What a difference a week makes. The last of this season’s Spring Breakers left last weekend and our Cape was noticeably quieter this week. Even so, we managed to continue a healthy pace of real estate activity, closing five sales and writing up four new contracts. Sellers put fourteen new properties on the market and changed prices on eight others. Our inventory grew by six, ending the week at 247, with 80 homes and 167 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS market. Let’s take a look at what shoppers are snapping up.
The first of our five sales is evidence of just how much our market has recovered. This gorgeous 4-bedroom, 4-bath, 3,050 square foot gulf front home up in Secluded Dunes with a $1.395M price tag went under contract in just a little over 4 months, and did so with multiple buyers stepping up to the plate all at the same time. The sellers bought it at a bank sale back in September 2009 for $600,000 and have done an extensive renovation with the MLS notes details stating, “a few of the upgrades include Brazilian Walnut Floors, Travertine Marble flooring in kitchen and dining room, new Granite counter tops, remote-controlled gas logs in fireplace, new dishwasher, two new air conditioners, new 24 gauge galvalume roof. Also new irrigation system and well. All new Cyprus Bahama shutters and bamboo shades are included in the sale. ” All this is nestled on 112′ of gorgeous beach front. Wednesday afternoon the happy parties wrapped up the details and closed for full list price of $1.395M cash.
Our second sale is a 37′ by 41′ interior lot on Lakeshore Drive that went under contract just last week with a list price of $49,000. Though known primarily for its popular townhomes, Barrier Dunes also has a section set aside for single family dwellings. The sellers bought this lot as a bank-owned foreclosure in November of last year for $35,000, and sold it on Tuesday for $38,000.
Cape Breezes is on south side of Ovation and it’s where we have a bay front fixer-upper listed for $249,000. This 3-bedroom, 2-bath, 989-square foot cottage was built in 1984 and is being sold As Is. She has great bay views, but needs a good deal of TLC at this point. There were multiple offers back in February, and the winning buyers picked up the keys at closing on Monday for $251,000 along with the prospect of investing a lot of additional sweat equity.
Down by the rocks at Stumphole in Cape Isle Preserve buyers penned a contract a month ago on a bank-owned first tier lot listed for $70,000 and which closed on Friday for $62,000.
Our fifth and final sale is an interior lot that went under contract last month with a $50,000 list price. Back in the summer of 2004 the 50′ by 80′ lot sold for $294,000. This time around it went for $49,900.
Seacliffs was a popular place this week and it’s where we have two of this week’s four new contracts. First up is a bank-owned 4-bedroom, 4 1/2-bath, 1,974 square foot gulf view townhouse. If it looks a bit familiar, that may be because it had a contract on it in February that didn’t work out. At this point, all of the carpeting has been removed and she’s going to take a fair amount of work and additional capital investment to get her up and running again. The bank acquired it in July 2007, and accepted an offer on Thursday with a list price of $255,000.
Two doors down, sellers accepted a contract on their 4-bedroom 4 1/2-bath, 1,944 square foot model listed for $283,900. In mid-2005 it sold for $585,000. It’s being sold furnished and is turn-key ready.
Our next contract is on an interior lot on Sandlewood Blvd. in Peninsula Estates listed for $75,000. The sellers bought this half-acre, 100′ by 200′ lot in 1999 for $19,000.
We’ll leave the Cape for the first time today heading over to Gulf Pines where this handsome 5-bedroom, 4-bath, 3019-square foot first tier home with an in-ground pool went under contract on Thursday with a list price of $689,000. This has a good rental history, grossing $93,000 in rental income last year. The sellers bought it in the summer of 2010 for $587,500.
And that will do it for today. With the demand for property being what it is, we could use some more inventory. If you are considering selling, let’s get together and see what we might be able to get for your property in today’s market. Call or text me at 850-227-5197, or drop a note to [email protected] . I hope you have a terrific week, and thanks so much for taking time to stop by.