Gulf County is catching up on some much-needed rain this weekend after a dry April, and our local real estate market is doing its best to absorb some more new inventory. It was another week with a limited amount of new activity to report, highlighted by a few more price reductions and a couple more contracts and recorded sales. Details for the sales are below, followed by more weekly updates from our Cape San Blas, Indian Pass, and CR/SR 30-A corridor market:
- 194 Mirador Way -For the second consecutive week, there’s a high-end beachfront residential recorded sale from the Villa Del Sol subdivision on the south Cape. This Gulf front home was recently built in 2023 with 5 bedrooms, 5 bathrooms, and 3,421 sq ft of fully furnished living space with a full service elevator and an elevated pool on the beachside deck. This turnkey vacation rental grossed $220K in 2024 and sits on a 61′ wide Gulf front lot with access to the neighborhood pickleball courts and community pool. After 64 days on the market with a price tag of $2,349,900, the property just sold for $2,349,000 with conventional financing. This should be another decent gain for the sellers who purchased all 10 vacant Gulf front lots in Villa Del Sol in late 2021 from the developer for $5,250,000, then proceeded to build 10 spec homes.
- Lot 42 Rhonda Del Sol Circle – This vacant Gulf view lot is also located in the Villa Del Sol neighborhood on the south Cape. The parcel measures 50′ wide and 0.1 acres with HOA amenities including a community pool, pickleball & volleyball courts, and deeded bay and beach access. This buildable lot was only on the market for 1 day asking $200,000 before going under contract and selling for $182,500 cash, which is up from the $165,000 the seller paid in August of 2024.
For the fourth consecutive week, only 2 new contracts were executed in our comparative market within the past 7 days – the first was on a beachfront home on Indian Pass while the second was on a bayview home on the north Cape. Meanwhile another previously executed vacant land contract fell through, putting this interior CR 30-A parcel back on the active market. There were 9 price reductions to report from the past 7 days on the Cape, Indian Pass, and 30-A corridor, and 1 seller went the opposite direction by raising the asking price of this Indian Pass Gulf view home.
Moving on to our inventory update, there were 8 new listings added to our relevant market MLS this week, which is the sum of 6 fresh residential listings and 2 new vacant lot listings. Despite a couple of withdrawn and expired listings, our inventory levels continued the recent climb to new highs, as our residential inventory is now at 152 homes for sale (up 3 from last week), and the vacant land inventory count is 141 lots available (up 2 from last week) on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. That’s all for this week’s update, thanks for checking in and let me know anytime I can help with your real estate needs. Have a nice and relaxing weekend, especially all the mothers out there.
Happy Mothers Day!