This week while much of the country was shivering, Cape San Blas was sizzling hot with great real estate deals. Lots of activity, with six sales and seven new contracts, eight new listings, and three price changes . Even with all that, our inventory barely budged at all, closing down by only one, ending the week at 263, with 83 homes and 180 lots listed for sale in the Cape San Blas, Indian Pass, C-30 Corridor market. We have a fair amount of territory to cover today so let’s get started.
Plenty of interest on the north end of the Cape at Seacliffs, home to three of this week’s six sales, beginning with this 3-bedroom, 3 1/2-bath, 1,944-square foot townhouse that went under contract in late March with an asking price of $239,000, pretty much right on the money with the county’s assessed value of $234,681, but well above the $215,000 they let it go for on Tuesday. The sellers are the original owners who bought the land from the developer in 2001 for $60,000 and subsequently built.
Just a few doors away our next sale is a 4-bedroom, 4 1/2-bath, 2,007 square foot model built in 2001 and listed for $249,000, well below the county’s assessed value of $284,960. The sellers paid $495,000 for it in July 2004, and took $225,000 for it on Tuesday.
Next up is an out-of-the-ordinary offering. No, this isn’t Stonehenge on the Cape; it’s four 18′ wide by 60′ deep bank-owned contiguous lots offered at $15,000 apiece for an aggregate price of $60,000, which is exactly what they sold for this week.
We’re heading off the Cape onto C-30, turning left and driving just a short way until we reach this little bungalow on the right side of the road that went under contact in late May with a list price of $197,500. It’s a 3-bedroom, 2-bath, 1,380 square foot home with a lot of character inside. The home has a secluded boardwalk that leads to a private screened-in gazebo under the trees and room for a hot tub. Inside there are 75-year-old wood floors in the living area and 2 of the bedrooms. The seller bought it in early 2007 for $185,000, and has now sold it for $165,000.
Our sixth and final sale takes us all the way out onto the Indian Pass peninsula to Indian Pass Beach subdivision where this 3-bedroom, 2 1/2-bath, 1,744 square foot gulf view home went under contract in late March with a list price of $389,900, which in inflation-adjusted dollars is way less than the $351,900 the sellers paid for it eleven years ago in 2002. $389,900 in 2013 dollars is equivalent to $454,136 in 2002 dollars. The buyers picked up the keys at closing on Tuesday for $342,000.
Now on to our seven new contracts, returning to the north end of the Cape, this time stopping at Park Point, home of two bank-owned interior lots that went under contract on Wednesday with list prices of $29,900 each, just a bit above their county’s assessed values of $27,500. They last sold in October 2003 for $280,000 each.
In nearby Barrier Dunes, our next contract is on this bank-owned 3-bedroom, 3 1/2-bath, 2,025 square foot townhouse listed for $199,500. When it was built in 2001, the developer sold it for $181,900, equivalent to $235,741 today in inflation-adjusted dollars. When it last sold in early 2004 it went for $348,800. The county has it assessed in line with recent comps for this area of Barrier Dunes at $159,773.
Our next contract takes us about a half mile down the road to Peninsula Estates where this third-acre lot measuring 96′ by 170 which fronts Cape San Blas Road went under contract on Saturday with a list price of $49,500. No sales history available on this one as the seller has owned it for quite some time. It’s assessed by the county at $83,149.
We’re travelling down to the south side of the Cape for our next contract, which is on a bank-owned interior lot in Surfside Estates that was just listed early this week for $69,900, in line with the county’s assessed value of $60,00. This quarter-acre lot measuring 89′ by 121′ sold in mid 2005 for $380,000, and prior to that in 1998 for $17,500.
Up next is another gulf front home, this time over on Indian Pass. A couple of buyers liked the looks of this 3-bedroom, 2-bath, 1,670 square foot home built in 1992 situated on a 100′ wide, 1+ acre , listed with an asking price of $549,000. The sellers bought the home in August 2011 for $510,000, and today the county has it assessed for $448,764.
That’s a wrap for today. Properties are moving at a brisk pace so if you’ve has your eye on a particular item it’s time to make a move or you might just lose out. And if you’re an owner considering selling, now may be a good time to give that a try as our inventory has been drawn down so far. Either way, call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started. I hope to hear from you soon, and until then, have a great weekend, and thanks so much for taking time to stop by today.