The first full week of 2025 was a chilly one on the Forgotten Coast with a couple of new contracts to report and more than a few listings coming back on the market after recent expirations. Interest rates continued to inch upwards this week to right around 7%, continuing the trend we’ve seen since mid-September thanks to inflation and debt concerns. Hopefully we’ll see some stabilization and cuts coming soon, although I haven’t read any recent forecasts projecting rates to be below 6% for all of 2025. Meanwhile there were no recorded sales to report for all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor from the past 7 days through our MLS.
The 2 new contracts executed within the past week were on a beachfront home in the Two Palms subdivision on the south Cape and a pond-front condo in the Barrier Dunes HOA on the north Cape. There were also 6 more price reductions updated in our comparative market MLS since our last update.
The biggest jump of this first full week of 2025 is new listings, as 15 were added to our relevant inventory (total of 12 residential listings and 3 vacant lots). 10 out of these 15 new listings had recently expired at the end of 2024, as our inventory levels are returning to their December 2024 ranges. There are currently 106 residential properties for sale and 97 vacant lots available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Thanks as always for keeping up and let me know anytime I can help. Have a good weekend and stay warm!
Chilly January sunset over the head of St. Joseph Bay