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Cape San Blas Real Estate Week in Review - August 11-17, 2018

Published on August 17, 2018 by Sherri Dodsworth under Cape San Blas

For Sale Sold SignWe had a rainy week but all that liquid sunshine didn’t dampen buyers’ appetites for snapping up great real estate offerings. We closed eight sales and seven listings went under contract.  Sellers added five new listings, and changed prices on nine others. With all that activity, we managed to trim our inventory by five, closing out 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 market.

Cape San Blas Gulf Front Hose at Secluded Dunes Sold August 2018 for $1.7M

We’re all the way up in Secluded Dunes, the northernmost subdivision on the Cape, for the first of our eight sales.  This was not an MLS listing but apparently a direct negotiation between a buyer’s agent and an owner . The parties came to an agreement on this 5-bedroom, 5 1/2-bath, 2,992 square foot house situated on 108′ of gorgeous gulf front.  F&B Builders built it in 2015, and in 2017 the seller reports it generated $150,000 in gross rental income. This sale was entered into the MLS this week even though the agent who entered the data says it closed back on the 9th for $1.7M.

Cape San Blas Gulf Front Condo Under Contract June 2018 with List Price of $399,900

In nearby Seacliffs, this 3-bedroom, 2-1/2-bath, 1,647 square foot gulf front condo was listed at the beginning of March for $429,900, but the sellers decided to lower that price May 31 to $399,900, and put it under contract on July 31st.  They bought the early 1980’s unit in 2001 for $289,900, used it as a private residence up until a couple years ago, and sold it last Friday for $380,000.

Gulf Front Townhouse at Barrier Dunes Under Contract July 2018 with List Price of $585,000

Next door to Seacliffs is Barrier Dunes where this 3-bedroom, 3 1/2-bath, 1,865 square foot gulf front townhouse was snapped up just three days after it hit the MLS the first week of July.  The sellers paid $455,000 for it in 2004 and made improvements over the years, including a totally remodeled kitchen with new cabinets and granite countertops.  They were asking $585,000 and sold it on Wednesday for $555,000 cash.

Ovation water view Lot Sold August 2018 for $39,900

About a mile down the beach from Barrier Dunes is Ovation, home to our fourth sale, an interior lot with views of both the bay and gulf when an elevated home is placed on it. The sellers bought it in a distressed sale in 2013 for $20,000, a far cry from the $235,000 it went for in 2005. On Friday, they got their full list price of $39,900.

Cape San Blas Bay Front Lot with Dock Sold August 2018 for $180,000

We’ll travel south a couple miles to several hundred feet past Scallop Cove where the parties went to closing on this 100′ wide, 1.4-acre bayfront lot complete with dock listed for $212,500. The seller bought it in 2004 for $440,000 and sold it on Friday for $180,000.

Cape San Blas Bay Front House Sold August 2018 for $423,000

More bay front action, this time down on the south side of the Cape, about a mile after you turn onto the Cape from C-30. This 3-bedroom, 2-bath, 1,338 square foot circa-1985 home sits on an acre lot with 122′ of bay frontage. It was listed for $449,000 and sold for $423,000.

Money Bayou Gulf Front Home Under Contract June 2018 with List Price of $949,000

For our final two sales, we’ll leave the Cape time heading east along C-30 over to Money Bayou stopping first on Sweetwater Shores Drive where the parties closed on this 4-bedroom, 3-bath, 2,200 square foot home listed for $949,000. Construction on this home was completed just this year. It sits on a 50′ wide gulf front lot and features two master bedrooms overlooking the gulf.  The buyers brought cash to the table and picked up the keys on Monday for $880,000.

Gulf Front Lot Under Contract July 2018 with List Price of $279,000

We’re back out on C-30 heading over to Sweetwater Shores in Money Bayou to this 63′ by 490′, .71-acre gulf front lot listed for $279,000. It hit the MLS in mid-July on a Monday and was under contract by that Friday. The seller bought it in 2004 for $750,000, and sold it on Thursday for $270,000. Ouch.

Sunset Pointe Interior Lot Under Contract August 2018 with List Price of $69,900

Moving on to our seven new contracts, we’ll head back up to the north side of the Cape, stopping this time in Sunset Pointe where this 0.27-acre interior lot went under contract on Monday with a list price of $69,900, a far cry from the $450,000 it last sold for in early 2005.

Ovation Water View Lot Under Contract August 2018 with List Price of $49,500

Back to Ovation for contract number two, another lot on Pinnacle, thisone listed for $49,500. The sellers bought the irregularly-shaped, 0.6-acre property two summers ago for $57,500. In 2005, the developer sold it for $355,000.

Cape San Blas Third Tier Home Under Contract August 2018 with List Price of $499,900

Several streets north of The Trading Post is Catamaran Drive, home to this 3-bedroom, 3 1/2-bath, 1,885 square foot home listed for $499,900. It was built in 2002 om a quarter-acre third-tier lot “X” zone.  There is no HOA or HOA fees and there is easy access to the beach at the end of the street. The sellers are asking $499,900, essentially what they paid for it in late 2006, $500,000.

Gulf Front Lots Under Contract August 2018 with List Prices of $169,000 Each

Our next three contracts are on three 50′ wide gulf front lots listed for $169,000 each. They’re located just a bit north of the rocks at Stumphole in an area of historically high erosion.

Waters Edge Interior Lot Under Contract August 2018 with List Price of $39,000

Our seventh and final new contract is on an interior lot over in WAters Edge, the first subdivision on your left when you leave the Cape heading in the direction of Indian Pass. Thie 70′ by 248′, 0.40-acre lot is listed for $139,000. The seller bought three lots from the developer in 2002 for $189,000 of which this is one.

And that’s a wrap. There’s plenty going on, with strong buyer demand. If you’re thinking of buying or selling, we need to talk. Call or text me at 850-227-5197 or write me at [email protected] and we’ll get started.  Keep cool, have a great week, and thanks so much for taking a few minutes to stop by today.




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