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Cape San Blas Real Estate Week in Review, March 30 - April 5, 2024

Published on April 5, 2024 by Chris Petrie under Cape San Blas, Forgotten Coast, Indian Pass, Real Estate, Week In Review

For Sale and Sold Sign

April is here, and this past week has been the busiest of the season so far for spring break traffic and vacation rentals in the area.  It was also a busy week in the local real estate market, with a generous number of recorded sales and new listings, plenty of price adjustments, and a few more new contracts to report.  Below are brief reviews of the 6 recorded sales from the past 7 days from all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor, with new activity reports to follow:

  • 493 Secluded Dunes Drive – The first residential sale of the week is one of 4 new construction spec homes built by DR Horton in the new Sea Breeze at Secluded Dunes mini-subdivision on the north Cape.  This home has 4 bedrooms, 4 bathrooms, and 2,541 sq ft of unfurnished living space with bay and Gulf views from a 0.43 acre lot.  The property also offers a deeded neighborhood beach access a short walk away.  This recently built home was originally asking $1,395,000, reduced to $1,245,000, and after 71 total days on the market it sold for $1,245,000 with conventional financing.  The home site was included in a bulk purchase by DR Horton for $1,491,000 in 2023 for all 4 properties and common ground in the Sea Breeze subdivision.
  • 497 Secluded Dunes Drive – Here’s the second of three new construction spec homes sold in the Sea Breeze at Secluded Dunes subdivision this week.  This north Cape property also offers 4 bedrooms, 4 bathrooms, and 2,541 sq ft of unfurnished living space with Gulf and bay views.  Same specs with deeded beach access on a 0.42 acre lot, and this property was originally listed for sale with an asking price of $1,295,000 which was reduced down to $1,145,000.  After 70 total days on the market the unfurnished spec home sold for $1,100,000 with conventional financing.
  • 503 Secluded Dunes Drive – The third DR Horton spec home sold in the Sea Breeze subdivision on the north Cape has the exact same specs as the previous two, with 4 bedrooms, 4 bathrooms, and 2,541 sq ft of living space with Gulf and bay views from a 0.42 acre lot.  This new construction property was listed for $1,290,000 before being reduced down to $1,145,000, and after 70 days on the market it sold for $1,100,000 with conventional financing.  All 3 of these properties were included in the DR Horton bulk purchase of the Sea Breeze at Secluded Dunes subdivision for $1,491,000 in June of 2023.
  • Lot 19 Sapodilla Lane – On to vacant land sales for the week, where we’re still on the north Cape, now in the Sunset Pointe subdivision next to the state park.  This Gulf front lot measures 96′ wide on the beach and 0.51 acres, and it just sold for $1,500,000.  This lot was entered into our MLS as a sold comp, so it was never an active listing with any days on the market.  The sellers purchased the property in 2005 for $1,467,000.
  • Lot 5 CR 30-A – The next vacant lot sale is a Gulf view property located on the north side of the CR 30-A corridor next to the Water’s Edge subdivision, close to the Cape turnoff.  This first tier lot is located close to a public beach access and measures 50′ wide and 1.5 acres, which includes some extensive wetlands on the north side of the property. The parcel was on the market for 123 days this year before selling for the full asking price of $134,500, which is up from the $40,000 the seller paid in early 2021.
  • Lot 22B CR 30-A – Here’s another vacant lot sale on the north side of the CR 30-A corridor, this one is located in the Treasure Shores neighborhood to the west of the Indian Pass turnoff.  This 50′ wide, 0.42 acre lot is within walking distance to a public beach access off Hall and Lee Street near Money Bayou, and it was on the market for 119 total days, originally asking $119,000 before being reduced to $99,000.  The Gulf view lot just sold for the full asking price of $99,000 cash, which is down from the $126,500 the sellers paid in 2008.


7 new contracts have been executed in our comparative market in the past 7 days, 6 were for vacant lots and only 1 new residential contract.  We also can report 1 recent contract being cancelled, putting this residential property back on the active market.  With our current market inventory swelling this year, properties are staying on the market longer than what we’ve been accustomed to seeing over the past couple years.  More and more sellers are adjusting expectations and asking prices this spring as a result.  14 properties recorded price reductions this week in our comparative market MLS, which breaks down to 5 vacant lot adjustments and 9 residential discounts.  There were 4 more listings which expired, no longer listed on the active market.


A total of 11 new properties were added to our Cape, Pass and 30-A inventory this week, the sum of 5 new residential listings and 6 new vacant land listings.  Residential inventory is up 2 this week to 106 homes for sale, while vacant land inventory is down 2 to 115 lots available on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor.  That’s another weekly update, thanks again for tuning in, let me know anytime I can help, (850)899-8765 or [email protected].  Have a good one!

Backyard photo from a new north Cape bayfront residential listing this week

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