The spring break season is winding down in Gulf County, while the beautiful spring weather conditions continue for those lucky enough to be here. Our comparative market of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor produced 4 recorded sales this week before Easter, with a couple more newly executed contracts, details are below:
- 227 Waters Edge Drive – The first recorded residential sale of the week comes from the Waters Edge community just off CR 30-A near the Cape San Blas turnoff. This ground-level, interior home with a large garage was built in 2003 with 4 bedrooms, 2.5 bathrooms, and 2,076 sq ft of furnished living space. The home sits on a 0.27 acre lot in the HOA with a community pool, septic system, tennis court, and deeded beach access across CR 30-A. After 6 days on the market asking $599,000 this property sold for $585,000 with conventional financing and a $4,000 credit back to the buyers, which is up from the $350,000 the sellers paid in 2016.
- 202 Painted Pony Road – Next up for residential sales is this first tier home in the Indian Summer subdivision on Indian Pass. Built in 1998, the residence has been recently upgraded and improved with 3 bedrooms, 2.5 bathrooms, and 1,675 sq ft of fully furnished living space with nice Gulf views. The home sits on a corner lot measuring 67′ wide and 0.26 acres with easy access to the Gulf front community pool and beach boardwalk. After 20 days on the market asking $848,000, this property sold for $821,000 cash, which is up from the $762,500 the sellers paid in 2023.
- 137 Parkside Circle – Here’s an attached townhome in the Barrier Dunes HOA on the north Cape near the state park. This unit was built in 1985 with recent improvements, 2 bedrooms, 2.5 bathrooms, and 1,593 sq ft of partially furnished living space with a pond-front location on a 20′ wide, 0.02 acre lot. Barrier Dunes is a gated community with a Gulf front pool, deeded beach access, tennis courts and playground. This listing was on the market for 127 days asking $499,000 before selling for $407,500 cash this week, which is a gain for the sellers who paid $195,000 back in 2012.
- Lot 18 SR 30-A – This vacant lot is located in the Shallow Reed Phase II bayside subdivision directly off SR 30-A on the south side of Simmons Bayou. The lot measures 75′ wide and 0.25 acres with unobstructed St Joseph Bay views and a deeded bay access boardwalk within walking distance. This lot was originally listed with an asking price of $139,800 which was reduced to $129,900 before going under contract after 151 total days on the market. This parcel just sold for $125,500 cash, which is down from the $134,000 the sellers paid in 2023.
Only 2 new contracts were executed in our comparative market over the past 7 days, the first was on a luxury bayview home in the Ovation subdivision on the north Cape, and the second was on a vacant lagoon-front lot off of CR 30-A near the Gulf/Franklin county line. 6 listings are no longer on the active market due to listing term expirations and a voluntary withdrawal, while 13 more sellers lowered their asking prices. Price cuts continue to be a common theme in our market this year, as more sellers are recognizing that if it’s not compelling, it’s not selling.
Speaking of compelling, 5 residential listings were added to our comparative market inventory, adding a few fresh eggs to the inventory basket. We now have 145 homes listed for sale and 134 vacant lots available on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor. That’s all the weekly real estate news on this Good Friday, thanks as always for checking in. I hope you and your family have a nice Easter weekend!
