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Cape San Blas Real Estate Week Review - February 5 - 11, 2022

Published on February 11, 2022 by Chris Petrie under Cape San Blas

For Sale Sold SignThe grand finale of the 2021 football season is in the air this week, as we had another competitive week of real estate activity on the Cape, CR 30-A corridor and Indian Pass.

Below is an instant replay of our five recorded sales for this Super second week in February.

  • Lot 19 Pinnacle Drive – Here’s a 15 yard (45 ft) wide bayfront lot in the Ovation Subdivision on the north Cape which had a price tag of $289,900 for 110 days.  Ovation is the Sofi Stadium (home of this year’s Super Bowl) of HOAs in the area, with high end amenities, very well-kept grounds, plenty of covenants and restrictions, and a Gulf to bay landscape across the peninsula close to the state park.  The new owner paid $285,000 cash for this property, as the sellers only penalty will be capital gains after purchasing this property for $67,000 in 2012.
  • 187 Colors Way – This RV-friendly lot is located in the Bay Colors mini-subdivision off SR 30-A between the Cape and Port St. Joe in the Simmons Bayou neighborhood.  This 0.16 acre lot did include a pole barn and sewer connection, with power and water service in place.  The property had an asking price of $197,500 for 75 days before the hand-off for $180,000 cash this week, almost a year to the date from when sellers purchased this lot for $110,000.
  • 0 CR 30-A – One more RV-friendly lot just made it to the end zone, this one is located off the north side of CR 30-A past Indian Pass towards Apalachicola in the Palmetto Creek mini-subdivision.  All tap fees have been paid on this 0.31 acre lot, with a raised pad in place for an RV or building site.  The owner of the property, who was the developer to subdivide and improve the 10 lots in Palmetto Creek,  was asking $87,500 for 18 days before accepting a contract for $80,000.
  • Lot 9 W Ovation Drive – Running a reverse back to the high-end Ovation Subdivision, this Gulf front lot measures ~15 yards (45 ft) wide and hit the market in January as an under contract listing.  This property just crossed the goal line for the full list price of $751,600 cash, a nice score for the seller who purchased the property in 2012 for $135,000.
  • 16 Ovation Drive – And one more recorded sale in Ovation just before time expired – this first tier lot (one behind Gulf front) is located in an X flood zone (higher elevation, no flood insurance required) and hit the market in early January asking $399,000.  It went under contract after only one day, and just closed for $379,000 cash.  Another touchdown for the sellers, who originally purchased the property for $149,500 in early 2015.

While we recorded five vacant lot sales this week, new contracts dominated the time of possession for market activity, with eight new residential contracts and three new vacant land contracts.  Our inventory continues to get sacked, but fortunately three vacant lot listings with fresh legs rushed onto the active market playing field.  We were also happy to see four new residential listings move into scoring position, one of which is already under contract.  There are two price changes to report, and one residential listing decided to punt and take their property off the market.

Our updated inventory count currently sits at only 18 residential properties and 77 vacant lots for sale on all of Cape San Blas, the CR/SR 30-A corridor, and Indian Pass.  Sellers are still controlling the line of scrimmage for our market in the first quarter of 2022.  I hope everyone has a great Super Bowl Sunday this weekend, followed up by a lovely Valentine’s Day on Monday.

For those of you in town this weekend, the Forgotten Coast Sea Turtle Center is hosting some informative talks on shorebirds in our area on Saturday, February 12.  The FCSTC is also organizing some beach cleanups on Indian Pass, Cape San Blas, and the St. Joe Peninsula state park on Sunday the 13th to prepare for the upcoming shorebird nesting season.  You can find more info on these events on their Facebook page (@FCSeaTurtleCenter).  Of course there will be Super Bowl parties for the big game on Sunday night, as Scallop RePUBlic on Cape San Blas and the Haughty Heron in Port St. Joe will be great spots to enjoy the game with friends, good food and drinks.

If you’re ready to sell, price it right and you’re sure to score. Call or text me at 850-899-8765 or drop an email to [email protected] and I’ll help you get started. Have a great week and thanks for stopping by today.

Chris Petrie, Associate Broker, Coastal Realty Group – Cape San Blas

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