Cape San Blas has a nice uptick to 11 lot sales in March. C30, Indian Pass and Cape San Blas South each brought 3 sales, with at least two in each sub area being waterfront. These sales averaged a price of $208,818 in a 168 period. I’m hoping Spring Break adds a few more to the list, as we only have 4 lots currently under contract. The Cape is our highest priced market, so the opportunity to pick up a lot as low as $61k is quite impressive. Check out the full inventory here. Cape San Blas home sales dropped to 8 in March, vs February’s 13. Cape San Blas North delivered 5sales, Indian Pass closed 2 and Cape San Blas delivered the final sale. These sales averaged a price of $863,925, which is also a decrease, but we didn’t close any waterfront home last month. The days on market dropped to 160 vs 230. As of now, we have 12 homes under contract with 129 on market.
North Gulf County lot sales more than doubled in March, with 13 closings. Overstreet North closed 4 lots, White City and Howard Creek each closed 3 lots, Wewa two and Dalkeith closed a nearly 5 acre parcel at $72,500. The average sales price almost ½ of last month at $44,731 over a 178 day marketing period. We have 8 lots under contract and 65 available options. The City of Wewa delivered two of our 8 sales in March, while Dalkeith, Howard Creek and Wewa (riverfront) each closed a home. The average sales price was 198,360 in a 126 day period. Eight seems to be a magic number, as that’s the number of contracts on hand. There are still 34 homes available in this market, as low as $114k.
Port St Joe had 3 land sales in March, all in the City sub area, but one that stands out tremendously; a 15 parcel tract that closed at $1,237,500, which is undoubtedly an upcoming subdivision.This market usually has the lowest number of tractions, which keeps the 4 lots under contract in line historically. If this is the place you want to build your vacation or forever home, check out the remaining 34 lots. Sales are climbing in PSJ, with 19 closings in March. Nine of which were new construction, including two sales at the Marina Cottages. With those two, the City of Port St Joe closed 14 homes, Jomes Homestead closed 3 DR Horton new construction homes, while Highland View and Oak Grove each delivered one sale. All 19 sales averaged 432,674 over a 133 day marketing period. There are 14 more homes under contract, leaving 107 to choose from.
Mexico Beach: Of the 6 sales in this market, two of the 4 in the Mexico Beach sub area were waterfront, while St Joe Beach delivered the other two sales. There are 11 1lots under contract and 125 on market.
A slight increase to 19 sales in this market for March. Mexico Beach brought the heat with 17 of the 23 sales. Overall, this market closed 10 new construction homes, most being DR Horton products. St Joe Beach closed 4 homes, while WindMark Beach and Beacon Hill delivered one a piece. The average sales price was $517,446 in a 113 day period. We’re forecasting a good April for this market with 27 homes under contract. Even with this type of movement, the options are still plentiful with 235 homes available.
Not sure if I mentioned in a prior report, but Mexico Beach has a new dine-in option; the Beach Bear, the menu focuses on pizza but has offerings of dips, chicken, tacos and seafood! Check em out next time you’re in town! Progress on the Mexico Beach Market grocery is well underway, and Toucans continues to chug along. Its Spring Break, our beaches and restaurants no longer give the appearance of a ‘Sleepy Beach Town’, so if you’re here in the next two weeks, be prepared for slower traffic and longer wait times at local restaurants.
As always, the team at 98 Real Estate and I are grateful for your trust and support, allowing us to dominate Mexico Beach and North Gulf County real estate markets.