One week after Hurricane Helene made landfall near the big bend of Florida, our area continues to send thoughts, prayers, and relief efforts to those in need to our east. The Forgotten Music Festival is scheduled for this Saturday and Sunday in Port St. Joe, and organizers are accepting donations and supplies at Point South Marina this weekend to be delivered to Sea Hag Marina in Steinhatchee, FL (details on recommended donation items on website links). Meanwhile in our local real estate market, the end of September delivered quite a few expired listings to go along with some significant price reductions and an uptick in new contracts. Details below on our one and only recorded sale from the past 7 days on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor, followed by some early October market stats:
- Lot 1 SR 30-A – Our first recorded sale from the past 7 days was this 2 acre vacant lot directly off SR 30-A near the Cape turnoff, adjacent to the Marnie Island Preserve gated subdivision. The buildable area is significantly smaller due to wetlands, marsh and appropriate setbacks, but this buildable lot will offer nice unobstructed bay views and a nearby public beach access at Salinas Park. The property was on the market for 196 total days with the original asking price of $174,000 reduced down to $138,900 before going under contract and selling this week for $100,000 cash. The selling family had owned the property since 2021 when they paid $70,000.
5 new contracts in one week is as many as we have seen in our comparative market since late July. The potential sales volume of the 5 new contracts is especially impressive this week, coming in at $7,796,000 in total asking prices, mostly due to a couple of high-end Gulf front homes on Cape San Blas which are now under contract. There were 11 expired or withdrawn listings after the end of September, and 9 total price reductions recorded this week, which included a few significant residential reductions worth checking out.
Our inventory levels have been trending down over the past few weeks, although a healthy portion of those properties no longer available have either been withdrawn or expired. After 3 new listings were added to our comparative market inventory this week (one of which is already under contract), our vacant land inventory is down 4 to 127 lots for sale, while our residential inventory is down 8 to 125 homes for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Thanks for checking in on the weekly update and let me know anytime I can be of service, (850)899-8765 or [email protected]. October has lots of great live music in store for the Forgotten Coast, beginning this weekend with the Forgotten Music Festival, followed by Porch Fest in Apalachicola on October 12th, and finally the Blast On The Bay starting October 17th.
