Hello readers – here we go right into June, the gateway to summer. Temperatures are up, lots of folks in town renting, beachgoing, fishing and shopping, and our real estate market keeps on rolling right along. Plenty of new activity this week, perhaps making up for a slower last week of May in our previous blog post. Below is a detailed look at the eight recorded sales from Cape San Blas, Indian Pass, and the CR/SR 30-A corridor within the past 7 days:
- 453 Rhonda Del Sol Circle – We’ll start on the south Cape this week, where there were three residential sales recorded in the Villa Del Sol community. This 4 bedroom, 3.5 bathroom, new construction Truland Home has 1855 sq ft of unfurnished living space with water views towards St. Joe Bay to the north on an irregular, 0.15 acre lot. Villa Del Sol is an updated subdivision which features a community pool and clubhouse, pickleball courts, Gulf and bay access points with annual HOA dues of $1900. This property hit the market in early December and only lasted 6 days before going under contract and eventually selling for the full asking price of $699,900 with assumed financing.
- 111 Camino Real Road – Here’s the second new construction Truland Home sold this week in Villa Del Sol, this one has 4 bedrooms, 3 full bathrooms and 1855 sq ft of unfurnished living space, also on a 0.15 acre lot with bay views. This spec home was listed for sale in December, lasted 41 days before going under contract, and just sold for the full asking price of $689,900 with assumed financing.
- 143 Rhonda Del Sol Circle – Last but not least, this 3 bedroom, 3.5 bathroom Truland Home in Villa Del Sol has 1792 sq ft of unfurnished living space with bay views on a 0.12 acre lot. This one was also a new construction spec home which just sold for the full asking price of $674,900 after only 1 day on the market. All three of these homes were built on lots purchased in bulk by Truland Homes in 2021, as the home builder continues to build out this fast-growing subdivision.
- 192 Sandy Lane – Moving east from the south Cape to Indian Pass, here’s a 5 bedroom, 5 bathroom, 2648 sq ft beachfront home which was built in 2004. This fully furnished, recently upgraded turnkey rental home sits on a 55′ wide Gulf front lot with a private pool and hot tub, and generated over $184K in gross rental revenue last year. The vacation home only lasted 7 days on the market asking $2,200,000, and just sold for $2,190,000 cash. The seller bought this property just about one year ago for $1,600,000.
- Lot 14 Pinnacle Drive – Vacant lot sales follow the residential sales – here’s one from the north Cape in the upscale Ovation subdivision which features high-end amenities like beach-side and bayfront swimming pools, bay-side docks and beach boardwalks, clubhouses, tennis courts and green space with annual HOA dues of $2950 (along with a new buyer fee of $2000). This bayfront lot # 14 is ~45′ wide measuring 0.2 acres, and it just sold for the full asking price of $325,000 cash after only 2 days on the market. The sellers had previously purchased this bayfront lot for $81,000 in 2013.
- 106 McCosh Mill Road – Moving from the north Cape to the south Cape, here’s an interior lot in the Piney Woods subdivision which features a community pool, clubhouse and deeded beach access via community boardwalk. This 53′ wide, 0.16 acre X zone lot was on the market for 50 days asking $151,900 and just sold for $132,600 cash this week. The sellers purchased this property for $62,000 in 2009.
- Lot 11 Waters Edge Drive – This interior lot is located in the Water’s Edge community, just off CR 30-A very close to the Cape San Blas turnoff. The community features deeded beach access across CR 30-A, a nice-sized community pool, clubhouse and tennis court, along with a community septic system in place with annual HOA dues of $850. This 78′ wide, 0.32 acre lot was on the market for a total of 267 days starting at $99,000, then reduced to 92,500 before selling for $90,000 cash this week. This was one of 8 vacant lots the seller purchased from the subdivision developer in bulk back in 2002 for a package sale recorded at $399,200.
- Lot 6 Sly Street – Another interior lot sale, this property is located off SR 30-A near Presnell’s Marina in the relatively new Bayou Club, an RV-friendly subdivision. This lot measures 0.19 acres with a paved road access and utilities in place. The property was only on the market for 1 day before going under contract and selling for the full asking price of $79,000 cash. The seller was the developer who purchased the entire parcel for $350,000 in 2020 before making utility and road improvements and subdividing into 11 individual RV lots.
There was a healthy uptick in new activity this week, with a total of 11 new contracts from the Cape, Pass and 30-A corridor, consisting of 7 new residential contracts and 4 new vacant land contracts executed by buyers and sellers. There were also 3 cancelled contracts in the past seven days, 2 residential properties and 1 vacant lot which are all back on the active market. Several more price adjustments to report, with 6 reductions and 2 increases. One more expired listing to note, a vacant lot no longer on the active market.
3 new residential listings were added to our inventory this week which brings our total inventory count to 34 residential properties on the market for all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor. We also counted 10 new vacant lot listings this week (2 already under contract), which gives us a total of 88 vacant lots listed for sale in our same comparative market.
That’s all for this week folks, thanks again for reading and please let me know anytime I can help with any of your real estate needs, chris.coastalreale[email protected] or (850)899-8765. Don’t forget about the Salt Air Farmer’s Market is this weekend, the first and third Saturday of every month in Port St. Joe this time of year. I hope everyone stays cool and has a great weekend!