With Labor Day in our rear view mirror, summer may be officially over but luckily buyers didn’t seem to get that memo as they were still here snapping up great real estate deals. We had a good week, with five closings and four new contracts; added eleven new listings and made six price changes. With all that, we trimmed our inventory a bit, closing down seven from last week, ending at 290, with 86 houses and 204 lots listed for sale in the MLS for the Cape San Blas, Indian Pass and C-30 Corridor market.
We begin our review of this week’s five sales on the north side of the Cape in Barrier Dunes, home to this 3-bedroom, 3-bath, 1,377 square foot interior townhome on Parkside Circle listed July 11. It went under contract 4 days later with a list price of $249,900. The sellers bought it in late 2016 for $189,900 and sold it last Friday for $248,500.
Our second sale is about two miles further south, across the street from Rish Park. Here a bay view lot on Hibiscus Lane that has been under contract for about a month with a list price of $80,000 sold for $76,000. This belongs to the family of the developer of Hibiscus Bay to Beach, so no sales history to report. This quiet subdivision of mostly owner-occupied homes spans from the bay to the gulf, and all properties convey with access to both. There is a community pool, walkover to the beach, and dock out over the bay. Annual HOA fees are currently $2,400, and there is a $1,000 new owner fee collected at closing.
Two Palms is a very pretty subdivision on the south side of the Cape, adjacent to the west side of Salinas Park, and it’s home to our third sale, a 53′ wide by 519′ deep gulf front lot listed for $297,500. The owners bought the 0.84-acre lot in late 2013 for $210,000, and sold it on Wednesday for $293,500. Not a bad return on investment in just five years.
We’ll leave the Cape for our last two sales, starting with 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 and sold it last Friday for $780,000.
At the far eastern end of Indian Pass, our fifth and final sale is a roughly one-acre lagoon front lot listed for $139,900, a nice decimal shift from the $38,500 the sellers bought it for back in 1995. On Wednesday they sold it for just shy of full list, letting it go for $139,000, providing the buyers with seller financing. It is located just before you get to the boat ramp at the tip of the peninsula.
We’ll return to the Cape to take a look at this week’s four new contracts, starting in a new development a few blocks south of Cape Palms Park, The Preserve, where buyers had their offer accepted on this newly built 4-bedroom, 3-1/2-bath, 2,500 square foot gulf view home located on a second tier lot. Construction was finished this year, and the contractor-owner is asking $749,000 for it.
Nearby on the other side of the street, a seller accepted an offer on his 4-acre bay front parcel with 213′ of bay frontage and about 800′ deep. He bought it just last December for $500,000, and has it listed for $553,850.
We’ll head back over to Indian Pass for our final two contracts, the first of which is a 91′ by roughly 800′ deep, 1.8-acre gulf front lot that went under contract as soon as it was listed this week sporting a $485,000 price tag. The sellers have owned it since 2000 when they bought it for $240,000.
Our last contract is on a gulf front home out towards the tip of Indian Pass. It’s a 3-bedroom, 3-bath, 1,971 square foot home on 50′ of gulf front with an absolutely gorgeous view of St. Vincent Island. The sellers bought it in late 2002 for $569,000, and have it listed for $619,000.
That’s a wrap for this week. Lots going on – if you’re interested in finding a great value of your own, call or text me at 850-227-5197 or contact me at [email protected] and we’ll get started. I hope to hear from you soon, and really appreciate your taking time to stop by today.