Apr 13 2018

Cape San Blas Real Estate Week in Review – April 7-13, 2018

Published by at 10:30 PM under Cape San Blas

For Sale Sold SignMost of Georgia’s spring breakers went back to school this week so we had fewer visitors here shopping for beach properties, but Realtors were still busy as could be.  We closed five sales and wrote up four new contracts, while sellers added ten new listings and changed prices on four others.  Even with all that activity, our inventory hardly moved at all, shedding just one, closing at 281, with 80 homes and 201 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor Market MLS.

Cape San Blas Interior Lot Under Contract March 2018 with List Price of $49,900

We’ll launch into our review of this week’s five sales way up on the north side of the Cape in Sunset Pointe where buyers one month ago had their offer accepted on this third-of-an-acre interior lot. The developer quit-claimed the property to the sellers in 2010. Sunset Pointe is divided into two sections, one fronting the gulf, the other on the bay side.  Each section is gated, there is a community pool, and all properties convey with deeded gulf access.  The lot was listed for $49,900 and closed on Tuesday for exactly that.

Ovation Bay Biew Lot Under Contract April 2018 with List Price of $39,900

About a mile down the road in Ovation our second sale is this irregularly-shaped bay-view lot in an AE flood zone that went under contract just last week with a list price of $39,900. The sellers bought it from the developer in September 2012 for $29,000, and sold it on Thursday for $38,900 cash.

Cape San Blas Gulf View Lot in Hibiscus Beach Under Contract March 2018 with List Price of $559,000

In nearby Hibiscus Beach, this newly listed gulf view lot caught buyers attention and went under contract just five days after it was listed.  The 80′ by 170′, 0.32-acre, “X” zone gulf view lot was listed by the developer for $559,000. There is a small portion of Rish Park between it and the Gulf, so it won’t be built on, but it is not actual gulf front, and the owner can’t build a walkover to the beach from their home when they build.  The new owners took title on Wednesday for $549,500 using conventional financing.

Gulf Pines 1st Tier Home Under Contract March 2018 with List Price of $499,000

For sale number four, we’ll head off the Cape traveling east on C-30 to Gulf Pines to this 2-bedroom, 2-bath, 1,200 square foot, first tier home listed for $499,000. The sellers paid $120,000 for the quarter-acre lot in early 2016 and built the home that same year. On Monday they handed over the keys to the new owners for $475,000.

Gulf Front Lot at Money Bayou Under Contract March 2018 with LIst Price of $299,000

A little further east on C-30 over in Money Bayou our fifth and final sale is this 50′ wide by 486′ deep, half-acre gulf front lot on Sweetwater Shores Drive that went under contract the first week of March with a list price of $299,000.  The sellers bought it in mid-2016 for $260,000, and sold it on Friday for $279,500.

Ovation Gulf Front Lot Under Contract April 2018 with List Price of $419,000

Now on to our four new contracts returning to Ovation where the parties came to an agreement on terms over this 50′ wide, 0.38-acre, gulf front lot listed for $419,000. Interesting history here. In May 2012, Ashwood Development sold it during their liquidation sale for $135,000. That buyer sold it the following year for $243,700 to the current owners.

Bay Front Home on C-30 Under Contract April 2018 with List Price of $539,900

Over on SR-30 near Triple Tails Restaurant in Simmons Bayou, buyers had their offer accepted on this 3-bedroom, 2-bath, 1,920 square-foot, bay front beauty listed for $539,900. It’s nestled on a 2.45-acre parcel with 122′ of waterfront, and was built in 1995.  One of the principals in the LLC selling it bought it in 2004 for $650,000.

Indian Summer First Tier Lot Under Contract April 2018 with List Price of $94,000

Our last two new contracts are over on Indian Pass, starting with this first property in Indian Summer which is located just off the first big turn shortly after you drive onto Indian Pass Road. Buyers had their offer accepted on this 68′ by 170′, quarter-acre, first tier lot listed for $94,000 which the seller bought in late 2014 for $62,500.

Indian Pass 2nd Tier Lot Under Contract April 2018 with List Price of $49,900

Further out on the Indian Pass peninsula, sellers accepted an offer on this newly-platted 2nd tier lot listed for $49,900. The seller bought the parent gulf front tract in February of this year and is in the process of doing a minor replat to produce this new lot.

That’s a wrap – good to see such continuing market interest. I’ve been working with so many buyers negotiating great deals on lots and homes, and you can, too. If you’re thinking of getting in on some of these values, let’s talk! Call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com and we’ll get started. Thanks so much for taking time out of your busy schedule to stop by today – hope to hear from you soon.

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