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Cape San Blas Real Estate Week in Review - Dec. 3-9, 2016

Published on December 10, 2016 by Sherri Dodsworth under Cape San Blas

Old Man Winter served up a quick free sample this week sending us a taste of chilly weather, but try as he might, he couldn’t chill our red-hot real estate market as we closed four sales and wrote up five new contracts. Sellers offered up nine new listings and changed prices on five others. With all that, our inventory dropped a little, closing the week at 259, down three from last week, with 86 homes and 173 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market MLS.  Lots to look at today, so let’s get rolling.


We’ll launch our look at this week’s four sales on the north end of the Cape with a 69′ by 171′, quarter-acre lot on Labrador Drive in Park Point. The sellers bought it in early 2006 for $295,000, listed it in late October for $47,500, and sold it for $42,000.


We have very few condos on the Cape, but some of the few we do have are down on the south side of the Cape in the Club at Cape San Blas.  A little over two weeks ago buyers had their offer accepted on this 3-bedroom, 2-bath, end-unit gulf-front condo listed for $425,000. The sellers bought it from the developer back in 2006 for $694,900, and turned over the keys to the new owners on Wednesday for $415,000.


We’re leaving the Cape and heading out onto C-30 for our third sale which is an 87‘  by 500’, 1-acre parcel on the north/left side of the road about 2 miles east of the world famous Indian Pass Raw Bar.  Back in 1997 this lot was part of a roughly 4-acre parent parcel for which the sellers paid $34,000 at that time.  This week they listed and sold it for $45,000.


We’ll wrap up our sales today over on Oak Street on Indian Pass where the parties shook hands on this 75′ by 105′, 0.18-acre lot with a 360-square foot shed listed for $99,000. The property has a well and temporary power pole.  The sellers bought it in 2002 for $85,000, and sold it on Friday for $85,000.  $85,000 in 2002 is the equivalent to $114,213 today in inflation-adjusted dollars.


Now on to our five new contracts, the first two of which are located in Peninsula Estates, one of the original subdivisions on the Cape, located about a half mile south of the entrance to the state park. The first is on a 3-bedroom, 2-bath, 1,328 square foot interior home on a third of an acre lot listed for $250,000. She’s an early ’90’s model in need of some TLC at this point, and being sold unfurnished. The seller bought it in mid-1999 for $93,500, and has it listed for $250,000.


Kitty-cornered behind that home is a 75′ by 225′, 0.36-acre lot listed for $65,000, also owned by the same seller, who picked up this lot in December 2000 for $28,000.  All of the properties in this neighborhood enjoy deeded access to both the bay and gulf, and there is no HOA or HOA fees.


Adjacent to the south side of Peninsula Estates is Ovation, the site of our third new contract. This 52′ by 121′ interior lot with a list price of $43,900 caught the eye of a buyer who got it under contract on Tuesday.  The sellers purchased it in March of this year for $31,000. Prior to that it sold in mid-2012 for $19,000.


We’ve seen a couple of multi-acreage gulf front offerings on the Cape recently, one of which went under contract on Friday.  Not many of these deep 100′ wide lots left any more. This one measures 102′ by 890′, spans from the gulf to Cape San Blas Road, for a total of roughly 2.24 acres, and is offered for $1.3M.


Our fifth and final new contract was written on a 5-bedroom, 3 1/2-bath, 1,829 square foot gulf front home over on Sweetwater Shores Drive in Money Bayou. It’s situated on a half-acre 50′ wide lot for which the seller paid $86,000 in 1998. The home went under contract on Friday sporting a $779,000 price tag.

That about does it for this week. There’s still time to wrap a nice property up in time to surprise someone this Christmas with a little piece of paradise along the Forgotten Coast. If you’d like more info on these or other opportunities call or text me at 850-227-5197 or shoot me an email to [email protected] . Have a great week, and since the Army-Navy Classic kicks off at 3 p.m. today . . .



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