It’s already December 8th, and it’s been another week of underwhelming activity in our comparative real estate market of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. It’s important to keep in mind that at this time last year we were experiencing similar market conditions before the new year – very few new contracts and minimal recorded sales. One significant difference in our current market conditions when comparing to December 2022 is the residential inventory level which has more than doubled, while vacant land inventory has remained relatively consistent. We’ll start with a review of the only recorded sale through our MLS from the past 7 days, and wrap up this brief update with some price adjustments and new listings.
- Lot 12 CR 30-A – vacant, interior lot located on the north side of CR 30-A in the Money Bayou/Sweetwater Shores neighborhood; lot is mostly cleared, measures 70′ wide and 0.31 acres with an established driveway and nearby public beach access; property was on the market for 139 days asking $149,900 before selling for $142,000 with assumed financing; sellers have owned the lot since 2001 when they purchased for $42,000
The only new contract from our comparative market this week was actually a back-up contract which became effective when the prior contract was cancelled on this beachfront house in the Jubilation subdivision on the south Cape. A couple more listings expired since our last update, while 2 more were voluntarily withdrawn from the active market. Meanwhile 3 sellers decided to adjust their asking prices, 2 opted for price reductions while 1 increased the list price.
3 new residential listings and 5 new vacant land listings were added to our inventory counts since our last weekly update. This brings our residential inventory up 2 from last week to 84 properties available, while vacant lots are up 3 to 97 listings for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. For perspective purposes, at this time last year there were 35 residential listings available and 94 vacant lots for sale. Let me know anytime I can help in the future – (850)899-8765 or [email protected]. If you’re in town this weekend, the Port St. Joe Garden Club is hosting their Christmas in the Garden event on Saturday from 8-1 EST at 216 8th Street, and don’t miss the Christmas on the Coast annual parade beginning Saturday evening at 6 pm. Have a nice weekend!
Aerial view towards St. Vincent Sound, St. Vincent Island, and eastern tip of Indian Pass