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Cape San Blas Real Estate Week in Review - Jan. 28-Feb. 3, 2017

Published on February 3, 2017 by Sherri Dodsworth under Cape San Blas

For Sale Sold SignThe new year continues its super sizzling start as we turned in yet another banner week of sales activity, closing eight sales and writing up nine new contracts. We added eight new listings and changed prices on four others. Our inventory was able to shed another nine properties, closing the week at 235, with 68 homes and 167 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market. We have quite a bit of territory to cover today so let’s get right to it.


The first two of our eight sales 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. First up is a 3-bedroom, 2-bath, 1,328 square foot interior home on a third of an acre lot. 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, listed it listed for $250,000, and sold it on Tuesday for $249,000.


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 bought it in December 2000 for $28,000.  The buyer who bought the house bought this lot as well, taking title on Tuesday for $50,000.  All of the properties in this neighborhood enjoy deeded access to both the bay and gulf, and there is no HOA or HOA fees.


Sale number three takes us down to the south side of the Cape in Jubilation where this handsome 4-bedroom, 3-1/2-bath, 2,403 square-foot spec home went under contract at the end of December with a list price of $489,900. Jubilation is the sister development of Ovation, both projects completed by Ashwood Development of Atlanta in the mid-2000’s. Jubilation was their first community 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 in October 2015 for $43,000, a real bargain compared to the $335,000 it sold for at the end of 2004. If this has a familiar look to it that may be because it was briefly under contract once before in September.  This time she made it all the way down the isle with the new owner picking up the keys at closing on Friday for $480,000.


A few blocks down the street is The Club at Cape San Blas where our fourth sale is this attractive 3-bedroom, 2 1/2-bath, 1,620 square foot townhouse style condo listed for $329,000. When it was built at the height of the market in 2004, it sold for $499,900. This beautifully furnished home features gorgeous heart of pine floors, granite counter tops throughout, and 10 foot ceilings. The sellers purchased it as a short sale in August 2012 for $196,000, and have sold it for $320,000.

Forgotten Coast First Tier Home Under Contract January 2017 with List Price of $599,000

We’re selling things in twosies today, with our next two sales being over in Treasure Shores starting with this 4-bedroom, 3-bath, 1,930 square-foot first tier home built in 2014 that went under contract in early January with a list price of $599,000. The owner bought the lot in late 2013 for $96,100, and built the home the following year.  It’s located in the “X” zone in Treasure Shores, an area eligible for FEMA flood insurance. He signed the title over to the new owners for $570,000.


Right across the street is this handsome 4-bedroom, 3-bath, 1,960-square foot home under contract since late December with a list price of $744,000. The sellers originally listed it in March of last year for $879,000. They bought the 75′ wide, half-acre-plus lot in November 2014 for $215,000 and then had Big Fish Construction build the home. On Tuesday the new owners picked up the keys at closing for $742,000.


Sale number seven is 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 in early December sporting a $779,000 price tag, and closed on Thursday for $768,000.


Our eighth and final sale is out on Indian Pass, where this 4-bedroom, 3 1/2-bath, 1,772 square foot lagoon front home listed for $550,000 has been under contract since late November. The home is situated on a 1.8 acre parcel with 125′ of waterfront. The sellers bought the lot in 1995 for $24,000 and built the home in 1999. This week it sold for $535,000.

Cape San Blas Interior Lot Under Contract January 2017 with List Price of $55,000

Now on to our nine new contracts, starting off on the north end of the Cape in Park Pont where buyers penned a deal on this 52′ by 170′, quarter-acre interior corner lot listed for $55,000 for which the sellers paid $135,000 in 2003. This pretty little subdivision lies adjacent to the west side of the state park and is very peaceful and quiet. Lots include deeded gulf access.

Barrier Dunes Pond Front Townhome Under Contract January 2017 with List Price of $192,500

In nearby Barrier Dunes, sellers accepted an offer on their 2-bedroom, 2-1/2-bath, 1,377 square foot pond front townhome listed for $192,500. This home was one of the original units in the development being built in 1985.  The current owners purchased it in January 1999 for $90,000.

Ovation Bay View Home Under Contract January 2017 with List Price of $549,000

We’ll travel about a half mile further south on the Cape to the bay side of Ovation, where someone fell in love with this handsome 4-bedroom, 4-1/2-bath, 2,178 square foot home with gulf and bay views listed for $549,000.  The sellers purchased the lot in mid-2013 for $50,000, and finished building the home in 2015.

Ovation Gulf View 2nd Tier Lot Uder Contract January 2017 with List Price of $160,000

Over on the gulf side of Ovation, the parties came to a meeting of the minds on this 50′ by 109′ foot, second tier “X” zone lot listed for $160,000. The sellers bought it in the summer of 2013 for $89,000, quite a bargain compared to the $455,000 the developers sold it for in late 2005.

Cape San Blas Gulf View Lot Under Contract January 2017 with List Price of $149,000

Contract number five is located on Catamaran Drive just a bit north of The Tradin’ Post. Here a buyer had her offer accepted on this 100′ by 140′ gulf view, second tier lot with deeded gulf access listed for $149,000. The sellers bought it in mid-2012 for $53,500. This is in Feather Sound, a subdivision with no HOA or HOA fees.

Cape San Blas Gulf View Home Under Contract January 2017 with List Price of $399,000

Our sixth sale takes us back down to the south side of the Cape, this time turning onto McCosh Mills Road in Piney Woods where this 3-bedroom, 2-bath, 1,224 square foot home went under contract last weekend with a list price of $399,000. The sellers purchased the rental home in the summer of 2012 for $250,000.

Cape San Blas Bay View Lot Under Contract Feb. 2017 with List Price of $35,000

This country dirt road on the Cape is called Sand Trace, and it’s the setting for our next contract which is on a 150′ by 100′, third-of-an-acre  bay view lot recently listed for $35,000. It is one of several lots carved from a larger parent parcel for resale.

First Tier Gulf View Lot in Treasure Shores Under Contract September 2016 with List Price of $149,900

We return to Treasure Shores for contract number eight where buyers had their offer accepted on this quarter-acre first tier lot.  Treasure Shores is a FEMA eligible neighborhood, and has no HOA fees.  The sellers bought it in early 2000 for $55,000, and went under contract on Friday with an asking price of $149,900.

We’ll wrap things up today out on C-30 past the Indian Pass Raw Bar with this 100′ wide, half-acre lagoon front lot listed for $45,000. Back in 2005 at the height of the market boom this property sold for $285,000.

That’ll do it for today.  With our housing inventory so low I’m looking for more new listings to sell so if you’re thinking of selling, let’s talk. I’d love to be your listing agent and put you together with my readers who are calling me looking for coastal properties. Reach me on my cell at 850-227-5197 or shoot an email to [email protected].  In most of the country it’s too cold to be outside anyway, so let’s get together and talk real estate. Stay warm – and thanks so much for stopping by.

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