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Cape San Blas Real Estate Week in Review - March 22-28, 2014

Published on March 29, 2014 by Sherri Dodsworth under Cape San Blas

Another chilly, windy, wet week, but hopefully this was all just winter’s final hurrah. We’re ready for some Sunshine!!!  We managed to close four sales and write up five new contracts, added six new listings, and changed prices on four others, half of which are price increases. Little movement in our inventory, down by just one, closing at 271 with 71 houses and 200 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS.

Cape San Blas First Tier Lot Sold March 2014 for $140,000

The first of this week’s four sales is on the Cape on Tobago Drive near the Tradin’ Post.  It’s a one-third-acre, “X” zone property that had expired in December with a list price of $179,000.  It includes a 15′ pedestrian easement to the gulf.  A Realtor brought the sellers an offer they accepted for $140,000 and the parties closed on Monday.

Cape San Blas Gulf Front Home at Stumphole Under Contract Feb. 2014 with List Price of $399,000

Our next sale was a place located  just about where the rocks begin at Stumphole. It’s a 3-bedroom, 3-bath, 1,234 square foot gulf front home built in 2010 that went under contract last month with a list price of $399,000, below the $400,000 the seller paid for it in late October 2011. Initially listed in 2008 as a spec home for $799,000,  it sold on Wednesday for $325,000.

Cape San Blas Bay Front Home Under Contract February 2014 with List Price of $225,000

Down on the south side of the Cape near the Old Saltworks, sellers closed on this 2-bedroom, 2 1/2-bath, 1,312 square foot circa 2003 home tucked away behind the pines on the shores of St. Joe Bay.  They bought the lot in 2002 for $115,000 and were asking $225,000 for the home, but settled on Friday for $180,000.

Gulf Front Homesite Under Contract Feb. 2014 with List Price of $114,500

We’ll travel off the Cape heading east on C-30 a few hundred yards to Brighton by the Sea where this homesite measuring 24′ by 90′ went under contract on Valentines Day with a list price of $114,500.  It’s approved for a 1700 square foot, 3-bedroom, 4-bath home, the plans for which are included with the sale but which will need to be re-engineered to comply with current code.  Same goes for the pilings already in place.  Someone picked up the deed and plans on Wednesday for $95,000.

Barrier Dunes Before Photo


Cape San Blas Gulf Front Barrier Dunes Townhouse Under Contract March 2014 with List Price of $375,000


The first of our five new contracts was listed on Wednesday and under contract by Thursday. This is one of the original townhouses at Barrier Dunes, built back in 1984. It’s a 3-bedroom, 2 1/2-bath gulf front home with a somewhat obstructed gulf view from the main living area due to the large dune centered in front of it. When the sellers bought it in early 2012 for $225,000, she had definitely seen better times, and needed a fair amount of TLC to spruce her up. They did a fine job of doing just that and have her under contract with a list price of $375,000.

Cape San Blas Gulf View Home Under Contract March 2014 with List Price of $499,000

Next up we have a handsome 4-bedroom, 4-bath, 2,272 square foot gulf view home on Tampico in Cape Shoals, just south of Cape Palms Park on the Cape. It is situated on a quarter-acre “X” zone lot.  When this home was built in 2002, the developer sold it for $286,000.  Those folks have it under contract now with an asking price of $499,000.

Cape San Blas 38' Wide Gulf Front Lot Under Contract March 2014 with List Price of $159,000

About a block or so north of Scallop Cove on Wave Crest Lane we have an unusual property, a gulf front lot that is a mere 38′ wide.  It went under contract Friday with a list price of $159,000. The site previously had a duplex on it and has been divided into two lots. The adjacent lot on the North side has a beautiful home built this year which offers a visual of the possibilities.

Cape San Blas Gulf Front Home Under Contract March 2014 with List Price of $595,000

Our next contract is on a 5-bedroom, 5-bath, 2,600 square foot gulf front home listed for $595,000. In 1997 the lot sod for $65,000 and the house was built in 1998. The MLS provides a very nice description of the home:

Classic Beach House at Cape San Blas featuring 100′ of Gulf views. This spacious home offers everything you could want in a beachfront setting. It has 5 bedrooms, large covered porches on both levels with many windows that allow lots of light and fantastic views of the Gulf. A private boardwalk to the beach.  Enjoy gorgeous sunsets from all angles of this house. House has a 2 car garage, one side is large enough to accommodate a boat. New metal roof in 2012 and 2 brand new ACs in 2013. Crown molding through out. Gas fireplace all in the comfort of one level where the main 3 rooms are located. The 2nd floor room could serve as another living area. The downstairs room is great for the kids. House is a Sandcastle featuring storm shutters on every window/door.

Lot on Indian Pass Road Under Contract March 2014 with List Price of $75,000

Our final contract is on a lot on Indian Pass Road listed for $75,000. It measures 75′ by 113′, 0.19 acre, and has a well with pump house and a septic tank already on site.

That does it for this week. As evidenced by strengthening list prices,  the market has warming up once again. If you’re thinking of adding some coastal property to your portfolio, it’s time to start shopping. Call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started.  Have a great week, and thanks so much for taking time out of your busy schedule to stop by today.


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