It’s hard to believe that January is already behind us in this busy new year of 2022. We head into February with another active week in the real estate market for Cape San Blas, Indian Pass and the CR/SR 30-A corridor. In the past 7 days, we recorded a total of five MLS sales in our comparative market, below is a more detailed view of each recent sale for reference:
- 104 Dominica Drive – This new construction, first tier home (one behind Gulf front) was recently built by Big Fish Construction with 4 bedrooms, 3 full bathrooms, 2108 sq ft living space and an X flood zone location (no flood insurance required by lender due to higher elevation). The seller was asking $1,398,700 and was on the market for only one day before immediately going under contract. The new owners just took possession for the full asking price of $1,398,700 with conventional financing, and the house was sold partially furnished.
- 0 Cape San Blas Rd – Here’s a roadside 0.37 acre vacant lot which has been cleared and measures 96′ wide and 171′ deep. This property features deeded beach access a short walk away, and was on the market for 147 days with an asking price of $174,900. The new owners purchased this buildable lot on the north Cape for $162,000 with conventional financing.
- Lot 8 Mercury Lane – Moving to the south Cape for this Surfside Estates Phase II vacant lot, a quarter acre property measuring ~90′ wide and 122′ deep. There’s an active HOA here with deeded beach access and “peek-a-boo” Gulf views from the property. This lot was on the market for 24 days with a list price of $125,000 before going under contract and selling for $115,000 cash this week.
- 9722 CR 30-A – On to the CR 30-A corridor to the east of the Indian Pass Road turnoff, this lagoon-front property measures 100′ in width and covers a total of 1.69 acres with some marsh and wetlands on the south end of the property. This parcel included a 40′ x 80′ pole barn with concrete slab, small utility shed and a power pole. The asking price was $119,500 and the property ended up selling for $110,000 cash after 52 days on the market.
- 233 Gulf Pines Drive – This first tier (one behind Gulf front) lot in the Gulf Pines neighborhood is located just off the CR 30-A corridor between Indian Pass and the Cape San Blas turnoff, in an area where FEMA federal flood insurance is available. The Gulf view lot measures 100′ wide and ~283′ deep, was on the market for 130 days with a price tag of $289,000 and ended up selling for $285,000 cash this week.
To go along with our five new sales, we saw eight properties go under contract with an even split of four homes and four vacant lots no longer on the active market. There were also five price reductions to report (1 home, 4 lots), and a couple more expired listings from the end of last month.
A few more sellers decided to join the party in the past seven days, adding three new home listings (one already under contract), and four new lot listings to the market. There were also two homes which came back on the market from previous cancelled contracts, and a couple more lots which made it back on the market as well (one cancelled contract, the other from a combined listing). This brings our current inventory count to twenty-three homes and seventy-seven vacant lots. We seem to be stuck on the magic number 99 for total inventory count going on three weeks now. We’ll see if we can fix the broken record next week.
For local news and updates, the South Gulf County Coastal Community Association is having their winter meeting this Saturday, February 5th at the First United Methodist Church in Port St. Joe from 10:00 to 12:00. Registration begins at 9:30, and the meeting will also be broadcast on the South Gulf County CCA Facebook page (@gulfcountycca). For those of you who aren’t already members of the Gulf County CCA, this is a great local organization providing important updates and pertinent information to all property owners in the area. Their mission statement is as follows: “Sharing ways to keep South Gulf County Florida as a friendly, quiet, uniquely charming, low density residential shoreline community.”
Thanks again for reading the weekly Cape San Blas Blog this week, let me know if I can ever help, have a good one in the meantime.
Chris Petrie – (850)899-8765, [email protected]