The last full week of July seems to be riding some recent market momentum after a slow start to the month. It was another productive week for new contracts in our comparative market, while 2 previously executed contracts made it to closing in the past 7 days on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Details from the recorded sales are below, followed by a summary of the new market activity.
- 162 Hartley Lane – The first residential sale from this past week is high-end first tier home from the north Cape. This Gulf view vacation home was built in 2018 with 5 bedrooms, 4 full bathrooms and 2 half-baths, and 3,530 sq ft of fully furnished living space. The turnkey vacation rental also has a private pool and a recent GRI of over $120K last year. Nice Gulf views are available from this 99′ wide, 0.34 acre X zone lot with an easy deeded beach access. This property was on the market for 47 days asking $1,925,000 before going under contract and selling for $1,837,500 with assumed financing. The sellers owned this home for 3 years after they purchased for $1,675,000 in 2021.
- Lot 9 CR 30-A – This vacant lot is lagoon and marsh-front in location just off the CR 30-A corridor towards the Franklin County line in the Pass View subdivision. The property measures 80′ wide and 0.71 acres including marsh and wetlands, and the site will provide nice lagoon views from a future elevated home. The listing was on the MLS for 56 days asking $85,900 before selling this week for $82,000 cash, which is up from the $59,000 the seller paid in 2021.
8 newly executed contracts is the most we’ve seen in our comparative market in one week since early May. In fact, the 6 new contracts from last week combined with 8 more new contracts this week total the highest number of new contracts recorded in back-to-back weeks in all of 2024 to date for the Cape, Indian Pass and 30-A corridor. Let’s hope this bump in activity level continues as we wind down the summer season. There is an increasing number of nice opportunities for prospective buyers as 8 more sellers decided to reduce asking prices this week in our relevant market. There was also 1 cancelled contract since our last update, a new construction DR Horton spec home in the Redfish Cove north Cape subdivision which went under contract in late June is now back on the active MLS market.
Just a handful of new offerings were added to our comparative market inventory this week with 3 residential listings and 2 vacant lots entered into our MLS. Resulting from the higher number of new contracts and a couple more expired listings, both land and residential inventory is down from last week. There are now 141 homes listed for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor (down 3), and 117 vacant lots available (down 1 from last week). Be sure and check back next week to see how our local real estate market responds as we roll into August. Thanks for reading and let me know anytime I can help with any of your real estate needs, [email protected] or (850)899-8765.
Fisherwoman ready to make a cast with a topwater plug near Indian Pass