It’s hard to believe that 2023 is just about over, as we’re wrapping up the year with an abbreviated work week between the holidays. This will be another short and sweet update with not too much new activity to report in our comparative market of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. There was only 1 recorded sale through our MLS to report since our last update, but there were also a few new contracts which are always good to see this time of year.
- Lot 6 McCosh Mill Road – Our 1 and only sale this week was a Gulf front vacant lot located in the Piney Woods subdivision on the south Cape. It measures 50′ wide and 0.96 acres due to the buildable area being set back from the beach in this location. The Piney Woods HOA features a community beach boardwalk and pool with annual dues of $600. This property was on the market for 77 days asking $534,900 before selling for $515,000 cash just before the end of the year. The seller was one of the original developers of Piney Woods who platted and developed the 40 lot subdivision back in 2004.
I’ll consider the fact that we can report 3 new contracts during this busy, holiday-filled week a good omen for our comparative market in 2024. The contracts were on a Gulf front lot on the south Cape, a Gulf view home on the south Cape, and an RV lot off SR 30-A. 2 more residential listings were withdrawn from the active market, and for the first time in a long time, no price reductions in the past 7 days.
The only new listing entered into our comparative market MLS this week was a Gulf front lot on Indian Pass. Our vacant land inventory is down 1 from last week to 101 lots for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Meanwhile our residential inventory is down 3 to 79 properties available in our comparative market. This comes after 6 consecutive weeks of being in the 80s, which were the highest residential inventory counts of the year. As we approach the end of 2023, I’m feeling more optimistic about our real estate market than I was a couple of months ago. Our limited inventory is slowly improving, interest rates are moving in the right direction, and there seems to be more consumer confidence nationwide. I’m also feeling very appreciative for all the readers and subscribers who continue to check in on this blog for weekly updates on our Cape, Pass and 30-A market. I hope everyone has a Happy New Year! Let me know anytime I can be of service in 2024, [email protected] or (850)899-8765.