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Cape San Blas Real Estate Week in Review - Aug. 27 - Sep. 2, 2016

Published on September 5, 2016 by Sherri Dodsworth under Cape San Blas

Hermine threatened our area throughout the day on Thursday, but fortunately for us, drifted eastward during the evening, leaving relatively minor damage in its wake relative to what we were braced for from the original forecasts. The west-facing beach took some hits, with many beach walkovers washed away, typical when tropical storms pass through, and several homes and townhouses that were already dealing with erosion issues had those problems worsened that much more. I am not aware of any structures here actually being lost to the storm. We never lost power.  From damage being reported elsewhere, we really feel as if we dodged a bullet.

Hermine didn’t rain on our real estate parade at all, as we had a strong week, closing seven sales and putting five properties under contract. Sellers added seven new listings, and changed prices on five others.  All that activity chopped a nice chunk out of our inventory, dropping it by eleven to close the week at 265, with 90 houses and 175 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS.

Cape San Blas Barrier Dunes Townhouse Under Contract July 2016 with List Price of $192,500

The first of our seven sales is on the north end of the Cape in Barrier Dunes where the parties closed on this 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

About a mile down the road on the bay side of Ovation, our second sale is this 37’ by 118’, 0.12-acre lot overlooking beautiful St. Joe Bay with a totally unobstructed view listed for $114,900. The sellers bought it exactly one year ago for $105,000, the same price they closed for on Friday.

Cape San Blas Bay Front Home Under Contract June 2016 with List Price of $449,900

Our next stop is Hibiscus Bay, a pretty little community south of Rish Park with deeded gulf access and a nice community pool. A happy new owner took title to this pleasant bay front, 3-bedroom, 3 1/2-bath, 1,700 square home situated on a 90’ wide waterfront lot. The seller had it listed for $449,000, and closed for $433,000.

Cape San Blas Gulf Front Home Under Contract with List Price of $1.25M

Next up is a recently listed 5-bedroom, 5 1/2-bath, 3,399 square foot gulf front home on Haven Road that went under contract in mid-July with a list price of $1.25M.  It was built in 2006, and is centered upon 55′ of beach front.  The sellers have owned it for ten years, having bought it in 2006 for $850,000. They turned over the keys at closing on Thursday for $1,202,500.

Second Tier Lot on the South Side of the Cape Under Contract July 2016 with List Price of $84,900

Down on the south side of the Cape on Turnstone Drive in San Blas Plantation, parties closed on this 83′ by 187′, one-third acre second tier lot listed for $84,900. Property owners in this community enjoy deeded gulf access, and bay access as well via a reciprocal agreement with Eventide, a little subdivision located directly across the street. The sellers purchased this property in October 2003 for $177,500, and sold it on Thursday for $72,000.

Indian Pass First Tier Home Under Contract July 2016 with List Price of $459,000

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 last month 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 views of the gulf. It was built in 1999; the sellers bought it in mid-2002 for $385,500, and closed on Thursday for $400,000.

Indian Summer Gulf Front Lot Under Contract August 2016 with List Price of $515,000

The gulf front street in Indian Summer is Chickasaw Lane, and it’s the site of our seventh and final sale. New owners took title to this 67’ by 224’, 0.35-acre gem for $340,000, well below the seller’s asking price of $515,000.

Barrier Dunes Townhouse Under Contract September 2016 with List Price of $269,000

Now on to our five new contracts, returning to Barrier Dunes, this time stopping on Barrier Dunes Drive where this 2-bedroom, 2-1/2-bath, 1,593-square foot townhouse listed for sale on Monday went under contract on Friday with a list price of $269,000. The sellers bought it in May of 2008 for $337,700.Cape San Blas First Tier Home Under Contract with List Price of $439,900

On Flamingo Lane, just a bit south of Coneheads 8020 Restaurant, this little 3-bedroom, 2-bath, 1,296-square foot first tier home went under contract Wednesday with a list price of $439,000. It was built around 1990 and is ready for a little makeover to bring her up to date. It’s on a one-third acre lot with amazing gulf views, so she is definitely worth the effort.  There’s room enough on the property to build a pool to take it to the full beach retreat package.

Cape San Blas First Tier Lot Under Contract September 2016 with List Price of $480,000

More action at Hibiscus, this time on the gulf side, where the parties shook hands on this irregularly shaped first tier, 0.28-acre lot listed for $480,000. Why so high for a first tier, you ask? Because a sliver of Rish Park owns between the lot and the shoreline, meaning it will never be developed, so the lot is essentially gulf front, but legally first tier. More importantly though, it is drop dead gorgeous. The sellers bought it in May 2013 for $310,000.

4+Acres on the Gulf in Cape San Blas Under Contract with List Price of $2.298M

Our fourth contract is a rare find, indeed.  Investors snapped up this 4.3-acre, 200′ by 900′ gulf front parcel listed for $2.298M. If it looks somewhat familiar that may well be because it briefly had another contract on it back in mid-June that didn’t work out. 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.

Indian Pass Gulf Front Lot Under Contract September 2016 with List Price of $219,900

We’ll wrap things up today by returning to Indian Pass, where sellers accepted an offer on their 50’ wide, 578’ deep, 0.66-acre gulf front lost listed for $219,000.

That does it for this week. If you’re browsing through listings and find some you’d like more info on I hope you’ll call me at 850-227-5197 or write me at [email protected]. Things are moving well so if you’re considering selling, I’d love to work with you and will be glad to provide you with a comparative market analysis to help you get an idea of what your property might bring in the current market.

Have a safe and fun-filled Labor Day weekend. Hope to see you back here soon. Thanks so much for stopping by.

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