Mar 03 2018

Cape San Blas Real Estate Week in Review – Feb. 24-Mar. 2, 2018

Published by at 7:26 AM under Cape San Blas

For Sale and SoldAnd the beat goes on. March rolls in with a roar as our market continues to soar, with six sales and three new contracts. Sellers added fourteen new listings and changed prices on five others.  Even with all those new listings our inventory only grew by three, ending the week at 275, with 83 homes and 192 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.  Lots to see today so let’s get rolling.New Gulf View Home at Cape San Blas Under Contract Jan 2018 with List Price of $699,000

The first of our six sales is on this recently completed new home on Cape San Blas Road in Hibiscus Bay.  Located directly across the street from the beach access point by Rish Park, it offers great gulf views from its top floor living level.  The spacious 2,950 square foot home features five bedrooms and four baths, and is elevator ready.  The property conveys with deeded gulf and bay access, and there is a neighborhood pool. The builder is also the listing agent, and he accepted an offer the first week of January with a list price of $699,999. He purchased the one-acre lot last January for $80,000, and sold the home on Tuesday for $689,000.

Cape San Blas Road Front Lot Under Contract Jan 2018 with List Price of $105,000

Our second sale is this 80′ by 122′ lot on the corner of Cape San Blas Road and Antiqua, just a bit north of Scallop Cove.  The owners bought the roughly quarter-acre lot in late 2009 for $50,000, had it listed for $105,000, and signed over the title on Wednesday for $100,000 with seller financing.

Indian Summer First Tier Lot Under Contract December 2017 with List Price of $65,000

Sale number three is this first tier lot in the secluded neighborhood of Indian Summer over on Indian Pass. This was a probate sale.  It was listed for $65,000 and sold on the Wednesday to the adjacent property owner for $50,000 cash, which is what the developer sold the property to the late owner for in 1997.

Indian Pass Gulf Front Lot Under Contract Jan 2018 with List Price of $265,000

Our fourth sale is a 50′ by 380′ roughly half-acre gulf front lot over on Indian Pass. The sellers bought the property on the steps of the county courthouse in February 2017 for $146,000, listed it for $265,000, and signed over the title at closing on Monday for $250,000. Nice little bit of profit for a 12-month investment.

1903 Indian Pass Home Under Conract Dec 2017 with List Price of $999,000

Our next to last sale is a unique property further east on Indian Pass Road that I just absolutely love. This circa-1903 Key West style 3 bedroom, 3 1/2-bath, 2,638 square foot historic home was relocated onto a 92′ wide gulf front lot years ago and has been carefully restored. It has heart pine floors throughout, original stained glass windows, adjustable transom windows, and 12’6″ ceilings. The custom designed gourmet kitchen features floor to ceiling cabinets, top of the line stainless steel appliances, granite countertops and a ceramic apron farm sink. The home has six fireplaces, including one in the kitchen and the master bathroom. Custom Bahama shutters cover most of the windows. It has over 1,000 square feet of screened porches and a 6′ x 11′ tiled chlorine-free spa pool. The lot is over an acre in size and has been professionally landscaped with native vegetation.  The owners bought it in September 2014 for $640,000; in early 2004 it sold for $1.65M. The sellers had it listed for $999,000 and handed over the keys to the new owners on Wednesday for $949,000.

Indian Pass Lagoon Front Lot Under Contract Feb 2018 with List Price of $55,000

Our sixth and final sale is this lagoon front lot close to the Indian Pass campgrounds. It features 130 feet of waterfront, has a dock in place for water access, and was listed for $55,000. From the aerials, it does not appear to have enough uplands for a suitable home footprint. If it looks familiar, it may be because it was under contract briefly once before in early November of last year. The sellers bought it in 1989 for $6,500, and sold it last Friday for $40,000.

Barrier Dunes Gulf Front Townhouse Under Contract March 2018 with List Price of $549,000

Now on to our review of this week’s three new contracts starting where we so often do on the north end of the Cape in Barrier Dunes where buyers fell in love with this view from the deck of a 3-bedroom, 3 1/2-bath, 1,845 square-foot gulf front townhouse listed for $549,000. The circa-1987 home is located in the sought after X zone. The sellers bought it in late 2010 for $320,000 and have put a lot of work into it since then.

Interior Lot in Ovation at CSB Under Contract March 2018 with List Price of $44,900

A mile or so south on the Cape on the bay side of Ovation, an owner accepted an offer on his irregularly shaped “X” zone lot on Regatta listed for $44,900, close to the $44,500 if sold for in 2014. It last sold in Dec. 2015 for $78,500. This is a very pretty home setting on a site with good elevation.

Gulf Front Home Under Contract March 2018 with Lis Price of $829,900

Our third and final new contract is over along the C-30 Corridor in Treasure Shores where buyers had their offer accepted on this 4-bedroom, 3-bath, 2,008 square foot gulf front home listed for $829,900. It’s situated on a roughly half acre lot in a VE flood zone with 75′ of water frontage . The sellers bought it in early 2007 for $875,000.

Crazy busy for this time of year. If you’re thinking of buying or selling, I’ll be glad to help you so call me at 850-227-5197 or drop a note to  I really enjoy working with my readers and getting to know you. Thanks so much for taking time to stop by today and hope to hear from you soon.



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