Jul 31 2015
This has been the hottest week of the summer so far with daily forays into the 90’s and only making it into the mid-80’s at night – just like Florida in July. It’s been another hot week in real estate, too, with four more sales, eight new contracts, eight new listings, and eight price changes. Our inventory closed once again at 265, with 82 homes and 183 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take look at what’s moving.
The first of our four sales is on the corner of Cape San Blas Road and Antilles Dr. where one side of this duplex went under contract the end of June with a list price of $219,000. The 2-bedroom, 2 1/2-bath, 1,400 square foot unit is located in an X zone, and last sold in June 1999 for $80,400. On Wednesday the new owners picked up the keys at closing for $210,000.
A few blocks further south on Cape San Blas Road, our second sale is a For Sale By Owner sold by an agent who was in search of a large parcel of gulf front for her client, which this certainly is. It’s 100′ on the gulf, spanning all the way back to the road, for a total of approximately 1 1/2 acres of land. According to the county property appraiser’s site, the sellers closed on this on July 7 for $510,000. The MLS notes the contract date of this sale as June 23, with a closing date of July 30 for $750,000.
Sale number three is down on the south side of the Cape in Surfside Estates on Mercury Lane where two adjacent lots that went under contract on July 11 with an aggregate list price of $139,900 sold on Wednesday for $129,000 cash. The parties split the HOA’s one time buyer transfer fee of $2,000.
Our fourth and final sale takes us off the Cape and over to Waters Edge where a gulf view lot fronting C-30 went under contract last week with a list price of $39,900 and closed on Friday for $33,000. In 2003 it sold for $129,900; those owners eventually lost it to the bank who sold it to the current seller in late 2013 for $15,000.
We’ll return to the north side of the Cape for our review of this week’s crop of eight new contracts, stopping first in Ovation, where this bay front lot listed for $259,000 went under contract on Thursday. The seller bought the 0.20 acre home site in May 2012 for $67,000.
A mile or so down the beach from Ovation in Cape Shoals, our second contract is on a 2-bedroom, 2 1/2-bath, 1,120-square foot gulf front townhouse that went under contract on Tuesday with a list price of $269,000. The sellers bought this circa-1986 home in early 2005 for $309,200.
We’ll head a few blocks further south to Seagrass for our third contract which is on this 90′ by 120′, quarter-acre “X” zone gulf view lot that went under contract Monday with a list price of $219,000. The sellers bought it in mid-2013 for $134,5000. Hard to believe that back in 2005 it went for $505,000.
Cape Sands Landing is a neighborhood of gulf view duplexes dating from the early 80’s located about half a mile north of Scallop Cove. On Tuesday, buyers penned a contract there on this 3-bedroom, 2-bath unit listed for $329,000. The sellers bought it for $319,000 in 2004, the equivalent of $402,993 today in inflation-adjusted dollars.
We’re back on the south side of the Cape for our fifth contract which is on a third-acre interior lot on Turnstone Drive in San Blas Plantation. The sellers bought the lot in early 2006 for $42,500, and put it under contract Friday with a list price of $70,000.
Not far from San Blas Plantation, our sixth contract is on a bay front acre-sized lot listed for $99,000. This is an estate sale so it may be awhile before we know what the closing price is. It last sold in late 2002 for $185,000.
We’re heading off of the Cape again for our last two contracts, stopping first in Treasure Shores where this 75′ by 342′, 0.6 acre lot went under contract last Saturday with a list price of $429,000. Treasure Shores is a FEMA flood insurance eligible neighborhood. The sellers bought the property in 2007 for $645,000.
We’ll wrap things up over in The Cottages at Indian Summer, a pretty little secluded gulf view subdivision near the Indian Pass Raw Bar. On Tuesday, buyers fell in love with a quarter-acre second tier lot listed for $27,000.
That’ll do it for this week. Glad to have so much activity going on as people are snapping up great deals on premium properties. If you’re looking for terrific values, there’s no time like the present to start searching, and I’ll be glad to help you with that. Simply call or text me at 850-227-5197 or use good old reliable email to email@example.com. Get in on the sales action here at the Cape where the only thing hotter than the weather is our real estate market. Have a terrific week, keep cool, and hope to see you back again next week. Thanks for stopping by today. Take care.