Cape San Blas sales dropped a touch with 8 closings in October. Cape San Blas South accounted for 3 sales, Cape San Blas South and C30 each produced 2 sales while Indian Pass delivered a Gulf front sale as our final. These sales averaged $192,187 over a 105 day period. The average sales price is down but the days on market remained consistent. We have 11 lots under contract as of now. Inventory also remains consistent with 91 lots available. Residential sales remained consistent with 6 sales. Cape San Blas North (1 Gulf front) and South each closed 2 homes, while C30 and Indian Pass delivered our remaining 2. Indian Pass was our heavy hitter last month delivering a $2.1m sale of an Estate home more recently known as ‘The Grove’ on the Lagoon. These sales averged $978,750 in a 35 day period. November is off to a good start with 10 homes under contract. If your heart is in this market, fall in love with one of the 75 homes still available.
North Gulf County land sales are back in line with usual numbers. October closed 7 lots. Wewahitchka and City of each closed 2 sales, while Overstreet North, Dalkeith and Howard Creek each delivered 1 sale. The average sales price also feel back to $46,286 with a consistent average of 101 days on market. November could be more promising with 15 lots under contract. We still have a strong inventory of 86 lots available, including restricted and unrestricted. Residential sales for this market are up again with 8 closings in October. City of Wewa once again delivered 4 sales, while Wewa, Dalkeith, Overstreet North and Howard Creek each closed one sale. The average sales price was $189,675 in a mere As of now, this market has 5 homes under contract and 39 to choose from.
Port St Joe closed 2 lots in October. Both sales were in the City of PSJ sub area. A nice Bay view lot and a 5 acre tract consisting of 38 lots cleared and ready to develop. The 5 acre tract closed at $2,386,400 therefore boosting our average sales price ($1,374,733) to well above our average. These sales averaged 79 days on market. There are 3 lots currently under contract and an assortment of options in the 35 lots on market. Home sales in PSJ remained fairly consistent with 8 closings. The City of PSJ delivered 6 sales, one being an unusual sale of a 5 plex. Highland View delivered 2 sales, and Oak Grove 1. These sales averaged $378,544 in a 45 day period. This market will see a nice boom in residential sales if all 30 under contract close in November. The bulk of these contracts are on new constructions units at Arrazzo, The Overlook and DR Hortons recently acquired Cove at Palmetto Bluff subdivision. There are 54 homes on market, comprised of existing homes and new construction.
Mexico Beach land sales saw slight rise, with 8 closings. Mexico Beach delivered 6 sales, while Beacon Hill and WindMark Beach delivered the remaining 2. These sales averaged 140 days on market at a sales price of $202,375. The 22 lots under contract are a bit more of the norm for this market. Don’t be dismayed, we still have 90 lots for the taking. The residential market continues to soar with 22 sales in October. Mexico Beach sub area lead the way last month with 9 sales, including two Gulf front homes selling at $2.2m and $3.5m! St Joe Beach closed 7 homes, while WindMark Beach closed 6, one being a Gulf View home in Phase 1 at $1,175,000. The large sales pushed the average sales price of this market up to $791,192 over a 73 day span. The Beaches market appears to be holding strong with another 23 homes under contract. As in other markets, the inventory is strong with 100 homes to choose from.
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