It’s already the last full week of May, and the weather is warming up on the coast. Our comparative real estate market seems to be warming up a bit as well now that we’re heading into the summer season, as this will mark the third consecutive week with a surge in newly executed contracts. We’ll start the weekly update with a brief summary of the 3 sales recorded since our last update on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor:
- 110 Echo Lane – This high-end bayside home is located in the Ovation HOA on the north Cape, and it was built in 2023 with 5 bedrooms, 6 bathrooms, an elevator, and 3,625 sq ft of fully furnished living space. The home sits on a 55′ wide, 0.13 acre lot in the gated Ovation subdivision with unobstructed bay views and access to the community pools, tennis courts, docks, beach access, and clubhouse. The original list price was $2,150,000, reduced to $2,090,000, and after 264 total days on the market, this property just sold for $1,945,400 cash. The sellers purchased the vacant bay view lot for $225,000 in 2021 and started the building process soon after.
- Lot 8 Bayou Estates – The first vacant lot which made it to closing this week is this RV-friendly parcel in the new Bayou Estates subdivision off SR 30-A near Presnell’s Marina in the Simmons Bayou neighborhood. The parcel measures 52′ wide and 0.17 acres with a paved access road and utilities in place. This listing went under contract as soon as it hit the market asking $159,900, and it sold $159,000 cash. The seller/developer purchased the original 2.85 acre parcel for $600,000 in February of this year before subdividing into 11 RV-friendly lots and improving with utilities and an access road.
- 143 Cord Grass Way – Interesting scenario for this recent lot sale, as the seller just purchased the parcel last month and immediately received an offer he couldn’t refuse. The 50′ wide, 0.1 acre X zone lot is located in the gated Jubilation community and has access to all the HOA amenities, including a community pool, clubhouse, and beach access boardwalk. Less than 1 month after purchasing this south Cape vacant lot for $65,000, the seller resold the property for $82,500 cash.
We haven’t seen 6 new contracts executed in one week in our comparative market since late March, so let’s hope this increasing activity rate continues into the summer season. The 6 new contracts consisted of 2 vacant land and 4 residential contracts penned in the past 7 days. We also can report 13 more price reductions and 2 price increases this week. 5 more listings either expired or were voluntarily withdrawn from the active market since our last update.
Thanks to the addition of 8 new listings (7 residential and 1 vacant lot), our comparative market residential inventory level remains unchanged from last week with 153 homes for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. Meanwhile vacant land inventory is down 2 this week to 146 lots for sale in our relevant market. That wraps up the last blog update for May 2025, thanks for reading and let me know anytime I can help with your real estate needs. Enjoy your weekend, catch a fish!
