Cape San Blas rose to 14 lot sales in October. Again the C30 market took the lead with 7 sales in the Colors Way RV friendly development. CSB North closed 5 lots two being Gulf front, the remaining two sales were on Cape San Blas South with one Bay front. With an overall average price of $167,504 and 199 days on market. November appears to be in line with previous months having 12 lots currently under contract. We’re listing faster than we can sell with 210 lots to choose from. Homes sales took a hard hit compared to previous months with only 4 sales in October. While the number of sales was down the sales price was up for an average of $831,500 and 62 days on market . All of these sales were at Cape San Blas North, two being Gulf front and one Bay front. It appears not all of last months contacts closed as there are still 12 homes pending. This leaves 72 homes on market.
North Gulf County had a refreshing rise to 9 lot sales in October. Four in the Oak Ridge Village subdivision which shows in the Wewa sub area but is truly in the City of Wewa, the four others were in the Wewahitchka sub area with the final sale in Overstreet North. The averages sales price was $12,750 and 321 days on market. There are currently 6 lots under contract. Not as many new listings, here are the 123 available as of now. The residential market held steady for the third month in a row with only 2 home sales, both in the Wewahitchka sub area. One of these was more of a lot sale and is now being used as a car lot. The average sales price was $87,500 with 24 days on market. We are hopeful all 6 under contract will close to make this one of the better months we’ve seen in a while. We are steady adding homes to the inventory with 44 available, and a few new listings scheduled to go live this week.
Port St Joe maintained its previous 5 lots sales, three in Oak Grove and one each in the City and Jones Homestead sub areas. These lots brought an average sales price of $47k and 371 days on market. Five may just be the magic number for PSJ as that’s also how many lots are currently under contract. The listings are plentiful, we are now up to 54 lots to choose from in Port St Joe, with only 6 remaining in the Oak Grove RV friendly development. Once these are gone I look for values in this sub area to rise. Residential sales dropped to only 4 in October but delivered a higher average sales price of $205k and 82 days on market. Three sales were in the City of PSJ and the final was a townhome in Jones Homestead -and under contract in only 4 days! We have 6 homes now under contract and 41 remaining on market.
Mexico Beach had a very mild decrease with 15 lot sales in October. The Mexico Beach sub area lead the pack with 9 closings, St Joe Beach 4, WindMark and Overstreet South each closed one. Of these sales, 5 were Gulf front. The average sales price was $147,997 and 152 days on market. As in some of the other markets we are hopeful to put pen to paper on a few more lots considering we only have 13 contracts on hand. There are still 124 lots available. The residential market rose again with 16 sales last month. Mexico Beach closed 9 of these homes, DR Horton closed 5 in WindMark Beach, while St Joe Beach and Beacon Hill each closed one. The average sales price was $316,119 and 72 days on market. Looking at the numbers it appears like in the North Gulf County market a few contracts have lingered from last month with 22 currently on hand. Have no fear, there are still 85 homes to choose from with new listings popping up each week.
The only exciting political news this month was the issuing of SHIP funds. These are government dollars issued annually to low to moderately low-income families for the assistance of purchasing or repairing a home. This year additional funds will be disbursed in conjunction with Hurricane Michael recovery efforts.
Team 98 is holding tight to our ranking of Top Producing Office year to date amongst the Association. We gratefully have also held our ranking of Top Producing Company (and agent) positions in the Mexico Beach and North Gulf County markets for the month and year to date! Thank you for your continued trust and support in allowing us to do what we love.