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Cape San Blas Real Estate Week in Review, June 15 - June 21, 2024

Published on June 21, 2024 by Chris Petrie under Cape San Blas, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate, Week In Review

For Sale and Sold Sign

The summer solstice arrived this third week of June, marking the official start of summer although the vacationers, temperature, and sunshine have been representing since Memorial Day weekend.  After an encouraging previous update with 7 new contracts, our comparative market returned to the slower pace of only a couple new transactions and closings within the past 7 days.  Below is a brief summary of the 2 recorded sales, followed by some more information on new activity.

  • 103 W Seascape Drive – The first residential sale of the week comes from the Two Palms subdivision on the south Cape.  This first tier (one behind Gulf front) home was built in 2022 with 4 bedrooms, 3 bathrooms, 2,482 sq ft of fully furnished living space, an elevator, and private pool & hot tub.  The residence sits on a 65′ wide, 0.3 acre lot with nice Gulf views and easy beach access.  This upscale home was on the market for only 9 days asking $1,599,000 before selling for $1,475,000 cash.  The sellers purchased the vacant lot in late 2020 for $180,000 before starting the building process.
  • 137 Bay Club Drive – This is an RV-ready lot in the Bay Club subdivision off the SR 30-A corridor in the Simmons Bayou neighborhood.  The property measures 65′ wide, 0.42 acres, and includes a large extended pole barn, screened porch, concrete slab, enclosed sitting room with 312 sq ft of conditioned space and additional storage, with furnishings included.  All utilities are connected on this upscale RV site, and the property was on the market for a total of 119 days asking $399,900 originally, reduced down to $359,900.  This listing just sold for $320,000 cash, which is up from the $65,000 the sellers paid in 2020 before any improvements were on the property.

 

The only 2 new contracts executed in our comparative market this week were on properties in the Indian Pass area.  The first is on a Gulf view residential property, and the second is for a vacant lot on the north side of Indian Lagoon.  Once again we’re reporting a double digit number of price reductions (14) to go along with 4 expired listings and another withdrawn residential property no longer on the active market.

 

Our inventory continued the slow swell this week the addition of 6 new residential listings and 4 new vacant lots.  There are now 138 homes for sale (up 2 from last week) and 116 lots available (up 1 from last week) on all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor.  That does it for this weekly update, thanks for checking in and let me know anytime I can be of service, (850)899-8765 or [email protected].

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