Fall is in the air this week on the Forgotten Coast, as the cooler temperatures have arrived with sunny skies, just in time for another big weekend of live music. The cool breezes have blown in a few more buyers this week, and we’re starting to see a little more consistent buying activity in our comparative market so far in October. While we have noticed an increase in new contracts, only 1 previously executed contract made it to closing this week from all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor, here are the details:
- 4256 SR 30-A – This RV lot is located between the Cape turnoff and Simmons Bayou just off the SR 30-A corridor, and the property includes a couple of small utility buildings with all utilities connected and bay views across the street. The 1/2 acre lot measures 100′ in width and was on the market for 66 days asking $229,000 before selling for $220,000 cash. The sellers paid $225,900 for the vacant lot in spring of 2022.
7 newly executed contracts is the most we’ve seen in one week since late July in our relevant market. It’s starting to feel like we are gaining some market momentum now that we’ve seen 17 contracts executed so far in October, the most new contracts in a 3 week span since early spring. 12 more sellers got into the fall spirit by reducing list prices in the past 7 days in our comparative market.
Inventory levels are creeping down lately, with only 4 new residential listings and 3 new vacant lots (1 already under contract) added to our MLS this week. The highest residential inventory level we’ve seen in 2024 was in mid-August, when 149 homes were on the market on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. This week, our residential count is down to 124 properties for sale. As for vacant lots, the annual high for our inventory was in mid-September when 133 lots were for sale. This week our vacant lot inventory sits at 114 lots available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. That’s all for this week’s update, thanks for checking in and let me know anytime I can help, (850)899-8765 or [email protected]. If you’re in town, enjoy the Blast On The Bay Songwriters’ Festival.
