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Cape San Blas Real Estate Week in Review - May 20-26, 2017

Published on May 26, 2017 by Sherri Dodsworth under Cape San Blas

For Sale Sold SignBring on those lazy, hazy, crazy days of summer!  People had more summer time fun time on their minds this week as we took a bit of a breather and the market placed slowed just a tad. Just two closings, but we did manage to write up seven new contracts. Realtors posted “For Sale” signs on seven new listings, and sellers changed the prices on two others. Our inventory inched up by three, closing out the week at 267, with 78 homes and 189 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Cape San Blas First Teir Lot Under Contract Feb. 2017 with List Price of $50,000

The first of our two sales is down on the south side of the Cape where this irregularly shaped, first tier quarter-acre lot was listed for $50,000. The main parcel measures roughly 44′ by 260′.  The seller purchased it in the summer of 2015 for $55,000, and sold it on Thursday for $45,000.

Indian Pass Fixer Upper Under Contract May 2017 with List Price of $98,000

Our second sale takes us over to Indian Pass where this classic fixer-upper on Neptune Street was snapped up last week just as soon as it landed in the MLS. The 2-bedroom, 1-bath, tiny little 678 square foot cottage debuted sporting a $98,000 price tag which generated a lot of interest. She was built in ’85 and needs a lot of TLC.  It’s situated on a roughly quarter-acre, 75′ by 110′ lot and is in an X zone. Neptune Street is in Indian Pass Beach subdivision which is a neighborhood grandfathered for FEMA flood insurance. On Friday the lucky bid winner took title for $115,000.

Cape San Blas Townhouse Under Contract May 2017 with List Price of $234,900

Now on to our seven new contracts starting off where we so often do, on the north end of the Cape where buyers had their offer accepted on this 2-bedroom, 2 1/2-bath, 1,346 square foot townhouse listed for $234,900. The sellers bought it from the developers in 2002, the year it was built, for $164,500.

Ovation Bay View Lot Under Contract May 2017 with List Price of $45,900

About a mile down the road in Ovation, the parties shook hands on this irregularly-shaped, roughly quarter-acre bay view lot listed for $45,900. The sellers bought the lot during the developer’s bargain basement sale in 2012 when they let this one go for $22,500.

Tampico Drive is just south of Cape Palms Park and leads down to the Cape Shoals townhouses.  It’s where buyers fell in love with this 4-bedroom, 3 1/2-bath, 2,066 square foot home built in 2001.  The home offers full blown Florida fun in the sun complete with gulf view pool, palms and tiki bar. The sellers bought the X-zone home in 2004 for $875,000 and have it listed for $599,000.

Cape San Blas Gulf View Lot in Sand Trace Under Contract May 2017 with List Price of $189,000

Just about a half mile further south is a new 12-l0t subdivision called Preserve at the Cape, where we’ve seen several sales recently. This week we have a 75′ by 112′, 0.19-acre 2nd tier lot that went under contract on Friday with a list price of $189,000. According to the developer, when the project is complete, it will have a paved entry road, underground utilities and no HOA fees.

Cape San Blas Gulf View Lot Under Contract May 2017 with List Price of $106,000

Our next contract is in Seagrass which is adjacent to the south side of the Preserve at the Cape. Here buyers had their offer accepted on a 95′ by 116′, quarter-acre, X-zone lot listed for $106,000. The sellers picked it up at a bank sale in late 2014 for $78,000.

Cape San Blas Gulf Front Home Under Contract May 2014 with List Price of $699,000

Back down on the south side of the Cape in Boardwalk, sellers accepted an offer on their 4-bedroom, 4-bath, 1,898 square foot gulf front home built in 2013 that went under contract Tuesday  with a list price of $799,000, a price which attracted multiple offers. The sellers bought it in the summer of 2014 for $663,000.  It’s situated on a quarter-acre lot in the X zone.

Bay View Lot Under Contract with List Price of $48,000

Last stop of the day is out on C-30 where contract terms were agreed to on Friday on this 100′ by 218′ half-acre bay view lot listed for $48,000. The MLS says the lot can have an RV but my understanding from conversations with county officials is that under the current RV Ordinance that right is not transferable to a new owner so I’m not sure why this might be an exception. The lot last sold in 2004 for $103,000.

That about wraps it up for this week’s review. Thanks so much for stopping by today. If you’re thinking of buying or selling, shoot me an email to [email protected] or call me or text to 850-227-5197. Have a great holiday weekend and don’t forget to take a few moments to remember those who gave their all to give us our freedom.

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