Apr 21 2018

Cape San Blas Real Estate Week in Review – April 14-20, 2018

Published by at 5:45 AM under Cape San Blas

For Sale and Sold SignAt long last Spring finally found us and released us from the Winter that would not go away.  By mid-week we were enjoying warm, sunny days in the upper 70’s, and cool, clear nights in the 60’s.  Our real estate market remains warm and sunny as well, with nine sales, two new contracts, eight new listings, and seven price changes, one of which is a price increase. Even with all that activity, our inventory remains unchanged, closing once again at 281, with 81 homes and 200 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS market. Let’s see what caught buyers’ attention.

Cape San Blas Interior Lot Under Contract March 2018 with List Price of $59,900

We’ll start our review of this week’s nine sales on the north end of the Cape on Hemmingway Lane in Sunset Pointe. The parties sat down at the closing table to sign off on the transfer of title on this 71′ x 148′, quarter-acre, corner lot listed for $59,900. The sellers bought the lot in 2010 for $24,000, and sold it on Tuesday for $58,500.

Cape San Blas Bay View Home Under Contract March 2018 with List Price o $429,000

Just a little over a mile south of Sunset Ponte is Cape Breezes, one of the early neighborhoods on the Cape dating back to the early 80’s.  It spans from bay to gulf, and all properties include deeded bay and gulf access; that bay access is located directly across the street from the home . This handsome log-style private first tier bay view home was built in 2014. The “X” zone lot on which it is built measures 180′ by 94′, and is 4-tenths of an acre. The sellers had it listed for $429,000, and handed over the keys at closing on Friday for $360,000.

Cape San Blas Bay View Lot Under Contract March 201 with List Price of $69,000

Another mile or so southward is Paradise Bay, site of our third sale, a 96′ by 200′, 0.44-acre lot listed for $69,000 and owned by one of the original developers of the subdivision. On Monday it sold for $64,000.

Seagrass Lot Under Contract March 2018 with List Price of $145,000

In nearby Seagrass, our fourth sale is a 90′ by 90′, 0.20-acre interior lot listed for $141,500.  All of the lots in this subdivision are in the X zone.  The sellers bought the property in December 2015 as a bank-owned sale for $78,000, and sold it on Friday for $115,000. In early 2005, it sold for $445,000.  What a difference a decade makes.

Jubilation Gulf View Lot Under Contract March 2018 with List Price of $75,000

Our fifth sale takes us down to the south side of the Cape to Jubilation, where buyers took title to this 80′ by 50′, 0.09-acre gulf view lot listed for $75,000, a far cry from the $450,000 it commanded in late 2004.  The sellers bought it in 2015 for $50,000, and sold it on Monday for $65,000.

Cape San Blas Gulf Front Home Under Contract March 2018 with List Price of $869,000

A few blocks away from Jubilation on Louisiana Lane in Surfside Estates, this next sale is a 4-bedroom, 4-bath, 2,557 square foot gulf front home with 50′ of beautiful beach front. The sellers bought the lot alone in late 2014 for $241,000 and built the home the following year. The new owners picked up the keys at closing on Friday for $810,000 cash.

Treasure Bay Bay Front Lot Under Contract March 2018 with List Price of $159,000

For our seventh sale, we’ll head off the Cape turning left on C-30 and head over to Treasure Bay where this 90′ wide bay front lot went under contract in mid-March with a $159,000 list price.  It’s 1,572′ deep, for a total of 3.2 acres, but as you can see in the photo above almost all of the acreage is bay-bottom. The sellers bought it back in 1992 for a modest $25,000, and sold it on Tuesday for $152,000.

Treasure Shores First Tier Home Under Contract March 2018 with List Price of $479,900

We’ll turn around and heading back east on C-30 over to Treasure Shores where buyers found this 3-bedroom, 2 1/2-bath, 1,456 square-foot, first tier home. The sellers bought it in 2015 for $390,000, and sold it last Friday for their full list price of $479,900.  This is a FEMA flood insurance eligible area.

Indian Pass Gulf View Lot Under Contract April 2018 with List Price of $49,900

Our ninth and final sale is on the Indian Pass peninsula in a subdivision called The Reservation. It’s home to this quarter-acre, second tier, gulf view lot listed just two and a half weeks ago for $49,900. The sellers bought it in late 2003 for $200,000, and on Wednesday they sold it for their full list price of $49,900.

Cape San Blas First Tier Lot Under Contract April 2018 with List Price of $119,900

Only two new contracts, the first of which is a 50′ by 230′ first tier lot on Mercury Lane in Surfside Estates on the south side of the Cape.  The sellers have owned it since 1999 when they bought it for $59,000. They put it on the market in January asking $119,900.

Indian Pass First Tier Lot Under Contract April 2018 with List Price of $119,000

The second contract takes us back over to Indian Pass were buyers fell in love with this roughly quarter-acre first tier lot listed for $119,000.   County records seem to indicate they bought it in December 2004 for $365,000.

That does it for this week. If you’re interested in finding out about coastal opportunities or if you’re considering selling, let me know and I’ll be glad to help you either way. Call or text me at 850-227-5197 or shoot an email to sherri@sherridodsworth.com . Have a terrific week, and thanks so much for taking time out of your schedule to stop by today.

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