Cape San Blas lot sales are still rising with 12 closings in February. C30 Corridor and North Cape San Blas sub areas each delivered six sales, while Indian Pass closed two lots. Between North Cape and Indian Pass we sold three Gulf font lots ranging in price from $460k to $865k. The Gulf front sales boosted our average sales price to $235,916 with 100 days on market. Things will continue to rise in March with 16 lots currently under contract. Listings seemed to have leveled out leaving us 206 to choose from. Home sales saw a significant increase to 10 closings. North Cape San Blas lead the pack with 4 closings, two being Gulf front, South CSB moved three homes, including a Gulf front and estate sized Bay front home. C30 closed two transaction, one being a Gulf front condo. While Indian Pass brought up the rear with one home sale. The average sales price was $665,972 and 227 days on market. There are 11 homes under contract and 90 on market.
North Gulf County lot sales rose by one from January with 7 closings. Six of these sales were in the City of Wewa, 5 being bank owned lots sold at $2000 each. The remaining sale was in the Dalkeith subarea. The bank owned lots killed our averages with a sales price of $5,429 and 526 days on market. Looks as if March will bring another small increase with 8 lots under contract, many of which are for mobile home/land packages. We have a few more options available in this market with a total of 116 lots available. Home sales were much better in February, of the 6 closings, 3 were in City of Wewa, 2 in Wewa sub area with the final being in Howard Creek. The average sales price was $114,750 and 82 days on market. We have a few contracts still lingering from previous months giving is a total of 6 contracts on hand. The North Gulf County market has 42 homes available, I feel we are experiencing a delay in the ‘move in ready’ mobile homes due to many recipients of SHIP funds opting for a new from dealer home rather than a similarly priced existing.
Port St Joe lots sales also still rising with 6 sales in February. There were two sales each in Oak Grove, City of Port St Joe and Highland View. The average sales price was $50,500 and 245 days on market. There are now 9 properties under contract and 46 available. Whether a person is looking for a home site or RV site we have options. Thankfully the residential market has risen with 8 sales in February. Two sales in Highland View with the remaining 6 in City of PSJ sub area. The average sales price was $161,938 and 59 days on market. We have an additional 8 homes under contract as of now, and anticipate more as Spring Break approaches. With new listings we have 46 homes available in PSJ.
Mexico Beach vacant land market is the only one in February who saw a decrease, giving us just 9 lot sales. St Joe Beach closed 4, Mexico Beach 3, and Beacon Hill closed 2 lots, one being Gulf front! The average sales price was $120,772 and 74 days on market. Agents in this market have hustled to bring sales up, there are 16 lots currently under contract. Unlike pre storm we still have a nice variety of lots available, see all 143 here. The residential market however saw a nice rise with 17 closings. Mexico Beach subarea moved 9 homes, St Joe Beach 6, Beacon Hill 2, and WindMark sold one. Home sales are still a mix of damaged and repaired homes with an average sales price of $330,018 and 143 days on market. Mexico Beach is still our highest producer and doesn’t appear to be slowing down, there are currently 29 homes under contract, at least 10 carried over from last month. There are 73 homes available, with DR Horton in WindMark Beach steadily reducing their existing homes trying to make room for the new single level units.
If you have a property that isn’t selling a few things to consider are: pricing, the average sales prices are included in each of these reports to help you understand what each market generally bears. There are always outliers however if you are priced far above the average sales price, please understand its going to take time to find the right buyer. The second thing to consider is how many homes/lots are similar to yours, in many markets we have an influx of the same thing, so buyers must decide which is right for them which often tends to be the lowest priced. The third and final thing to consider is condition, if you have a home/land that is in need of repair/cleanup it makes it harder for a buyer to secure a loan therefore harder for us to move. If you have questions on what could be done to move your property in a more timely manner, please give me a call.
Team 98 has maintained the Top Producing Company in Mexico Beach and North Gulf County markets year to date! Our broker, Zach Childs still holds the title for Top Producing Agent in Mexico Beach, while I hold the title of 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 trust and support!
Prepared By: Miranda Rollins, REALTOR®
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www.mirandarollins.com / www.gulfrealestateblog.com