The rain went away and real estate ramped up again. We had a strong week closing eight sales and adding three new contracts. Sellers added eight new listings, and changed prices on seven others. Our inventory grew by six, closing the week at 280, with 83 homes and 197 lots listed in the Cape San Blas, Indian Pass, and C-30 Corridor MLS. Let’s see what buyers have been up to.
We’ll launch into our review of this week’s eight sales on the north side of the Cape in Barrier Dunes where our first sale is a 2-bedroom, 2-bath, 1,184-square-foot gulf view townhouse built around 1998. The seller bought it in ’99 for $124,600 and is had it listed for $277,000. This has been an owner-occupied home, not a vacation rental. The new owners took title on Thursday for $261,000.
Our second sale is a first tier, gulf view lot on Clearwater Drive in Dolphin Beach to Bay. The sellers bought the 50′ by 80′, half-acre, “X” zone lot in 1998 for $52,500, and have it listed for $269,500. On Wednesday the new owners paid cash for that full list price of $269,500.
The next three sales are all related having been carved from one large parcel of gulf front acreage on the south side of the Cape. The first two have together roughly 140′ of gulf front, spanning 1559′ from the gulf to Cape San Blas Road, for a total of approximately 4.8 acres. The investor selling them bought the parent parcel in 2013 as a short sale for $454,000. In 2003 developers had this property slated for a development to be known as Terra Sands but it never materialized, and was eventually abandoned.
This third partial parcel of the parent parcel measures roughly 60′ by 1500′, a little over 2 acres and is listed for $425,000. The closing occurred last Friday but was entered into the MLS this week. The buyer paid $1.15M for the three parcels with the seller providing seller financing.
The nearby community of Boardwalk is home to this recently renovated 2-bedroom, 2-bath, 1,296 square-foot vacation rental home listed for $380,000. It features a sparkling brand new kitchen with all new cabinets and appliances, and 2 beautifully renovated baths. This quiet community has a lovely pool overlooking the Gulf, and a wide, expansive stretch of beach. Current HOA fees are $1,060 paid annually, or only about $88 per month. The sellers bought it in August 2003 and handed over the keys on Thursday to the happy new owner for $360,000. The buyer used conventional financing and paid for owners title insurance and closing attorney costs.
Our seventh sale is a bank-owned, 3-bedroom, 4-bath, 2,324 square foot gulf front home in Cape Dunes listed for $429,900. The previous owner bought it in early 2005 for $905,000. This time around it went for $425,000 cash.
Our eighth and final sale is down on the south side of the Cape where the parties closed on this 6-bedroom, 4-bath, 3,245-square-foot gulf view home in Two Palms listed for $649,000. The home was built in 2000, and the sellers bought it in early 2015 for $499,000. They’ve done a lot of upgrades, renovations, and brought in a lot of lovely new furnishings since then. All that hard work paid off on Friday for $18,500 with the buyers using conventional financing.
Now on to our three new contracts starting off way up on the north end of the Cape in Secluded Dunes where sellers accepted an offer on their exquisitely designed 6-bedroom, 4-bath, 3,626 square foot gulf front home listed for $1.7M. The contemporary beauty is situated on over 200′ of secluded gulf front property in a gated community.
Next up, a 4-bedroom, 4 1/2-bath townhouse at nearby Seacliffs that went under contract Wednesday with a list price of $319,000. The sellers bought it in early 2013 for $220,000. The 1,944 square foot unit was built in 2001.
All of the new contract action was on the north end of the Cape this week and we’ll wrap things up at Barrier Dunes where buyers had their offer accepted on this 38′ by 42′ homesite on Lakeshore Drive listed for $59,900. The sellers bought it in 2013 for $35,000; prior to that it sold in late 2009 for $99,000.
That does it for this week. Market demand remains strong, so if you’re thinking of buying or selling, I can help. Call or text me at 850-227-5197 or send an email to [email protected] and we’ll get started. I appreciate your stopping by today and hope to hear from you soon.