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Cape San Blas Real Estate Week in Review - Feb. 7-13, 2015

Published on February 13, 2015 by Sherri Dodsworth under Cape San Blas

When I first moved here in 1994, January and February used to be such quiet months around the Cape that the two stores would take turns closing for a couple of weeks each year.  How times change. Maybe it’s because so much of the northeast is experiencing uber-winter weather this winter that they’re fleeing to our warm, sunny coastlines, because we are as busy this month as we typically are in the height of the summer season.  The weather may be cool, but our real estate market is sizzling hot.  This week we closed two sales, and wrote up a whopping eleven new contracts. Sellers added eight new listings and changed prices on nine others. Our inventory took a nice little dip, shedding 13 to end the week at 236, with 79 homes and 157 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market MLS.  Lots to see today so let’s get right to it.

Cape San Blas Gulf Front Lot in Jubilation Under Contract January 2015 with Asking Price of $450,000

We’re travelling down to the south side of the Cape to Jubilation for the first of our two sales which is on a 52′ wide, 1.14-acre gulf front lot that wasn’t listed in the MLS but the owners and a Realtor with buyers have been working for the past year trying to work out a deal. They finally reached an  agreement with the seller asking for and the buyer agreeing to $450,000, and on Monday they went to closing.

Gulf Pines Gulf Front Home Under Contract January 2015 with List Price of $599,000

Our second sale is a circa-1982 3-bedroom, 3-bath, 1,222 square foot beach cottage nestled on a 100′ wide gulf front lot in Gulf Pines listed for $599,000. The sellers bought the home in early 2008 for $580,000, and sold it on Tuesday for $560,000.  Gulf Pines is a FEMA flood insurance eligible area.

Bay View House at Cape San Blas Under Contract Feb. 2015 with List Price of $625,000

Now on to our eleven new contracts starting with two written on Ovation properties, beginning with this newly built 5-bedroom, 3 1/2-bath, 2,278 square foot bay view home listed for $625,000. Construction finished up in May 2014 and it has been on a rental program since then.

First Tier Lot at Ovation at Cape San Blas Under Contract Feb. 2015 with List Price of $155,000

Over on the gulf side of Ovation buyers jumped on this first tier 0.11 acre lot measuring 66′ by 82′ listed for $155,000. Interesting note here is that the lot was listed for $149,900 but increased to $155,000 on Wednesday, and within two days after that it went under contract.  Hard to believe, but back in September of 2005 it went for $775,000.

Cape San Blas First Tier Lot Under Contract Feb. 2015 with List Price of $169,000

Contract number three is in Paradise Gulf on Westwind Drive where this 83′ by 190′, one-third acre, X-zone lot went under contract on Friday with a list price of $169,000. The sellers bought it in December 2011 for $85,000.

Cape San Blas First Tier Lot Under contract Feb. 2015 with List Price of $119,900

A few blocks further south on Seahorse Lane in Feather Sound our next contract is on a quarter-acre first tier lot listed for $119,900. In 2001 the sellers paid $103,500 for it, which, in inflation-adjusted dollars, is the equivalent of $138,430.

Cape Can Blas Cottage Under Contract with List Price of $179,000 Feb. 2015

On Jamaica Drive next to The Tradin’ Post, we have a contract on a small parcel with two 1-bedroom, 1-bath circa-1992 mobile homes listed with an aggregate price of $179,000. Two years ago they sold for $109,000.

Two Bank-Owned Interior Lots at South Beach Under Contract Feb. 2015

We’ll travel down to the south side of the Cape to Southbeach, where our next two contracts are on two contiguous bank-owned lots on Mariner Lane. One is listed for $76,900 and the other for $74,000. In 2002 and 2004 respectively, they sold for $103,000 and $189,000.

Bank-Owned Gulf Front Lot at Indian Pass Under Contract Feb. 2015 with List Price of $215,900

Lots of action over on Indian Pass this week, with our final four contracts all being relatively close together over there. First up is this bank-owned 75′ wide gulf front lot on Canoe Lane listed for $215,900. For some reason the property appraiser’s website lists no sales history on this parcel.

Bank-Owned Indian Pass First Tier Lot Under Contract Feb. 2015 with List Price of $79,900

Also on Canoe Lane we have another Bank-owned lot under contract, this one a quarter-acre lot listed for $79,900. It last sold in January 2006 for $400,000.

Indian Pass First Tier Lot Under Contract FEb. 2015 with List Price of $85,000

Just several hundred feet east on Indian Pass Road our tenth contract is on a quarter-acre first tier lot listed for $85,000. The owner cleared it and installed a septic system in 2010 when he bought the property for $50,000.

Indian Pass Gulf Front Lot Under Contract FEb. 2015 with List Price of $230,000

We’ve made it to our eleventh and final new contract which is on a lovely 50′-wide, 1-acre lot on Indian Pass Road spanning all the way from the gulf to the lagoon listed for $230,000.

And that’s a wrap for this week. Can you believe all this activity in February? If you’ve been to the Cape recently you’ve no doubt also noted all the new homes under construction. Pretty impressive. Our sales inventory has come way down, and with demand being what it is, if you’ve been toying with the idea of selling, now is a good time, so call or text me at 850-227-5197 or get in touch at [email protected] and let’s talk.  Have a great week, stay warm, and I hope to see you back here again real soon.  Thanks so much for stopping by.

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