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Cape San Blas Real Estate Week in Review, September 30 - October 6, 2023

Published on October 6, 2023 by Chris Petrie under Cape San Blas, Forgotten Coast, Indian Pass, Real Estate, Week In Review

For Sale and Sold Sign

October is here, and we’ve got some cool weather in the forecast for this weekend which will be a welcome respite after the long, hot summer.  It’s been a relatively encouraging week in our comparative real estate market with an increase in new contracts while inventory levels are once again holding steady.  There were 4 recorded sales from the past 7 days on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor, below is a brief review of each:

  • 6135 Cape San Blas Road – The one and only recorded residential sale since our last update is this Gulf view home in the Rosemary Dunes subdivision on the north Cape.  The fully furnished, turnkey rental home was built in 2015 with 3 bedrooms, 3 bathrooms, 1,920 sq ft and a private pool with a history of $70K gross rental income last year.  The house sits on a 40′ wide, 0.14 acre lot which is located entirely in the X flood zone (no flood insurance required due to higher elevation) with Gulf views and neighborhood deeded beach access.  This property was on the market for 62 days with a price tag of $1,200,000 before selling for $1,100,000 cash, which is up from the $401,500 the sellers paid for the new construction, unfurnished home without a pool in 2015.
  • Lot 17 Park Point Circle – Our first lot sale of the week comes from the Park Point gated community on the north Cape near the St. Joseph Peninsula state park.  This interior lot measures 55′ wide on the roadside, 0.24 acres, with bay and Gulf views possible from a future elevated home site.  The Park Point HOA offers a community pool and clubhouse with neighborhood deeded beach access.  This listing was only on the market for 3 days asking $173,000 before going under contract and selling for $175,000 cash, which is higher than the $160,000 the sellers paid in March of this year.
  • TBD Indian Pass Road – Next up is this 53′ wide Gulf front vacant lot on the Indian Pass peninsula.  This property measures 1.17 acres from the beach to the road and offers the opportunity for multiple residences to be built on the property.  This lot does have some isolated wetlands and was on the market for 32 days asking $549,000 before selling for $509,999 cash this week.  The sellers paid $385,000 for this vacant property in 2003.
  • 9085 CR 30-A – Last but not least is this 6.5 acre parcel located on the north side of the CR 30-A corridor past the Indian Pass Raw Bar towards the Franklin county line.  The property measures over 490′ in width and is zoned mixed use residential/commercial with a density of 4 units per acre.  There are some isolated wetlands on the property, and it was on the market for 388 days asking $279,000 before going under contract in early August.  The vacant lot just sold for $200,000 cash which goes down as another gain for the sellers who paid $29,300 back in 1996.


There were 8 new contracts negotiated and agreed on by buyers and sellers this week, which is the most we’ve seen in a blog update since early July.  The number of new contracts were a product of 5 vacant land contracts and 3 residential contracts executed.  Countering the 8 new contracts was another cancelled contract, as this Gulf front lot is back on the active market.  One more high-end residential listing was withdrawn from the active market, while 2 more listings expired after months on our MLS without a successful contract.  No real estate update is complete without some price adjustments these days, this week there were 3 price reductions to report in our comparative market.


6 new listings don’t quite keep up with the 8 new contracts for this first week of October, as there were 4 new residential listings and 2 new vacant land listings (1 already under contract) added to our inventory.  Our residential inventory is down 1 from last week to 74 properties for sale, and our vacant land inventory is down 2 to 93 lots for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor.  Enjoy the cooler weekend and let me know anytime I can help, (850)899-8765 or [email protected].


It’s a busy weekend in Gulf county, as the 5th annual Forgotten Music Festival headlines Port St. Joe on Saturday and Sunday.  The Salt Air Farmers’ Market is also back in town on Saturday from 9 am -1 pm ET, and the Friends of St. Joseph Bay Preserve are hosting their Fall Bay Day at the Visitor’s Center from 8 am – 4 pm ET.  On the north end of the county, the city of Wewahitchka is having their 2023 Fall Festival from 9 am – 4 pm CT .  Have a good one!

Indian Pass in the distance

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