Skip to content

Cape San Blas Real Estate Week in Review, May 4 - May 10, 2024

Published on May 10, 2024 by Chris Petrie under Cape San Blas, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate, Week In Review

For Sale and Sold

This past week provided an early preview of the summer heat and humidity which was followed by a storm front on Friday to cool things off a bit for Mother’s Day weekend.  After a hot start to the month of May, our comparative real estate market also cooled off a bit this week with only 3 new contracts to report on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor to go along with 1 recorded sale.  Details are below, followed by another healthy dose of price reductions and new listings.

  • 146 Boardwalk Avenue – The one and only residential sale of the week comes from the Boardwalk subdivision on the south Cape.  This 1986-built home has 2 bedrooms, 2 bathrooms, and 1,296 sq ft of living space with some nice recent improvements.  The home sits entirely in the X flood zone (no flood insurance required due to higher elevation) on a 78′ wide, 0.18 acre lot with a short walk down the road to the community pool and beach access boardwalk.  The fully furnished turnkey vacation rental generated $44K in GRI last year, and the listing lasted 44 days on the market with an asking price of $625,000.  The residential property just sold for $600,000 with conventional financing, which is up from the $485,000 the sellers paid in late 2021.


2 new residential contracts and 1 new vacant land contract are the only fresh transactions to report from our comparative market within the past 7 days.  6 different sellers decided to withdraw active listings from our MLS this week (3 lots and 3 homes), another vacant lot listing expired, and 10 more sellers reduced asking prices in anticipation of the upcoming summer season.  Unfortunately another one of last month’s residential contracts was just cancelled by the buyer, which landed this south Cape residential property back on the active market with a lower asking price.


Inventory levels are on the rise once again with 10 residential listings and 6 vacant land listings added to our comparative market MLS since our last update.  Residential listings are up 8 this week to 121 homes for sale while vacant land offerings are up 4 to 124 lots available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor.  I hope all the moms out there have a nice weekend, and don’t forget about the Tupelo Honey Festival next Saturday, May 18th in Wewahitchka.  Let me know anytime I can assist, (850)899-8765 or [email protected].

Live oak and palm canopy on north St. Vincent Island shoreline

Be the first to comment

Thanks for leaving a comment. If you are new to leaving comments on my site, it will have to be approved before being posted.

Subscribe to the  Cape San Blas Blog

Follow along weekly from the convenience of your inbox.

Thanks for reaching out! I'll be in touch soon!

Coastal Realty Group
REALTOR logo Multiple Listing Service logo Equal Housing Opportunity logo

Property information provided by the REALTOR'S® Association of Franklin and Gulf Counties, Inc.. IDX information is provided exclusively for consumers personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is deemed reliable but is not guaranteed accurate by the MLS.

© 2024 Chris Petrie. All Rights Reserved.

Privacy Policy Site Map