Spring Break has officially wrapped up, and the traffic along Hwy 98 is finally starting to thin out, a welcome sight for those of us who call this place home year-round. The MB/SJB/WMB market remained active heading into the post-spring stretch, with 10 new listings coming online and 12 properties going under contract this week, including a beachfront home with a pool. Sellers stayed busy on the pricing front as well, making 30 price reductions across the market as they work to stay competitive moving into the shoulder season. We had 3 sales close this week. Let’s dive in.
340 CR 386 S
This 6-acre RV Park was the highest sale for the week, closing at $1,550,000 off-market on Wednesday. The 28-slip park was developed in 2018, prior to Hurricane Michael. While the entire parcel contains 6 acres, the park itself only sits on the front 2 acres, leaving roughly 4 acres for development. Other features included a gated entry, laundry facility, public bathrooms, and a pavilion.
117 S 37th St C
A 3BR beachfront townhome on S 37th St sold for $1,265,000 this week, selling for a shocking 74% of its original $1,699,900 askign price. The property sat on the market for 316 days and saw 7 reductions before finally securing a buyer, using conventional finance. While the property is narrower than your typical townhome, it does feature an elevator, a pool, and is very close to the location of the future Al Cathey Memorial Pier.
118 S 40th St A
The last sale of the week is yet another newly-built townhome. This 4BR 3.5BA unit was a brand new build, constructed by JAson Adams, and closed for $1,030,000 after roughly 4 months on the market. The cash buyer was able to get the property at 82.4% of the property’s original listing price of $1,249,900. The 3rd tier property includes a garage, top-end appliances, and a great view of the Gulf. This is yet another great sign for the beachside market, with another sale over $1M.
Area Info/ Market Updates
One of the best sights of Mexico Beach right now is the Grocery Store being built. While it may just be a block structure right now, it is great to see all of the progress being made in such a short time frame. The property is taking shape, and it is all starting to feel real. Another area that has recently seen some progress is Parker Park. BGN Contractors began driving piles this week for the foundation of the Ampiheater. The City of Mexico Beach also provided a more in-depth rendering of what the structure will eventually look like. This will be a great feature for upcoming Music in Park events. It is all very exciting, and I will continue to provide updates and pictures as progress is made.
That’s all for this week’s market update. Thanks for reading!
Carter Dorsch