Cape San Blas closed 6 lots in March! The C30 corridor carried the weight last month with 3 of our sales (1 Lagoon front), Cape San Blas North delivered two sales and Indian Pass closed a Lagoon front lot. These sales averaged $225,417 in a 145 day period. Spring Break isn’t what we hoped for, but we have 8 lots under contract, leaving a plethora of 137 lots available. The Cape market delivered 11 sales! Cape San Blas North delivered 4 sales (2 Bay front), C30 3 sales (1 Gulf front), while C30 each delivered two sales, including a Gulf front in each sub area. The waterfront sales pushed the average sales price in this market back up to $1,247,127 and the days on market down to 107. The residential market certainly looks better than the land market with 13 more homes under contract. Inventory is still plentiful with 142 homes to choose from.
North Gulf County had a solid month with 10 land sales. Six of these sales were in the Seven Springs Subdivision of Wewa, purchased by an investor who plans to build spec homes. Overtreet North delivered a creek front sale, large acreage tract and another sale in Wetappo Preserve. These sales averaged $68k in a 122 day period. There are 7 lots under contract. Take your pick of the 92 remaining. The City of Wewa delivered three of our home sales, with the final being a Creek front home in Overtstreet North. The four averaged a price of $173,625 with an average of 106 days on market. There are 4 more homes under contract. North Gulf County is our most budget friendly market, and has no new construction, so inventory is more limited than our other markets but still has 31 homes to choose from.
Port St Joe closed a lot for $62k in a 125 day period. There are 4 lot under contract and 44 on market, including a couple Bay front gems! Another 8 homes sold last month, all in the City of PSJ sub area, with an average sales price of $26,913 in a 72 day period. The bulk of our 22 contracts on hand are DR Horton new construction products, the same could be said of the 130 homes on market.
Mexico Beach land sales feel significantly from February with only 5 March sales. Mexico Beach delivered a stunning Gulf front sale and a Canal View lot, while Overstreet South delivered two sales, and WindMark Beach brought our final. The average sales price was $455k with a 120 day marketing period. Currently, there are 6 lots under contract and 119 remaining. The residential market delivered 8 sales, 4 in the Mexico Beach market (1 Canal front), and two each in WindMark Beach and St Joe Beach. The average sales price was $852,750 in a 50 day period. There are 11 homes under contract, and 195 available.
We’ve known for sometime but its finally public knowledge that the Duren family of Piggly Wiggly in Port St Joe has purchased land and will soon break ground on a grocery store in Mexico Beach! This is a huge win, as we’ve not had a grocery store since the destruction of Gulf Foods by Hurricane Michael in 2018. Rumors have it that construction of Toucans will soon resume! The new Beach Planet souvenir shop is now open, but don’t forget to also visit Tortuga Moon that’s been serving up all your MB goodies the last few years!
As Easter approaches there are Community Events in Port St Joe and Wewa, stay abreast to all community functions at visitgulf.com and mexicobeach.com
Team 98 is back on top in the Mexico Beach and North Gulf County market! THANK YOU for allowing us the privilege of helping fulfill all your real estate dreams and goals!