Our Spring Breakers aren’t just partying on the beach, they’re buying it! We scored another banner week, closing just one sale but penning nine new contracts. Sellers added five new listings, and changed the prices on three others. Even with all those new contracts, our inventory only shaved off two, closing the week at 276 with 77 homes and 199 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market. Let’s see what those busy buying breakers have been up to.
Our one and only sale is in Cape Breezes, where this 3-bedroom, 3-bath, 1,642 square-foot gulf front home listed for $879,000 closed on Thursday for $819,000. This quiet community of homes is one of the earliest on the Cape, platted in the late 70’s, with recorded covenants but no HOA or HOA dues. All properties here convey with deeded access to both the Gulf and St. Joe Bay. This family bought the lot back in 1991 for $60,000, and built the home shortly thereafter.
The first of our bounty of nine new contracts is on the north end of the Cape on Hemmingway Lane in Sunset Pointe. The parties shook hands on terms for this 71′ x 148′, quarter-acre, corner lot listed for $59,900. Interesting sales history on this one; the sellers bought it in 2010 for $24,000. Back in 2004, the developer sold it for a whopping $530,000.
About 2 1/2 miles south is Seagrass, home to our second contract, which is a 90′ by 90, 0.20-acre interior lot listed for $141,500. All of the lots in this subdivision are in the X zone. The sellers bought the property in December 2015 as a bank-owned sale for $78,000. In early 2005, it sold for $445,000. What a difference a decade makes.
Next up is a 3-bedroom, 3 1/2-bath, 1,997 square foot gulf front home on Belize Drive that caught buyers’ attention. The sellers bought the circa-2005 home in the summer of 2015 for $520,000 and have done major renovations and upgrades since then, including adding a swim spa.
Down on the south side of the Cape in Jubilation this absolutely gorgeous gulf front home went under contract on Thursday sporting a $1,450,000 price tag. Built in 2006, the current owners bought the 5-bedroom, 5-bath, 3,248 luxury home in early 2010 for $950,000, and have completed numerous upgrades since then, such as new roof, plumbing and A/C.
Jubilation was a happening place this week, with buyers penning an offer on an 80′ by 50′, 0.09-acre gulf view lot listed for $75,000, a far cry from the $450,000 it commanded in late 2004. The sellers bought it in 2015 for $50,000.
On McCosh Mill Road in nearby Piney Woods subdivision, the parties shook hands over an agreement on this 80′ by 55′, 0.10-acre lot listed for $54,9000, for which the seller paid $35,000 in the summer of 2012. The X zone lot is near the community pool, and within easy walking distance of the beach.
We’ll head off of the Cape and travel east on C-30 over to Money Bayou where this 50′ wide by 486′ deep, half-acre gulf front lot on Sweetwater Shores Drive went under contract on Monday with a list price of $299,000. The sellers bought it in mid-2016 for $260,000.
Treasure Shores is just beyond Money Bayou and it’s the neighborhood in which buyers found this 3-bedroom, 2 1/2-bath, 1,456 square-foot, first tier home listed for $479,000. The sellers bought it in 2015 for $390,000, and before that it sold in 1999 for $217,000. This is a FEMA flood insurance eligible area.
Our ninth and final contract is on this 3-bedroom, 2 1/2-bath, 2,450 square foot gulf front home on Chickasaw Lane in Indian Pass listed for $975,000. The sellers bought the 68′ wide lot in 2011 for $190,000 and built the home three years later in 2014.
That wraps it up for today. If you’re thinking of buying or selling, let’s get together. Competition for properties is strong and I’ll be glad to help you. Call or text me at 850-227-5197 or drop a line to [email protected] and we’ll get started. I hope to hear from you soon, and really appreciate your taking time to stop by today.