It’s been a chilly January so far in Gulf County, FL with cooler temps and some possible snow flurries on the way next week. Our comparative market is showing signs of warmth early in the year with a few new contracts and recorded sales from all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Details from the 3 recorded sales are below, followed by additional market updates from the past 7 days.
- 109 Hemmingway Circle – The first recorded sale of the week is this 2007-built home in the gated Sunset Pointe community on the north Cape. The home has 4 bedrooms, 3 bathrooms, and 2,184 sq ft of furnished living space. The interior turnkey vacation rental sits on a 0.26 acre interior lot with deeded beach access nearby and an HOA community pool and clubhouse. The property generated just over $33K in gross rental income last year and was on the market for 52 days asking $799,900. This listing just sold for $762,000 cash, which is up from the $478,500 the sellers paid in 2019.
- 116 Cottage Lane – One more recorded residential sale this week comes from the CR 30-A corridor close to Indian Pass in the Cottages at Indian Summer HOA. This 2023-built fully furnished home has 4 bedrooms, 4 bathrooms, and 2,415 sq ft of living space with nice Gulf views from the first tier (one behind Gulf front) location. The lot measures 49′ wide and 0.25 acres, and the HOA offers deeded beach access points with a community pool and septic drainfields. This listing endured 523 days on the market, originally asking $1,250,000 and later reduced to $1,199,000 before going under contract and selling for $1,100,000 with conventional financing. The seller was the builder who purchased the vacant lot back in 2005 for $450,000.
- TBD Cape San Blas Road – The only vacant lot sale recorded this week was a south Cape bayfront property. This parcel measures 181′ wide and 1.32 acres, located on the bay side of the Villa Del Sol subdivision. This lot was entered into our MLS as a recorded comp, so it was never an active listing. It sold for $350,000 with assumed financing, which is slightly higher than the $325,000 the Villa Del Sol developer paid for the property back in late 2020.
4 newly executed contracts is the most our market has produced in a week since November 22nd. Not a bad potential sales volume for the 4 new contracts either, totaling $5,043,898 in asking prices for the 3 waterview homes and 1 vacant bayfront lot. 5 sellers reduced asking prices since our last weekly update and 3 more listings expired.
The addition of a few more new listings will finish up this blog entry as 4 residential offerings and 5 vacant lots were entered into our comparative market MLS this week. That puts our residential inventory at 105 homes for sale and vacant land at 100 lots available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Thanks again for checking in and let me know anytime I can help. There are some popular local cook-offs and parades coming right up in the next month or so, starting with the Port St. Joe Junior Service League Chili Cook-Off next weekend, make your plans and have a good one!
