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Cape San Blas Real Estate Week in Review - Oct. 22-28, 2016

Published on October 28, 2016 by Sherri Dodsworth under Cape San Blas

For Sale and Sold SignI was beginning to wonder if election angst might be slowing things down a bit, but we had a decent week, closing three sales and writing up four new contracts. Sellers added seven new listings and changed prices on eight others.    Our inventory remains unchanged closing once again at 269, with 93 homes and 176 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.

jubilation-lot-under-contract-september-2016-with-list-price-of-79900

We’ll kick off our review of this week’s three sales on the south side of the Cape in Jubilation where a 46′ by 119′ interior lot listed for $79,900 went under contract in mid-September. Back in 2004 it sold for $305,000, and this week it went for $65,000.

Gulf Pines First Tier Home Under Contract September 2016 with List Price of $549,000

Our second sale is over in Gulf Pines. It’s a 3-bedroom, 3-bath, 2,400-square foot first tier home listed for $549,000.  The home is FEMA-eligible and has a separate suite downstairs. The sellers bought it in 1995 for $130,000, and sold it this week for an even $500,000.

Indian Pass Lagoon Front Home Under Contract July 2016 with List Price of $639,000

Our final sale 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. It went under contract at the end of September with a list price of $639,000, and the new owners picked up the keys at closing on Friday for $625,000.

cape-san-blas-interior-lot-under-contract-october-2016-with-list-price-of-47500

Four new contracts this week and they’re a study in stark contrasts – two interior lots and two large parcels of gulf-front acreage. We’ll return to the north end of the Cape for our first contract, which is on a 69′ by 171′, quarter-acre lot on Labrador Drive in Park Point. The sellers bought it in early 2006 for $295,000, and have it listed for $47,500.

cape-san-blas-interior-lot-under-contract-october-2016-with-list-price-of-55000

Half a mile or so south is Peninsula Estates where buyers penned a contract on this 75′ by 225′, third-of-an-acre “X” zone lot listed for $55,000. All of the lots in this subdivision include deeded gulf and bay access, and there are no HOA fees. The seller picked this up in the summer of 2008 for $79,000.

8-7-acres-of-cape-san-blas-gulf-frontage-under-contract-october-2016-with-list-price-of-4-852m

Two back-to-back rarities here – large acreage, gulf-front parcels on the Cape. First up, a stunning 8.7-acre piece with 417′ on the water and averaging 900′ deep. The seller has had this parcel for quite some time so I didn’t find any sales history on the property appraiser’s site.  It’s listed for $4.852M.

5-acres-on-the-gulf-at-cape-san-blas-under-contract-october-2016-with-lis-price-of-2-769m

The other outsize parcel is a 238′ by 950′, 5-acre gulf front property listed for $2.769M.  Once again, I didn’t find any significant sales data on line. Both of these parcels front the western-facing beach on the Cape.

That does it for today. As you can see, there are still some tremendous values on the market; if you’re interested in finding out more let me know. Call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started. Have a terrific week. Thanks so much for taking time to stop by today – hope to see you back here next Saturday!

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