A few days ago most area residents and property owners were doing all they could to prepare for a major hurricane bearing down on Gulf and surrounding counties. We dodged a bullet this week as Hurricane Helene took a more eastern track and left Bay, Gulf, and Franklin Counties with much lesser impacts than expected. We did get over 10 inches of rain in the past 3 days, along with some significant beach erosion and storm surge, but nothing compared to our neighbors to the east who are in our thoughts and prayers. Due to the storm, most area businesses were closed for the past few days, and there were only a couple of recorded sales in our comparative market of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor since our last update:
- 538 Gulf Pines Drive – This Gulf front home is located in the established Gulf Pines neighborhood off the CR 30-A corridor between the Cape and Indian Pass. The 3 bedroom, 2 bathroom house was built in 2005 with 1,508 sq ft of fully furnished living space on a 76′ wide, 0.61 acre beachfront lot. This property was priced right and went under contract as soon as it hit the MLS, selling for the full asking price of $1,325,000 cash. This was a gain for the sellers who purchased for $700,000 in 2007.
- Lot 33 Plover Drive – This vacant lot is in the San Blas Plantation neighborhood on the south Cape. The interior property measures 65′ wide and 0.32 acres with some buildable area in the X flood zone and a deeded beach access a short walk away. After 178 days on the market asking $139,900, the lot sold for $132,000 with conventional financing, slightly up from the $125,000 the sellers paid in summer of 2022.
One buyer did jump on an opportunity before the storm, as this south Cape Gulf front lot is the only new contract to report from our comparative market over the past 7 days. 4 more sellers reduced asking prices this week, and there were also a couple more expired and withdrawn listings.
With no new listings added to our comparative market MLS this week, our residential inventory is down 2 to 133 homes for sale, and our vacant land inventory is also down 2 to 131 lots for sale on all of Cape San Blas, Indian Pass, and CR/SR 30-A corridor. We’ll hopefully have a little more activity to report next week, but in the meantime I’m feeling extremely fortunate to be sitting in my home on Indian Pass typing this update, hoping for a quick recovery for those struggling with the more significant impacts of a major hurricane, as we’ve been there before. Let me know anytime I can be of service – (850)899-8765 or [email protected]. Take care and be safe.
Indian Pass Road sunset view from the Raw Bar, September 24th