It’s the last week of July, and the real estate market is finishing the month on a high note with a significant increase in new contracts. Let’s dive right in this week’s update with a review of the 5 recorded sales in the past 7 days from Cape San Blas, Indian Pass and the CR/SR 30-A corridor.
- 775 Secluded Dunes Drive – Starting on the north Cape, this 1 year old, custom built, high-end beachfront home in the Secluded Dunes neighborhood just changed hands. The 4 bedroom, 4 bathroom, 2332 sq ft house sits on a half acre, 75′ wide Gulf front lot and was sold fully furnished with an elevator and top of the line finishes and appointments throughout. The property was on the market for 19 days asking $3,350,000 before selling for $3,000,000 cash, which is up from the $2,300,000 the sellers paid for the home just over 1 year ago.
- 245 Bay Hibiscus Drive – Still on the north Cape, here’s a 1983 bayfront home in the Hibiscus Bay subdivision which just sold this week. 3 bedrooms, 3.5 bathrooms and 1483 sq ft of living space, this unfurnished home has access to the community pool, beach boardwalk and neighborhood dock on the bay which is directly in front of this 110′ wide, 0.51 acre property. This bayfront home was on the market for 6 days asking $979,900 before going under contract and selling for $900,000 cash. The seller had purchased this property from the Hibiscus Bay developer in 2016 for $433,000.
- 128 Sweetwater Shores – This beachfront home is located in the Money Bayou neighborhood off the CR 30-A corridor, and was recently built 2 years ago on a 50′ wide lot. The custom home has 3 bedrooms, 2 bathrooms, 2351 sq ft of living space and was sold mostly unfurnished but included a hot tub. The property was on the market for 6 days asking $1,599,000 and sold for $1,550,000 with conventional financing. The sellers purchased the vacant Gulf front lot in 2016 for $236,000 before building the home in 2020.
- Lot 2A Catamaran Drive – We’re now on to vacant lots, this one measures 0.33 acres and 50′ wide in an X flood zone on the north Cape. This is a first tier lot (one behind Gulf front) which was on the market for 164 days asking $450,000 before selling for $438,000 cash. The sellers had owned this lot since 2011 when they purchased for $110,000.
- Lot 22 Sea Lavender Lane – Now we’re on to the Indian Pass peninsula where this Mystic Palms lagoon-front lot just changed hands. This 0.28 acre property sits on the SE side of Indian Lagoon and has access to the Gulf front pool and beach boardwalk in the gated community of Mystic Palms. This parcel was on the market for 15 days before selling for the full asking price of $180,000 cash. The former owners had purchased this lot in 2020 for $125,000.
For the past three weeks, our comparative market of Cape San Blas, Indian Pass and the CR/SR 30-A corridor has produced 4 newly executed contracts each week. Production has multiplied in the past 7 days as there were 15 new contracts agreed upon between buyers and sellers, 9 new residential contracts and 6 new vacant land contracts. We can also report 3 cancelled listings and 2 more expired listings, all 5 properties no longer on the active market. Another cancelled contract back on the market this week, along with 6 more price reductions from increasingly motivated sellers.
Of course we have some new offerings this week, as 1 new residential listing and 11 new vacant lot listings (1 already under contract) were added to our inventory. Currently there are a total of 56 residential properties on the active market through our MLS, and 96 vacant lots for sale on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor. That’s all for this week folks, thanks again for checking in, let me know anytime I can help, (850)899-8765 or [email protected]. See you in August!