This has been the hottest week of the summer so far with daily forays into the 90’s and only making it into the mid-80’s at night – just like Florida in July. It’s been another hot week in real estate, too, with two sales and eight new contracts, ten new listings, and ten price changes. Our inventory inched back up by two, closing the week at 266, with 90 homes and 176 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take look at what’s moving.
Bay front has been in high demand lately and the first of our two sales is this offering which went under contract within days of it debuting in the MLS. It’s a 75′ by 2050′, 0.59-acre lot listed for $124,900. This is on the south side of the Cape at the head of the bay across the street from Boardwalk subdivision. The sellers bought it in mid-2004 for $280,000, and sold it on Friday for $105,000.
Over on Indian Pass Road, buyers took title to a half-acre gulf front lot with 50′ of water frontage. I didn’t find any sales data in county files. The seller has it listed for $199,900, and picked up a check for $198,ooo on Friday.
The first of our eight new contracts is on the north end of the Cape in Barrier Dunes where sellers accepted an offer on their 2-bedroom, 2 1/2-bath, 1,388 square foot townhouse listed for $192,500. This unit is just across from the little playground area near the park side of the complex. The sellers purchased the property in late 2002 for $165,000.
More bay front action. On Wednesday buyers had their offer accepted on this lovely 5-bedroom, 3-bath, 3,256 square foot home with a dock situated on over 100′ of waterfront. The sellers built the home in 1999 and have it listed for $749,900. It’s located in Peninsula Estates, one of the earliest subdivisions on the Cape, and it spans from bay to gulf with all of the properties conveying with deeded gulf and bay access. There are no HOA fees.
Down the road a bit in Ovation, buyers placed a successful bid on a first tier lot listed for $219,000. Back in 2005, the developer sold this 63′ by 70′. 0.10 acre homesite for an amazing $775,000. The current sellers picked it up in mid-2014 for a bargain basement price (comparatively) for $148,500.
Adjacent to the south side of Rish Park is Hibiscus Beach where sellers accepted an offer on this irregularly shaped quarter acre lot overlooking the gulf. The actual waterfront is part of the park, so this is technically a first tier lot but one with a promise of never having anything built to block its views. The sellers bought it in 2013 for $310,000 and have it under contract with a list price of $480,000.
Down on the south side of the Cape tucked away behind trees near the bay is a little 656 square foot, 2-bedroom, 1-bath cottage on a half-acre lot newly listed for $149,000. It’s one of the Salt Works Cabins units built in 1991.
Over in Gulf Pines the parties shook hands on this 102′ by 244′, half-acre first tier lot listed for $149,900. Gulf Pines is a quiet residential community in a FEMA eligible stretch along C-30.
Indian Summer is a quiet little neighborhood tucked away off the beaten path just off the first big curve on Indian Pass Road. With its oyster shell lined streets and palm tree studded lawns it is like stepping back in time to Old Florida. Buyers fell in love with its charms on Monday and wrote an offer on this 3-bedroom, 2 1/2-bath, 1,547 first tier home listed for $459,000. The home offers very nice view of the gulf. It was built in 1999, and the current owners purchased it in mid-2002 for $385,500.
Our final new contract is a lagoon-front home on Indian Pass overlooking the Gulf of Mexico from high atop a lovely bluff. This 3-bedroom, 3 1/2-bath, 2,076 square foot home was built in 2009. On Friday, it went under contract with a list price of $639,000.
That’ll do it for this week. Glad to have so much activity going on as people are snapping up great deals on premium properties. If you’re looking for terrific values, there’s no time like the present to start searching, and I’ll be glad to help you with that. Simply call or text me at 850-227-5197 or use good old reliable email to [email protected]. Get in on the sales action here at the Cape where the only thing hotter than the weather is our real estate market. Have a terrific week, keep cool, and hope to see you back again next week. Thanks for stopping by today. Take care.