And the hits just keep on coming. We had another scorching hot real estate week, closing three sales, putting eight properties under contract, adding six new listings, and changing prices on twelve others, five of which were price increases. Our inventory remains unchanged for the third week in a row at 266, with 81 homes and 185 lots listed in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market. Once again, we have a lot of territory to cover, so let’s get right to it.
The first of our three sales is a gulf view quarter-acre “X” zone lot on Tampico Lane overlooking Cape Shoals that went under contract in late May with a list price of $79,000. From what I can glean from public records the seller’s family is the developer of this community and so has owned it for quite some time. On Wednesday it closed for $75,000.
Our second sale is a charming classic southern beach-home in beautiful Jubilation on the south side of the Cape. Beautifully furnished and sold turn-key ready, this 3-bedroom, 3-bath, 2,072 square foot gulf view home built in 2011 went under contract in June sporting a $529,000 price tag. There are impressive views of the gulf from the screened porches, and the gorgeous gulf front community pool is only a short stroll away. My happy buyers picked up the keys at closing on Thursday for $524,000 and I know they are going to build a lot of lifetime memories in this lovely home.
Our third and final sale takes us over to Indian Pass to the Reservation. Three weeks ago buyers penned a deal on this 52′ by 170′, quarter-acre second tier lot listed for an attractive $29,900. The sellers paid $33,500 for it in mid-2012, and sold it on Monday for $27,000.
We begin our review of this week’s eight new contracts where we so often do, up in Barrier Dunes where this 2-bedroom, 2-bath, 1,197 square-foot first tier townhouse on Sabal Drive went under contract on Monday with a list price of $239,500. The owners bought it in 1999 for $125,000.
About a mile down the road in Ovation, buyers penned a deal on a second-tier lot listed for $115,000. This 107′ by 50′ “X” zone lot originally sold in the summer of 2005 for $500,000. The current owners bought it two years ago for $95,000.
Our third sale is a circa-1986 2-bedroom, 2 1/2-bath, 1,120 square-foot unit in Cape Shoals, a complex adjacent to the north side of Cape Palms Park. The sellers bought it in January of this year for $205,000 and put it under contract this week with a list price of $229,000.
Not far away on Haven Road, contract number four is on a beautiful gulf front home. Situated on 55′ of beautifully vegetated gulf front, this 5-bedroom, 4 1/2-bath, 2,735 square foot beauty built in 2002 went under contract on Thursday with a list price of $834,000.
Next up is a 1,600 square foot, 3-bedroom, 2 1/2-bath Sunrise Sunset townhome near the rocks at Stumphole which was listed on July 10 for $389,000 and put under contract 5 days later. The Sellers bought the place in 2008 for $305,000.
Our next two contracts on the south side of the Cape are related. One is on an office building, the other on the adjacent lot. The properties belong to a company who is simply transferring ownership of the real estate from the company’s founding owners to the operational owners who have owned and managed the business for the past year or so. The office with 2.3 acre parcel is under contract with a list price of $295,000, and the adjacent half-acre lot is under contract with a list price of $35,000.
We’re back over at Indian Pass for our final new contract, a charming little cottage on South Palm Street. This 1-bedroom, 1-bath, 1,092 square foot cutie was built in 1980. It’s located just a short stroll to the beach, Is FEMA flood insurance eligible, and is under contract with a list price of $162,900. She has a lot of potential.
That’ll do it for this week. Glad to have so much activity going on as people are snapping up these great deals on premium properties. If you’re looking for terrific values, there’s no time like the present to start searching, and I’ll be glad to help you with that. Simply call or text me at 850-227-5197 or use good old reliable email to [email protected]. Get in on the sales action here at the Cape where the only thing hotter than the weather is our real estate market. Have a terrific week, keep cool, and hope to see you back again next week. Thanks for stopping by today. Take care.