Autumn arrived right on schedule and the temperatures are cooling with forecast lows tonight in the 60’s. Very nice indeed. Our market hasn’t cooled a bit, though, as we closed five sales, wrote four contracts, listed five new properties, and marked down three prices. We trimmed five from our inventory, closing the week at 265, with 83 homes and 182 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market.
Our review of this week’s five sales kicks off on Driftwood Drive in Peninsula Estates where buyers negotiated a deal on a 109′ by 187′ roughly half-acre interior lot listed for $49,900. The sellers bought the property back in 1998 for $45,000 and sold it for exactly that on Wednesday. All of the lots in this subdivision convey with both deeded gulf and bay access.
Sale number two is down in Cape Sands Landing, a neighborhood of gulf view duplexes dating from the early 80’s located about half a mile north of Scallop Cove. Back in late July, buyers penned a contract on this 3-bedroom, 2-bath unit listed for $329,000. The sellers bought it for $319,000 in 2004, the equivalent of $402,993 today in inflation-adjusted dollars. The turned over the keys at closing on Friday for $323,570.
Directly behind Scallop Cove, this next sale is a 2-bedroom, 1-bath, 756 square foot bay front cottage listed for $189,900. It’s one of six units known as Scallop Cove Villas built about 1982 which were taken down to the studs in 2003 and completely renovated. Each owner has a one-sixth interest in the 250′ parcel of bay front property with a dock. The current owners acquired this unit in June 2013 as a distressed sale for $160,000 and turned a nice little profit this week picking up a check at closing for $185,000.
Our fourth sale is located in Southbeach, a gated community on the south side of the Cape. In mid-August buyers penned a deal on a 65′ by 568′ gulf front lot just shy of an acre listed for $299,900. The sellers bought it from the developer in late 1999 for $182,000 , the equivalent of $260,714 in today’s dollars adjusted for inflation, and sold it on Friday for $290,000.
Our fifth and final sale is over in Treasure Shores contract with a 75′ by 150′, quarter-acre first tier lot that was listed for $129,900. The sellers have owned this since 1984 when the going price was $14,000. They put a one in front of that this week, closing for $114,000.
Now onto our four new contracts, beginning near the north end of the Cape on Sanuk Road where this 101′ by 163′ gulf view lot went under contract with a list price of $89,000. Sanuk Road is just south of Barrier Dunes. The sellers bought the lot in 2003 for $118,000.
Cape Shoals was a popular choice this week with buyers penning deals on two gulf front units there, beginning with this end unit listed for $287,500. All of the townhouses in this circa-1986 complex have 2 bedrooms, 2 baths, and 1,120 square feet. The owners of this one bought it just a year ago in September 2014 for $210,000 and have done a lovely job renovating it.
The other contract is on this interior unit listed for $269,000. These sellers got a heck of a deal on this property back in early 2011 when they picked it up at a bank sale for $155,900. It, too, has been nicely renovated and beautifully furnished.
We’ll wrap things up today over in Treasure Bay with this 103′ by 220′ bay view lot that went under contract on Wednesday with a list price of $49,800. The sellers bought it in September 2013 for $32,000. This is a quiet little residential subdivision off of C-30 roughly a quarter mile north of Cape San Blas Road.
Well, that does it for this week. If you have questions about other available properties, or if you’re considering selling, I’d love to talk with you. Please call or text me at 850-227-5197 or shoot me an email to [email protected]. Have a terrific week, and thanks so much for taking time out to stop by today.