What a smokin’ hot week in real estate! We had seven closings, four new contracts, added eight new listings and changed prices on eleven others. Our inventory shed two, closing the week at 253, with 82 homes and 171 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. We have a lot of territory to cover today so let’s see what has buyers fired up.
One of the northernmost subdivisions subdivisions on the Cape is Sunset Pointe, and that’s where we’ll kick off today’s review of our seven sales. This 87′ by 213′ “X” zone lot went under contract just last week the day after it debuted on the market sporting a $49,900 price tag, quite a difference from the price it commanded back in early 2004 when it sold for $380,000. The current owner bought it in mid-2014 for $33,000, and sold it on Thursday for $47,500. The road to the right of the lot you see in the photo above is the entrance road to the state park.
In nearby Barrier Dunes parties negotiated a quick deal on this 2-bedroom, 2 1/2-bath, 1,216 square foot townhouse for which the seller was asking $184,900. Early in the week someone offered them $180,000 and also offered to also pay $1,000 of the sellers closing costs and they closed on Thursday for $180,000 cash.
The next sale is a bay view lot in Ovation on Regatta Drive listed for $39,900. The sellers bought it back in 2012 for $19,000, and sold it on Thursday for $34,500.
Sale number four is on Seahorse Lane in Feather Sound. This is another quick turn around sale, as the quarter-acre lot sold last January for $75,000 and was listed for $134,500. The parties went to closing on Wednesday and settled for $135,000 cash
This next sale is on Antilles Drive back behind Pristine Properties Vacation Rentals. Here we have a 1,776 square foot, 5-bedroom, 3 1/2-bath gulf front home built in 1987 under contract since January with a list price of $500,000. The sellers bought it in 2003 for $325,000, and have made improvements since then, including adding new decks. Their hard work has now paid off with their turning over the keys at closing for $480,000.
Over along C-30 in Simmons Bayou, this recently completed 3-bedroom, 3-bath, 1,781 square foot bay front home in Shallow Reed went under contract in early February with a list price of $386,000. On Wednesday the new owners picked up the keys at closing for $375,000. After years of sitting dormant, it’s nice to see this subdivision finally coming to life, with other houses underway and a couple already sold.
Our final sale takes us out near the tip of the Indian Pass peninsula to this 105′ by 75′ first tier lot listed for $172,500. According to the MLS notes, the gulf front lot seaward of it has been deemed unbuildable. There was no sales data available in the county property appraisers site. The new owners took title on Thursday for $142,500 cash.
We’ll return to the north end of Cape San Blas to begin our review of this week’s four new contracts, beginning with this 3-bedroom, 2 1/2-bath, 1,670-square foot gulf front condo listed for $360,000. It was built in 1986 and is situated in an “X” flood zone. The sellers bought the unit back in 2003 for $433,500. Monthly condo fees for these units are $785.
Buyers were all about waterfront this week, with all four of our new contracts fronting a beach of some sort. Down near Scallop Cove in Clifton Place, sellers accepted an offer on their 5-bedroom, 4 1/2-bath, 4,094 square foot home centered on 50′ of Cape San Blas’s sugar white sand. The sellers bought the home in the summer of 2004 for $1.25M.
We’re travelling over to Money Bayou for contract number three, this one on a 3-bedroom, 2-bath, 1,200 square foot home listed for $679,000. This is a FEMA eligible area. The home was built in 2013 and sits on 50′ wide gulf front lot that sold in late 2011 for $100,000.
We’re back at Indian Pass to wrap things up today with this 5+ acre lagoon front parcel listed for $50,000. Looking at the aerials on this there appears to be a lot of wetlands and marshland included in the acreage which makes that price tag make sense. According to the county records this is a probate sale and I didn’t find any pertinent prior sale records so I suspect it has been in the family for some time.
That’s a wrap – good to see such continuing market interest. Competition for attractive properties is really strong. If it’s looking good to you, chances are others are eyeing it as well. I’ve been working with so many buyers negotiating some great deals on lots and homes, and you can, too. If you’re thinking of getting in on some of these values, let’s talk. Call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started. Thanks so much for taking time out of your schedule today – hope to hear from you soon.