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Cape San Blas Real Estate Week in Review, December 24 - December 30, 2022

Published on December 31, 2022 by Chris Petrie under Cape San Blas, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate, Week In Review

For Sale and Sold Sign

Welcome to the last real estate update of 2022 for Cape San Blas, Indian Pass, and the CR/SR 30-A corridor.  We’re finishing up the year with another slow week for new activity, and a few more recorded sales as we turn the corner into 2023.  In the next week or two we’ll be reviewing our total sales statistics and trends for this past year.  Meanwhile here’s a brief review of the 4 transactions which made it to closing this final of December:

  • 6125 Cape San Blas Road – We’ll get started with another high end, Gulf front home sale on the north Cape, this one is located in the Rosemary Dunes subdivision.  This new construction, fully furnished, turnkey vacation rental home sits on a 51′ wide, 0.53 acre beachfront lot and features a private heated pool, hot tub and full service elevator.  The residence boasts 7 bedrooms, 6 full bathrooms, 2 half bathrooms, 4,017 sq ft of living space, an X zone location, and $267K in gross rental income this year.  The property was on the market for 82 days asking $3,499,000 before going under contract and selling for $3,400,000 this week with conventional financing.  The sellers purchased the vacant Gulf front lot in 2020 for $460,000.
  • 2579 SR 30-A – This home is located in the Shallow Reed subdivision off of the SR 30-A corridor between the Cape and Port St. Joe close to Presnells Marina.  The 2015-built residence sits on a 73′ wide, 0.25 acre lot with an unobstructed view of St. Joe Bay with 4 bedrooms, 3 bathrooms and 1,750 sq ft of living space.  The property hit the market in May asking $749,000 and was later reduced to $699,500.  After 163 total days on the market the home sold for $665,000 cash, which is up from the $377,000 the sellers paid when they purchased back in 2015 right after the home was built.
  • 65 CR 30-A – The first of two vacant lots sales which were recorded through our MLS this week, this lagoon-front parcel in the South Lagoon subdivision off CR 30-A measures 83′ wide and 0.6 acres.  Located near the Gulf and Franklin county line, this property was on the market for 40 days with a price tag of $79,000 before selling for $72,500 cash.  The seller paid $110,000 for this vacant lot back in 2003.
  • Lot 2 Labrador Drive – Here’s an interior, bay view lot in the Park Point subdivision on the north Cape which borders the state park.  It’s an irregular-shaped, 0.27 acre property with underground utilities and access to a community beach boardwalk, pool and clubhouse.  The lot was originally listed for sale in July asking $145,000, reduced to $129,900 in October, then went under contract after a total of 131 days on the market and sold for $115,000 cash.  Not a bad way to wrap up 2022 for the sellers, who purchased the lot in 2013 for $27,500.

 

There was only 1 new contract executed in our comparative market this last week of December, it’s for a vacant lot off the CR 30-A corridor.  Another expired listing is no longer on the active market, and 4 more price reductions to note as well before the end of the month.  1 new listing was added to our residential inventory, which is up 1 to 36 properties for sale in our relative market.  Our vacant land total inventory count is down 2 to 91 lots listed for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor.  It’s been a heck of a year, thanks as always for keeping up with the weekly real estate blog, I appreciate your time and attention.  Let me know anytime I can help at (850)899-8765 or [email protected]  In the meantime have a Happy New Year, and if you’re in Gulf County don’t forget about the fireworks which will be over St. Joe Bay in Port St. Joe beginning at 10:00 pm EST on New Year’s Eve.  And what better way to start off 2023 than participating in the 7th Annual Cape San Blas Polar Plunge at 10:00 am on New Years Day at Cape Palms Park.  See you next year!

 

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