Time once again for our Saturday morning week in review of what’s been happening (or not) in the world of Cape San Blas real estate. The weather has cooled a bit this week, pleasant as can be; let’s see if our market is following suit.
We end the week with a total active listing inventory of 554, down an impressive 2.5% from last week’s 568. There are exactly 200 houses (down 2) and 354 lots (down 14). This reflects a growing number of expireds deciding not to re-list. In looking over the monthly housing inventory for the past 4 years, it looks as if the market peaked in April 2006 at 288, and has been trending downward ever since.
We have one closed sale this week, a beautiful nearly new home in Seagrass, which sold for an even $1M, 87% of its list price of $1,150,000. The owner was both listing and selling agent, so the Seller and listing agent were clearly equally motivated. This home is a gulf first tier with private in-ground pool and lovely landscaping, and was sold beautifully furnished.
Only one new pending sale, an interior lot on Seminole Street in Indian Pass Beach subdivision. Unfortunately, this is a foreclosure sale with a list price of $175,000 on a lot purchased by the Seller in January 2005 for $200,000. This contract is scheduled for a quick close so we should know by next Saturday what the actual sale price is. If you’re wanting to try and find other foreclosed properties to save on some money, have a look at other real estate sites such as Auction.com that offer many foreclosures.
Twenty-three sellers decided to tweak their prices downward this week, 16 houses and 7 lots. There are getting to be some pretty sweet looking deals showing up out there which should start getting the attention of savvy investors.
If you own or are interested in property that you’d like to get an estimate of its likely current market value, give me a call at 850-227-7891 or shoot me an e-mail to [email protected]