It’s hard to believe that April and the showers are just about over, but here comes May with flowers after the weekend. This last week of April was just about as busy as the previous week with more encouraging activity to report. Below is a review of the 5 recorded sales from all of Cape San Blas, Indian Pass, and the CR/SR 30-A corridor within the past 7 days:
- 139 Tortuga Trail – Here’s the first of 3 new construction spec homes which just sold in the Cape View Estates 8 lot subdivision on the south Cape. This unfurnished, 5 bedroom, 3 bathroom home with 1,996 sq ft living space has a Gulf view, deeded beach access, and sits on a 55′ wide, 0.1 acre lot. This listing was on the market for 74 days asking $729,000 before going under contract and selling for a higher-than-asking $744,000 with conventional financing. This property was one of 6 vacant interior lots an investor/builder purchased from the original subdivision developer in 2021 for $450,000.
- 151 Tortuga Trail – The second new construction spec home sale in Cape View Estates is another 5 bedroom, 3 bathroom, 1,996 sq ft structure sitting on a similar 55′ wide, 0.1 acre Gulf view lot with deeded beach access. This one was on the market for 11 days asking $739,000 before selling for the full asking price cash. Same previous sale history as above, this was one of 6 lots purchased together for $450,000 in 2021.
- 125 Tortuga Trail – This is the third recorded sale in Cape View Estates on the south Cape this week, another new construction, unfurnished home with matching specs as the previous two listed above. This one also sits on a comparable Gulf view lot, it came on the market already under contract, and it just sold for the full asking price of $725,000 with conventional financing. Once again, same sales history as the previous two property sales listed above.
- Lot 12 Seagrass Circle – On to the vacant lots, here’s a bay and Gulf view lot in the Seagrass subdivision on the north Cape which just changed hands. This lot measures 90′ wide and 0.25 acres, with an X zone designation due to higher elevation in the Seagrass gated community which offers deeded beach access and a community pool. The property was on the market for 12 days asking $224,900 before selling for $219,000 cash, which is a nice jump from the $52,000 the seller paid for the lot back in 2012.
- Lot 30 Polaris Drive – This lot is located on the south Cape in the Surfside Estates Phase II neighborhood with deeded beach access a short walk down the road. The property measures 90′ wide, 0.25 acres, and also lies entirely in the X flood zone due to higher elevation. This interior lot already has a septic system installed with utilities run to the property to service a 3 bedroom home. It only lasted 6 days on the market asking $118,500 before going under contract and selling for $115,000 cash, another gain for the sellers who paid $45,000 in 2010.
There were 9 new contracts in the past 7 days in our comparative market. 6 were freshly negotiated vacant land contracts, (4 of which were neighboring lots with the same seller and buyer), and 3 were new residential contracts. One residential listing was withdrawn from the active market this week, and we saw 7 more price reductions, one of which resulted in a new contract. There were 2 more cancelled contracts this week, but one vacant bayfront lot immediately went back under contract with a different buyer.
New listings almost kept up with all the new contracts this week, as there were 3 new residential listings and 4 new vacant lots added to our inventory. Our vacant land inventory remains unchanged at 93 lots available, and our residential inventory is down 2 to 53 listings for sale on all of Cape San Blas, Indian Pass and the CR/SR 30-A corridor. That’s all for this week, thanks again for reading the Cape San Blas Real Estate blog and have a nice rest of the weekend. Let me know anytime I can help, (850)899-8765 or [email protected].
This photo comes from one of our new residential listings this week on the north Cape