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Cape San Blas Real Estate Week in Review - June 11-17, 2016

Published on June 18, 2016 by Sherri Dodsworth under Cape San Blas

Our market took a bit of a breather this week, closing just one sale but writing up five new contracts.   Owners added seven new listings, and put new price tags on eight others. Still virtually no movement in our inventory, adding one since last week to close at 265, with 88 homes and 177 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS.

Barrier Dunes Townhouse Under Contract April 2016 with List Price of $249,000

Our one and only sale is up Barrier Dunes where this 2-bedroom, 2-bath, 1,216 square-foot townhouse under contract since mid-April with a list price of $249,000.  The sellers bought the rental property in July 2013 for $187,500 cash. They’ve spruced it up nicely since then, and replaced the roof in the past two weeks.  On Monday they signed the home over to the happy new owners for $$230,000.

Cape San Blas Gulf Front Acreage Under Contract June 2016 with List Price of $2.298M

The first of our five new contracts is a rare find, indeed.   Investors snapped up this 4.3-acre, 200′ by 900′ gulf front parcel within days of its debut in the MLS with an asking price of $2.298M. With county density regulations allowing for three dwelling units per acre, this land could potentially be subdivided in to 12 or 13 lots, which in a way would be kind of sad to see.  The seller has owned this land for quite some time so I didn’t find any sales data in the property appraiser’s records.

Money Bayou First Tier Lot Under Contract June 2016 with List Price of $80,500

Over in Money Bayou on Sweetwater Shores Drive, buyers penned a deal on this little first tier lot measuring just 35′ by 70′, or 0.06 of an acre.  Small lot with a big price tag of $80,500. The county side setbacks for building are 9 1/2′ for a structure on pilings, so the max width of a home on this lot will be 16′.

Second Tier Gulf View Lot Under Contract June 2016 with List Price of $65,000

This is a photo of Treasure Shores, to the north of which lies Treasure Shores First Addition consisting of a series of second tier lots. Here a three-quarters of an acre lot, measuring 100′ by 330′ went under contract on Saturday with a list price of $65,000. The sellers bought it in mid-1998 for $120,000.

Indian Summer Lagoon Front Lot Under Contract June 2016 with List Price of $70,000

Our last two contracts are both on Indian Pass, starting with this canal front lot in Indian Summer listed for $70,000. This is a quasi-gated community, meaning there’s a gate, it’s just never closed. The lots here all include deeded gulf access, and there is a lovely community pool over looking the beach.  This particular lot lies in the section of the neighborhood that is outside the Coastal Barrier Resource Area (CBRA) and is therefore eligible for FEMA flood insurance. The sellers purchased the property in 2000 for $37,000.

Indian Pass Gulf Front LotUnder Contract June 2016 with List Price of $199,900

A little further down Indian Pass Road, the parties shook hands on a half-acre gulf front lot with 50′ of water frontage.  This is another property for which I didn’t find any sales data in county files.  The seller has it listed for $199,900.

And that does it for this week.  Our inventory still has some very attractive opportunities so if you’re toying with the idea of calling a piece of coastal property your own, let’s start looking. Call or text me at 850-227-5197 or shoot me an email to [email protected] to get the ball rolling. Have a terrific week, and thanks so much for taking time to stop by today.


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