It’s the first week of December, and our comparative real estate market is adding a few more recorded sales and a couple of new contracts to the 2024 tally before we get to the holidays. We can also report a slight drop in inventory levels due to a number of expired and withdrawn listings at the end of November. More details below on the 3 recorded sales from this week followed by additional market stats from Cape San Blas, Indian Pass, and the CR/SR 30-A corridor:
- 172 Louisiana Lane – First up is this beachfront residential property located on the south Cape in the Beachside subdivision next to Surfside Estates. The home was built in 2001 with 3 bedrooms, 3 bathrooms, and 3,094 sq ft of partially furnished living space on a 50′ wide, 0.62 Gulf front lot. The lengthy 2+ year listing term began back in fall of 2022 when this property hit the market asking $1,999,000, followed by reductions down to the recently appraised value of $1,350,000. The listing went under contract in October and ended up selling for $1,050,000 cash. The selling family had owned the vacant lot and home for over 25 years, further back than the online tax records show.
- 292 Pebble Beach Avenue – Right down the road on the south Cape is this Gulf front vacant lot in the Surfside Estates HOA and neighborhood. The lot measures 70′ wide and 0.89 acres with access to the community pool and beach boardwalks right next door and approved house plans to build with a FL DEP permit. The lot also borders some common-ground HOA property ensuring no nearby neighbor on the east side of the property with panoramic Gulf front views. This listing lasted only 17 days on the market asking $799,000 before going under contract and selling for $745,000 cash, which is up from the $649,000 the sellers paid in February of this year.
- Lot 13 Waters Edge Drive – This vacant lot is located in the Waters Edge subdivision and HOA just off the CR 30-A corridor near the Cape turnoff. The interior lot is 0.24 acres total with 75′ of road frontage, and features deeded beach access across CR 30-A and HOA amenities which include the community pool and tennis court. The listing was priced at $72,000 and went under contract within 3 days, selling for $67,000 cash. The sellers purchased this vacant lot in 2020 for $31,000.
2 bargain-hunting buyers got some early holiday shopping done this week as a first tier home near Indian Pass and a Gulf view lot on the north Cape are now under contract. 9 sellers offered some holiday discounts to potential buyers with price reductions, while 6 more sellers withdrew their active listings, and 12 listings expired at the end of November.
An even split of 3 residential properties and 3 vacant lots were added to our comparative market inventory levels, which are slightly down due to the recent withdrawals and expiration’s. There are now 110 homes for sale in our relevant market, which is down 8 from last week, while 101 vacant lots are available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor, which is down 6 from our previous update. Thanks again for checking in, let me know anytime I can help with your real estate needs. The holiday events are starting to stack up down here on the Forgotten Coast – a good way to keep up with the local schedule is on the Gulf County TDC events calendar. Have a great weekend!
