Some warmer temperatures arrived at the beach this week after a chilly start to the year, and our early 2024 real estate market is moving at a steady pace towards what should be a busier upcoming spring season. Not quite as many new contracts to report this week compared to our last two updates, but we’re still seeing some decent activity considering the time of year. There were 2 recorded sales in the past 7 days on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor, below is a brief summary of each with more information to follow…
- 430 Jubilation Drive – Our first recorded sale of the week is this beachfront home from the Jubilation community on the south Cape. The house was built in 2007 with 4 bedrooms, 4 bathrooms, 3,694 sq ft living space, and was sold fully furnished sitting on a 55′ wide, 1.24 acre Gulf front lot. The HOA features a community pool and clubhouse with a gated entry, paved neighborhood roads with street lights. This second home was on the active market for 118 days, originally asking $1,850,000 before being reduced down to $1,699,900. The property just sold for $1,650,000 with conventional financing, which is a nice gain for the seller who paid $1,150,000 in 2020.
- 135 Las Brisas Lane – Here’s another residential sale from the south Cape, this Gulf view home is located in the Villa Del Sol HOA with a community pool, Gulf and bay access, and pickle ball courts. The fully furnished turnkey rental home was recently built in 2022 with 3 bedrooms, 3.5 bathrooms, and 1,792 sq ft of living space sitting on a 55′ wide, 0.12 acre lot. The property was listed for sale last July asking $899,000, then reduced to $849,000 in October, and after 142 total days on the MLS the listing sold for $860,000 with non-conventional financing which included a credit to the seller for $33,700. The seller owned this house for just over 1 year, as she purchased the unfurnished, new construction home in late 2022 for $660,000.
The 3 new contracts executed in the past 7 days in our comparative market include 2 residential contracts and 1 vacant land contract. 2 more listings were voluntarily withdrawn from the active market (1 townhome and 1 vacant lot). The most notable number of the week goes to price reductions, as sellers reduced asking prices on 9 residential properties and 4 vacant lot listings. Once again a new contract from our previous update was cancelled this week, putting this SR 30-A home back on the active market.
Not quite as many new listings arrived on our MLS this week, with only 3 beachfront residential properties added to our comparative market inventory. As a result our residential inventory is up 1 from last week to 81 properties for sale, while vacant land is down 2 to 98 lots available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Our inventory levels have remained consistent for the month of January, we’ll see if they start to increase a bit more next month. Thanks as always for keeping up with the weekly real estate blog, let me know anytime I can be of service, (850)899-8765 or [email protected]. Don’t forget about the Jr. Service League Chili Cook-Off and Car Show this Saturday at noon in Port St. Joe – have a good one!