Labor Day weekend is here, marking the tail end of the peak visitor summer season in Gulf and Franklin counties. It should be a fun weekend at the beach with the Florida Scallop, Music & Arts Festival in Port St. Joe on Saturday and Sunday. This will be a brief weekly update heading into the holiday with only 1 recorded sale through our MLS in the past 7 days, and 4 more new contracts to report on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor.
- TBD CR 30-A – The one and only sale recorded in our comparative market this week was a 0.58 acre, 133′ wide vacant lot located on the north interior side of CR 30-A about 1 mile to the east of the Indian Pass Raw Bar. This lot was the result of a recent minor replat by the seller who purchased the larger 6.5 acre parent tract for $200,000 in late 2023. The recently cleared property was on the market for 175 total days asking $89,900 initially, reduced down to $59,900, and ended up selling for $53,900 with conventional financing.
There were 4 new contracts executed in our comparative market since our last update, consisting of 3 vacant lot contracts and an Indian Pass residential contract. We also saw 1 recent residential contract cancelled this week, putting this interior Shallow Reed residence back on the active MLS market. Once again we have some price adjustments to report with 11 more sellers electing to go lower now that we’re just about through August.
A healthy dose of 16 new vacant land listings were released into our comparative market this week, 12 of those vacant lots are from a recently platted Redbird Beach Subdivision on Indian Pass peninsula. As a result our vacant land inventory is up 13 from last week to 130 available lots on our MLS. Meanwhile the one and only new residential listing just so happened to be the one and only new residential contract of the week. After a few withdrawn listings, our residential inventory is down 3 from last week to 144 homes for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. That’s all for this week’s update, let me know anytime I can help at (850)899-8765 or [email protected]. Have a great Labor Day weekend!
