It’s been a fun week around the Forgotten Coast with the annual influx of Plein Air artists out and about capturing our beautiful area on their canvases. Buyers captured some real estate for their portfolios as well, closing seven sales, and writing up six new contracts. Sellers added a whopping fifteen new listings and changed prices on ten others. With all that activity, our inventory jumped up by seven, closing the week at 288, with 87 homes and 201 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market. We have a lot of territory to cover so let’s get started.
To kick off our review of this week’s seven sales, we’ll head up to the north end of the Cape, stopping on Bent Tree Road in Bluffs at Secluded Dunes. At the end of March, sellers accepted an offer on their irregularly shaped, 0.44-acre, 4th tier gulf view lot listed for $99,000 they purchased in early 2004 for $204,900. On Tuesday the new owners took title for $91,500 using conventional financing.
About two miles down the beach, our second sale is a second-tier lot in a newly platted subdivision called Christo Beach, located on the north side of Avalon. Buyers penned an offer in March on a quarter-acre, gulf view “X” zone lot listed for $139,000, and sealed the deal on Wednesday for $137,500.
A block north of The Tradin’ Post and everybody’s favorite, Weber’s Little Donut Shop, this next sale is a 154′ by 102′, third of an acre, second tier gulf view lot listed for $150,000. The sellers bought it in early 1995 for $30,900, and sold it on Tuesday for $130,000. Nice.
Our fourth sale is this handsome commercial vacation rental on Cancun Drive listed for $534,000. It has a combined total of 2,208 square feet, 7 bedrooms and 5 baths, with 4 bedrooms on one side, three on the other, each side with their own entrance, and was completed in February of 2017. It’s located on a third of an acre “X” zone lot the sellers purchased in late 2014 for $64,200. The happy new owners picked up the keys for $506,900.
Our last three sales are over on Indian Pass, starting with this first property in Indian Summer located just off the first big turn shortly after you drive onto Indian Pass Road. Less than three weeks ago, buyers had their offer accepted on this 68′ by 170′, quarter-acre, first tier lot listed for $94,000 the seller bought in late 2014 for $62,500. On Thursday they went to closing with $91,500 cash.
Sale number six is a roughly quarter-acre first tier lot just past the big curve on Indian Pass Road listed for $119,000. County records seem to indicate they bought it in December 2004 for $365,000; on Tuesday they sold it for $100,000.
Our seventh and final sale is over at the point of the Indian Pass Peninsula where in late March sellers accepted an offer on their 4-bedroom, 4 1/2-bath, 2,839 square foot gulf front home overlooking St. Vincent Island. They bought the lot with 45′ of waterfront in late 2012 for $100,000, and built the house three years later. Back in late 2004 the lot alone sold for $670,000. On Monday the home sold well above list price for $925,000, with the Buyers receiving a $26,000 credit at closing to cover part of their closing expenses.
Now on to our six new contracts, returning to the north end of the Cape stopping in at Barrier Dunes where buyers had their offer accepted on this 2-bedroom, 2-bath, 1,377 square foot circa-2005 townhome listed for $239,900. The sellers picked it up in early 2015 for $184,000 and have done a lot of upgrades since then such as new roof, new a/c’s, and fresh paint.
More action at Christo Beach with buyers having their offer accepted on a quarter acre total first tier lot, but since it is a flag lot, meaning that total acreage includes a long narrow access strip, so the remaining actual building area measures 49′ by 168′, or roughly 0.19 acre. The sellers have it under contract with a list price of $249,000.
Next up is a premiere Gulf Front X Flood Zone lot in Sunset Beach Estates, home to the widest gulf front lots in any subdivision on the North Cape currently available for sale. 63′ gulf front footage gives you almost a 20% wider footprint than other gulf front subdivision lots, affording you greater flexibility in your custom house plans with plenty of room for a pool. The southernmost lot went under contract on Tuesday with a list price of $649,000. Selection is limited, so let me know soon if you’d like to claim a similar setting in this coastal paradise to call your own.
Down on the south side of the Cape in the Club at Cape San Blas we have one of a small handful of condos in our area, this one a tasteful and attractive complex on the gulf. This particular unit features gorgeous knotty pine floors in main living area, oak cabinets, granite countertops, stainless steel appliances, private balcony off of master bedroom and plenty of closets. This truly lovely 3-bedroom, 2-bath, 1,404 square foot, second floor end unit went under contract on Thursday less than a month after it was listed with a list price of $439,900.
Just a few blocks east on Cape San Blas Road our fifth contract is a136′ by 170′, half-acre lot on the bay side of the road listed for $69,900. It’s zoned mixed use, residential and/or commercial, and includes deeded gulf and bay access. Water and sewer taps have been paid and are in place. Interestingly, the seller just bought it back in January of this year for $65,000.
We’ll wrap things up today over on C-30 out past the Raw Bar where this roughly 0.8 acre lagoon front lot, also zoned mixed use, went under contract on Thursday with an asking price of $69,000. The savvy sellers bought it way back in 1987 for a mere $5,000.
That does it for this week. If you’re interested in finding out about coastal opportunities or if you’re considering selling, let me know and I’ll be glad to help you either way. Call or text me at 850-227-5197 or send me an email to [email protected] and we’ll get started. Have a terrific week, and thanks so much for taking time out of your schedule to stop by today.