Another quiet week for the Cape San Blas area real estate market, with virtually no change from last Saturday: our inventory is up by two, to 502 this week vs. 500 last week, with 178 homes and 324 lots. Maybe it had something to do with all the news this week of the roller coaster ride on Wall Street, Asian and European markets, but nobody signed or closed any new contracts, either.
What we did have were five price changes, eleven new listings and eight which expired.
The biggest price reduction of the week was a 17% cut on this bay front, 4 bedroom, 3 bath home on C-30 which went from $1,150,000 down to $950,000. Built in 1985, it is situated on a 100′ x 850′ lot, just shy of 2 acres, about 1/4 mile from Presnell’s boat launch.
One of the new listings is one I listed for a gulf front home on the Cape located in Cape Dunes which bears consideration; of the 28 single family gulf front homes currently for sale on Cape San Blas, at only $895,000 this home is priced well below the median price of $1,049,000 and it is on the stable south facing beach (no erosion issues) and it is one of only a handful of homes with FEMA flood insurance. Throw in an attractive gross rental income (GRI) for the year of$30K+ along with high end lovely furnishings throughout and we’re talking 2300 square feet of terrific value. If you’d like to see a virtual tour, click here.
That about wraps up the excitement around here for this week. If you’d like more info on any of these properties, or have questions regarding your own, please feel free to either shoot me an e-mail to [email protected] or call me on my cell at 850-227-5197. Thanks for stopping by today.