Cape San Blas closed 6 lots in May. C30 accounted for half of those with one Lagon front sale, Cape San Blas North closed 2 lots and Indian Pass delivered our final sale. With only one waterfront sale our average sales price dropped to $188,083, the days on market have returned a more norm of 123. Lot sales are on the struggle bus these days with only 3 more under contract, and an inventory of 139. Of the 10 homes sales in May, 7 were Gulf front! Cape San Blas North, always the most desirable due to water color and clarity brought 7 sales (4 Gulf front), while Cape San Blas South, Indian Pass and C30 each brought a Gulf front sale. The average price was $1,483,900 over an 82 day marketing period. There are an additional 13 homes under contract, leaving 147 homes available, with several townhome options starting under $400k.
North Gulf County lot sales are back in line with 6 May closings. Honeyville closed 7 larger parcels, Overstreet North closed two lot, while the City of Wewa and Wewa markets each closed one lot. The average sales price is a bit high ($85,264) due to several acreage sales, and the days are market averaged 44. Appears North Gulf County has the lead on all of our other markets in the land division, with 13 lots under contract, with plenty for the taking (74). Sales remain consistent in this market, with another 5 homes sales in May. White City delivered one home sale, while the remainder were in the Wewahitchka sub area. The average sales price remains north of $200k at $234k last month in an average of 112 days on market. We have 5 more homes under contract. We have 37 homes to choose from in this market.
Port St Joe lot sales were on the rise, with 5 closings. Three of these sales were in the City of PSJ, one in Jones Homestead, but the highest and most intriguing was a 4+ acre parcel in Oak Grove. This sale pushed our average sales price to $156,300 and being an ‘off market’ sale, it also brought the days on market down to 94. The two properties under contract are in line with typical activity in this market. Our current inventory is comprised of 26 lots. May was much quieter than April, with only 8 sales, half being new construction. The average sales price was $365,150 over a 139 day period. Contrary to what we saw in May, things seems to be in full swing for June with 21 homes currently under contract. with quite a few being new construction under $350k, this makes it challenging for older homes to pull higher price points, without having a truly ‘stand out’ feature. For those still shopping, check out the 98 homes available.
Mexico Beach landed 6 lot sales in May. Mexico Beach brought the weight with 6 sales, St Joe Beach 3, Beacon Hill brought the final. Combined these sales averaged a price of $212,550 in a 150 day marketing period. We have 6 more under contract, leaving behind 145 lots, ranging from improved RV lots on South Overstreet to stunning Gulf front’s! The residential market is night and day of vacant land in Mexico Beach. May delivered a total of 29 home sales! Mexico Beach closed 13 (2 Canal front, 1 Gulf front) homes, WindMark Beach closed 10, many new construction while St Joe Beach closed 5 homes (1 Gulf front) and Overstreet South closed a home on the Intracoastal. June looks even more exciting with 37 homes under contract. While it seems we are moving a large volume of property, the inventory remains high with 234 available options.
Mexico Beach is pumped with the iconic Toucan’s anticipated opening later this month! Our communities had a great Memorial day week and things have settled back into a normal Summer pattern, with an easy flow of traffic and plenty of rom along the beaches!
Since the addition of a couple great agents and opening the Cape San Blas office, we have proudly become the Top Producing Brokerage Year to Date in three of the four markets we service, Cape San Blas, North Gulf County and Mexico Beach!! Its your continued trust and support that got us here, THANK YOU!