St James’ Monthly Market Update

Today, there are 2 noteworthy developments in the St James Plantation Real Estate Market, the skyrocketing price platform of homes listed and the dramatically low lot inventory. This is a red alert for potential buyers and sellers.

Homes priced over $1million now dominate the current market in St James Plantation. According to the MLS report of August 11, 2023, there are 25 single family homes currently for sale, 13 of the listed homes have a price tag of over $1,000,000. The lowest-priced home is listed for $574,900.

As a barometer of the level of activity, there are 29 additional homes under contract list prices ranging from $425,000 – $1,750,000. Yes, the over $1million housing market remains strong with 7 contracted homes towering over $1million.

Over the past year, there were 186 homes sold, 55 were sold within the last 3 months. In that 90-day timeframe, homes with a $1million+ price point represented 11 of the 55 sales, these luxury homes averaged $364/square foot with buyers paying an average of 96% of the asking price.

Since May 11, 2023, there were 44 homes sold for $420,000 -$990,000; buyers paid an average of 99% of the listed price; averaging $259/square foot.

Interested in turnkey ownership? There are 16 condominiums available to purchase. With a wide selection of locations, designs and price points.

Interested in purchasing land to build your dream home? There are only 17 lots for sale. Look no further than the activity of the last three months to follow the sudden drop in inventory; 13 additional lots are now under contract and 28 lots have been sold. Important note: There are no restrictions on the length of time between your lot purchase and building your home.

For additional details contact Allyn Heck, broker, Three Rivers Realty, 910-367-3989 or AllynTracyHeck@gmail.com