With but a few exceptions, real estate sales data for last year showed little change from the previous year.
Last week, the Realtors’ Association of Franklin and Gulf counties shared its annual Multiple Listing Service (MLS) statistics for 2013.
Last year, a total of 452 properties countywide, comprising residential, commercial and lots and land parcels, sold for $97.2 million, compared to 461 properties for $95.3 million in 2012.
Residential sales were slightly up across the county. In 2012, 247 properties sold for a total of $79.5 million, and in 2013, 258 properties sold for $81.1 million. In both years, St. George Island had the lion’s share of residential sales, 112 in 2012 and 109 last year.
Carrabelle had the second greatest number of sales, with 67 in 2012 and 77 in 2013. The biggest jump was in Apalachicola, which saw a 33 percent jump in residential sales, from 42 to 56, and a 54 percent increase in the total sales volume, $6.8 million to $10.5 million.,
Eastpoint saw a slide in residential sales, from 26 in 2012 and 16 in 2013, but an increase in the average sale price, from about $173,000 to nearly $188,000.
The island saw a slight decline in median sales price for residential property, from $415,000 in 2012 to $410,000 in 2013. Apalachicola saw a rise in median price, from $138,000 in 2012 to $145,000 in 2013. The lowest median residential price was in Carrabelle, which increased from $95,500 in 2012 to $105,000 in 2013.
The biggest sales increase between the two years was in commercial property on St. George Island. In 2012, there were no commercial sales there but last year there were three sales totaling $2.25 million, with the largest chunk, $1.5 million, paid for bayfront property across from Harry A’s. The property was purchased by George Kirvin Floyd, founder and chairman of the Apalachicola Maritime Museum.
Marinas brought big money both years in Carrabelle. In 2012, the Moorings, at 1000 US 98, sold for $2.5 million, nearly 90 percent of the overall $2.8 million in commercial sales on the east end of the county. In 2013, the Carrabelle Marina, located almost next door at 803 US 98, sold for $560,000, the only listed commercial sale for Carrabelle in the MLS statistics last year.
Income from commercial sales varied little throughout the entire county. In 2012, 11 sales brought in $4.03 million. Last year, even with the increase in commercial sales on the island, the total was $4.36 million, for an increase of 8 percent. Commercial sales in Carrabelle were down $2 million from the previous year, largely due to the decline in marina sales totals.
Sales of lots and land generated the least amount of income both years. In 2012, 203 sales netted $11.75 million, and in 2013, 179 sales brought in $11.74 million.
The median price of undeveloped land increased in Carrabelle, from $10,750 to $14,000, and in St. George Island from $77,500 to $89,000. But median sales prices in Apalachicola, for about two dozen properties each year, decreased from $32,000 in 2012 to $28,000 in 2013.
Eastpoint had the greatest decrease in median prices for lots and land, with almost a 50 percent decline. In 2012, the median cost of an undeveloped lot in Eastpoint was $23,600, and in 2013, it was $12,850.
“Activity is up a little bit. Prices are inching up,” said Gloria Salinard, association executive for the local realtors association. “Everyone’s been really busy although that doesn’t always mean there are closings. There’s lots of interest.”