Autumn is in the air and everybody wants to be out enjoying the cool, crisp weather. Just returned from the Farmer’s Market in Port Saint Joe where all up and down Reid Avenue shopkeepers had their doors thrown open welcoming the fresh air. Buyers were out and about on the Cape throughout the week as well, snapping up cool deals on great coastal real estate. Six sales went to closing, and we wrote two new contracts. Sellers added seven new listings and lowered the price on only one. Our inventory took another healthy dip, shedding three, ending the week at 257, with 80 homes and 177 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS Market. Let’s see what’s moving.
We’ll begin our review of this week’s crop of six sales with this charming second-tier, gulf view beach cottage that went under contract in late August the same week it came on the market with a list price of $295,500. It is a 2-bedroom, 2-bath, 1,280 square foot home built in 1999. The sellers bought the third-acre lot in 1998 for $33,500. On Friday they sold it for full list price.
In nearby Seagrass our second sale is a bank-owned lot listed for $95,000. This “X” zone, quarter-acre lot last sold in 2004 for $215,000, and the bank foreclosed on it this past June. On Thursday it closed for $78,000.
Next up is a 137′ by 90′ “X” zone lot on the corner of Cancun and Cape San Blas Road listed for $64,000. The seller is Mediacom who purchased it in 1998 for $31,000 and used it to place their gigantic satellite dishes on. Not sure about the details on this one, but it sold for above list price at $64,151.
We’ll head a few blocks further south down the beach to Jamaica Drive. If you wander down this road next to the Tradin’ Post you’ll come to this cozy little 2-bedroom, single-bath, 520 square foot beach bungalow listed for $184,000. The sellers picked it up in June 2007 for $201,000, and sold it this week for $175,000.
On the south side of the Cape in Boardwalk we have a short sale on a 2-bedroom, 2-bath, 1,296 square foot interior “X” zone home listed for $279,000. The sellers bought it in 1998 for $109,000. Boardwalk is one of the original subdivisions on the Cape; it’s a quiet little neighborhood developed in the early 80’s, features deeded gulf access for all properties, and an inviting community pool overlooking the Gulf. On Thursday the bank turned over the keys to the new owners for $250,000.
We’ll leave the Cape now for our one and only time today heading over to Indian Pass Beach Subdivision where this 3-bedroom, 2-bath, 1,008-square foot interior home built in 1990 went under contract in early August with a list price of $199,000. The sellers bought it in early 2007 for $315,000 and have used it as a long-term rental since them. The parties closed for $175,000.
Now on to our two new contracts beginning up in Secluded Dunes. A Realtor was working with a buyer who wanted a lot in this neighborhood, but none were currently listed. She checked with the owner of this lot who said they’d be willing to sell it for $395,000 which the buyers agreed to, and voila! Everybody’s happy and they’re on their way to closing. It never hurts to ask.
About three miles to the south on the Cape our next contract is on Summerhouse Lane in San Dunes. Buyers penned a contract on this quarter-acre, “X” zone lot listed for $119,900. This isn’t listed as a short sale, even though the owners paid $590,000 for it in 2005. The year before that, it sold for $335,000.
That does it for this week. The inventory’s getting slim so competition for properties is intensifying. If you’ve had your eye on a particular listing, better to act sooner than later as it may be gone by the time you decide to make your move. If you’ve been thinking of selling, the market has definitely improved for you. I’ll be glad to help either way – just text or call me at 850-227-5197 or shoot an email to [email protected] . Have a terrific week and I hope to hear from you soon. Thanks so much for taking time to stop by today.