Thanksgiving is fast approaching, and a few more buyers made reservations for some nice deals this week in our comparative real estate market of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Details on the one and only recorded sale from the past 7 days are below, followed by some additional info on new market activity:
- 7010 CR 30-A – The only recorded residential sale of the week is a Gulf front rehab project located just off the CR 30-A corridor between Gulf Pines and Treasure Shores neighborhoods. This 3,004 sq ft home was built in 1992 with 5 bedrooms and 3.5 bathrooms, but it sustained lots of wind and water damage during Hurricane Michael in 2018. The property has been waiting for a contractor since then, and needs significant repair and improvement. The empty home sits on a 100′ wide, 1.24 acre beachfront lot, which the selling family purchased back in 1989 for $61,000. This listing was on the MLS for 371 days with an initial asking price of $1,500,000 which was lowered to $1,399,000 before going under contract in October. A building contractor just closed on the property for $1,085,000 with conventional financing.
After 4 straight weeks of minimal new activity, our comparative market woke up just in time for Thanksgiving and produced 5 newly executed contracts during the past 7 days. The new contracts were on 2 bayfront homes, 1 north Cape condo, and 2 interior vacant lots. 9 more sellers trimmed their asking prices for some future holiday shoppers, here’s a link showing all 9 price reductions.
3 residential listings and 4 vacant lots (1 already under contract) were added to our relevant inventory counts during the past 7 days. We saw a couple more listings expire and cancel, which yet again keeps our inventory levels consistent with 119 homes listed for sale and 106 vacant lots available on all of Cape San Blas, Indian Pass, and the connecting 30-A corridor. Let me know anytime I can help, (850)899-8765 or [email protected]. I hope everyone has a great Thanksgiving holiday with family and friends!
