Cape San Blas closed 5 lots in September. The C30 market closed two of our sales this month, while Cape San Blas North (1 Bay front), Cape San Blas South and Indian Pass each closed one lot. The five brought an average sale price of $145,100 in a 135 day period. We’re hopeful the 9 lots under contract make it to the closing table, as it will be one of the better months we’ve recently experienced. There haven’t been many new listings, leaving 146 options on market. We experienced another drop to only 8 residential sales in September. Cape San Blas North closed 5 homes, our biggest sale was a Gulf front home at $3.5m. Indian Pass and C30 (Bay front) each closed one home. Our number of sales and average sales price dropped to $1,022,475 while the days on market significantly increased to 25. Currently there are 5 homes under contract and 139 for the taking.
North Gulf County delivered 4 land sales last month. Overstreet North brought 3 of these sales with the final being in Dalkeith (sub area mismarked). All of our totals fell this month, average price $41,700 and 73 days on market. We like seeing the drop in days on market, but a drop in average and number of sales is disappointing. Hopefully the 7 lots under contract, will level us back out. Of the 97 lots available, options are plentiful and start as low as $11k. There were only 3 home sales in September, but all nice quality homes in City of Wewa (mismarked subareas) pushed our average sales price above the norm to $256k in 103 day marketing period. October looks to align with the August numbers with 7 homes under contract. AS mentioned before, this is the most budget friendly market, offering 33 homes, starting with a ‘fixer-upper’ at $99k.
Port St Joe closed 2 lots, which is more of a norm. The first sale was an RV friendly lot in Highland View, the second was a mixed use parcel in City of PSJ. The two averaged $192,500 over an 83 day period. Due to the variation and lack of sales compared to last month, the average price was down, but the days on market were as well! There are two more lots under contract and 38 for the taking. PSJ had another nice month, closing 12 homes! One sale was a newer construction home in Jones Homestead with the others in City of PSJ, including two at the new Marina Cottages. October looks healthy with another 14 homes under contract. From new construction to existing homes there are 109 available options in this market.
Mexico Beach as in our other markets, lot sales are down. The beaches closed 6 in September, starting with a couple RV friendly properties on Overstreet South and wrapping up with a a nice canal and Gulf front lot. The average sales price came in at $$187,667 in a 102 day marketing period. Two of our 4 lots under contract are large parcels on CR 386 that were scheduled to close in July. We have 126 lots available, starting at $75k for an RV friendly option on CR 386, up to a $2.8m mixed use lot on Hwy 98 with unobstructed views! The residential side of the beaches market continues to rise with 29 sales. Mexico Beach brought 17 of our sales, including the highest sale in the history of Mexico Beach of $4m on a Gulf front 7 bedroom 5 bath 4490 sq ft home! WindMark Beach closed 9 homes, most of these and those at Mexico Beach were new construction townhomes. Beacon Hill, St Joe Beach and Overstreet South (Canal front) each closed one home. Many of the 30 under contract are new construction. For the first time in some time, we have a reasonable number of options under $300k in this market, see the 189 options here.
Port St Joe has an adorable new Faith based gift shop on Williams Ave, Truth & Grace! Next time you’re in town, check it out! The ‘breakwater’ project to renourish portions of Cape San Blas has finally secured a contract to begin work December 1, this is a HUGE win for owners and visitors of the Cape. Gulf County Commissioners unanimously voted to name the new cut through road at Hwy 98 and C30a after nationally recognized civic leader, Charlie Kirk! As we enjoy the cooler temperatures, there are countless weekend events/festivals right here on the Forgotten Coast!
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!