Wow! The buyers are back in force. After a couple of back to back slow weeks, this week we closed three sales and added nine new contracts. Sellers posted For Sale signs on sixteen new listings, and changed prices on six others. Even with all those new listings, our inventory inched up only by two, closing at 300, with 89 homes and 211 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what’s moving.
The first of our three sales is in the gated community of Ovation which spans from gulf to bay and features lovely amenities such as two pools, a bay-front beach, community center, fitness facilities and tennis courts. This bay view home was snapped up almost immediately when it debuted in the MLS the first week of June. It’s a 4-bedroom, 3-1/2-bath, 2,143 square-foot bay view home listed for on an X-zone lot, and sold fully furnished. The sellers bought it just three years ago for $459,000, listed it for $569,000, and handed over the keys to the new owners on Friday for $555,000.
Next up, we’re stopping just a bit south of Scallop Cove, where the parties went to closing on this 2-bedroom, 2-bath, 900 square foot gulf front cottage listed for $749,000. It was built in 1985 but after the sellers bought it in late 2013 for $370,000, they totally renovated the place transforming and updating it into a welcoming and attractive coastal retreat. Those renovations include a brand new kitchen with a transformed layout, all new cabinets and appliances. On Tuesday the new owners took title for $745,000 cash.
We’ll head out onto C-30 for our third sale which is this 50? wide by 370? deep gulf front lot in Water’s Edge, the second subdivision you come to after turning right off of Cape San Blas Road and heading east. The majority of this neighborhood is on the north side of C-30, but the subdivision does have this and one other gulf front lot. The seller bought this lot in the summer of 2003 for $500,000, had it listed for $359,900, and let it go on Friday for $350,000 cash.
The first two of our nine new contracts are on the north end of the Cape in Barrier Dunes starting with this 3-bedroom, 3 1/2-bath, 1,865 square foot gulf front townhouse that was snapped up in just three days after it hit the MLS. The sellers paid $455,000 for it in 2004 and made improvements over the years, including a totally remodeled kitchen with new cabinets and granite countertops. They are asking $585,000 for it.
The second contract at Barrier Dunes is on a 2-bedroom, 2 1/2-bath 1,216 square foot gulf view unit listed for $335,000. The sellers bought it in 2012 for just $200,000. Since then they made major improvements, renovating the kitchen, replacing all the flooring on the first level, adding new furnishings and fresh paint throughout. Electrical upgrades and installations were provided by a company like Asbury Electric (you can visit their site here: asburyelectric.com/electrician-in-hampton-va/) and these kind of improvements only helped the property to grow in value.
Seems we’re doing things in pairs today, as our next two contracts are on adjacent lots on the corner of Sandlewood and Robinwood Drives in Peninsula Estates. This is one of the original subdivisions on the Cape, spanning from bay to gulf with all properties conveying with deeded access to both. There is no HOA or HOA fees. It is located about a mile south of the entrance to the state park. Each of these two lots is listed for $69,000; the owners have had them for so long I’m not finding any sales data on them on the property appraisers site.
About half a mile further south is Cape Breezes, another original Cape neighborhood platted about the same time as Peninsula Estates in the late 70’s. It, too, spans from gulf to bay with deeded access to each, with no HOA or HOA fees. On the corner of Cape San Blas Road and Starboard Street, buyers had their offer accepted on this handsome 3-bedroom, 3-bath, 1,888 square foot gulf view home listed for $575,000. Even though this sits on the bay side of CSB Road, the views of the gulf from the home are really impressive, and it is only a short stroll over to the beach walkover. The home was built in 2005 and the current owners bought it in early 2016 for $363,500 and have made major improvements to the property since then such as adding an elevator, replacing porch rails, adding south-facing windows, fencing the backyard, adding an RV parking area, and totally landscaping the entire half-acre lot. The adjacent half-acre lot on the south side is available for $149,000.
Down on the south side of the Cape, our next new contract is in Boardwalk where this 3-bedroom, 2-bath, 1,458 square foot bay view home went under contract last Sunday with a list price of $325,000. Boardwalk is a quiet, residential neighborhood from the mid-1980’s. It has a lovely community pool over looking the gulf, and a very nice walkover to the beach. The sellers of this home are the original owners with records indicating they bought the lot in 1987.
About a third of a mile on down the road, this irregularly-shaped, 1.22-acre gulf front lot next door to Cape Dunes went under contract on Monday sporting a $299,950 price tag. It was carved out of a parent parcel that sold in 2001 for $288,900.
We’re back out on C-30 heading over to Sweetwater Shores in Money Bayou where sellers accepted an offer on their 63′ by 490′, .71-acre gulf front lot listed for $279,000. It hit the MLS on Monday and was under contract by Friday. The seller bought it in 2004 for $750,000. Ouch.
We’ll wrap things up today over on Indian Pass where this canal-front lot on Painted Pony Drive in Indian Summer went under contract on Friday with an asking price of $99,000. The three quarters of an acre lot is 90′ wide, 340′ deep, and offers beautiful views of Indian Pass Lagoon. The sellers bought it a little over a year ago for $72,000. I guess they had a change of plans.
That’ll do it for this week. Glad to have so much activity going on as people are snapping up 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.