MARKET REPORT: December 2019

Cape San Blas lot sales this December compared to last is down quite a bit from 10 sales to only 4.  Three of these sales were on North Cape San Blas, two being Gulf front, while our third sale was in the subarea C30A.  Average sale price was $284,685 with 284 days on the market.  As of now we’re looking for those sales to double with 8 lots under contract.  We have 163 lots available.  December homes sales were down only by one from last year.  North CSB and C30A subarea each delivered two sales, with South CSB bringing the final for this month’s 5 home sales.  Appears a few were free of Hurricane damage.  The average sales price was $579,899 and 231 days on market.  There are 6 homes under contract and 55 to choose from.   In this market, we’re not seeing many reductions, rather sellers making repairs and continuing at pre-storm prices. 

North Gulf County lot sales saw a significant decrease compared to last year’s 9.  This December only brought 3 lot sales but are in line with post Hurricane sales.  I was fortunate to assist in two of these sales, both were to families displaced by the storm.  One sale each for the sub areas of Wewahitchka, City of Wewa and White City.  The average sale price was $12,333 and 120 days on market.  January aims to kick 2019 off to a good start with 13 lots under contract.  There are still 160 to choose from.  I love the diversity this market offers.  You can find property of any size in a variety of neighborhoods with and without water front options.  I was able to pull together the only home sales this month to another displaced family for a price of $107k and 117 days on market, located in City of Wewa sub area.  Just as lots, homes sales look promising for January with 9 homes under contract, a couple of these have lingered waiting for post storm repairs to be completed.  Most of the buyers I’m working with lost their home or have decided its simply time to be a homeowner.   We have 35 homes remaining to choose from, unfortunately not many that are loan worthy and this market is not seeing an influx of cash buyers.    

Port St Joe lot sales saw an increase over last year with 6 sales.  One in the City of PSJ subarea and five in Jones Homestead, four being in the new 2-acre plot development of Coastal Plantation.  In addition to the rarity of obtaining acreage in this market, the Jones Homestead subarea was unaffected by Hurricane Michael.  The average sales price was $50,250 and 147 days on market.  PSJ market has 8 lots under contract, many attributed to folks who have lost their homes and opted to start from scratch.  If building is what you have your sights on, check out the 71 lots available.  December closed 11 homes, another great rise over last year’s numbers.  Most of these sales were damaged homes selling at a reduced price.  Ten of these sales were in the City of PSJ subarea with one apartment sold in Jones Homestead.  The average sales price was $158,500 with 92 days on market.  We have 14 homes under contract, most with minimal to no damage.  This leaves 33 homes to choose from, a with few undamaged. 

Mexico Beach market closed 4 lots in December, one Gulf front made up the two sales in St Joe Beach subarea, while Mexico Beach and South Overstreet account for the remaining two.  The average sales price was $151,375 with 339 days on market.  Lot sales are heating up judging by the calls and 11 under contract. Several of these were homesites with great proximity to the beach.  We have 81 lots available now, many much closer to the beach than what was attainable prior to the storm.  Residential sales are still low for this market, but agents pulled off 6 sales in December.  Split 50/50 with damages.  WindMark and St Joe Beach each brought two sales, Beacon Hill and Mexico Beach each delivered one.  The average sales price was $338,515 with 96 days on market.  Judging by the 16 homes under contract it appears this market is heating back up!!  There are 57 homes still on the market.  According to Mexico Beach’s Mayor, Al Cathey, the City is on track to publish planning and zoning revisions January 10th, so many are at a standstill waiting to see their rebuild options. 

Now, just shy of 90 days after Michael’s arrival, we are still moving forward.  Debris trucks are still working overtime to clean up, all roads are now passable, and business are steadily reopening.  As I show property many are in shock of the ‘mess’ still to be cleaned up.  We have overcome much of the ‘communities’ clean up efforts, its now on the individual property owners to decide what they will do going forward.  While this storm brought much devastation, it will also bring a ‘fresh start’ for many!

It is with much appreciation and honor that I announce 98 Real Estate Group finished the year as Top Producing Company in the Mexico Beach and North Gulf County markets!  We closed 271 transactions for a total sales volume of $50,379,564, also making us the #2 company Association wide!!  Personally, I was fortunate enough to finish the year as Top Producing Agent in the North Gulf County market, now two years running!!  I closed 70 transactions for a total volume of $4,929,440.  I cannot express enough gratitude to each of you for enabling me to succeed at what I love!!    

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