Cape San Blas closed 4 lots in October. Indian Pass accounted for two of these sales, while C30 and Cape San Blas South each closed one lot. These sales averaged a price of $337,250 in a 93 day period. A few noted in last month’s under contract report still haven’t closed, so we have 12 lots now in that position. This market is still carrying 146 available lots. October delivered 5 home sales, two each on Indian Pass and Cape San Blas South, while C30 closed a Gulf front home. Our average sales price was $841k in a 126 day period. Currently, there are 11 homes under contract with closing dates as early as tomorrow. As low as $220k, you can pick up a project property in this market of 131 available homes.
North Gulf County delivered 7 land sales last month. Once again, Overstreet North brought 3 of these sales (1 Creek front). Wewa, Dalkeith (mismarked), Howard Creek and White City all closed one transaction. Our average sales price came in at $79,857 with a decreased marketing time of just 57 days. We have a mere 2 lots under contract with 97 to choose from. Agents delivered 5 sales in October, ranging from a $75k fixer upper in the City of Wewa (mismarked) to a acreage home in Dalkeith at $389k. City of Wewa also closed two other homes, and our final sale came from a unique Howard Creek property. The combination kept our average sales price north of $200k ($224,400), the days on market were in line with last month at 105. We have 6 more homes under contract, and the 34 on market offer a wide selection and variety!
Port St Joe’s land division had a nice month! While only 4 lots closed, they were all quality! City of PSJ moved a nice Hwy 98 Bay view lot, Oak Grove closed an improved RV lot with a finished living area, Highland View closed an improved commercial lot and Jones Homestead moved 21 ready to build lots. These sales delivered a whopping average of $836,250 with a 166 marketing period. As of now, there is one lot under contract and 35 available. The City of Port St Joe sub area delivered 10 of last months home sales, while Highland View and Jones Homestead closed the remaining two. These 12 sales, averaged $365,142 over 102 days. We have 15 more homes under contract and 97 for consideration.
Mexico Beach closed one lot in October, at St Joe Beach for a price of $149k in 72 day period. We have 8 lots under contract and 119 available. Unlike the vacant land market, the residential market continues to do well, much thanks to the new construction and hard to resist financing options offered by DR Horton. The new Salt Creek Townhomes accounted for the bulk of the 14 homes sold in the Mexico Beach sub area, as with the 8 closings in WindMark Beach. St Joe Beach closed two homes, while Overstreet South delivered our 25th sale on a 2 acre parcel with a Park Model home. Combined these sales averaged $545,079 over an average 86 day period. There are another 25 residential units under contract, leaving 196 available options.
The data is clear, we’ve moved from a sellers market to a buyers market. Most of this year, we’ve seen more properties being listed and reduced than those going under contract and sold. If you are ready to move into the sold category, its time to closely examine price, condition and location.
Team 98 continues to maintain Top Brokerage status in the Mexico Beach and North Gulf County markets! THANK YOU for allowing us the privilege of helping fulfill all your real estate dreams and goals! THANK YOU TO OUR VETERANS FOR YOUR SERVICE, DEDICATION AND SACRIFICES FOR OUR FREEDOM AND THIS LAND WE LOVE!