St. James Monthly Market Update

The past month’s real estate market in St James Plantation was just as hot as our weather. Good news for buyers, there are more homes for sale now than in last month’s update. The inventory of lots available to purchase continues to decline.

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.

HOMES

Starting September off with 33 single family homes for sale with 18 homes priced under $1million, averaging $264/square foot.

In addition, there are 23 homes under contract waiting to close. Most of these homes were placed under contract within the last month.

Since June 1, 2023, there have been 50 homes sold [10 for over $1 million]. Buyers paid an average of 98% of the list price in this 91-day timeframe. 70% of the homes that sold were placed under contract in the first 30 days of the listing’s launch.

CONDOMINIUMS

The market activity for condominiums is holding steady. Today there are 15 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 6 condos under contract. Marsh Winds [1] and Club Villas [3] trailing behind.

Within the past 3 months, there have been 10 condos sold from the communities of Ship Watch [average price was $506,500], Marsh Winds [average price was $255,033] and Club Villas [average price was $314,600].

LAND

The stats this month will speak volumes regarding the sales activity within the last month. This has become a sellers’ market.

There are only 14 lots available to purchase with an additional 9 lots under contract. Since June 1, 2023, eleven lots sold. This depleted inventory will support rising purchase prices.