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Cape San Blas Real Estate Week in Review - May 26-June 1, 2018

Published on June 1, 2018 by Sherri Dodsworth under Cape San Blas

For Sale Sold SignWe had a wet and soggy, windy Memorial Day Weekend as Alberto passed through our area, but sunny skies returned by Tuesday and our real estate market continued to shine on, closing five sales and adding three new contracts. Sellers added three new listings,  and changed prices on five others.  We trimmed six from the inventory, closing the week at 295, with 88 homes and 207 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS.

Newly Built Cape San Blas Gulf View Home Sold May 2018 for $540,000

Only one of this week’s five sales is on the Cape; it’s a newly-built 3-bedroom, 2-bath, 1,503 square foot home on Flamingo Drive in Findlay Shores, a small subdivision just south of Coneheads restaurant. In this transaction, the buyer’s agent contacted the builder during construction, negotiated terms for a sale, and they closed last Friday for $540,000. This was not a property listed for sale in the MLS and was entered after closing as a sale for comp purposes. The builder bought the 92′ by 105′, quarter-acre lot last October for $125,000.

C-30 Home Under Contract April 2018 with List Price of $449,000

We’ll leave the Cape and head east along C-30 to Water’s Edge, the first subdivision you come to on your left side of the road. Water’s Edges has a community pool, tennis courts, and deeded gulf access. In late April, buyers penned an accepted offer on this 3-bedroom, 3 1/2-bath, 3,173 square-foot home listed for $449,000. It’s situated on a quarter acre lot and was built in 2005. The seller has been trying off and on to sell it since initially listing it back in 2005 with an asking price of $1,045,000, touting its travertine tile, marble showers, teak flooring, cherry cabinetry, granite counters, and 8′ interior doors. On Friday they handed the keys over to the new owners at closing for $430,000.

Money Bayou First Tier Home Sold June 2018 for $330,000

Further east along C-30 buyers took ownership to this 2-bedroom, 2-1/2-bath, 748 square foot first tier home in Money Bayou for $330,000. The sellers bought the little Key West style home in early 2014 for $265,000, and had it listed for $338,000.

Indian Pass 2nd Tier Lot Under Contract April 2018 with List Price of $49,900

Our final two sales are over on Indian Pass, starting with this newly-platted 2nd tier lot listed for $49,900. The seller bought the parent gulf front tract in February of this year for $520,000 and is in the process of doing a minor replat to produce this new lot. He sold off this portion this week for full asking price of $49,900.

Our fifth and final sale is on Neptune Street in Indian Pass Beach subdivision where this 3-bedroom, 2-bath, 1,290 square-foot classic beach cottage was under contract with a list price of $399,900. The sellers bought it in 2005 for $475,000 and sold it on Thursday for $375,000. This entire neighborhood is grandfathered for FEMA flood insurance eligibility, and all lots convey with deeded gulf access.

Gulf Front Lot on Cape San Blas Under Contract May 2018 with List Price of $549,000

The first of our three new contracts is on a 51′  by 460′, 0.56-acre gulf front lot in Monarch Beach, a recently platted new development on the Cape just a bit south of Cape Palms Park. The developer is asking $549,000 for this lot, or $10,764 per waterfront foot.

Cape San Blas Lot in Jubilation Under Contract May 2018 with List Price of $57,000

Back down on the south side of the Cape in Jubilation, buyers penned an offer on this 50′ by 80′, 0.09 acre interior lot listed for $57,000. The seller bought it in mid-2004 for $260,000.

Cape San Blas Gulf View Home Under Contract May 2018 with List Price of $550,000

Our final new contract is on Boardwalk Avenue in nearby Boardwalk subdivision where this 4-bedroom, 2-1/2-bath, 2,700 square foot gulf view home went under contract last Saturday with a list price of $550,000. The seller bought the lot in 1997 for $34,000 and built the home four years later in 2001.

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 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.


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