Our real estate market continues to sparkle as brightly as our beautiful sun-kissed beaches, with four sales and four new contracts. Sellers added eight new listings and changed prices on seven others. Our inventory crept up by two, closing the week at 293, with 86 houses and 207 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market. Let’s see what’s moving.
We’ll start our review of this week’s four sales just south of Rish Park in Paradise Gulf where this 83′ by 190′, .36-acre first tier lot listed for $197,000 went under contract in mid-May. The sellers purchased the X-zone lot in March 2015 for $156,000, and sold it last week for $188,000.
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 a 26% 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 the first week of May with a list price of $649,000, and closed on Friday for $630,000 with the buyer paying cash. There are only four others left, so let me know soon if you’d like to claim a similar setting in this coastal paradise to call your own.
Lots of action on McCosh Mill Road in Piney Woods subdivision where we had two closings this week, starting off with this handsome 3-bedroom, 3-bath, 2,001 square foot gulf view home listed for $500,000. The sellers bought the X-zone lot in 2016 for $65,000 and built the home the following year. They handed over the keys to the new owners last Friday for $462,000. Piney Woods owners enjoy an attractive community pool and deeded gulf access via a wooden walk-over to the beach.
Our fourth and final sale is a 72′ by 55′, .09 AC lot just across from the previous home listed for $69,900. The sales history on this one is a bit unclear looking at county records. On Friday it sold for $59,000. If you like the looks of this little neighborhood, I have a first tier lot listed for $129,000.
Now on to our four new contracts returning to the north end of the Cape, this time all the way up to Sunset Pointe by the State Park where this 80′ by 150′, quarter-acre lot went under contract on Friday with a list price of $59,900. The seller bought it at the end of 2012 for $30,000. Prior to that it had sold in early 2004 for $230,000.
We’re back down on the south side of the Cape for our second contract, heading to Mariner Lane in Southbeach, a gated gulf front subdivision which provides both gulf and bay access to its owners. Buyers penned an offer on a 100′ by 120′, 0.28-acre, X-zone lot listed for $84,900, for which the sellers paid $67,000 all the way back in 2001.
Seems we’ve moved a fair number of large tracts on the Cape in the past year, and our third new contract continues that trend. Villa del Sol, a 21-acre subdivision on the south side of the Cape, is a remnant of the real estate boom of the early 2000’s. The developers back then installed brick paver roads, all of the infrastructure such as water, sewer, underground electric and cable, and even pre-paid for sewer taps for all of the 48 lots. The market crashed, and they lost it. The current owners purchased the common areas and the 43 un-sold lots in early 2013 for $1,837,500 as a distressed sale. They put it back on the market in January last year with a list price of $4,399,900, and recently reduced that to $3.6M. That listing expired three weeks ago, but was reactivated in the MLS on Thursday with the status immediately changing to contingent.
We’ll leave the Cape for the first time today for our fourth and final contract which is on this attractive 5-bedroom, 3-bath, 2,128 square foot gulf front home in Treasure Shores listed for $839,000. It is situated on a 75′ wide, 0.63-acre lot and is eligible for FEMA flood insurance. The sellers purchased the home in early 2008 for $860,000.
That does it for this week. We’re moving a lot of value-priced properties, so as we like to say along the beach, “the water’s fine – jump on in”! If you’d like to test the waters for some great deals, call or text me at 850-227-5197 or email me at [email protected] and we’ll get to work. Until then, have a great week, don’t forget that sun screen, and thanks for taking time to stop by today.