If we keep this pace up, 2017 is going to be a strong year moving a lot of properties out of the inventory. We had another impressive showing with seven sales, seven new contracts, nine new listings, and four price changes. With all that activity, our inventory shed another two, closing the week at 242, with 71 homes and 171 lots listed for sale in the MLS for the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what buyers picked up this week.
We’ll kick off our review of this week’s seven sales up on on Hemmingway Circle up in Sunset Pointe where buyers had their offer accepted in mid-January on this 93′ by 210′ interior lot listed for $48,000. The sellers bought it in March 2005 for $375,000 and sold it on Wednesday for their full list price of $48,000.
Sale number two is located on Catamaran Drive just a bit north of The Tradin’ Post. Three weeks ago 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, and sold it on Friday for $135,000 cash. This is in Feather Sound, a subdivision with no HOA or HOA fees.
Next stop is on the south side of the Cape in Eventide, a subdivision directly across the street from my office. This 0.34-acre bay front lot was listed for $52,500 and sold on Valentine’s Day for $45,000. Bay front lot or roses and a card for Valentines???? Hmmm. Somebody just set a high holiday hurdle with this one, fellas. This is at the head of the bay where the water is shallow and this particular area has a fair amount of marshland to contend with between the waters of the bay and terra firma.
We’ve been seeing a lot of this country dirt road on the Cape called Sand Trace the past few weeks, and it’s back again today as the setting for our fourth sale, 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. On Friday the parties closed for $30,000.
Sale number five is over along C-30 on Sweetwater Drive where this gulf front, 4-bedroom, 3-bath, 1,777 square foot home on 50′ of waterfront went under contract in early January with a list price of $599,900. The sellers bought it in 2000 for $347,500, and first put it on the market in mid-2012 sporting a $725,000 price tag. On Friday they handed over the keys to the new owners for $570,000.
Not far from Money Bayou is Treasure Shores, the site of our sixth sale, a quarter-acre first tier lot. Treasure Shores is a FEMA eligible neighborhood, and has no HOA fees. The sellers bought the property in early 2000 for $55,000, got it under contract on two weeks ago with an asking price of $149,900, and signed over the title at closing on Tuesday for $130,000, another Valentine’s Day closing.
The last of our seven sales is 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, a wee bit more than the $37,500 it fetched on Friday.
Now on to our seven new contracts, returning to the north end of the Cape, stopping this time in Sunset Point where buyers had their offer accepted on this 62′ by 131′, 0.58 acre gulf view lot second tier lot listed for $179,000. This property last sold in 2003 for $310,000.
We’re heading back down to the south side of the Cape for contract number two, this time stopping on Florida Avenue in Boardwalk where this 3-bedroom, 3-bath, 1,691 square foot home went under contract on Wednesday with a list price of $554,000. The circa 1995 home offers a view of the gulf from its deck. It last sold in the summer of 2005 for $625,000
We’ll leave the Cape turning left onto C-30 heading towards town, and travel to this bay view 106′ by 252′, half acre lot recently listed for $69,000. The State of Florida owns the land between the lot and the bay. The sellers picked this up in a bank sale in 2012 for $37,000; back in 2004 it sold for $239,000.
Contract number four is over in Gulf Pines where buyers had their offer accepted on a 100′ by 252′, 0.59-acre first tier lot listed for $149,000. The sellers bought it in mid-2012 for $119,500 from folks who had paid $165,000 for it in late 2009.
Our next two contracts are over in Money Bayou starting off with this 4-bedroom, 4-1/2-bath, 1,919-square foot gulf front newly built spec-home that went under contract on Friday. The builder originally listed it in January 2016 for $930,000 and has been tweaking the price downward ever since finally hitting that sweet spot in the market when he lowered the price as few weeks ago to $759,000 .
The lot adjacent to that house is also listed for sale with an asking price of $350,000. It’s an irregularly shaped property as you can see in the above photo with the meandering bayou running right through it.
Our final stop of the day is on Painted Pony Road over in Indian Summer on Indian Pass where the parties shook hands over a deal on this 92′ by 42′, 0.72-acre “Canal Front” lot listed for $72,000. The sellers bought it back in the summer of 2000 for $40,300.
That’ll do it for today. Our inventory is low, and I’m looking for new listings so if you’re thinking of selling, let’s talk. Call or text me at 850-227-5197 or email me at [email protected]. I hope wherever you are this weekend you’re warm and cozy. If you’re up there in blizzard country shoveling snow, keep in mind our “white drifts” are warm and sunny, and waiting for you here along Florida’s Forgotten Coast.