St James’ Monthly Market Update

September 1 to 0ctober 2, 2023

Availability of single-family homes have jumped dramatically. Wide range of prices, location, and styles currently for sale. Condos prices are holding steady, Club Villas and Marsh Winds are showing diminishing inventory available. Harbor Walk’s new construction is leading the parade. Lots? 10 sold in the last month; 5 new properties joined this highly competitive market.

HOMES

More homes for sale this month than in recent memory. 45 single family homes for sale. Since September 1st, there were 20 homes added to the inventory. We are seeing a more equitable distribution of home prices with the lowest-priced home coming in at $375,000.

In addition, there are 26 homes under contract waiting to close. Most of these homes were placed under contract within the last month. Median list price for these contracted homes is $293/per square foot.

Tracking this years’ sales from September 1- October 2, 2023, there have been 11 homes sold; median sold price is $309/square foot. Buyers paid a median of 98% of their list price. In comparison to the same time frame in 2022, fifteen homes sold with a median square foot of $252. Buyers paid an average of 99% of their list price.

CONDOMINIUMS

The market activity for condominiums is holding steady. Today there are 14 condos for sale representing the St James’ communities of Marsh Winds, Club Villas, and Harbor Walk.

Ten condos are under contract, Harbor Walk’s new construction leads the way with 9 condos under contract; Marsh Winds has one unit under contract.

In both 2022 and 2023, there were only 3 condos sold in both years during the timeframe of September 1-October 2. Prices held steady. Club Villas dominated this field.

LAND

This remains a sellers’ market. Prices remain competitive however the limited inventory continues to challenge buyers. There are only 14 lots available to purchase with an additional 3 lots under contract [median price is $355,000 per lot]. Five lots have come on the market since September1, 2023.

From September 1-October 2, 2023, there were 10 lots sold, median price was $220,000. Buyers paid a median of 97% of their list price. Same timeframe in 2022, there were 6 lots sold with a median price of $222,500. Buyers paid an average of 97% of their list price

Want to build in St James? Consider buying your property now. Important Note: There is no time limit from your land purchase to construction in St James.