Cape San Blas alongside many of our other markets is proving past trends. April is generally a slower month due to Spring Break and the school year wrapping up. This market had a large drop in sales with only 3 closings in April. C30, Cape San Blas North and Cape San Blas South each closed one lot. These sales average $138k over a 67 day marketing period. May should put us back on track with 14 lots currently under contract. If you or someone you know is shopping this market, we have 88 lots available. Home sales experienced a decrease with just 8 closings. Cape San Blas South closed 3 new construction homes, Cape San Blas North and C30 (1 Lagoon front) each closed 2 homes while Indian Pass moved a reno-ready home. These sales averaged $756,013 over 58 days on market. Plenty of folks looking forward to summers at the beach with 17 homes under contract and 49 to choose from.
North Gulf County land sales remained fairly consistent with prior months, closing 9 lots. Overstreet North brought 5 sales to the table (1 Lake front), White City 2, Dalkeith and Wewa each closed one. Sales averaged $44,378 with 132 days on market. May looks to be positive with 11 lots under contract, of the 84 lots available, you’ll find a little of everything from small to large acreage, restricted and unrestricted properties. Home sales also saw a slight decrease to just 5 closings, 3 in the City of Wewa and one each for Wewa and Howard Creek. Those sales delivered an average of $202,380 in 92 days. Six others under contract and still 34 to choose from.
Port St Joe also experienced a decrease with only 2 lot sales in April, one in Oak Grove and the other in the City of PSJ. These sales averaged $70,750 over a 25 day period. There are 4 lots under contract and 24 on market. The residential market also saw a decrease with just 6 sales, all of which were in the City of PSJ sub area. The average sales price saw a $100k increase to $420,843 and days on market doubled to 191. May should be popping with 23 homes under contract and 32 to on market.
Mexico Beach is the only market with an increase, not only did sales increase, they doubled! Of the 13 land sales, Mexico Beach closed 5, St Joe Beach 3, WindMark Beach and Beacon Hill each delivered 1. The sales price also doubled to $321,250 with 117 days on market. May looks good with 12 lots under contract, hopefully we can secure a few more to at least meet the April sales. Unlike 5 years ago, there’s no shortage of available lot, see all 95 available here. On the residential side of things, there’s also no shortage with 113 options available, many being DR Horton new construction. We have 28 homes currently under contract and sold 27 homes for an average price of $554,672 over a 92 day period.
Team 98 is proud to be in the Top 3 Producing Companies YTD in Mexico Beach and Cape San Blas markets! While proudly maintaining Top Producing Company in North Gulf County. We are beyond grateful to expand our market and continue to help others achieve their real estate goals! THANK YOU for your trust, support, and encouragement!!