Football season is officially over, and Valentine’s Day has come and gone. Most of the past week was warmer at the beach as we’re starting to see some early signs of spring. Real estate is also warming up with a few more new contracts and some recent sales from the past 7 days in our Cape San Blas, Indian Pass and CR/SR 30-A corridor market. Below is a quick review of the 6 recorded sales:
- 458 Rhonda Del Sol Circle – Right out of the gate, here’s another Truland Home new construction sale on the south Cape in the fast-developing Villa Del Sol subdivision. It’s a 5 bedroom, 3 bathroom, 1,808 sq ft unfurnished spec home with bay views on a 0.09 acre lot featuring deeded beach and bay access, a community pool, clubhouse and pickleball courts. After 29 days on the market asking $919,000, this property just sold for $880,000 with conventional financing about 16 months after Truland Homes purchased the vacant lot from the Villa Del Sol developer for $75,200.
- 652 Seacliffs Drive – We’re up to the north Cape for this townhome sale in the Seacliffs HOA just before the St. Joe Peninsula State Park. This Gulf front unit was built in 1986 with some recent improvements, and it has 3 bedrooms, 2.5 bathrooms and 1,647 sq ft of living space. The fully furnished townhome has access to the community pool and beach boardwalk, with well-maintained green space and a playground. The attached unit was on the market for only 4 days asking $849,900 before selling for $835,000 cash, which is up from the $749,900 the sellers recently paid in April of 2022.
- 130 Gulf Hibiscus Drive – Staying on the north Cape and changing lanes to vacant land, this lot is located in the Hibiscus Beach gated subdivision which offers a community pool, gazebo, beach and bay access with a community dock. This roadside Gulf view lot measures 101′ wide, 0.29 acres, and is located in the X flood zone. The property was on the market for 15 days before selling for the full asking price of $229,900, which is up from the $155,000 the sellers paid in 2019.
- 18 Cord Grass Way – Here’s another vacant lot sale, this one is located on the south Cape in the Jubilation gated community. This HOA has a nice pool, clubhouse, community sewer lines in place, and long boardwalk to the beach. This 0.1 acre, 50′ wide Gulf view lot was listed in mid-December with an asking price of $159,000, and after 39 days on the market it went under contract. The parcel just sold for $156,000 cash, almost twice as much as the $80,000 the seller paid in 2021.
- 107 Canoe Lane – This Gulf view lot is located just to the east of Treasure Drive off CR 30-A near Indian Pass. It measures 75′ wide and 0.44 acres with a deeded beach access. The property was listed for sale in early November of 2022 with a price tag of $315,000, and after 113 days it went under contract and sold for $300,000 cash, a nice return for the sellers who purchased for $115,000 in 2018.
- 30 Shallow Reed Drive – We’ll finish the sales summary with an interior lot in the Shallow Reed subdivision off the SR 30-A corridor near Presnell’s Marina between the Cape turnoff and Port St. Joe. This property has deeded bay access across SR 30-A and measures 75′ in width, 0.25 acres. The lot was asking $48,500 for 26 days on the active market, and it just sold for $45,000 cash, another gain for the sellers who paid $25,000 in 2018.
There were 5 recently executed contracts to report this week, 3 new residential contracts and 2 new vacant lot contracts. One of the residential contracts actually includes two waterfront properties on Indian Pass being sold together. Another expired listing and a withdrawn listing, both vacant lots, are also no longer on the active market. 3 more sellers lowered their asking prices in our comparative market, one of the price reductions resulted in one of our new vacant land contracts this week.
A total of 7 new listings were added to our comparative market this past week, 4 new residential listings (1 already under contract) and 3 new vacant lot listings. Our total inventory counts are staying fairly consistent so far this year, as our residential count is down 1 from last week to 29 residential properties on the market, and vacant lots are also down 1 to 81 lot listings for sale on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor. That’s all for this week, let me know anytime I can help with any of your real estate needs, [email protected] or (850)899-8765.
Don’t forget about the annual Mexico Beach Gumbo Cook-Off this Saturday, February 18th, and the Salt Air Farmers’ Market is back in Port St. Joe this Saturday as well. We’ll roll into next week with the Forgotten Krewe Mardi Gras parade in Port St. Joe followed by a party at the Haughty Heron on Fat Tuesday, February 21. February has turned into quite a busy month on the Forgotten Coast, have a good one!
Friendly neighborhood Blue Heron on the north Cape bayside