Skip to content

Cape San Blas Real Estate Week in Review - May 14-20, 2016

Published on May 20, 2016 by Sherri Dodsworth under Cape San Blas

For Sale and SoldOur long overdue April showers finally arrived this week drenching us over several days with some very much needed rain, though for our visitors’ sakes I hate to see it delivered during the day. Even so, all that soggy stuff didn’t dampen our market, as we closed seven sales and wrote up four new contracts. Sellers signed five new listing agreements, and changed prices on three others. Our inventory remained unchanged at 260, with 85 houses and 175 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS market.

Cape San Blas Bay Front Home Under Contract March 2016 with List Price of $650,000

The first of our seven sales is this elegant bay front home on Cape San Blas across the street from the Sea Grass subdivision. The sellers purchased the 3,455 square foot, 3-bedroom home on roughly 2.25 acres with 125? of waterfront in June 2012 for $675,000, and have it listed for $650,000. They’ve had it on the market since early 2011 when they opened with an asking price of $899,900, and on Monday they were finally able to go to the closing table, happily handing over the keys for $645,000.

Cape San Blas Gulf View Home Under Contract March 2016 with List Price of $549,900

Across the street in Seagrass, sellers closed on their 4-bedroom, 4 1/2-bath, 2,215 square foot gulf view house listed for $549,900, a bit of a hit since they paid $890,000 for it in 2005. According to the MLS notes, when the parties closed on Monday for $500,000, the seller brought additional funds to the table to address some maintenance issues.

Cape San Blas First Tier Lot Under Contract April 2016 with List Price of $238,000

Next door in Ocean Haven on Haven Road is a third of an acre first tier lot listed for $238,000. According to the county property appraiser’s records it last sold for $500,500 in November 2004. I wanted to make sure that amount wasn’t for a multiple sale so I went to the county clerk’s records, and sure enough, that was the price for this single lot. On Friday the parties closed for that full list price of $238,000.

Bank-Owned Lot in Jubilation at Cape San Blas Auctioned Off with Opening Bid of $295,000

Down on the south side of the Cape in Jubilation this next property generated quite a bit of interest when it went on the auction block last Saturday at the beginning of March with a suggested opening bid of $295,000. Seems like a screaming deal for a 3-bedroom, 3-bath, 1,966-square foot bank-owned home that was built and sold in 2006 for $780,000. She has been sitting vacant for several years and is going to need a fair amount of TLC to restore her to her former grandeur. There are no appliances, no furnishings, no window treatments, Those who see it can’t help thinking a few window shutters or shades might make it look a little more homely. The winning bid was $391,000, to which a 5% buyer premium was added at closing, for a final bottom line price of $410,000.

Money Bayou Gulf Front Lot Under Contract April 2016 with List Price of $278,000

This next sale is over in Money Bayou on Sweetwater Drive where buyers made a wise choice snapping up this 50? wide, half-acre gulf front lot listed for $278,000. This is a terrific area along the south-facing beach and is FEMA-eligible. The sellers bought the property in late 2009 for $109,900 and more than doubled their money on Monday, settling for $260,000.

Bank-Owned 7.5Acres Lagoon Front Property on Indian Pass Under Contract April 2016 with List Price of $429,500

Our final two sales today are over on Indian Pass beginning with this bank-owned 7 1/2-acre lagoon front parcel under contract since early last month with a list price of $429,500, a far cry from the $2.1M it commanded in late 2004. This peaceful parcel measures 606? on the waterfront. The new owners took title on Tuesday for $400,000 even.

Indian Pass Lagoon Front Lot Under Contract April 2016 with List Price of $79,000

Our seventh and final sale is a recently listed property that went quickly under contract April 1 with an asking price of $79,000. This is a 2.32-acre lagoon front parcel near the boat launch at the tip of the peninsula. It’s a pretty setting with what appears to be a fair amount of wetlands. Somebody has plans for it and closed on Wednesday for $70,000.

Interior Lot at Park Point Under Contract May 2016 with List Price of $43,500

Now onto our four new contracts heading up to the north end of the Cape to Park Pointe. Here buyers penned an offer on a bank-owned, quarter acre interior lot listed for $43,500, quite a bargain from the $370,000 it sold for in November 2004.

Cape San Bla-s Interior Bay View Lot Under Contract May 2016 with List Price of $85,000

Just south of the newly renovated and recently re-opened Coneheads restaurant on Spinnaker, the parties came to terms on a 226′ by 248′, 1.29 acre interior lot for which the seller is asking $85,000. This lot was one of several lots cut from a larger parent parcel the seller purchased in 2012 for $115,000.

Lot of Gulf Side of Cape San Blas Road Under Contract with List Price of $94,500

About a mile further down Cape San Blas Road just past Westwind drive on the gulf side, buyers wrote an offer on this 95′ by 166′, one third acre lot listed for $94,500. All the properties in this little subdivision known as Paradise Gulf enjoy deeded access to both the gulf and bay.

Cape San Blas Bay Front Lot Under Contract March 2016 with List Price of $299,000

Some buyers were eagerly anticipating scallop season setting their sights on this 100? by 471?, 1.1-acre bay front lot overlooking Pig Island. It’s listed for $290,000, and last sold in 2003 for $269,000. If it looks a little familiar, that’s because it briefly had a contract on it in mid-March that didn’t work out.

That’s a wrap for this week. As you can see, sales activity continues along at a brisk pace, so if you’re considering finding a good value here along the coast for yourself, I’d love to help you. Please call or text me at 850-227-5197 or send me an email to [email protected] and we’ll get started. As I’ve said before, I love turning readers into neighbors. Have a great week, and thanks so much for taking time to stop by today.

Be the first to comment

Thanks for leaving a comment. If you are new to leaving comments on my site, it will have to be approved before being posted.

Subscribe to the  Cape San Blas Blog

Follow along weekly from the convenience of your inbox.

Thanks for reaching out! I'll be in touch soon!

Coastal Realty Group
REALTOR logo Multiple Listing Service logo Equal Housing Opportunity logo

Property information provided by the REALTOR'S® Association of Franklin and Gulf Counties, Inc.. IDX information is provided exclusively for consumers personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is deemed reliable but is not guaranteed accurate by the MLS.

© 2022 Chris Petrie. All Rights Reserved.

Privacy Policy Site Map