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What is happening in Real Estate? Inventory is growing, slowly. Lot listings in our area have doubled from December to January even as actual sales are down 50%. Residential listing numbers are low, but should come up as we get into spring. These numbers are similar in other parts of the country. The days of real estate agents just taking orders are no more. The days of taking a listing and having it sell in less than 24 hours with multiple offers is now in the past! Now, realtors are going to have to really work for our clients in order to get the job done. 


Real Estate typically cycles like this, it fluctuates up and down over the years. For many of you, this may be the very first time you’ve experienced this type of market. In 2022, interest rates were between 2.75% and 3.25%. Today, interest rates have gone way up, ranging between 6.5% and 7.2%. Some of you are shocked seeing interest rates in the sevens. And for a few of us, seeing agents fretting about interest rates in the sevens is almost laughable. We remember rates when they were in the 18% and 19% range in the late 1970s and early 1980s.* 


Coastal Realty Group has had to adjust in this cyclical flow as well, but we are still in the top 3 local real estate companies in Gulf and Franklin Counties for 2022. In fact, now our 19 years of buying and selling totals $1,072,464,919! (that’s * one billion, seventy-two million, four hundred sixty-four thousand, nine hundred nineteen dollars!) We thank YOU, our customers and clients for your support and referrals and faith in our company. We hope to continue to be your go-to for real estate services for many years to come! 


The weather has been teasing us with spring, but we know the cold is not over yet. Even so, the flowers and trees are starting to send out new buds and tempting fate! We will have to get out on these sandy beaches before long! Check out the upcoming events below and we hope you drive down and enjoy some of them with us!


Sunniest Regards,



Preston J. Russ & Brian K. Burkett

Brokers

*source: MFO, Jan 2023 newsletter


PRICE REDUCTIONS - RESIDENTIAL
PRICE REDUCTIONS VACANT LAND
Click below to discover this month's upcoming events in our area
Featured New Listings

Carrabelle Riverfront

Vacation or Retirement Home


3 bedroom 3.5 bath

1906 sf


large parcel 9.80 acres


Custom Home with Hardwood floors, cedar walls, oak beams


MLS 313205

$725,000

New in January Residential Listings 69

ST JOE BEACH

BUILDING LOT


Build your beach house on a lot in the X Flood Zone


Sewer Available

Underground Utilities


No HOA but C & R to protect your investment


Easy cart ride to the Gulf!


MLS 313032

$118,000

New in January Vacant Land Listings 130

HISTORIC HOTEL


5 bedroom 5 bath

over 4000 sf


Updated Indoor and

Outdoor Spaces


Walk to Downtown

and to the Harbor


Rental or

Private Residence


MLS 311252

$899,000



Active in January Commercial Listings 31

Cape San Blas South Gulf Co.

8

SOLD

Homes & Lots

Mexico Beach

St. Joe Beach

18

SOLD

Homes & Lots

Port St. Joe

6

SOLD

Homes & Lots

North Gulf County

9

SOLD

 Homes & Lots

Apalachicola

5

SOLD

Homes & Lots

Eastpoint

3

SOLD

Homes & Lots

Carrabelle

9

SOLD

Homes & Lots

St George Isle

2

SOLD

Homes & Lots

Other Counties

4

SOLD

Homes & Lots

Gulf County Closed Properties in Dec 60_Jan 41_ Current Active Properties 516 Jan 511



Franklin County Closed Properties in Dec 32 Jan 23__ Current Active Properties 527 Jan 559

Dr. Martin Luther King Jr.

4 Offices and 30 Agents to Serve You!

Cape San Blas Office
1252 Cape San Blas Rd
850-227-7770

St George & Apalach

25 Avenue D.

850-927-2700

Port St Joe Office
202 Reid Ave
850-227-7777
Carrabelle Office
101 Marine St
850-697-1010
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#1 Real Estate Agency on The Forgotten Coast for the last 6 years
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