Here we go right into 2025 after finishing up 2024 with a fairly quiet December for real estate transactions on the Forgotten Coast. One previous contract did make it to closing this week, and there was another new contract to report in our comparative market of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor.
- 4370 Ebbtide Lane – The one and only recorded sale this week is this north Cape townhome which has deeded beach access with Gulf and bay views. The property was built in 1985 and was recently remodeled with 2 bedrooms, 2.5 bathrooms, and 1,276 sq ft of living space. The fully furnished turnkey rental unit sits on a 0.17 acre lot in the X flood zone and generated just over $36K GRI in 2023. The listing was originally priced at $649,900 and was reduced down to $575,000 before going under contract after 252 total days on the market. This property just sold for $545,000 with conventional financing, which is a nice gain for the sellers who purchased in 2019 for $232,500.
The lone new contract from the past 7 days is for a vacant bay view lot in the Ovation subdivision on the north Cape. We also are reporting a cancelled residential contract this week, putting this bayfront home in the Marnie Island Preserve subdivision back on the active market. Otherwise, there were a plethora of expired listings at the end of the year which took a dent out of our inventory. Many of these expired listings will likely be back on the active market soon, so we’ll see how quick our inventory levels swell in early 2025.
2 residential properties were added to our comparative market MLS just before the new year. After all the recent expired listings, our residential inventory dropped down to 96 homes for sale, while our vacant land inventory shrunk to 94 lots available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. I should have some interesting 2024 year-end statistics and market summary available for review next week, please let me know if I can be of assistance in the meantime. Happy New Year, enjoy the weekend!
