Cape San Blas lot sales are still rising! In July we closed 20 lots. The C30 corridor lead the pack with 9 sales, which was a mix of RV lots and homesites. Cape San Blas South sub area closed 5 lots, (2 Bay front and 2 Gulf front), Cape San Blas North closed 4 lots (2 Gulf front), Indian Pass also closed two Gulf front lots. The average sales price was $160,440 with 214 days on market. Our average sales price and DOM increased, but hey why not wait a tad longer in hopes of a higher sales price. Real estate is still hot along the Forgotten Coast with 33 lots under contract in this market alone! We’re moving and shaking but still have a decent lot inventory, see all 209 available here. Homes sales also saw a rise in July with 16 closings! North Cape San Blas once again took the lead with another 8 sales (2 Gulf front, 1 Bay front), South Cape San Blas closed 4 homes (2 Gulf front, 1 Bay front),C30 and Indian Pass each closed two homes (both IP sales were Gulf front). We saw another increase in average sales price ($737,375) and days on market (120). There are a whopping 35 homes under contract, these are big numbers for this market! Not many new listings, check out the remaining 84 here.
North Gulf County also saw a nice spike land sales. July closed 8 lots! The North Overstreet sub area closed 6 deals (4 Creek front), 2 in the exclusive Wetappo subdivision which after sitting stagnant for quite sometime is finally seeing the deserved activity. Howard Creek closed a 3 acre lot and Wewa closed on a lot in another stagnant subdivision of Seven Springs. I believe Wetappo and Seven Springs experience low sales due to the Covenants and Restrictions in place. Most buyers in this market are seeking an RV or mobile home lot. The average sales price and days on market increased to $25,937 and 150 DOM. There are 11 lots under contract one large tract which rumor says is being purchased by the State for conservation. There are 98 lots remaining in this market, made up of restricted and unrestricted properties. Home sales actually fell by one from last month for a total of 6 sales in July. While I cant speak for other agents, I personally have a couple sales that were scheduled to close in July, that were delayed for various reasons. Wewahitchka sub area for the third month on a row pulled the weight with 2 closing while Dalkeith, Howard Creek and Overstreet North (Creek front) each closed one home. The average sales price increased while days on market decreased to $193,400 and 51 DOMs. As in the June report we still have 11 homes under contract and 34 available.
Port St Joe has suddenly caught a fire! In July this market closed 13 lots! Highland View sub area closed 7, this is a popular area for RVs as there are no rental restrictions. The City of Port St Joe closed 4 lots, while Jones Homestead moved the remaining 2. We had a nice spike also in average sales price and a huge decrease in days on market – both positives! The average sales price was $70,866 and 147 days on market. August looks to be another great moth for this market with 28 more lots under contract! There are 47 still available for purchase. In home sales we saw a large decrease yet a more common number for PSJ. The 8 residential sales were comprised of 4 in the City, and 2 each in Highland View and Jones Homestead. The average sales price was $253,671 and 75 days on market. July looks to be just as good for this market with 19 homes under contract and 29 remaining.
Mexico Beach also saw a nice rise in land sales! In July agents closed 23 lots. Mexico Beach sub area closed 11 lots (1 Canal front), St Joe Beach closed 8 (1 Gulf front), Beacon Hill 2, Overstreet South and WindMark Beach each closed one; WindMark Beach being a Gulf front. The average sales price dropped a hair to $135,869 and the days on market increased to 146. There are 44 lots under contract, so hopefully the sales price will remain steady and DOM will decrease. There are still 116 lots to choose from, however many are seeking a place for the RV and those options are extremely scarce. Surprisingly home sales decreased to 28 closings. Not a worrisome number though, as in the PSJ market this more in line with typical movement, just a little shocking compared to all the other numbers. Mexico Beach sub area closed 14 homes (1 Gulf front, 1 Canal front), St Joe Beach closed 7 homes (1 Gulf front), WindMark Beach 5, Beacon Hill ad Overstreet South (1 creek front) each closed one home. The average sales price increased to $318,394 and 146 days on market. Looks like August is off to a great start with another 25 homes under contract. Click here to see the remaining 52 homes available in the Mexico Beach market.
As of Saturday, Gulf County is up to 336 positive COVID-19 cases. This is more than a 100% increase from the 54 this time last month. I still believe much of the increase is a result of free testing in Port St Joe and Wewahitchka however I can’t deny this increase also points to increased visitors to our small community. The City of Port St Joe now requires face masks in all public settings.
Team 98 continues to maintain Top Producing Company in Mexico Beach and North Gulf County markets year to date! Our broker, Zach Childs is holding tight to his title of Top Producing Agent in Mexico Beach, while I gratefully still hold Top Producing Agent in North Gulf County! We couldn’t do this without the trust and support of faithful and loyal customers like yourself! Thank you all for your continued patience, trust and support!
Prepared By: Miranda Rollins, REALTOR®
850-527-4343
www.mirandarollins.com / www.gulfrealestateblog.com