Some cooler temperatures signaled the arrival of December at the beach this week, as our real estate market is shaking off the effects of tryptophan after a nice holiday week. Not a lot of new transactions to report from the past 7 days in our comparative market, but the volume of the 3 new contracts is definitely noteworthy. First up is a brief review of the 2 recorded sales through our MLS this week from all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor:
- 123 Sabal Circle – north Cape attached townhome in the Barrier Dunes HOA, pond-front unit with Gulf views, built in 2000 with 2 bedrooms, 2 bathrooms, 1,244 sq ft living space on a 20′ wide, 0.02 acre lot; property sold fully furnished as turnkey vacation rental with history of $33K gross rental income in 2022; HOA includes tennis courts, community pool & clubhouse, deeded beach access & common grounds; unit 48 was on the market for 108 days asking $550,000 before selling for $530,000 with conventional financing; sellers purchased for $330,000 in 2021
- TBD CR 30-A – vacant lot on the north side of CR 30-A in the Treasure Shores neighborhood, measures 100′ wide and 0.93 acres with Gulf views and a nearby public beach access point; 14 days on the market asking $189,000, just sold for $172,000 with conventional financing; seller purchased property for $100,000 in 2021
All 3 of the new contracts executed in our comparative market within the past 7 days are residential transactions. The combined potential sales volume/list prices of all 3 new contracts is just under $7,000,000, thanks mostly to the 829 Secluded Dunes Drive listing. There was another recent contract which was cancelled, putting this south Cape residential property back on the active market. With the end of November came 4 more expired listings and another withdrawn listing no longer on the active market. We can also report 7 more residential price reductions now that the shopping season is in full effect.
On to the inventory update, 4 new residential listings and 2 new vacant land listings were added to our comparative market MLS this past week. Both land and residential counts are down 1 since our last update, as there are now 82 residential properties and 94 vacant lots for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. The weather forecast is calling for a rainy weekend in Gulf County, but there are plenty of good holiday celebrations and activities on the calendar for December. The Gulf County TDC website calendar is always a good way to keep up with local current events. Let me know anytime I can help with your real estate needs, [email protected] or (850)899-8765.
Young angler fishing an incoming tide in St. Vincent Sound