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Cape San Blas Real Estate Market Week in Review - Oct. 18-24, 2014

Published on October 25, 2014 by Sherri Dodsworth under Cape San Blas

Action finally resumed around here this week as we closed four sales and added one new contract, seven new listings, and three price changes.   Our inventory grew by two, closing the week at 262, with 81 homes and 181 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS. Let’s see what’s cooking.

Secluded Dunes Gulf Front Lot Under Contract September 2014 with List Price of $399,000

The first of our four sales is 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 $299,900 which, in inflation-adjusted dollars, is the equivalent today of $403,004. On Friday they sold for $319,000 cash.

Two Adjacent Interior Lots at Secluded Dunes Under Contract October 2014 with Combined List Price of $119,000

Our second closing was also in Secluded Dunes, with two lots which actually border the state park. This 150; by 250′, 0.84 acre property was offered for $119,000, and sold for an even $100,000, also cash.

Cape San Blas Cottage Under Contract August 2014 with List Price of $174,900

We’ll head about three miles down the beach to Jamaica Drive where if you wander down the road next to the Tradin’ Post you’ll come to this cozy little 2-bedroom, single-bath, 520 square foot beach bungalow that went under contract in late August with a list price of $174,900.  The sellers picked it up in 2003 for $145,000, and sold it this week for $172,500.

Gulf Pines Duplex Under Contract August 2014 with List Price of $599,900

We’re leaving the Cape and heading over to Gulf Shores for our fourth and final sale. Here we have a gulf front home adjoined to a matching unit by a small deck and stairway. It was marketed as a single package, with the two sides listed for $599,900. Between them they have 3,356 square feet under heat and air, and a total of 6 bedrooms and 4 1/2 baths. It was built in 1983 and is on a 100′ wide lot. The new owners picked up the keys at closing on Friday for $512,500.

Cape San Blas Gulf View Home Under Contract Oct. 2014 wth List Price of $299,000

Our one new contract is in Barefoot Trace on the Cape, a casual little beach community a couple hundred feet north of Scallop Cove. This 2-bedroom, 2-bath duplex is a rarity on the Cape: a home with transferable FEMA flood insurance. This is because the building permit was pulled before the CBRA designation went into effect. The sellers bought it in mid-2003 for $252,900 and have done an impressive renovation throughout. They have it under contract now with a list price of $299,000.

That does it for this week. People are picking up on some great deals right now. Let me know if you’re interested in finding out about other opportunities; call or text me at 850-227-5197 or send me an email to [email protected] . I love helping turn readers in to neighbors. Thanks so much for taking time to stop by today. Hope to hear from you soon.

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