And now it’s December as 2022 continues to fly by, hard to believe we’re closing in on the end of the year already. Retailers saw plenty of buying and selling this week after Thanksgiving, but not so much in our local real estate market. There were just a few recorded sales and new contracts from the past 7 days to go along with plenty of expired listings, price reductions, and a few more cancelled contracts. Below are links to the recorded sales from Cape San Blas, Indian Pass, and the CR/SR 30-A corridor, all 3 were vacant lots:
- TBD Cape San Blas Road – Our first vacant lot sale this week is located on the north Cape bayfront section just before Rish Park. This 50′ wide, 1.09 acre parcel is located directly on St. Joe Bay with a recently improved 450′ long dock shared with 2 other neighbors. The property was on the market for 104 days before selling for the full asking price of $299,000 cash. The sellers paid $40,000 for this bayfront property back in 1996.
- 24 Chord Grass Way – This vacant lot is located in the Jubilation subdivision on the south Cape, measuring 50′ in width and a total of 0.1 acre. The interior property does not have a water view, but it does have access to the neighborhood deeded beach boardwalk access and community pool and clubhouse. The Jubilation HOA has CC&Rs with architectural control and sewer lines in place, and this lot backs up to the Eglin Air Force base property at the western end of the south Cape. The property was on the market for 22 days asking $149,000 and it just sold for $145,000 cash, which is quite a bit less than the sellers’ purchase back in late 2004, recorded at $385,000 in a very different market.
- Lot 4 Sandbar Drive – Here’s a vacant lot in the Treasure Bay neighborhood off SR 30-A close to the Cape San Blas turnoff. This 0.5 acre lot measures 100′ in width and is first tier to St. Joe Bay with nice water views. The property hit the market in early July asking $124,500, and 104 days later it went under contract before selling this week for $103,000 cash. The seller had originally purchased this parcel in 2018 for $52,000.
Continuing with the vacant land theme of the week, all 3 of the new contracts executed in our comparative market were vacant lots. Our market also saw 10 price reductions to active listings, as a few more sellers are hoping to entice some holiday shoppers this month. With the end of November came 9 expired listings no longer on the active market (4 homes and 5 lots), and 3 more listings were withdrawn from the market before listing terms expired. Meanwhile a surprisingly high number of 5 contracts were cancelled this past week, as more than a couple buyers apparently had a change of plans.
On to the new listings, 5 were added back to the inventory this week, consisting of 3 new residential offerings and 2 new vacant land listings. Our total residential inventory remains unchanged at 39 properties on the market, and our vacant land inventory is down a few to 97 lots for sale on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor. Thanks again for checking in, let me know anytime I can help, (850)899-8765 or chris.coastalreal[email protected]. Don’t forget this Saturday is the last Salt Air Farmers’ Market of the year in Port St. Joe, a special holiday edition. Enjoy your weekend, have a good one.