We’re moving quickly through May with the big Memorial Day holiday weekend right around the corner. Believe it or not, next weekend will mark the beginning of our busier summer season when we’ll notice a heavy increase in visitor traffic and more productive vacation rental properties. This weekly market update will be a brief one due to the fact that new contracts have been somewhat limited over the past month. As a result there were zero recorded sales in our comparative market of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor in the past 7 days. The good news is that we can report a jump in new contracts this week with 4 recently executed transactions, consisting of 3 new residential contracts and 1 new vacant lot contract. Unfortunately another previously executed vacant land contract from a couple of weeks ago was cancelled this week, putting this south Cape vacant lot back on the active market.
More good news for buyers, as we’re on to the price reductions and new listings. There were 13 price adjustments updated in our comparative market MLS this week, which is the sum of 9 residential price cuts and 4 vacant lot reductions. Meanwhile 3 more residential listings and 5 new vacant lots (1 already under contract) were added to our relevant market inventory. This puts our residential inventory count at 151 homes for sale, with vacant land gaining ground, now sitting at 145 lots available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Temperatures are warming up down here at the beach, let’s hope our market continues to do the same. Thanks for checking in and let me know anytime I can be of service. It should be a nice Saturday in Gulf County with the Salt Air Farmers’ Market is back in town in Port St. Joe, and be sure to check out the Tupelo Honey Festival up in Wewahitchka if you’re in the area. Have a nice weekend!
Early May sunset over the south-facing CR 30-A shoreline