The calendar may have said late February, but the weather said spring as we’ve had warm albeit damp weather, resulting in the return of oh so welcome glimpses of greenery to our landscape. Many of our scrub oaks, barren and brown since Michael, are showing signs of recovery with little green leaves re-emerging. Our market remains warm as well, with two sales and six new contracts. Sellers added twelve new listings and changed prices on four others. Our inventory shed six, closing the week at 227, with 58 homes and 169 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.
The first of this week’s two sales is on the bay side of the Cape directly across the street from Seagrass. Less than a month ago buyers jumped on this 100′ by 800′, 1.85-acre bay front lot the very day it was listed for $279,000. The family who owns this lot and the adjacent multi-acre parcel have owned both for quite some time so no sales data is available on the county appraiser’s site. On Tuesday the deal was done and the new owners took title for $250,000.
Down on the south side of the Cape, buyers were attracted to these two adjacent lots on Mercury Lane in Surfside Estates listed for $142,000. Together they measure 100′ x 230′, for a total of 0.54 of an acre. They sit first tier and offer excellent views of the Gulf as well as easy access to the beach. The seller bought the two lots in 1999 for $114,000 ($172,240 in today’s inflation-adjusted dollars), and sold them on Friday for $125,000.
Now on to our six new contracts starting with one of just a small handful of commercial buildings on the Cape. When I moved here in 1994, this place was a cheerful little eatery known as The Cape Café, and it was the only place to eat out on the entire peninsula. The café closed in 1998, the restaurant equipment is long gone, and the building has been sitting vacant since then, save for a brief period where a thrift store operated out of it. The current owners bought it in mid-2016 for $290,000, have done a little renovating since then, and have had it listed for some time at $399,000. Somebody stepped up to the plate last weekend and made an acceptable offer to the sellers.
Our second contract is on a 75′ by 112′, 0.19-acre fourth tier gulf view lot on the Cape peninsula in The Preserve at the Cape. The Preserve is located south of Rish Park and just north of Seagrass. This was a direct sale from the developer so no sales history on it. The developer put it on the market last July with a list price of $139,000, lowered it to $129,000 in August, and reduced once more two weeks ago to $119,000 which apparently was the sweet spot as it went under contract on Tuesday.
We’ll return to the south side of the Cape heading over to Plover Drive in San Blas Plantation where this 3-bedroom, 2-1/2-bath, 1,620 square foot home listed for $389,900. It was built on a half-acre lot in 2005. The sellers bought it in a bank-owned sale in 2010 for an unbelievable $153,000.
Let’s leave the Cape for the first time today and travel east along C-30 over to Gulf Pines to this lovely 5-bedroom, 4-1/2-bath, 2,678 square foot gulf front home situated on a 100′ wide stretch of beach. The sellers bought it in 1998 for $439,000, and have it listed for $1,269,500.
Further east along C-30 is Money Bayou, home to our fifth contract. This one might look a bit familiar as we saw it here on February 8 when it previously went under contract. That one didn’t work out and it re-entered the MLS four days later on February 12. This miniscule 35′ by 80′, 0.064-acre, second tier AE lot went back under contract on Wednesday with a list price of $89,000. This pleasant little old Florida neighborhood has no HOA or HOA fees.
Our sixth and final new contract takes us over to Indian Pass to this lovely 3-bedroom, 3-1/2-bath, 3,123 square foot home overlooking 235′ of frontage on Indian Pass Lagoon. The sellers bought the half-acre lot in 2002 for $225,000 and built the home a couple of years later.
That brings us up to date for this week. You can see how our inventory of homes is growing smaller and smaller as demand increases. If you have been considering selling, let me know and I will be glad to do a comparative market analysis (CMA) for you without cost or obligation to see what it will likely bring in our current market. You can always reach me by calling or texting 850-227-5197 or emailing [email protected] Hope to hear from you soon, and, as always, I thank you so very much for taking time out of your busy schedule to stop by today.
Reminder – if you would like to read this with the links to the various listings, I can only email them to you now with our new MLS which I’ll be glad to do. Just let me know by sending me a request to [email protected] and I’ll set you up to receive my blog post with the links each week.