Cape San Blas vacant land sales increased again (7), which is to be expected as many of our August closings are related to July shoppers. Cape San Blas North delivered 3 sales (2 Bay front), Cape San Blas South 2, C30 and Indian Pass (Lagoon front) each closed 1. These sales averaged 76 days on market at an average price of $214,129. There are currently 6 lots under contract, and 128 available. Homes sales surprisingly fell in August with a mere 3 closings. Cape San Blas delivered two sales (1 Gulf front, 1 Bay front) while Cape San Blas delivered the third and final. The average sales price of these units was $1,266,667 in 97 days. Contrary to August, September is off to a good start with 11 homes under contract. With 135 homes available, surely there’s something for every Cape lover!
North Gulf County closed 6 lots in August. Overtreet North and Dalkeith each closed 2 sales. The two Dalkeith sales were of 13+ acre tracts. While Wewa and White City each closed 1. These sales averaged $107,050 in a 46 day period. As of now, we have 11 contracts on hand and 92 lots to choose from. Six was a magic number, as we also closed that many homes! Wewa delivered 4 sales, while the City, Overstreet North and Howard Creek each delivered 1. These sales averaged $165,550 in a 79 day period. We have 7 more homes under contract and 31 for the taking.
Port St Joe land sales doubled with 6 closings. City of PSJ sub area moved 4 lots while Jones Homestead moved 2 RV friendly lots. The average sales price was $205k in a 39 day marketing period. There are 3 lots under contract and 35 on market. The PSJ home market also increased with 13 sales. Oak Grove closed our low sale at $200k while the remaining 12 were in the City sub area. These homes averaged a price of $365,390 in a 98 day period. Whoa, 19 homes under contract, including several on the higher end for this market! There are still 89 homes available, comprised of existing and new construction.
Mexico Beach land sales are still below average, with just 3 closings in August. Two in Mexico Beach and a nearly 7 acre tract in Overstreet South. These sales delivered an average sales price of $156,667 in an 84 day period. September looks better with 8 lots under contract, leaving behind a plentiful inventory of 112 lots. This market closed 22 homes, Mexico Beach delivered 10 of these sales, including a couple of Salt Creek Townhomes, WindMark Beach closed 9 homes, St Joe Beach 2 (1 Gulf front), and Beacon Hill delivered the final sale of August. After 99 days on market these sales averaged a price of $607,727. The $2.9m Gulf front home boosted that average quite a bit! As in other markets, September looks good with 31 homes under contract. Like the Cape, no shortage of options with 167 homes available.
We are still adjusting to the new NAR regulations of having buyers sign showing agreements and commissions no longer displayed on the MLS but we are a resilient group of professionals navigating this new business practice while continuing to represent our buyers and sellers to help achieve everyone’s real estate goals!
Team 98 continues to be the Top Producing Brokerage for the Mexico Beach and North Gulf County markets! Thank you for continuing to trust our team to make your dreams a reality!