Thanksgiving is right around the corner, it’s cool at the beach, and our real estate market is continuing at the same relatively steady pace we’ve been experiencing over the past couple of months. This is normally a slower time of the year for transactions, especially around the holidays, but we’re still seeing a few new contracts every week while our inventory levels are remaining consistent. Let’s dive right into our weekly review with a summary of the 4 recorded sales from the past 7 days on Cape San Blas, Indian Pass and the CR/SR 30-A corridor:
- 199 Monarch Beach Drive – Here’s a brand new construction Gulf front house on the north Cape in the recent Monarch Beach subdivision. This 6 bedroom, 6.5 bathroom unfurnished home has 3,665 sq ft of living space, a private pool and elevator, all located in the X flood zone (exempt from flood insurance requirements due to higher elevation). This property hit the market in late 2021 and lasted 98 days with an asking price of $3,200,000. After a lengthy contract period to finish construction, this high-end home just sold for $3,040,105 cash. The sellers were the subdivision developer and builder who worked together on the spec home project, so no relevant sales data is available for the individual parcel.
- 126 Pluto Way – We’re on to the south Cape for this home sale, a 3 bedroom, 3 bathroom 2,030 sq ft home located in the Surfside Estates Phase II neighborhood with deeded beach access a short walk away. This interior home was sold unfurnished and sits on a quarter acre, 89′ wide lot which is entirely in the X flood zone. The house was built in 2005 with some recent improvements, very nice finishes, and an elevator. This property was on the market for 12 days asking $869,000 before going under contract and selling for $849,000 with conventional financing, which is up from the $774,900 the sellers paid at the end of 2021.
- 104 E Seascape Drive – Transitioning to vacant lot sales, this 0.64 acre beachfront lot is located in the Two Palms subdivision on the south Cape. It measures 51′ wide and lasted 17 days on the market this fall with a price tag of $635,000. The Gulf front property just sold for $600,000 with conventional financing, which is less than the $775,000 amount the sellers paid for the lot back in 2007.
- Lot 39 Rhonda Del Sol Circle – We’re back in the expanding Villa Del Sol neighborhood just down the road from Two Palms on the south Cape, where this 0.17 acre Gulf view lot just changed hands. The 3rd tier to the Gulf vacant lot has access to the beach and bay, community pool and neighborhood pickleball court. After 21 days on the market, this property sold for $174,000 with conventional financing, just under the full asking price of $174,900 and up from the $125,000 the sellers paid almost exactly one year ago.
4 new contracts were penned by agents working with buyers and sellers in our comparative market in the past 7 days, 3 were new residential contracts and 1 was a new vacant land contract. 3 active listings expired this week, and there was 1 cancelled residential contract which is back on the active market. 3 more sellers decided to trim their asking prices down a bit just in time for the upcoming holiday.
Our inventory welcomed 3 new listings to the active inventory this week, 2 were residential properties which got snatched up (both included in the new contracts already) and 1 was a new lot listing. These new additions along with the recent activity puts our total inventory at 39 residential properties for sale along with 103 vacant lots for sale on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor. Thanks as always for checking in and let me know if I can ever assist with your real estate needs on the Forgotten Coast, (850)899-8765 or [email protected].
It’s the third weekend of November, which marks our second to last Salt Air Farmers’ Market of 2022 in Port St. Joe. It’s also a good time of the year to remember our furry friends at the local St. Joe Bay Humane Society. As many of you already know, our pet-friendly beaches are a huge draw for visitors and potential buyers in our real estate market. Our local animal shelter has been open for 15 years now, and it would not be sustainable without generous donations and volunteer efforts here in Gulf county. It is a 501(c)(3), non-profit, no kill shelter that has helped over 8,000 animals find new homes. Please help support this cause by donating at www.givebutter.com/CSBlog. I hope everyone has a great Thanksgiving with family, friends and pets next week!