Our real estate market returned to a more normal pace during the first full week of autumn, turning in three sales and six new contracts. Sellers added five new listings, and tried price adjustments on four others. Our inventory barely changed, shedding only one, closing the week at 300 total, with 90 homes and 210 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.
The first of our three sales is a 4-bedroom, 4 1/2-bath townhouse on the north end of the Cape in Seacliffs that went under contract in early August with a list price of $319,000. The sellers bought it in early 2013 for $220,000 and sold it on Monday for $310,000. The 1,944 square foot unit was built in 2001.
This second sale is a property that was not listed in the MLS but was entered this week for comparable sale purposes when it sold. It is a commercial lot behind the Trading Post, the owners of which decided to buy this parcel for additional space for $150,000.
Our third and final sale is a circa-1983, 2-bedroom, 1-bath, 1,064 square-foot bay front home with dock listed for $374,900. It’s located on a 94′ by 750′, 1.79-acre lot located 200′ north of Scallop Cove. She’s in need of some TLC but is a great little bay retreat to feed your fishing, kayaking and scalloping habit. The lot itself offers several investor possibilities – the first 300′ of depth from Cape San Blas Road can be used for commercial, and there’s enough density to allow for two more lots to be platted from the parent tract. The buyers picked up the keys at closing on Thursday for $332,000.
OK, now on to our six new contracts, kicking things off on the north end of the Cape on Labrador Lane in Park Point where buyers had their offer accepted on this 80′ by 145′, quarter-acre lot listed for $55,000. The seller bought it in late 2004 for $299,000; the MLS states the Seller stipulates that the buyer will pay closing costs. Park Point is a pretty, secluded little neighborhood with low HOA fees of less than $100 per month and all lots include deeded gulf access.
A little bit further down the road just past Coneheads Restaurant, our second contract is on a newly built 3-bedroom, 2 1/2-bath, 1,739 square-foot home on Bamba Lane listed for $499,000. The sellers bought the quarter-acre X zone lot on which it is situated in May 2016 for $120,000.
Contract number three is on a 100′ by 965′, 2.2-acre by front lot listed for $479,000. The sellers bought the property in mid-2014 for $255,000. In 2016 they added a dock and boat lift.
Our fourth contract takes us to the south side of the Cape to Boardwalk Avenue where this 2-bedroom, 2- bath, 1,296 square foot circa 1990 home went under contract on Friday with a list price of $395,000. According to county records, the 75′ by 100′, 0.17-acre, X-zone lot on which it sits sold for $138,600 way back in 1986. Wow. The Boardwalk subdivision has a lovely community pool overlooking the gulf.
We’ll leave the Cape for the first time today turning left off of Cape San Blas Road to travel to this half-acre, 100′ by 220′ lot overlooking St. Joe Bay listed for $99,000, a far cry from the $27,000 it went for as recently as March 2015. There are no HOA fees associated with this property, and it is a FEMA flood insurance eligible area.
We’ll wrap things up today on Neptune Drive over on Indian Pass where buyers were happy to have their offer accepted on this 106′ by 146′, 0.33-acre lot listed for $93,900. I didn’t find any sales history on the property appraiser’s site for the property. Neptune is located in Indian Pass Beach Subdivision, a little community platted and recorded in the early 1950’s. All of the lots here have deeded gulf and lagoon access and are grandfathered for FEMA flood insurance eligibility.
While the building boom in our area hasn’t let up in the past year I’ve keeping an eye on our seemingly slow down in sales activity the past few weeks, but it appears we are back on track again. Competition for quality properties remains strong so whether you’re buying or selling it’s still time to get in the game. I’ll be glad to help you, so please feel free to call or text me at 850-227-5197 or drop me a line at [email protected]. I hope to hear from you soon, and as always, appreciate so much your taking time out of your busy schedule to stop by today.