January Wrap Up & February Market Conditions

The pic above is no joke…….we had LOTS of ice and traces of snow here on the Forgotten Coast this past month.  Needless to say, we are not accustomed to such weather!  Even with the plummeting temperatures, January was a great start to 2014.  There were 38 sales in the area with the majority being residential properties.  This may sound like a low number but I disagree as we are experiencing a very low volume of available properties.  There are only 22 single family homes on the market in Mexico Beach right now.  We have not seen this low of inventory in a very long time!  One would think the lack of supply would cause prices to go up but this has not been the case.  We aren’t seeing many (if any) properties selling for over market value.  Bottom line, your property will sell if it’s priced at market value.

The lower inventory of available homes has caused lot sales to increase.  There were 15 lots sales in January with eight of them being sold on Cape San Blas alone.  Many buyers are simply deciding to buy a lot a build exactly what they want.  I think this is a great option if you are comfortable with waiting on the home to be built.  Our local builders are in full swing and ready to build your dream home!