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Cape San Blas Real Estate Week in Review - Sep. 1-7, 2012

Published on September 8, 2012 by Sherri Dodsworth under Cape San Blas

With Labor Day in our rear view mirror, summer may be officially over but luckily buyers didn’t seem to get that memo as they were still here snapping up great real estate deals. We had another healthy week, with three closings and three new contracts. We added five new listings and made seven price changes. With all that, we trimmed our inventory a little bit, closing down five from last week, ending at 340, with 90 houses and 250 lots listed for sale in the MLS for the Cape San Blas, Indian Pass and C-30 Corridor market.

Two of our three sales are related in that they’re both pending a minor replat from the same parent parcel. Both measure 99′ by 143 ‘, roughly a third acre each, and located in the “X” flood zone. They’re located on Cape San Blas Road about a half a mile north of Scallop Cove. One is a first tier lot which sold for full list price of $120,000.

Gulf View Lot at Cape San Blas Sold September 2012 for $58,500

The other is a gulf view lot listed for $65,000 and sold for $58,500.

The third sale is located not too far from the previous two; it’s a gulf front lot on Catamaran Dr. measuring 50′ x 247′ (roughly a third of an acre), listed for $205,000. The sellers bought it in 2002 for $475,000, and sold it on Thursday for $190,000, a little bit above the county’s assessed value of $175,000.
We’ll start our review of this week’s three new contracts on the north end of the Cape in Ovation where this 50′ x 100′ bay view lot went under contract with a list price of $45,000, which is what the seller paid for it as recently as June 2011. In September 2005, it sold for $375,000. The county currently has it assessed at $40,000.

Cape San Blas Gulf View Lot Under Contract Sep. 2012 as Short Sale with List Price of $58,000

About 2 miles south of Ovation, our second contract is in Seagrass, where this triangularly shaped quarter-acre gulf view lot went under contract as a short sale with a list price of $58,000. In June of 2004 the sellers bought it for $345,000, and have been trying to sell it since May 2005 when they listed it for $589,000. The county has it assessed at $90,000.

We’ll head off the Cape for the first time today for our final new contract which is out along the C-30 Corridor in Treasure Bay. These lots have unobstructed bay views with the land seaward of them being a state-owned buffer preserve. This one has an interesting sales history, selling in May 2004 for $112,500, and then again just a month later for $150,000. This week it went under contract with a list price of $24,500 and a county assessed value of $20,000.

That wraps it up for this week. As you can see, there are some terrific values out there so if you’d like to take advantage of this market get in touch with me either by calling or texting me at 850-227-5197 or shooting me an email to [email protected] . In the meantime, have a great week and hope to hear from you soon. Thanks for stopping by today.


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