Cape San Blas land sales improved by one in May with 4 sales. Cape San Blas North closed 2 lots, (1 unbuildable Gulf front), with Indian Pass delivering the remaining 2, one being a damaged home, that will likely be demo’d. These sales averaged $120,725 over a 60 day period. As of now, there are 11 lots under contract. Inventory is improving with 101 lots available. Home sales soared with 14 closings. Cape San Blas North (1 Gulf front, 1 Bay front) and c30 (1 Gulf front) each closed 6 homes. Cape San Blas South moved 4 homes while Indian Pass closed 2 Lagoon front homes. These sales averaged $1,099,044 within 43 days on market. As of now only 7 homes under contract, but still ample availability with 51 homes available.
North Gulf County had a slight drop from 9 to 7 land sales in May. Overstreet North and Dalkeith each delivered 2 sales, while City of Wewa, Wewa and Honeyville each delivered 1 sale. Dalkeith and Honeyville sales included lots over 5 acres. Sales averages increased to $49,186 over a 165 day period. May looks to be positive with 12 lots under contract. This market offers 87 lots starting at $12,900. Home sales remained consistent with another 5 closings, 2 sales were in Howard Creek, while Wewa, Dalkeith and Overstreet North each closed one. Those sales delivered an average of $137k over a period of 128 days. There are now 7 homes under contract and 32 available.
Port St Joe lot sales doubled with 4 closings in May. One sale for each of the following sub areas, Highland View, City of PSJ, Oak Grove and Jones Homestead, 2 of the 4 being RV friendly. The average sales price was $130,750 with 97 days on market. As of now, there are 2 lots under contract and 26 to choose from. The residential market had a nice spike with 12 sales. Eleven sales were in the City of PSJ while the remaining was a record sale for the Jones Homestead sub area. The average sales price was $318,825 in a 47 day period. Here are the 18 homes under contract, several being new construction. Here are the 33 available.
Mexico Beach land sales are down only a touch with 11 closings in May. Of the 11 land sales, Mexico Beach closed 5 (1 Canal front), St Joe Beach 3 (1 Gulf front), WindMark Beach, Beacon Hill and Overstreet South (1 Intracoastal front) each closed 1. The sales averaged $246,818 over a 147 day period. We currently have 10 lots under contract . Leaving an even 100 lots on market. The residential side of this market is still moving along nicely with 26 homes sales last month. WindMark Beach’s DR Horton new construction homes accounted for 12 of our sales. Mexico Beach and St Joe Beach (1 Gulf front sold @ $2,650,000) each closed 6 homes, with Beacon Hill bringing up the rear with our final sale. The average sales price was $634,528 with an average of 102 days on market. June appears to be on fire with 40 homes under contract. There are 98 homes on market, starting just under $300k.
The iconic El Governor Resort opened the RV park some time ago however, the resort is nearing the end of construction and now taking reservations. This is a big plus for beach accommodations!
Team 98 has regained our position of Top Producing Company in Mexico Beach and maintained in North Gulf County, while also training in the Top 10 of the Cape San Blas market! We are beyond grateful to continue expanding our market and helping others achieve their real estate goals! THANK YOU for your trust, support, and encouragement!!
Prepared By: Miranda Rollins, REALTOR®
850-527-4343
www.mirandarollins.com / www.gulfrealestateblog.com