Cape San Blas had 5 lot sales in April. The C30 corridor and Indian Pass (2 Lagoon front) each closed two homes, while Cape San Blas South delivered our final. The average sales price is down a bit at $139,350 as are the days on market (106). May looks to be on the upswing with 7 lots under contract. Available properties continues to climb, see the 138 on market now. The residential side of this market declined by just one sale in April vs March, closing 10 for the month. Cape San Blas North is the most desirable area of this market and proved such with 4 sales (1 Gulf front), Cape San Blas South delivered 3 sales (1 Gulf front), Indian Pass brough 2 closings (1 Gulf front) and our final sale was a nice home in the Water’s Edge Subdivision on C30. The average of these sales was $979,800 in a 73 day marketing period, price and days on market are down. Spring Break felt a little slower this year but not dead. There are currently 7 homes under contract. There’s no shortage of inventory these days, check out the 149 homes available here.
North Gulf County closed 6 lots last month, including a rare gen at $8,750, we haven’t seen prices that low in several years! The City of Wewa and Overstreet North sub areas brought two sales each, while Wewa and Dalkeith delivered the remaining two. These sales averaged $38,625 and an extended list period of 273 days. When I started my real estate career in 2015 this timeline was the norm but in more recent years, we’ve been able to move vacant land within a 6 month period. We have 97 lots to choose from, and a couple more on my desk to list in the next few days. Of the two homes sold in April, one was in The City of Wewa sub area and the second in Wewa sub area. Together, they averaged a sales price of $100k in a 39 day period. As of now, we have 5 homes under contract and 32 available.
Port St Joe closed two lots, one in City of PSJ the other an RV-friendly Bay view lot in Highland View with an average price of $215,250. With a 1 day average marketing time, I know one was unlisted and the other was likely the same or the listing agent had a buyer upon placing on listing. There are currently 6 lots under contract, leaving 52 for the taking. PSJ home sales rose by one, and a good one! The Overlook in Highland View closed a 5 bedroom unit at $675k, its been a while since we’ve seen one of these newly constructed condos sale. The remaining 8 sales were in City of Port St Joe sub area, more than ½ located in the short term rental district, which leads me to believe the bulk of current buyers are inventors vs primary home owners. After 100 days on market the average sales price was $433,100. There are a whopping 27 homes under contract, the bulk being DR Horton new construction. Many of these are outside short term rental districts, so either primary or secondary home buyers. Even with the large number of homes under contract, there is still a large inventory of 118 homes available.
Mexico Beach land sales feel again with just 4 April closings. Two sales each for Mexico Beach and WindMark Beach. The four averaged a sales price of $$232,750 in a 91 day period. As in other markets, things are on the rise with 10 lots under contract. Take your pick from the 129 available lots. This market only closed 9 units last month for an average of $853,778 in a 117 day period. Five of the sales were in WindMark Beach, one custom build in Phase 1, the other DR Horton resells. May is on the rebound with 29 homes under contract, as in PSJ, almost ½ of these contracts are for DR Horton homes. Its hard to compete with the low prices and interest rates offered on these new construction homes. As in other markets, plenty of inventory with 212 homes available, starting at $279k.
Rumors have been confirmed, construction of the iconic Toucans in Mexico Beach is back underway! My favorite burger spot, Richey’s Roadhouse, recently relocated his food truck from the Gulf/Bay County line and opened a brick and mortar in Port St Joe, If you haven’t had a Richey’s burger, you’re missing out, go see him at 405 Baltzell Ave! Reid Ave has a few new stores and a new event venue ‘The Hall by Quinn & Co’, which is an exciting addition to our community! Wewa has quite a bit of action, including the opening of Point Break Pizza Company, The Hitch Package Store & Bar as well as Gilligan’s Sport Bar & Package Store. We so greatly appreciate each of these businesses taking the risk on our precious community.
Team 98 continues to maintain Top Brokerage status in the Mexico Beach and North Gulf County markets! THANK YOU for allowing us the privilege of helping fulfill all your real estate dreams and goals!