Cape San Blas lot sales have risen! In May we closed 12 lots. Five sales were in the new and quickly selling RV development along the C30 corridor. Four sales for Cape San Blas North (one gulf front), 2 on Cape San Blas South (one bay front) and 1 on Indian Pass. The average sales price was $118,792 with 128 days, averages are still down from March but certainly an improvement in the number of units sold. We currently have 22 lots under contract, no need to worry we still have 240 available. May delivered 8 home sales, three each for Cape San Blas North (two gulf front condo’s) and South (one gulf front home), leaving Indian Pass closing the remaining 2 (one gulf front). The average days on market remained at 84 while the average sales price increased to $581,988. We have 14 homes under contract as of now, leaving 95 to choose from.
North Gulf County unlike other markets decreased by 1 lot sales for a total of 4 closings. Two of last month’s sales were on Overtstreet North, 1 each for Wewahitchka and Dalkeith. The average sales price was $17,875 with 220 days on market. Historically speaking this market has a lower price point and a little slower to produce, so Im not surprised by any of these number, just grateful to see them moving! As of now we have 6 lots under contract and 98 remaining. Home sales saw a nice rise from Aprils 3 to 5 in May. Wewahitchka pulled the weight with 3 closings (one river front and one Dead Lakes front) while Howard Creek and Overtsreet North each delivered 1. The average sales price was $115,300 with 107 days on market. Many still under contract from last month, but 15 contracts in this market is a definite plus! Pushing these options aside we are left with 33 available homes.
Port St Joe like North Gulf County is a smaller and slower producing market than the beaches. May closed 3 lots. Two in Oak Grove, one being an 11 acre tract in the soon to be upscale Reserve on St Joesphs Bay subdivision. The 3rd sale was in Highland View. The average sales price was $123,500 with 110 days on market. There are a whopping 27 lots under contract, the bulk being in yet another new subdivision located in the Jones Homestead sub area. There are still 63 lots available in this market. Home sales increased for a total of 5 closings, all in the City of PSJ sub area. The average sales price was $206,180 and 65 days on market. This time last month we had 21 homes under contract and as of now there are 24, as in other markets many have carried over. Lenders are now asking for 45 days to close vs the typical 30 days. Inventory is getting slim with only 35 homes on market.
Mexico Beach is by far our highest producing market in transactions! May closed 15 lots. Eight of which were in the MB sub area, 4 in St Joe Beach, 2 in WindMark Beach and 1 on Overstreet South. The average sales price was $104,693 and 94 days on market. We have an additional 20 lots under contact with 146 available. The residential market closed 12 homes in May. The Mexico Beach sub area lead with 5 sales, St Joe Beach 4 and WindMark Beach 3. My mind was blown when I pulled the report and saw there are 51 homes under contract!! That leaves behind only 49 homes to choose from in our hottest season! The average sales price of $336,264 and 184 days on market.
Its been another busy summer month along the Unforgotten Coast! While many panicked about the economic effects of Covid-19..it appears to have only had small and temporary impacts locally. The reopening’s have been a positive in most aspects, however it has increased our positive Covid cases, we are now at 11 compared to 1 this time last month. The local health officials indicate a couple of these cases are non residents, who are no longer in Gulf County.
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!