It’s the week before Christmas, and with zero recorded sales from the past 7 days, this will be a brief update for our comparative market of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. In national news the Federal Reserve had their last meeting of 2024 this week and agreed on another 0.25% cut to short term interest rates. Since September the Fed has cut the Fed Funds Rate by 1.00%, but mortgage rates have only worsened since then, currently reaching their highest levels since July. Real estate economists are now saying that the trend of higher-for-longer mortgage rates should continue into 2025, but slight improvements are ahead. Meanwhile the Gulf County market got some encouraging press from an online article on Housingwire this week, which highlighted our county as a potential leading market for luxury vacation homes in 2025.
A couple of buyers did some last-minute Christmas shopping this week, and the results were 2 new contracts to report on this north Cape Gulf front home and on this first tier vacant lot on Indian Pass. Two more price reductions and an expired listing take us to our new listings for the week.
3 residential listings and 2 vacant lots were added to our comparative market inventory over the past 7 days, bringing each inventory count up 1 from our previous update. Our residential inventory now sits at 110 homes for sale, while there are 104 vacant lots available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Thanks as always for checking in, I hope everyone stays warm this weekend and has a wonderful holiday season!
