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Cape San Blas Real Estate Week in Review - July 19-25, 2014

Published on July 26, 2014 by Sherri Dodsworth under Cape San Blas

It’s been another busy week around the Cape with lots of people in to look at property. I did manage to sneak away for a few hours, though, and get in some much needed beach time on Wednesday afternoon. Good to be reminded of why we live here. Apparently a few folks decided they want to stake a claim here as well, as we had four sales and two new contracts. Our inventory grew by four ending the week with a total of 273 active MLS listings in the Cape San Blas, Indian Pass and C-30 market, with 87 homes and 186 lots for sale. Sellers added four new listings, and made six price changes.

Cape San Blas Gulf Front Lot Under Contract July 2014 with List Price of $349,000

The first of our four sales is a gulf front lot about half a mile south of the park entrance in a 4-lot micro-subdivision called Cape Estates which was carved from the 100+’ wide parent lot that sold last May. The seller offered this 50′ wide by 586′ deep lot for $349,000, and on Friday settled for $317,000.

Ovation Gulf Front Lot Under Contract July 2014 with List Price of $325,000

Down the beach about a quarter mile we have a gulf front lot in Ovation that changed hands several times in recent years. The developer sold it in May 2012 for $135,000 during their big inventory reduction sale.  Those buyers turned it last month for $225,000 to our current seller who immediately put it back on the market and went under contract with a list price of $325,000, pretty darn close to the $315,000 cash it closed for on Friday.

Cape San Blas Gulf View Lot Under Contract July 2014 with List Price of $129,000

The next sale is in Rosemary Dunes, another new micro-subdivision just south of Rish Park. It’s a quarter-acre second tier gulf view “X” zone lot that went under contract the first of July with a list price of $129,000; it closed Wednesday for an even $100,000.

Cottages at Indian Summer Lot Under Contract June 2014 with List Price of $35,000

Our forth and final sale takes us to The Cottages at Indian Summer where we have a 50′ by 275′  interior lot that was listed for $35,000, less than ten cents on the dollar from the $360,000 it sold for in early 2005. Today’s seller bought it in January 2013 for $24,000, and sold it on Friday for $30,000.

Cape San Blas Road Front Lot Under Contract with List Price of $52,000 July 2014

Now on to our two new contracts, both of which are lots on the Cape, beginning just south of Rish Park in Paradise Bay, where on the bay side of Cape San Blas Road we have a roughly half-acre lot measuring 100′ by 200′ under contract with a list price of $52,000. Paradise Bay is a sister subdivision of Paradise Gulf located directly across the street. There is no HOA, and every owner enjoys deeded gulf and bay access. The sellers have owned this “X” zone lot for some time, and have it listed for $52,000.

Cape San Blas Bay View Lot Under Contract with List Price of $29,9000 July 2014

We’ll wander down to the south side of the Cape to Eventide for our other contract. It’s on an irregularly shaped quarter-acre bay view lot listed for $29,900. This community also provides owners with deeded gulf and bay access courtesy a reciprocal agreement with their sister subdivision across the street, San Blas Plantation. The seller bought it along with several other lots from the developer in 2000 for an aggregate price of $80,000.

Glad to see sales keep rolling right along as the summer passes. Our inventory’s low meaning fewer properties to choose from, so if you’ve been holding off don’t wait too long – get in the game!  If you’re considering selling, demand is strong. Either way, call or text me at 850-227-5197 or write me at [email protected] and we’ll get started.  Have a terrific week – thanks so much for taking time to stop by today.

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