small increase with 6 lot sales. These sales were equally divided between the City of PSJ and Oak Grove, for what I foresee to be an equally split of homes and RV lots. The average sales price was $64,583 and 167 days on market. As of now we have 5 lots under contract, and 63 available. Home sales saw another decrease with just 3 sales, one new mobile home in Oak Grove and two single family homes in the City of Port St Joe. The average sales price rose again to $225,933 with a nice decrease of only 37 days on market. May could be one of the best months we’ve seen in in this market in quite some time with a whopping 21 homes under contract! If all these close we are left with a mere 41 homes to choose from, still several of which need renovations.
Mexico Beach vacant land sales are identical to the February and March stats with 9 closings. St Joe Beach closed 5 of these transactions while Mexico Beach closed 3 and Beacon Hill 1. The average sales price did drop from $134k to $87,222 and days on market rose from 55 to 147. There are now 21 lots under contract and 144 available, most of which are in restricted subdivision, making those outside of highly desirable. The residential market closed another 19 homes. Mexico Beach, as usual lead the pack with 7 sales, St Joe Beach 6, WindMark Beach closed 4, while Beacon Hill and Overstreet South each closed 1 home. The average sales price of homes rose just as in lot sales for the MB market. April’s average was $353,291 with a small decrease in days on market for an average of 102. There are now 28 homes under contract and 74 available. With summer now upon us the desire for a canal front is through the roof. If you or someone you know has considered selling, call me!!
With Covid-19 shutdowns things were a bit slower in April, however since many states, including Florida have slowly reopened, the contracts on hand have risen drastically in the last three weeks, hence the delay in this report. We are so grateful to live, work and play in a community loved and desired by so many! I am also pleased to say Gulf County has only has 1 Covid case since this pandemic began.
*Please note: I am working with our Association Executive to have days on market added to the vacant land reports.
Team 98 continues to maintain Top Producing Company in Mexico Beach and North Gulf County markets year to date! Our broker, Zach Childs is holding tight to his title of Top Producing Agent in Mexico Beach, while I gratefully still hold Top Producing Agent in North Gulf County! We couldn’t do this without the trust and support of faithful and loyal customers like yourself! Thank you all for your continued patience, trust and support!
Prepared By: Miranda Rollins, REALTOR®
850-527-4343
www.mirandarollins.com / www.gulfrealestateblog.com