Cape San Blas vacant land sales increased by two from June with 4 closings. These sales consisted of two more RV lot sales in the C30 corridor, a lot on South Cape San Blas and a nice Bay front on Cape San Blas North. The 8 lots under contract is certainly stronger than where we were this time last month. There are 115 lots available. Home sales in July weren’t as plentiful but doubled from June, with 6 July closings. Cape San Blas dominated with 4 sales including a Bayfront. C30 delivered two sales, one new construction and the other Gulf front. The average sales price was $1,015,583 over a 100 day period. Of the 8 homes under contract, ½ of them are over $1m. The 146 homes on the market range from townhomes to condos to Gulf and Bayfront.
North Gulf County closed 5 lots in July, a nice increase from the one sale in July. City of Wewa sub area delivered two sales, including a 15 acre tract. Overstreet North delivered 3 sales, including a Creekfront lot and a partially improved lot. The average sales price was $73,400 with a 162 day marketing period. July appears to remain consistent with 6 lots under contract. North Gulf County is the most budget friendly and flexible market in our area, offering lots (101) as low as $12,900. Home sales increased by one, with 3 July sales, one in Wewa, one in City of Wewa the other in the North Overstreet sub area. These sales averaged $143,333 in a mere 20 days, that may be record market time for this market! Seems like de ja vu, as in June we have another 7 homes under contract. Check out the 30 available homes in this link.
Port St Joe land sales increased to 3 closings in July. Two of the three were RV friendly lots in Highland View. The third sale was a 44 acre tract in City of PSJ sub area, purchased by DR Horton with anticipation of another community. Due to the acreage sale the average sales price is a bit stronger than usual at $673,333 in a 31 day period, our days on market were slightly less as the 44 acres was not on market, rather what we call a ‘sold only’ listing. Here are the two lots currently under contract. Here are the 38 lots available, still a nice mix of options available. The residential market closed 12 homes, all minus 3 were new or newer construction, this is making things hard for our existing homes. All of these sales minus one in Jones Homestead were in the City of PSJ sub area. The average sales price was $407,986 in a 66 day period. We have 21 homes under contract, again the majority being new construction. We are left with 83 homes on market, affording ample options for a prospective buyer but not always a positive for a seller.
Mexico Beach land sales increased by one with a total of 4 July closings. St Joe Beach delivered 3 sales, while the 4th was an 18 acre tract on Overstreet South. The average sales price was $237k over an 87 day period. We have 8 lots under contract, including 2 more large Overstreet tracts! Of the 106 lots available, there are ample options one could explore regarding development/use. Home sales saw a huge boost in July with 25 closings. Mexico Beach closed 11 of these homes, with only 1 condo in the mix. WindMark Beach delivered 7 sales, St Joe Beach, 6 and one closing for Beacon Hill. Unlike the PSJ market, most of these were existing homes! The average sales price was $465,308 in a 106 day marketing period. We are on tract for a nice August with 34 homes under contract. With all the new construction, there is no shortage of home options available, see all 164 here.
As a result of the National Association of Realtors recent Lawsuit Settlement, effective Saturday, we are required to have all buyers sign an exclusive agent agreement prior to viewing homes acknowledging they may be responsible for buyers agent commissions. Since the beginning of time, it’s been a standard that sellers pay a total commission to the listing agent, of which is split with a buyers agent. We are hoping that part of the business doesn’t change, as it could greatly hinder many buyers and slow showings for sellers.
On a more positive note, Scallop Season Opens in Gulf County this Friday, August 16, make plans to indulge before it closes Tuesday, September 24!
Team 98 continues to be the Top Producing Brokerage for the Mexico Beach and North Gulf County markets! Its your continued trust and support that makes this happen! THANK YOU for allowing us to do what we love!!