Jul 28 2017

Cape San Blas Real Estate Week in Review – July 22-28, 2017

Published by at 9:57 PM under Cape San Blas

For Sale Sold Sign We’re having a great summer here along the coast with vacation rental companies booked pretty much to capacity and Realtors closing property deals, this week closing seven sales and writing up two new contracts, adding three new listings, and changing prices on four others. With all that, our inventory inched up by one, closing at 273, with 84 homes and 189 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what’s selling.

Cape San Blas First Tier Gulf View Lot Under Contract July 2017 with List Price of $235,000

The first of our seven sales is a 75′ by 270′, roughly half-acre first tier lot just a bit north of Scallop Cove listed for $235,000. The sellers bought the “X” zone lot in late 2000 for $54,000, and sold it on Wednesday for $225,000.

Cape San Blas Gulf View Lot In Jubilation Under Contract July 2017 with List Price of $59,900

Our second sale takes us down to the south side of the Cape, which is on a 50′ by 80′, “X” zone corner lot in Jubilation listed for $59,900.  This is the sister development of Ovation on the Cape, both projects having been developed by Ashwood Development of Atlanta. Jubilation features a gulf front pool with pool house and a wooden boardwalk down to a wide expanse of beach. The seller bought the lot in late 2004 for $365,000, and sold it this week for $56,500 cash.

Treasure Bay Lot on SR-30 Under Contract July 2017 with List Price of $46,900

Further east towards town out along C-30 over to Treasure Bay, sale number three is this 75′ by 218′, third-of-an-acre bay view lot listed for $46,900. The sellers bought t back in 1999 for $7,800 ($11,468 today in inflation-adjusted dollars) and turned a bit of a profit on Wednesday signing over the title for $38,000.

Lagoon Front Home Under Contract June 2017 with LIst Price of $399,000

We’ll circle back and travel east on C-30 out past the Indian Pass Raw Bar for sale number four, a 3-bedroom, 2-bath, 2.009 square foot lagoon front home listed for $399,000.  It is nestled on a 1.6-acre lot with 104′ of waterfront. The sellers bought the postcard-perfect water-view lot in 2013 for $26,200, and built the home that same year. On Friday the happy new owners picked up the keys at closing for $390,000 cash.

Indian Pass First Tier Lot Under Ccontract July 2017 with List Price of $99,500

Indian Pass is the site of our final three sales, starting with this 42′ by 231′, 0.22 acre first tier lot listed for $99,500.  The property last sold in December 2004 for $365,000. On Wednesday the sellers received their full asking price of $99,500.

Indian Pass Home Under Contract June 2017 with List Price $299,500

A little over 2 miles east along Indian Pass Road is a subdivision platted in the early 1950’s known as Indian Pass Beach Subdivision, and it is where the parties closed on this 2-bedroom, 1-bath, 1,288 square foot X-zone home listed for $299,500. The sellers bought the circa-1989 home in July 2011 for $135,000, fixed it up quite a bit, and handed over the keys on Wednesday for $280,000.

Single Family Fixer Upper on Indian Pass Under Contract July 2017 with List Price of $145,000

Our seventh and final sale is in the same subdivision on Higgins Avenue where someone elected to take on the challenge of transforming this 720 square-foot, 2-bedroom and 1 bath fixer upper listed for $140,000. The X-zone, 0.18 acre lot was sold in 2002 for $91,500.  On Friday the new owners took title to the challenge for $120,000 cash.

Cape San Blas 1st Tier Lot on South Side of Cape Under Contract July 2017 with List Price of $109,900

Only two new contracts this week, both on the south side of the Cape, beginning with this 50′ by 239′, quarter-acre first tier lot on Mercury Lane in Surfside Estates listed for $109,900. In early 2004 this lot sold for $345,000. The sellers bought it in April of last year for $58,000.

Cape San Blas Bank-Owned Gulf Front HOme Under Contract July 28 with List Price of $429,900

Our other new contract is on a bank-owned, 3-bedroom, 4-bath, 2,324 square foot gulf front home in Cape Dunes listed for $429,900.  The previous owner bought it in early 2005 for $905,000.

Well, that does it for this week. If you have questions regarding coastal properties, or if you’re considering selling, I’d love to talk with you. As you have seen, our housing inventory is still pretty low. Please call or text me at 850-227-5197 or send an email to sherri@sherridodsworth.com . Have a terrific week, and thanks so much for taking time out to stop by today.

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