Cape San Blas saw a small increase to 19 lot sales in June. Cape San Blas North as usual lead the way with 8 sales (1 Gulf front), Cape San Blas South closed 5, C30 4, and Indian Pass brought up the rear with 2 Gulf front sales. The average days on market was 56 and the average sales price is back into a more normal range at $289,278. The under contract number of lots in this market is down from May to just 14, leaving an inventory of 95 lots available. The Cape San Blas residential market kept it consistent with another 14 home sales. Cape San Blas North (2 Bay front) and South each closed 5 homes. All but one of the Cape San Blas South sales were in the new Villa del Sol development, that’s sat dormant since the early 2000’s and was recently purchased and revived by TruLand Home Builders. The average sales price was $1,034,307 and 25 days on market. Homes under contract has certainly decreased from May with just 18 in the pending/contingent status but our availability has nearly doubled to 62.
North Gulf County had another astounding month on land sales with 16 closings. Looks like Howard Creek and Overstreet North (1 Intracoastal, 1 Lake front) each closed 4 lots, White City 3, Wewa (1 River front) and the City of each closed 2 and Dalkeith brought up the rear for our final sale. The average sales price rose again to $50,043 and 72 days on market. There are another 16 contracts on hand with 106 lots remaining. North Gulf County residential market numbers have fallen back to much of what is ‘typical’, with 5 home sales. The City of Wewa captured 3 of these transactions, while Overtsreet North and Wewa (1 Lake front) each closed 1. The average sales price in this market also fell back into a ‘normal’ range at $169,400 with 20 days on market. As this time last month we have another 6 homes under contract, with an inventory of 32 homes.
Port St Joe had a great June with 11 lot sales! Nine of the sales were in the City sub area. Jones Homestead closed a restricted 2 acre lot while Oak Grove closed on an RV improved lot. The average sales price was $107,673 and 144 days on market. Things may level back out as we only have 3 contracts on hand. Slim pickings with just 30 lots to choose from. The residential market of Port St Joe fell quite a bit in comparison to May with just 11 sales. All but two of these sales were in the City of PSJ sub area. Our outliers were both mobile homes in Highland View that sold for much higher than any mobile home in this market recently. The average sales price was $353,909 and 33 days on market. Looks to be a booming August with 35 homes under contract, leaving us a mere 36 to choose from.
Mexico Beach also getting back to more of its usual numbers with 14 lot sales. City of Mexico Beach sub area closed 11 lots, Ocean Plantation I think may have had a record breaking month with 6 of these sales being in that subdivision, each one of higher value! St Joe Beach carried the remaining 3 sales. The average sales price in this market has fallen again to $187,879 and 55 days on market. We have 11 lots under contract and 85 left to choose from. Mexico Beach residential sales continue to rise with 24 June closings. Mexico Beach killed it with 10 sales (2 Canal front), St Joe Beach 9 (1 Gulf front), WindMark Beach closed on 5 homes, and the final sale was a nice 5 acre homesite on Overstreet South. The average sales price was $652,022 and 14 days on market. Things are looking good for July with 29 homes under contract, We have 106 homes on market as of now, many being new construction DR Horton homes in the WindMark Beach development, while many others are condos.
I’m asked almost daily what I think is happening with the real estate market, and I typically reply with ‘I wish I knew’. My phone is no longer ringing off the hook and I have much more personal time. Today I decided to look at June reports back to 2018. Oddly enough, the numbers say we aren’t far off base from where we were this time last year, which is overall busier than any previous year researched. After today my reply to that question will be ‘the continual rise in pricing and interest rates has slowed the buyer frenzy. The buyers are there just fewer and further between.’ So to my sellers, if you are in line with recent sales numbers, just be patient your buyer is out there!
Team 98 and your favorite agent (myself LOL) continue to hold positions of Top Producing Company & Agents in the Mexico Beach and North Gulf County markets!! As always, my success is directly related to your trust, confidence, and referrals! THANK YOU for allowing me to do what I love for you!!