MARKET REPORT: March 2019

Cape San Blas lot sales doubled yet again, 14 sales for the month of March.  Not only has this number doubled over the last month but also double over March 2018.  Three of these sales were in the North Cape sub area, 2 on Indian Pass, 5 on South Cape and four along the C30 corridor.  Not much in the way of water front sales last month, but we still averaged $123,365 with 273 days on market.  MLS reports 18 lots under contact, if we can close these within the next week, I think its safe to say April has been on FIRE!!  We’ve also seen no slowdown in lot listings, the Cape market now has 191 vacant lots available.  Finally a nice rise in home sales, March delivered 10 closings for the CSB market.  North Cape and the C30 corridor each delivered 4 sales, while CSB south and Indian Pass brought one each, the home on Indian Pass was Gulf front, only three March’s sales sustained storm damage, most of which has been repaired.  The average sales price was $497,728 with 91 days on market.  Like déjà vu, we have 10 homes under contract.  Between contracts and sales we are left with 56 homes on market.  

North Gulf County experienced a dip in March to only 4 lots sales.  While total transactions are down the average sales price is up to $30k and the days on market dropped significantly to 88.  Three of these sales were in City of Wewa sub area, two being River front with our final in Howard Creek.  Gratefully I had the privilege of selling three of this month’s four lots.  We have another 13 lots under contract, again several neighboring parcels being purchased by one buyer and still under contract from last month.  Plenty of land remaining in this market, 143 pieces to be exact.  The 4 residential sales were equally split between City of Wewa, and White City.  The average sales price was $195k with 104 days on market.  Two of these sales were on very nice homes, the fixer upper and mobile home drew this number down dramatically.  A few of the 9 contacts on hand are carried over from late February, scheduled to close in May.  Leaving behind homes 17 homes.

Port St Joe still stronger than usual in lot sales, March delivered another 8.  One each for Highland View and Jones Homestead, and three each for Oak Grove and City of Port St Joe sub areas.  The average sales price is up quite a bit to $80,013 and decreased days on market to 111.  April may be the hottest month in the last several years if all 20 lots under contract close.  This market is down to only 50 available lots.  March delivered 11 homes sales, all but three require storm repair, and all were in City of PSJ.  The average sales price declined to $169,682 as did days on market (93).  April appears to be even more promising with 26 homes under contract!  We have 33 homes remaining, 5 new apartment listings with existing leases that make for a great investment opportunity. 

Mexico Beach closed 16 lots in March with the most desirable area being Gulf side of Hwy 98.  Eleven sales for the Mexico Beach sub area and 5 in St Joe Beach.   The average sales price is down to $123,365 and days on market are up 235.  April may be our best month for this market as well, with 25 lots under contract.  Many new listings give us 110 lots to choose from.  The residential market only saw a slight dip from 25 home sales to 22.  Of course the bulk of sales were in Mexico Beach, then WindMark Beach and St Joe Beach tied with three sales, Overstreet South delivered two and Beacon Hill brought up the rear with one sale.  The average sales price is back in the Pre Michael realm of $254,882 with 71 days on market.  As always this market is highly sought after which is evident by the additional 21 homes now under contract.  There are now 67 homes available, with many being new construction in WindMark Beach.

Positive progress is still being made in all areas of our communities.  Mexico Beach is seeking volunteers on Saturday June 1 to plant sea oats in order to rebuild the dunes.  Come out if you can 8am CST.

Super proud of our Broker, Zach Childs for finishing March as the Top Producing agent Association wide!  He frequently dominates the Mexico Beach market but to dominate the entire association is absolutely remarkable!  Thanks to Zach’s hard work he was able to push us to being Top Producing Company for the month.  I am grateful to have redeemed my personal position of Top Producing in the North Gulf County market.  We cant thank you all enough for enabling us to do what we love!!        

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