Apr 25 2015
A string of days of April showers didn’t dampen buyers’ enthusiasm as we turned in yet another strong week, with ten sales, four new contracts, ten new listings, and six price changes. Our inventory grew by eight, closing the week at 255, with 85 homes and 170 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market. Let’s see where all the action was.
To begin this week’s review of our ten sales, we’ll head up to Secluded Dunes on the northern end of the Cape where this 115′ by 271′ gulf front lot went under contract at the beginning of the month with an asking price of $900,000. If it looks a bit familiar, that may be because the sellers bought it back in September for $750,000. On Wednesday, they sold it for $900,000 cash.
Just a bit further south is Barrier Dunes where our second sale is a 3-bedroom, 3-bath, 1,172 square foot bank-owned unit listed for $193,900 which the bank sold at auction. The previous owners paid $370,000 for it in August 2004, even though it had sold just two months earlier in June for $207,000. If this one also looks familiar it may be because over the past several years it has been under contract six times without ever making it to closing. The auction did the trick with the winning bidder picking up the keys at closing on Monday for $176,925.
Our third sale is another townhouse, this one a 2-bedroom, 2 1/2-bath, 1,120 square foot unit on Nassau Lane in Cape Shoals that went under contract in mid-March with a list price of $299,999. It was a bank-owned property when the sellers bought it in March 2011 for $145,000. They renovated and furnished it very nicely, and sold it for $275,000 cash on Thursday.
On nearby Tobago Lane, our next sale is a 100′ by 130′ one-third acre second tier lot listed for $139,000. I didn’t find any prior sales history data on this one. On Wednesday it went for $132,500 cash.
Buyers wanted gulf front properties this week, and no wonder as warm and beautiful as those lovely teal waters have been lately! Sale number five is on a gulf front home just a few hundred feet south of Scallop Cove. This 4-bedroom, 4-bath, 2,344 square foot waterfront home built in 2005 went under contract in mid-March with a list price of $699,000, and closed last Friday for $685,000 cash.
Sale number six is a 50′ wide gulf front lot a bit south of Scallop Cove listed for $279,000. Someone bought it in 2005 for $1.5M and put these pilings in but never got around to building. On Wednesday the new owners picked up title to it at closing for $257,500 with conventional financing.
Our seventh sale is down by the rocks at stumphole; it’s a 3-bedroom, 3-bath, 1,876 square foot gulf front home built in 2012. The sellers bought it the following year in August 2013 for $400,000, and put it under contract last month with a list price of $489,000, and turned over the keys to the new owners on Monday for $460,000.
Sale number eight finds us in San Blas Plantation on Turnstone Drive where a one-third acre interior lot listed for sale by owner was sold by an agent with a willing buyer for $66,000.
On nearby McCosh Mill Road in Piney Woods, buyers penned a deal three weeks ago on this 131′ by 58′ “X” zone interior lot sporting a $119,900 price tag. Piney Woods is a nice little subdivision, and the HOA fees are very reasonable, currently at just $750 per year. New owners picked up the title on Tuesday for $114,900 cash.
Our tenth and final sale is at The Club at Cape San Blas, a tasteful condo complex on the beach completed around 2005. Last month, a 2-bedroom, 2-bath, 1,200 square foot gulf front unit went under contract with a list price of $299,000. It wasn’t listed as a short sale despite having last sold in April 2006 for $630,000. On Wednesday it closed for that full list price of $299,000.
Now on to our four contracts, the first two of which are up in Ovation beginning with this 4-bedroom, 3 1/2-bath, 2,143 bay view home that went under contract on Wednesday with a list price of $449,000. This vacation rental property was built in 2012.
At the other end of Echo Lane folks wrote a contract up on a first tier bay view lot bargain priced at just $79,900. The sellers bought it in the summer of 2012 for $59,000.
We find our third contract out over on C-30 where this 3-bedroom, 2-bath, 1,380 square foot home went under contract Monday with a list price of $192,500. The sellers bought it in April 2013 for $165,000, and prior to that it sold in early 2007 for $185,000.
Our fourth and final new contract is east on C-30, out past the Indian Pass Raw Bar. Here a lot on Indian Pass Lagoon with 83′ of water frontage went under contract on Thursday with a list price of $34,900. The seller bought it in mid-2011 for $25,000.
And that does it for this week. With buyer demand as strong as it is we need more inventory. If you’re toying with the idea of selling, please call me at 850-227-5197. I’ll be glad to provide you with a market analysis to give you a real world idea as to the current probable market value of your property. I hope to hear from you soon, and really appreciate your taking time to stop by today.