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Cape San Blas Real Estate Week in Review - April 23 - April 29, 2022

Published on April 29, 2022 by Chris Petrie under Uncategorized

And here we are in the last week of April, as this spring season continues to fly by – summer will be here before we know it. It’s been a breezy spring, more so than usual, with not near enough calm days on the water for our local and visiting fishermen and fisherwomen. Meanwhile properties continue to move like sand on the beach this spring – below is a review of the nine recorded sales from this past week from Cape San Blas, Indian Pass and the CR/SR 30-A Corridor:

  • 811 Secluded Dunes Drive – Starting on the north Cape in the Secluded Dunes neighborhood next to the state park, here’s a 3 bedroom, 2 bathroom beachfront home built in 2001 with 2968 square feet of living space. This well-appointed, recently improved home was sold fully furnished for $2,400,000 (RDH loan) after being on the market for 42 days with a pricetag of $2,900,000. The seller purchased this beachfront home in 2016 for $646,900 before making significant improvements.
  • 652 Seacliffs Drive – Also on the north Cape in the Seacliffs condominium association, this Gulf front unit 5 in building A has 3 bedrooms, 2.5 bathrooms and 1647 square feet of living space. The building was constructed in 1986, and the association features deeded beach boardwalk access, a community pool, and nice green space/common ground. This beachfront unit only lasted 1 day on the market asking $769,900, and ended up selling for $749,900 with conventional financing. The sellers owned this condo for less than 2 years, as they purchased in late 2020 for $418,000.
  • 161 Parkside Circle – Next to Seacliffs are the Barrier Dunes condos on the north Cape near the state park, which feature a nice community pool and clubhouse, tennis courts, fishing ponds and nice common grounds. This fully furnished 2003-built, 2 bedroom, 2 bathroom, 1377 square foot unit just sold for the full asking price of $425,000 with conventional financing after only 2 days on the market. The sellers have owned this pond-front condo since 2011 when they purchased for $125,000.
  • 359 Rhonda Del Sol Circle – Another sale was recorded this week in the Villa Del Sol neighborhood on the south Cape, which features all the new construction Truland Homes. This bay view, unfurnished home has 3 bedrooms, 3.5 bathrooms, 1792 square feet living space, and access to the neighborhood beach and bay accesses and community pool and clubhouse to be completed soon. This home came on the market in early December, went under contract in 2 days, and just sold for the full asking price of $653,900 with assumed financing. This new construction home was just completed on one of the many vacant lots Truland Homes purchased in bulk in 2021.
  • Lot 72 Regatta Drive – Seems like we can’t do a weekly update without a sale in Ovation, as this bay and Gulf view, 0.17 acre lot just sold for the full asking price $149,900 cash after 121 days on the market. Ovation features all the nice, high end amenities on the bay and Gulf side of the north Cape, and this vacant lot was last sold in 2016 for $38,000.
  • Lot 9 Cape San Blas Road – Here’s a rare commercial vacant lot which just sold on the north Cape, measuring 0.71 acres, located adjacent to LongBill’s Restaurant in the Peninsula Estates neighborhood. This lot was on the market for 149 days asking $349,900 before selling for $300,000 cash, not bad for the sellers who paid $128,000 in 2002.
  • Lot 4 Sandbar Drive – Just before the Cape turnoff on SR 30-A is the Treasure Bay neighborhood, and this vacant, bay view lot on Sandbar Drive just sold for the full asking price of $119,000 cash after 69 days on the market. The half-acre lot is first tier to the bay (one behind bay front) with deeded bay access, and the sellers originally purchased this property for $25,000 in 2012.
  • Lot 6 McCosh Mill Rd – Here’s a smaller, Gulf view lot in the Piney Woods subdivision on the south Cape which measures 55′ x 70′. This property features deeded beach access and use of the community pool, and was on the market for only 6 days asking $115,000 before selling for $116,000 cash. The sellers had purchased this vacant lot in 2018 for $59,000.
  • 0 Reservation Way – Moving on to Indian Pass, this is a Gulf view, 2nd tier (2 behind Gulf front) lot in The Reservation subdivision, which features a small community pool (currently not operational due to lack of residency) and beach boardwalk. This 50′ wide, 0.27 acre lot recently hit the market asking $179,000, and in 7 days the sellers got a contract and sold for $175,000 cash. The sellers purchased this property in 2013 for $35,000.

In the past seven days, we can report seven new vacant land contracts to go along with three new residential contracts agreed upon between buyers and sellers in our comparative market. One previously executed contract was cancelled by the buyers this week, and there were also three price changes to existing listings already on the market, all three adjustments for vacant lots. Lastly, there was one expired residential listing this week, which had been on the active market for just over one year.

Quite a few more new listings showing up on our MLS this week, as sellers contributed eleven new residential listings (2 already under contract) and ten new vacant land listing (1 already under contract) to our active inventory. This brings our total active listing count up to twenty-four residential properties on the market, and seventy-five vacant land listings for sale on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor.

I appreciate you all checking in and reading the weekly Cape San Blas Real Estate Blog. The annual Bayou Bash Inshore Fishing Tournament is scheduled for next weekend, May 6th and 7th at Salinas Park on the south Cape, so plan accordingly if you’d like to participate. This is always a great time for both adults and kids with lots of prizes and raffles, all for a good cause. Let me know anytime I can be of service for your real estate needs, [email protected] or (850)899-8765. Have a good one!

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