Now that we’re into March, the busier spring break season is almost here. We should start noticing a significant increase of visitors and renters over the next several weeks, and time will tell if this will also result in more buyers. Even though new activity tapered off a bit this first week of March, we’ve noticed an upward trend in our comparative market so far in 2025. There were only 8 new contracts executed in January, and that number ballooned to 21 new contracts in February this year. Hopefully this trend will continue into March as we are also noticing a few more new listings coming on the market in anticipation of the spring season. On to the recorded sales from the past 7 days, here’s a brief summary of all 5 from the Cape San Blas, Indian Pass, and the CR/SR 30-A corridor market:
- 135 Sandlewood Blvd – The first residential sale of the week is this north Cape 2006-built home in the Peninsula Estates subdivision. The home features 5 bedrooms, 3.5 bathrooms, 2,548 sq ft of fully furnished living space, and an upper deck with Gulf and bay views. The house sits on a 75′ wide, 0.34 acre lot with deeded beach and bay neighborhood access. After only 3 days on the market asking $749,000, this property sold for $740,000 with conventional financing. The sellers purchased the property in spring of 2022 for $880,000.
- 129 Shallow Reed Drive – Next sale is this interior home in the Shallow Reed Phase I neighborhood just off SR 30-A between Presnells Marina and the St. Joseph Bay Gulf Club. The almost new home was built in 2023 with 3 bedrooms, 2 full baths, a garage and 1,429 sq ft of living space. This listing came on the market at the beginning of February and went under contract the same day with an asking price of $439,900. The home just sold for $400,000 cash, 4 years after the sellers purchased the vacant lot for $35,000.
- Lot 18 Shallow Reed Drive – We’re still in Shallow Reed Phase I, but transitioning from residential to vacant lot sales for this interior property just off SR 30-A. This 0.25 acre lot is already cleared and located entirely in the X flood zone. The listing was on the market for 327 total days with an asking price of $79,900 which was reduced down to $69,000 before going under contract. The lot just sold for $60,000 cash, which is slightly up from the $55,000 the sellers paid in spring of 2022.
- 2452 SR 30-A – The second vacant land sale of the week is this 2.85 acres parcel which is located just off SR 30-A in the Simmons Bayou area, between the existing RV mini-subdivisions. This property measures 315′ of road frontage and is zoned mixed use commercial/residential. After 4 days on the market asking $550,000 the property sold for $600,000 cash, which is a gain for the seller who purchased for $100,000 back in 2009.
- Lot 10 Secluded Dunes Drive – Last but not least is this Gulf and bay view lot in the Bluffs at Secluded Dunes just before the state park on the north Cape. This irregular-shaped, 0.54 acre lot was on the market for 246 total days with an initial asking price of $349,900 which was reduced to $314,900 before going under contract and selling for $295,500 cash. The sellers had owned the property since 2021 when they paid $170,000.
After a relatively productive February, our comparative market was a little slower out of the gate in March with only 2 new contracts, both of which were on vacant lots. Meanwhile, 14 sellers reduced asking prices, 2 active listings were withdrawn, and 2 more expired. There are definitely a lot of options with good value out there for prospective buyers, I’m looking forward to seeing some more contracts in the near future.
Our inventory counts swelled a bit this week with 9 new residential listings and 7 new vacant lots added to our relevant market MLS. There are now 123 homes available on our comparative market (up 6 from last week), which marks the first time we’ve been back over 120 since last October. Our vacant land inventory is up 4 this week to 120 lots for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. That’s all for this week – don’t forget to spring forward on Sunday morning for daylight saving time!
