September sales continue to roll right along as we logged another good week, with four sales, three new contracts, added four new listings, and changed prices on six others, with three of those being price increases. Our inventory remains essentially unchanged, closing once again at 262, with 78 homes and 184 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS.
The first of today’s four sales is a cute little bungalow just north of Scallop Cove under contract since early August with a list price of $389,000. Newly built in 2010, this 2-bedroom, 2 1/2-bath home packs a lot of style and utility into just 944 square feet. It features gulf views and a terrific outside patio area surrounding a pretty lap pool. The sellers purchased the lot in May 2009 for $110,000 and sold the home on Thursday for $340,000,, with the parties splitting the fees for sate documentary stamps, title insurance and attorney fees.
Not far from the rocks at Stumphole, our second sale is a gulf front lot approximately 120′ wide that was listed for $295,000. When it last sold in 2004 for $600,000, there was a 2,300 square foot home on it which was subsequently moved over to Simmons Bayou. This time around it went for $250,000 with the buyers paying for title insurance, which would be about $1,325 at that price.
We’ll leave the Cape for our third sale which is a bank-owned 50′ by 200′ FEMA-eligible first tier lot in the Cottages at Indian Summer that was listed for $50,000. On Thursday it closed for $45,000 cash.
We’ll end our sales review in Mystic Palms, a tranquil little gated community on Indian Pass lagoon not far from the boat launch on the east end of the peninsula. This bank-owned lagoon front lot that sold in April 2004 for $350,000 went under contract in mid-August with a list price of just $59,900. The bank received multiple offers and told the bidders to submit their highest and best offers, resulting in a sale on Tuesday of $68,500, 14% above list.
Now on to our three new contracts beginning on the north end of the Cape in Secluded Dunes where this 69′ wide gulf front lot went under contact on Tuesday with a list price of $399,000. The seller bought it back in 2001 for $299,9000 which, in inflation-adjusted dollars, is the equivalent today of $403,004.
There has been a lot of action in Seagrass recently and this week we have a bank-owned first tier lot under contract there with a list price of $147,000. All of the lots in this subdivision are in the “X” zone, and all have deeded gulf access. In January of 2004 this property sold for $225,000, and those folks sold it a year later for $650,000. Hard to believe.
Our third and final new contract is on a 101′ wide bay front lot with a dock and 1966 model 400 square foot mobile home on site. Located just south of Scallop Cove, this estate sale is listed for $169,000.
And that’s a wrap. Our housing inventory is way low so competition for what remains is heating up. If you’ve been thinking of selling, let’s talk and see if the time is right. Demand is strong. Call or text me at 850-227-5197, or send an email to [email protected] and we’ll run the numbers. Have a great week – hope to see you back here soon, and I so appreciate your taking time to stop by today.