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Cape San Blas Real Estate Week in Review - Oct. 29-Nov. 4, 2016

Published on November 4, 2016 by Sherri Dodsworth under Cape San Blas

Buyers seemed to stand on the sidelines this week as our campaign-weary nation finally nears the finish line of The Longest and Weirdest Campaign Season Ever. Three sales closed on schedule, but only two new contracts were written up. We added nine new listings and changed prices on eight others. Our inventory swelled by five, closing the week at 274, with 91 homes and 183 lots for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

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

We’ll kick off our review of this week’s three sales at Hibiscus, on the gulf side, where the parties closed on this irregularly shaped first tier, 0.28-acre lot listed for $480,000. Why so high for a first tier, you ask? Because Rish Park owns a sliver of land 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, and sold it on Halloween for $460,000.


Our second sale is this 5-bedroom, 3 1/2-bath, 3,016 square foot gulf front home near Turtle Beach Inn in Indian Summer, situated on 68′ of beautiful waterfront. It was on the auction block with a list price of $750,000; the previous owners paid $1,565,000 for it in June 2005. It’s vacant and unfurnished, and in need of some TLC as it has been sitting vacant for quite some time now. The new owners picked up the keys at closing on Monday for $598,500.


Our third and final sale is a 3-acre lagoon from lot measuring 150′ by 875′ listed for $22,000. This is out along the C-30 Corridor, about half a mile east of the Indian Pass Raw Bar.  It’s in an AE flood plane, and also in the CBRA zone. The property appraiser’s site indicates the seller bought it in 2003 for $62,500; on Friday, they sold it for $17,000.


Only two new contracts this week, both way up on the north end of the Cape, beginning with this 3-bedroom, 3 1/2-bath, 2,400 square foot first tier home on Secluded Dunes Drive listed for $719,900. It’s being sold furnished, has an elevator, and comes with deeded gulf access. According to county records, the sellers bought the lot alone in late 2004 for $515,000.  They built the home in 2010, and first listed it in September 2015 for $825,000.


About a quarter mile down the beach, our second contract is on a gulf-view, 2-bedroom, 2 1/2-bath, , 1,593-square foot, pond-front town home in Barrier Dunes. The circa-1989 home last sold in the summer of 2013 for $235,000, and went under contract this week with a list price of $265,000.

That didn’t take long – not a whole lot to cover this week. If you’re interested in checking out some of the attractive values out there, let me know – call or text me at 850-227-5197 or shoot me an email to [email protected] and let’s get started. Have a terrific week and please stop back soon and, as always, thanks so much for taking time to stop by today.

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