In St James, there have been 25 homes added to the market since New Years’ Day.

St James Plantation has 56 homes for sale providing a healthy selection of homes in all price points, sizes, locations and designs. These listed homes are averaging $302/per square foot.

Unlike the seller-centric market of limited inventory, high prices and frenetic buying, we are seeing a much healthier pace of sales. The average time on the market for the 21 homes under contract is now 77 days.

There were 22 homes sold since December 13, 2023. Spanning price ranges from $418,000 – $1,435,000; averaging $283/per sold square foot. Buyers paid an average of 96% of their list price.

And there is no snow to shovel here!

HOMES

Our single-family home Inventory has shown a healthy increase in October 2023. There are now fifty-five homes for sale: ten more than in September. In the month of October, seventeen homes entered the market.

In addition, there are eighteen homes under contract. Many homes have been placed under contract in October.

October 2023 experienced a robust month of sales, with sixteen homes sold. Buyers paid an average of 97% of their list price. In October 2022, the sales volume was comparable to 2023, however, the price-per-square foot was $16 less per square foot than this year. Calculate that average $16/ square foot increase on the purchase price of a 2,000 square foot home. 

Measuring October’s impact on housing price trends:  both the average listed price-per-square-foot and the inventory increased significantly. These factors contribute to the current healthy housing market… a win-win for buyers and sellers.

CONDOMINIUMS + TOWNHOMES

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

Ten condominiums and one townhome are under contract. Prices remaining constant for Marsh Winds, Club Villas, and the new construction units of Harbor Walk. Ship Watch Villas, a rare commodity for sale, was under contract with only 3 days on the market.

In review of the sales activity for October 2022 vs. October 2023, mirrored each other with only two units sold. All different communities, locations, and price points. For detailed information on any condominium or townhome community in St James, contact Allyn Heck, Broker, 910-367-3989 or AllynTracyHeck@Gmail.com 

LAND

Prices remain competitive, the limited inventory continues to challenge buyers. There are only thirteen lots for sale with an additional three lots under contract. In October 2022, there were eight lots sold; the highest-priced property was $272,000. In October 2023, there were only two lots sold, the lowest-priced property was $335,000. Low existing inventory, a slow replenishment of new listings and rising land costs are directly impacting potential buyers and current property owners.

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.

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

Single Family Homes
Today there are 25 single homes for sale; prices range from $425,000 to $1,795,000. The pricing has become top heavy with many homes [15] listed for over $1 million.

In addition, there are 21 homes under contract; prices range from $420,000 to $1,750,000; 7 are listed for over $1million. Ten of these homes were placed under contract within the last 30 days.

Over the past year, there were 187 homes sold in St James. Buyers paid an average of 98% of the list price [average sold price $713,179. Putting this activity in context, comparing June 11 – July 11 in 2022 and 2023; last year there were 26 homes sold in that period, buyers paid an average of 100% of the list price. Homes sold were averaging $277 per square foot. During that same period in 2023, there were less homes sold than the prior year [22]; buyers paid an average of 99% of the list price and the average cost-per-sold square foot dropped to $270.

Condominiums
In St James Plantation there are several condominium communities, they are: Club Cottage, Club Villas, Harborside, Harbor Walk, Lakeside Commons, Marsh Winds, and Ship Watch Villas.

As of 07.11.2023 there are 19 condos for sale:

3 in Club Villas $300,000 – $340,000