Gulf Front living is all about enjoying panoramic views, swimming dolphins, unique sunsets, tranquil sound of the water and much more. Cape San Blas’ unforgettable sunsets and pristine sand and Indian Pass /C30 corridor anchored among cabbage palms and an undisturbed Old Florida feel offer a different stage for the perfect beach retreat for the beach front living seeker; both are exquisitely beautiful and highly desirable. So, let’s look at the trend in pricing for each area as there is no right /wrong reason in choosing the right fit.
Year to date we have closed 10 gulf front lots of which 4 are on Cape San Blas and we will consider 3 of them and exclude the 4th sold at $900k “not trending with current prices and size”; placing the average sold single lot at $318k or including the 4th at $453k. If we look into the other 6 lots sold in Indian Pass/C30A corridor we get an average price of $237k.
If we go back 1/1/2014-5/20/2014, Cape San Blas gulf front single lots sold for an average of $216k with 11 units sold marking a busy period; and in Indian Pass we found foreclosed lots that brought the prices down to an average price of $122k for 3 sales or excluding the foreclosed ones we end up with $191k during the same period.
Going back to 1/1/-5/20, 2013 we find a busy period with 8 lots sold at an average price of $242k on Cape San Blas, and keeping the pace in Indian Pass/C30A corridor 4 properties sold with 3 of them averaging a price $228k and one extra large piece that brings the average to $271k.
Not all properties are created equal especially on the beach front as there are several factors to consider that will increase its value, i.e. location, flood elevation and size.