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Cape San Blas Real Estate Week in Review - Week of Sept. 10-16, 2016

Published on September 16, 2016 by Sherri Dodsworth under Cape San Blas

As summer begins to fade and the quieter days of autumn return to our beaches, the sizzling hot action of the past few months simmered down a bit giving us a moderately active week with two closings and six new contractssix new listings and seven price changes.  All that activity added three to our inventory, closing the week at 268, with 94 homes and 174 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market.

Gulf Front Lot Under Contract August 2016 with List Price of $325,000

The first of our two sales is a 60′ by 414′ deep, 0.63-acre gulf front parcel at Curve at the Cape listed for $325,000. They bought it in the summer of 2004 for $650,000, and sold it this week for $250,000.

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. Our second sale is a three-quarters of an acre lot, measuring 100′ by 330′ that went under contract back in mid-June with a list price of $65,000. The sellers bought it in mid-1998 for $120,000, and sold it on Friday for $57,000.


We’ll kick off our review of this week’s six new contracts on the north end of the Cape in Park Point, where the quiet seclusion of this quarter-acre lot in Park caught a buyer’s attention.  The sellers bought just last summer in July 2015 for $40,000, and had it listed for $64,900. When the developer sold it back in 2003, it went for $179,000.


Buyers were shopping the quiet side apparently this week with contract number two being in Sunset Point, a subdivision adjacent to the south side of Part Pointe.  Here buyers had their offer accepted on a 80′ by 137′, quarter acre parcel listed for $57,900.  Interesting sales history here. The developer sold it in early 2004 for $190,000; it next sold on the courthouse steps for $20,200 in May of 2013. Just five months later in October 2013, those buyers sold it for a nice little quick profit at $33,000.


Contract number three is on a 117′ by 413′ first tier lot in Secluded Dunes listed for $99,000. This gated community truly offer seclusion, and all properties include deeded gulf access. The seller bought this in a multi-property purchase years ago so there is no meaningful recorded sales data for this parcel.


Down on the south side of the Cape in Jubilation this handsome 4-bedroom, 3-1/2-bath, 2,403 square-foot spec home went under contract on Monday with a list price of $499,900. Jubilation is the sister development of Ovation, both projects having been done by Ashwood Development of Atlanta in the mid-2000’s. Jubilation was their first community here on the Cape and they did quite well selling most if not all of the lots near the top of the market boom. Today’s home builder purchased the lot on which it’s located last October for $43,000, a real bargain compared to the $335,000 it sold for at the end of 2004.


Our next contract is also in Jubilation, just around the corner from the previous house. It’s a 46′ by 119′ interior lot listed for $79,900. Back in 2004 it sold for $305,000.


Who wouldn’t be attracted to a gulf front condo on the Cape with a $299,00 price tag?  Buyers penned a deal on this 3-bedroom, 2-bath, 1,176 unit on Monday. The sellers bought it in late 2012 for $221,000, a real steal compared to the $515,000 it went for in in January 2005.

That’s a wrap for this week. Lots going on – if you’re interested in finding a great value of your own, call or text me at 850-227-5197 or contact me at sherri@sherridodsworth and we’ll get started. I hope to hear from you soon, and really appreciate your taking time to stop by today.

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