The hot summer season continues, and unfortunately we’re only referencing temperatures, not market activity. It was another scorcher on the coast without much new activity to report on Cape San Blas, Indian Pass, and the CR/SR 30-A corridor from the past 7 days. 4 previously executed contracts did make it to closing this week, here are the details:
- 6062 Anchor Lane – The first sale of the week comes from the north Cape where this bayfront residence just made it to closing. The 1992-built home has 3 bedrooms, 2.5 bathrooms, and 2,136 sq ft of unfurnished living space on a beautiful piece of bayfront property measuring 200′ wide and 1.35 acres. The house lies entirely in the X flood zone, and the property includes a deeded beach access across Cape San Blas Road through the Paradise Gulf subdivision. This listing originally hit the market in late March asking $1,650,000 and was later reduced to $1,499,000 before going under contract. After 93 total days on the market, the property just sold for $1,350,000 cash. The seller had purchased the vacant bayfront land for $85,000 in 1992 before building the primary residence the same year.
- 113 Sabal Circle – Here’s a Gulf view attached townhouse in the Barrier Dunes HOA on the north Cape which just sold a quarter share (13 weeks every year) of the fully furnished unit. The recently improved townhouse was built in 1985 with 3 bedrooms, 3.5 bathrooms, 1,845 sq ft of living space, and access to HOA amenities including community pools, tennis courts, playground, fishing ponds and deeded beach access. The property hit the market asking $209,000, reduced to $199,000, and the quarter share just sold for $175,000 cash after 39 total days on the market. A quarter share of this same townhouse last sold in 2018 for $72,500.
- 102 Mariner Lane – This vacant interior lot is located on the south Cape in the gated South Beach subdivision. The lot measures 0.27 acres and 120′ wide with a deeded beach access right down the street. The parcel was on the market for 65 days asking $97,500 before selling this week for $89,000 cash, which is a gain for the seller who purchased the property for $27,000 back in 2000.
- Lot 3 CR 30-A – One more vacant lot sold this week, this one is located in the Palmetto Creek RV-friendly subdivision off the CR 30-A corridor between the Indian Pass turnoff and the Franklin County line. This vacant interior parcel without improvements measures 0.31 acres and was on the market for 41 days asking $149,900 before selling for $135,900 cash, another gain for the sellers who purchased for $75,000 in 2021.
The only new contract executed in the past 7 days on all of Cape San Blas, Indian Pass, and the 30-A corridor was on an unbuildable bayfront lot with a nice dock and bay access point behind Pig Island on the north Cape. One of the previously executed contracts from last month was cancelled this week, putting this north Cape duplex back on the active market. 14 more price reductions underline the fact that the urgency and motivation has switched from the buyers to the sellers.
On to the new listings, where 3 residential offerings and 2 vacant lots (one already under contract) were added to our comparative market inventory. Our vacant land inventory remains unchanged at 119 lots available, while our residential inventory is up 4 from last week to 142 homes for sale on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. That’s another update in the books, thanks for checking in and let me know anytime I can help, (850)899-8765 or [email protected]. Stay cool!
Hole # 4 at the St. Joseph Bay Golf Club