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Cape San Blas Real Estate Week in Review, December 3 - December 9, 2022

Published on December 9, 2022 by Chris Petrie under Uncategorized

For Sale and Sold Sign

Apparently not too many holiday shoppers had real estate on their list this season.  This is traditionally a slower time of the year for our market between the holidays, and this season seems to be returning to the pre-COVID pace that we were used to seeing in previous years.  Only 3 recorded sales made it to our MLS this week, with quite a few more cancelled and expired listings to go along with only 1 new contract.  Below is a quick review of the most recent recorded sales from Cape San Blas, Indian Pass and the CR/SR 30-A corridors:

  • Lot 4 McCosh Mill Road – This 0.16 acre lot is located on the south Cape in the Piney Woods subdivision, and it measures ~53′ wide with an interior location and no water views.  The Piney Woods HOA offers deeded beach access and a community pool, and this vacant lot was listed on our MLS in early 2022 asking $130,000.  After 181 days on the market the lot sold for full price in September, but was just entered into our MLS as a recorded sale with conventional financing this week.  The sellers had purchased the property in spring of 2021 for $89,900.
  • Lot 11 Stillwater Way – Here’s a 70′ wide interior lot off the north side of the CR 30-A corridor away from Indian Lagoon.  This 0.36 acre lot is located in the Stillwater South mini-subdivision, and it lasted 20 days on the market asking $49,900 before selling for $50,000 cash this week.  The sellers had owned this lot since 2012 when they paid $14,000 for the parcel.
  • 143 Rhonda Del Sol Circle – A lucky buyer took the keys to this new construction home in the expanding Villa Del Sol subdivision on the south Cape as an early Christmas present.  The Gulf and bay view home was sold as a fully furnished turnkey vacation rental with deeded beach and bay access, along with neighborhood rights to a community pool, clubhouse and pickleball court.  The seller purchased the brand new construction, unfurnished Truland Homes this past May for $674,900.  The seller proceeded to furnish, supply, decorate and rent the vacation property all summer and listed it for sale in early September with a price tag of $789,000.  The property just sold for $765,000 with conventional financing.

 

Only 1 newly executed contract to report from the past 7 days in our comparative market, but it’s an impressive one as a new construction, 7 bedroom, 6 bathroom, over 4,000 sq ft beachfront home on the north Cape in the Rosemary Dunes subdivision asking $3,499,000.  One step forward, one step backwards as we had another cancelled contract this week, this Seacliffs Gulf view unit is back on the active market after the buyer had a change of plans.  We can also report 4 expired listings reaching the end of their listing terms without finding the right buyer, all 4 were vacant lots on Cape San Blas.  6 more listings (5 residential, 1 vacant lot) were cancelled voluntarily by sellers, no longer on the active market.  We can also note 1 price reduction on a residential listing on the north Cape.

 

2 new listings were added to our inventory this week, one home on the south Cape and one lot on the north Cape.  Our total inventory counts are down a few more, with 35 residential properties listed for sale and 94 vacant lots available on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor.  If you’re interested in buying or selling as we approach the new year, let me know if I can help, (850)899-8765 or [email protected]

 

It’s a festive weekend in Gulf County with the Port St. Joe Garden Club hosting Christmas in the Garden on Saturday, December 10th from 9:00 to 2:00 EST at 216 8th St in Port St. Joe.  Also don’t forget about the Christmas on the Coast parade in Port St. Joe on Reid Avenue this Saturday evening.  Thanks again for reading, have a good one in the meantime.

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