We had another quiet week, closing only two sales and adding but two new contracts. Sellers added five new listings and made one price change. Not surprisingly, our inventory remains unchanged closing once again at 260, with 82 homes ad 178 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.
The first of our two sales is on the north side of the Cape in Peninsula Estates, where we have a 78′ by 193′, one-third acre first tier lot that went under contract in early September with a list price of $149,900. The owner bought this “X” zone lot from a bank in mid-2012 for a mere $103,000, and sold it on Wednesday for $140,000, a nice return on investment in less than two years.
About two miles to the south on the Cape our other sale is on Summerhouse Lane in San Dunes. Buyers penned a contract two weeks ago on this quarter-acre, “X” zone lot listed for $119,900. This isn’t listed as a short sale, even though the owners paid $590,000 for it in 2005. The year before that, it sold for $335,000, a far cry from the $114,900 it sold for this week,
We return to the north side of the Cape for the first of our two new contracts, this time stopping by Barrier Dunes where we have a bank-owned 37′ by41′ interior lot on Lakeshore Drive under contract with a list price of $37,900. Though known primarily for its popular townhomes, Barrier Dunes also has a section set aside for single family dwellings.
We’ll wrap things up today in Turtle Dunes, a little beach front community just north of Scallop Cove. This is a 60′ wide gulf front lot listed for $275,000, and appears to be a bank-owned property though it isn’t identified as such in the MLS. According to county records, the seller acquired it from the developer through foreclosure.
And that does it. I guess folks have a little Fall Fever and taking a break from real estate shopping to be out and about enjoying this gorgeous weather. If you’re in the area this weekend, be sure to check out the annual Songwriters’ Festival Blas on the Bay, with Nashville songwriters offering up free concerts all over the Cape, Indian Pass, Port St. Joe and Mexico Beach. It’s three full days of great music, great food, and a whole lot of fun. Sweet! Wherever you are, have a great week, and I hope to see you back here soon. If you have any real estate questions, call or text me at 850-227-5197 or drop a note to [email protected].