Cape San Blas lot sales decreased significantly from 12 to only 7 in September. These numbers are very similar to what we saw in 2021. Cape San Blas North (2 Bayfront) closed 4 lots, while Cape San Blas South, C30 and Indian Pass (1 Lagoon front) each closed 1. The average sales price was up to $273,571 with a decrease to 71 days on market. Properties under contract remain high with 20 as of now. This leaves 144 lots to choose from. The Cape San Blas residential market had a small increase with 18 homes sales. Cape San Blas North (1 Bayfront, 4 Gulf front, 1 Lakefront) closed 9 of these sales, Cape San Blas South 7, and C30 (Gulf front) with the final. The average sales price is still down but now lower than we’ve seen in a few months ($999,106) but a positive decrease in days on market (35). We still have a large number of homes under contract (23). There are 46 homes on market.
North Gulf County had a nice spike in sales with 14 lot closings. Both Overstreet North (1 Lakefront) and City of Wewa sub areas closed 4 lots. Howard Creek closed 3 neighboring parcels, Wewa 2 and White City 1. The average sales price was $40,071 and 31 days on market. We have another 14 contracts currently on hand. There are 108 lots on market, starting as low as $11,900. This market has been and still is the lowest priced in our area! The North Gulf County residential market feel by one sale from last month with 7 closings. City of Wewa closed 3 homes, Wewa 2, Dalkeith and Howard Creek each sold a ‘camp’. These sales averaged $144,200 (small drop) and 45 days on market (small increase). There are 10 homes under contract and 22 available. .
Port St Joe as the Cape had a drop with just one land sale in September. This lots was in the City of PSJ and closed at $32k after 16 days on market. There are 2 lots under contract which hopefully will both close as scheduled. There are 22 lots on market, including a few RV approved. Port St Joe Residential sales experience a small decrease with 14 closings in September. Highland View closed one with the remaining 13 closings in the City of PSJ sub area. The average sales price increased again to $388,829 and the days on market also saw a positive decrease to 28. Plenty of homes under contract, see all 22 here. Pushing those out of the way, we still have 51 homes available.
Mexico Beach as North Gulf County had an increase last month with 12 closings. (Probably because Team 98 dominates these markets ?) The Mexico Beach sub area closed 9 of these lots, Overstreet South 2 and WindMark Beach 1. The average sales price was also up to $275,272 as were days on market (73). There are a mere 5 lots under contract and 95 left to choose from. If you play the lottery, 12 is the number! Here are the homes sold in September. WindMark Beach accounted for 1 sale, St Joe Beach 2 and Mexico Beach claimed the remaining 9. These sales averaged a price of $547,608 and spent 51 days on market. Both numbers are decreases from August. Again, clinging to a wing and prayer that the 28 homes under contract make it to the closing table; perhaps we could even add a few from the current 128 still in the inventory.
The market has been leveling, partially due to increased interest rates but also due to the fall/winter season approaching. Historically we always slow down this time of the year. So, many of us will vacation and enjoy the beautiful area we are so fortunate to work in and call home!
Team 98 continues to maintain its Top Producing Company status for Mexico Beach and North Gulf County year to date! Again, I am personally maintaining Top Producing Agent for the month and year to date in North Gulf County! Its your support, encouragement, and faith in us that affords this humbling status! THANK YOU!!