Spring is in the rearview mirror as we head into the final days of April, and the market is reflecting the momentum. The MB/SJB/WMB market saw 14 new listings hit this week, highlighted by a renovated canalfront home coming in at $800,000, a price point that rarely shows up on the canal. On the contract side, 8 properties went under contract, keeping the pipeline moving as buyer activity continues to hold steady. Sellers remained active on the pricing front, with 15 price reductions going into May. We had 6 properties close this week. Let’s dive into the sales.
201 Sea Pines Ln
This 4BR/2.5BA brick home in Gulf Aire closed at $540,000 after just 24 days on the market, selling at 97% of its $559,000 list price to a cash buyer. The 2,128 sq ft two-story sits on a 65×115 lot in the X flood zone and sold unfurnished at $253.76 per square foot. Though short-term rentals are not permitted in Gulf Aire, the private deeded beach access, a community pool, and tennis and pickleball courts bring a lot of buyers who do not care about renting their property out.
132 White Blossom Trail
While there may have been one older home, the rest will be new builds. Starting us off, a 3BR/2BA custom home in Magnolia Bluff closed at $420,000, selling at roughly 98% of its $430,000 adjusted list price, though it’s worth noting the home was originally listed at $549,999 back in September before landing at its current price after 189 days on the market. The 1,500 sq ft home sits on a generous 77×141 lot four blocks from public beach access and features impact-resistant windows, spray foam insulation, a tankless water heater, and natural gas. Much like Gulf Aire, the neighborhood does not allow short-term rentals, limiting the buyer pool to only full-time residents and second homeowners.
408 7th St
It is not every week a Mediterranean-style home sells, but this week, a 5BR/4BA Mediterranean home in Mexico Beach closed at $810,000 after just 17 days on the market. The home sold at roughly 90% of its $899,000 list price via conventional financing. Originally built in 1979 and renovated in 2019, the 2,508 sq ft home sits on an oversized 100×158 lot and features a courtyard-style layout with two separate casita guest suites, a gas fireplace, travertine flooring, and a large screened porch. Yet another strong sale for the 4th block.
3702 Hwy 98 108
A furnished 3BR/2BA Tranquil Harbour condo closed today at full list price, $599,000, to a cash buyer, after 66 days on the market. The 1,346 sq ft canal-front unit sold at $445 per square foot and includes a deeded boat slip that is 10’2” wide and a lift, Gulf and canal views, and a community pool, hot tub, and exercise room. It is rare to see a 3-bedroom unit in Tranquil Harbor come up at this price, so the full price sale is no surprise at all!
803 Maryland Blvd
A brand-new, never-lived-in 2BR/2BA house in Mexico Beach closed at $360,000 after 117 days on the market, selling at roughly 91% of its original $395,000 list price. Built in 2024, the home sits on a 75×100 lot with no HOA, and the home is roughly 1000 sqft, heated and cooled. The extended days on market and $35,000 reduction before going under contract reflect the pricing and toughness for smaller homes 2+ blocks off the water.
270 Sea Tern Ln
DR Horton closed another WindMark North townhome at full list price… This 3BR/2.5BA Sabal Floorplan is just over 1400sqft and closed at $344,900, with closing cost concessions included. The townhome features an attached garage and came with a builder’s warranty. It was originally listed at $384,900 back in October before sitting 167 days on the market. Horton held firm at the reduced price and once again used concessions rather than further cuts to close the deal. With roughly 50 townhomes still remaining in the community, the absorption pace here will be worth watching through the summer.
Area Info/Updates
As of recently, I have seen a lot of negative banter about home prices in Florida; however, I wanted ot highlight how well The Mexico Beach/St Joe Beach is doing. Starting closest ot home, I will compare our market to others and wil gradually expand.
The average purchase price in the MB/SJB/WMB area in 2025 was at $587,814, almost exactly the same as the prior year. Our neighbors over in Franklin County, St George Island’s average purchase price went down 6.69% in 2025. When you look west, Panama City Beach also saw a decrease in purchase price, which is going down 3.8% year-over -year. Our good friends over in Watersound saw a 19% decrease in Average sales price, and Miramar Beach witnessed an 8% slide. When you zoom out and look statewide, we are doing better than the average, as the statewide average went down 4.2%. When you look at the national picture, our increase is right below the national average, which is hovering right at 1% compared to Mexico Beach/St Joe Beach’s .086%.
While properties may not be gaining much value year over year, we have weathered the storm far better than our neighbors and the state. In my opinion, a lot of this is due to external factors creating growth, such as commercial infrastructure being rebuilt, crowds in 30-a driving buyers here, and nationwide exposure of our local amenities.
That’s all for this week’s market update. Thanks for reading!
Carter Dorsch