We’re coming up on Valentine’s Day next week, which in years past has been a transition point from a slower to slightly more active rental and real estate business in our area with the much busier spring season right around the corner. We’ll see if this trend holds true this year as we’ve already seen some pretty slow weeks for real estate transactions early in 2023. We’re off to a good start with 6 recorded sales and some impressive new contracts from the past 7 days in our Cape San Blas, Indian Pass and CR/SR 30-A corridor market. Let’s get started with a review of the most recent recorded sales, which include 4 homes and 2 lots.
- 629 Gulf Pines Drive – Here’s a 3 bedroom, 3 bathroom home sale from the established Gulf Pines neighborhood off of the CR 30-A corridor between Indian Pass and the south Cape. This 1999 home has 1,826 sq ft of living space on a quarter-acre, 75′ wide first tier lot (one behind Gulf front) with nice Gulf views, deeded beach access, lots of recent improvements, and a 2 car garage. This first tier home was on the market for a total of 78 days, originally asking $899,000, then reduced to $799,900 before going under contract in late 2022. The property just sold for $735,000 with conventional financing, which is a healthy jump from the $230,000 the sellers paid back in 2011.
- 1085 Cape San Blas Road – This bay view cottage is located on the south Cape in the Saltworks Cabins bayside location. It’s a one room studio cottage built in 1995 with 480 sq ft living space, 1 full bathroom, and deeded bay access sitting on 1 acre of land. This property lasted all of 4 days on the market before selling for the full asking price of $425,000 cash, which more than doubled the $185,000 the sellers paid in 2020.
- 117 Polaris Drive – We’re still on the south Cape with this Surfside Estates new construction home sale. This 3 bedroom, 2 bathroom home has 1,285 sq ft of living space and sits on a 90′ wide, quarter acre interior lot just off Cape San Blas Rd, with deeded beach access a short walk away. The unfurnished residence was on the market for 157 days asking $599,900 before selling this week for $555,000 with conventional financing. The sellers purchased the vacant lot from a bank back in 2013 for $22,000, and they just completed the construction project in late 2022.
- 229 Blue Heron Drive – Moving on up to the north Cape, this 2 bedroom, 2 bathroom cottage is located in the Sandbar Bay subdivision just behind Coneheads Restaurant right before the St. Joe Peninsula state park. This 1992 home has 1,050 sq ft living space and sits on a 105′ wide, half acre lot which backs up to the state park with bay views and bay access. The property came on the market at the beginning of this year asking $439,000, and after only 4 days it went under contract and just sold this week for $430,000 with conventional financing. The sellers had owned this address since 2001 when they paid $115,000 for the property.
- Lot 45 Rosemary Court – Now we’re onto the land sales, this vacant lot is located in the Jubilation gated subdivision on the south Cape. This 0.09 acre lot measures 50′ wide and has access to the beach, community pool and clubhouse with underground utilities in place. After 139 days on the market with a price tag of $140,000, this interior lot just sold for $128,000 cash, which is up from the $70,000 the sellers paid in 2021.
- 9627 CR 30-A – This RV-friendly lot is located in the Palmetto Creek subdivision off CR 30-A near the Gulf and Franklin county line. The interior lot measures 0.33 acres with a pole barn, septic, power and water already in place. This parcel was on the market for 71 days asking $179,900 before selling for $160,000 cash. The seller purchased the vacant property in 2021 for $74,500 before building the pole barn and installing utilities.
Keeping up with the recorded sales, there were 6 new contracts executed in the past week in our comparative market, 5 were residential and 1 was a vacant lot. 2 more vacant lot listings expired, and there was 1 price reduction to report on a residential listing as well.
9 new listings were added to the inventory count since our last update, which breaks down to 4 new residential listings (1 already under contract) and 5 new vacant lot offerings. Our total residential inventory is down 2 to 30 properties for sale, and our vacant land inventory count is up 4 to 82 lots for sale on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor. That’s our weekly update, let me know if I can help you buy or sell in our beaches market, (850)899-8765 or [email protected].
There’s a pretty big football game this Sunday, let’s hope it’s a good one. Also lots of fun events upcoming in the second half of February on the Forgotten Coast, including a couple of Mardi Gras parades in Port St. Joe and Apalachicola and a gumbo cook-off in Mexico Beach next Saturday, February 18th. Have a great Super Bowl and Valentine’s Day!
Sunrise over St. Joe Bay