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Cape San Blas Real Estate Week in Review, November 11 - November 17, 2023

Published on November 17, 2023 by Chris Petrie under Cape San Blas, Forgotten Coast, Indian Pass, Real Estate, Week In Review

For Sale and Sold Sign

Some stormy conditions blew through Gulf, Franklin and Bay counties this week, and our real estate market kept rolling along at a slow but steady pace with 3 new contracts and 5 recorded sales as we get ready for what should be a nice Thanksgiving week at the beach.  We’ll start with a brief review of the recorded sales through our MLS from Cape San Blas, Indian Pass, and the CR/SR 30-A corridor within the past 7 days (3 residential sales and 2 vacant lots):

  • 4911 Cape San Blas Road – north Cape beachfront residence sitting on 2.43 acres, 127′ of Gulf frontage, density for 7 potential building sites, house built in 1986 with 3 bedrooms, 2 full baths, 2 half baths, 1,872 sq ft in need of a little TLC;  on the market for 107 days asking $4,100,000 before the estate sale closed this week for $3,500,000 cash;   sellers have owned the property since 1982, when they bought the vacant parcel for $30,000
  • 110 Boardwalk Avenue – south Cape residential sale in the Surfside Estates/Boardwalk HOA, interior home built in 1988 with 3 bedrooms, 2 bathrooms, 1,458 sq ft furnished living space, new roof and other recent improvements, HOA offers community pool and deeded beach access via boardwalks, gross rental income of $32K in 2022;  property was on the market for 58 days starting at $639,000 then reduced to $599,000 before selling for $587,000 cash;  sellers purchased property for $300,000 in 2018 before improvements
  • 198 Club Drive – south Cape residential beachfront townhome sale in the Dunes Club of Cape San Blas, built in 2004 with 3 bedrooms, 2 bathrooms and 1,176 sq ft, sold turnkey fully furnished with $34K in GRI last year, HOA amenities include community pool, beach boardwalk, gated entry and elevator;  asking price was originally $625,000, reduced to $595,000, after 71 DOM the Gulf front townhome sold for $550,000 cash;  sellers purchased the attached residential property for $360,000 at the beginning of 2021
  • Lot 1 Haven Road – north Cape vacant lot in the Ocean Haven subdivision with deeded beach access, corner first tier lot with Gulf views with an irregular shape, 0.27 acres in the X flood zone;  lot was on the market for 54 days asking $410,000 and just sold for $390,000 with conventional financing;  sellers paid $335,000 back in 2004
  • 192 Canoe Lane – first tier lot off the CR 30-A corridor close to Indian Pass without a deeded beach access, measures 60′ wide and 0.16 acres with Gulf views;  original asking price of $209,900 was reduced to $189,000, after 137 total days on the market the lot sold for $175,000 cash;  sellers bought for $160,000 in 2019


All 3 of the newly executed contracts from the past week in our comparative market were on vacant lots.  We can also report 2 cancelled contracts which were penned in early November, putting both of these vacant lots back on the active market.  1 more lot listing expired, and another residential listing was withdrawn from the active market.  5 more sellers reduced asking prices just before the holiday week.


Our inventory levels are slowly growing this November, on the rise for the third consecutive week.  There were 4 new residential listings and 4 new vacant lots added to our comparative market counts since our last update.  As a result, vacant lots are up 5 from last week to 99 listings for sale, while our residential listings are up 4 to 81 properties available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor.  That does it for this week, let me know anytime I can help, (850)899-8765 or [email protected].  I hope everyone has a nice Thanksgiving holiday with family and friends.

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