I know two weeks does not a trend make, but we have yet another slow week, with three closings and only one new contract. Sellers added seventeen new listings and changed prices on six others. Our inventory grew by fifteen, ending the week at 297, with 87 houses and 210 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS.
The first of our three sales is in Hibiscus Bay, where the parties shook hands on this half-acre bay font lot listed for $250,000 featuring 80′ of gorgeous waterfront. The seller is the developer who held the property in private ownership until just recently. This attractive subdivision spans from bay to gulf, with a dock over the bay, gated gulf side homes with a community pool, and a gazebo overlooking the gulf. Late Friday afternoon, the happy new owners took title for $240,000.
Nestled between Paradise Gulf and San Dunes subdivisions lies a 4.3-acre parcel of land with 210′ of gulf front spanning 893′ from the gulf back to Cape San Blas Road. A quick check of the county records seems to indicate it has been in the family for some time as I found no significant sales date. They were asking $2.3M for it, and on Tuesday signed it over to the new owners for $1.75M. This is the site of Monarch Beach, a newly listed subdivision we’ll talk about under new contracts.
On the south side of the Cape on Crescent Palms Drive in Pine Bluff, the parties closed on this 3-bedroom, 3 1/2-bath, 2,114 square foot home listed for $839,900. It was built in 2012 on a nearly full acre lot featuring 55′ of gulf frontage. The lot alone sold in 2010 for $215,000. On Monday, the new owners picked up the keys at closing for $790,000.
Our sole new contract is on a first tier lot in a brand new subdivision that debuted in MLS this week. Monarch Beach has eleven lots and includes deeded gulf access for all owners. A 0.19-acre first tier lot was snapped up immediately with a list price of $269,000.
That’s a wrap for this week. I hope you’re enjoying the final few weeks of summer as we wind down from another busy tourist season here on the Cape. If you’re interested in finding out more about sales opportunities for coastal properties, call or text me at 850-227-5197 or shoot me an email to [email protected] . Have a terrific week, and thanks so much for taking time out to stop by today.