Summer sales keep sizzling, and we turned in another good week, closing five sales and penning seven new contracts. Sellers changed six prices, and added fourteen new offerings to the menu. Hard to believe, but even with all that activity our inventory remains unchanged from last week, closing at 295, with 84 homes and 211 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS. Let’s see what buyers have been up to.
The first two of our five sales are located in Ovation, starting off with this irregularly shaped “X” zone lot on Regatta listed for $44,900, close to the $44,500 if sold for in 2014. This is a very pretty home setting on a site with good elevation. The seller bought it in Dec. 2015 for $78,500, and sold it on Friday for $39,000.
The second Ovation sale is on Pinnacle, this one listed for $49,500. The sellers bought the irregularly-shaped, 0.6-acre property two summers ago for $57,500, and sold it on Friday for $42,000. In 2005, the developer sold it for $355,000.
On the south side of the Cape on Mercury Lane in Surfside Estates, the parties went to the closing table on this 4-bedroom, 3-1/2-bath, 1,744 square foot gulf view home on a quarter-acre lot listed for $489,900. The new owner took title on Friday for $468,000 cash.
Just three streets over in Boardwalk, this 3-bedroom, 2-bath, 1,458 square foot bay view home went under contract in early July with a list price of $325,000. Boardwalk is a quiet, residential neighborhood from the mid-1980’s with 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. They handed over the keys at closing on Friday for $300,000.
Our fifth and final sale is about a third of a mile on down the road. It’s an irregularly-shaped, 1.22-acre gulf front lot next door to Cape Dunes under contract since the first week of July sporting a $299,950 price tag. It was carved out of a parent parcel that sold in 2001 for $288,900. This portion sold last Friday for $283,250.
Now on to our seven new contracts, starting off on Tampico Lane where buyers had their offer accepted on this 4-bedroom, 3 1/2-bath, 1,918 square foot home listed for $559,900. It’s nestled on a roughly quarter-acre, “X” zone lot, and was built in 2003. The sellers bought it in late 2004 for $625,000.
Seagrass subdivision is just a short stretch down the road from Tampico, and it’s the site of our second contract which was written on this quarter-acre, “X” zone corner lot listed for $140,000, a nice return on the $52,000 it sold for in late 2012.
Haven Road lies on the gulf side of Seagrass, and its home to this 4-bedroom, 3/2-bath, 2,366 square foot first tier lovely listed for $775,000. It’s a great rental property, generating $93,600 in gross rental income in 2017. It last sold in the summer of 2008 for $720,000.
Our next stop is Belize Drive, located less than a quarter mile south of The Trading Post. Here the parties shook hands on this 3-bedroom, 3-1/2-bath, 1,997 square foot gulf front home listed for $899,500. It was built on the 65′ wide lot in 2005, and last sold in the summer of 2015 for $520,000.
Our next stop is down by the rocks at Stumphole, where sellers accepted an offer on this 4-bedroom, 3-bath, 2,112 square-foot gulf front rental home listed for $849,900. They built it on the 55′ wide lot in 2013. In 2017 it generated $58,789 in gross rental income for them.
Gulf front properties were super hot this week, and our sixth contract is no exception, with sellers accepting an offer on their 88′ by 971′, 1.67-acre gulf front lot in San Blas Plantation, the subdivision in which my office is located. The seller has owned it since 1995 when they bought it for $90,000.
We’ll leave the Cape for the first time today heading over towards Indian Pass to Canoe Lane, where sellers accepted an offer on their 3-bedroom, 3-bath, 1,530 square foot gulf front rental home. We saw this one here in 2015 when it sold as a bank-owned property for $273,000. Those buyers have done an amazing renovation breathing life back into the property, turning the ugly duckling into quite a lovely swan. It looks as if all their hard work is about to pay off for them.
And that’s a wrap. There’s plenty going on, with strong buyer demand. If you’re thinking of buying or selling, we need to talk. Call or text me at 850-227-5197 or write me at [email protected] and we’ll get started. Keep cool, have a great week, and thanks so much for taking a few minutes to stop by today.