Cape San Blas is starting Spring with a bang! This market closed 21 lots in February. Cape San Blas North closed 12 of these lots (4 Gulf front & 4 Bay front), C30 closed 5 lots, while Indian Pass and Cape San Blas South closed the remaining two. The average days on market was 75 with an average sales price of $294,090. We seem to be positioned well for March with 27 lots under contract leaving 72 on market. Residential sales saw a mild decline with just 6 sales in February. Although, sales north of $1m mark are becoming more and more common in this market. The ever so popular Cape San Blas North closed on 3 homes (1 Gulf front), C30 closed 2 Gulf front homes and Cape San Blas closed one. The average sales price was $1,008,271 with 54 days on market. As usual things heat up tremendously for March with 44 homes under contract! Inventory continues to be an issue with only 15 homes on market.
North Gulf County land sales didn’t see the large increase like other markets, but did remain fairly consistent with last month, bringing 10 closings. Overstreet North carried the bulk with 5 closing (3 waterfront), Wewa 2, while City of Wewa (1 Riverfront), Howard Creek and White City each closed one lot. The average sales price was $38,250 and 144 days on market. Things are heating up for March with 21 lots under contract. Plenty of lots (118) remaining in this market with a variety of intended use options. The North Gulf County residential market maintained its home sales with another 6 closings. This market is becoming a more popular option for those who want to be in Gulf County but need to be under $300k. City of Wewa closed 2 of these homes while, Wewa, Overstreet North, Dalkeith and White City each closed one. The average sales price also remained steady at $158,833 and 78 days on market. We currently have 11 homes under contract. There are now 30 homes available.
Port St Joe land sales increased to 6, which is a rise over previous months. Three sales for City of PSJ, Highland View 2, and Jones Homestead 1. The average sales price was $138,333 with 89 days on market. March looks promising for this market as well with 11 lots currently under contract and a mere 19 available. Port St Joe residential market doubled their sales over January with 8 closing! City of PSJ closed 5, Jones Homestead 2 and Highland View 1. The average sales price was $260,800 and 60 days on market. March looks good for PSJ with 24 homes under contract, which leaves 28 home remaining. TruLand Homes is expected to start two new phases of new homes in the coming months.
Mexico Beach shockingly only closed 8 lots in February. Mexico Beach sub area closed 5 lots (3 Gulf front), St Joe Beach 2, and Overstreet South accounted for our final. These sales averaged a price of $444,500 with 113 days on market. February didn’t pan out as anticipated but hopefully everything will shake loose in March with the 33 under contract. Lots in this market are becoming scarce and with rising prices, see all 34 remaining. Mexico Beach homes sales rose with 18 closings in February vs 15 in January. Mexico Beach lead the pack with 8 sales (2 canal front), WindMark Beach’s popular DR Horton homes accounted for 5 sales, Beacon Hill 3 (1 Gulf front) and St Joe Beach finished us off with 2 sales (1 Gulf front). The average sales price was $662,978 and 60 days on market. We have 36 homes currently under contract, and 28 to choose from.
Driftwood Inn in Mexico Beach is still moving forward as is residential construction. The SunStop Gas Station on the western outskirts of town is starting to take shape. Also in that area St Joe Company is pushing forward with the development of 32 lots of which they will only sell to a builder(s). They have also received approval for 128 townhomes near the boat ramp. Taco Bell in PSJ is open for business! The Marina is still aiming to start taking boats this summer.
Team 98 was able to maintain Top Producing Brokerage in the North Gulf County market, as was I able to maintain Top Producing Agent in that market!! I wouldn’t be able to do it without all of you!! THANK YOU for allowing me to do what I love!!