The stretch between Spring Break and Memorial Day is one of the more interesting windows to watch in this market, and this week didn’t disappoint. The MB/SJB/WMB area saw 21 new listings hit the market, 9 properties go under contract, and 23 price reductions as sellers continue to sharpen their pencils ahead of the summer push. We had 7 sales close this week, headlined by the second of the 42nd St canalfront townhomes, which continues to break records for Mexico Beach canal sales. Let’s get into it.
100 S 42nd St B
Unit B of the new 42nd St canalfront quadplex closed off-market at $2,550,000, $150,000 higher than what Unit A sold for in April. The 5BR/4.5BA, 2,684 sq ft new-construction townhome sold at $950 per square foot. This sale has now beaten out the sale of Unit A for the highest canalfront sale ever in Mexico Beach. With another unit set to close soon, that leaves Unit D still for sale.
3300 Hwy 98 #108
A furnished 2BR/2BA condo at Waterside Village closed at $367,000, selling at roughly 98% of its $375,000 list price after 207 days on the market. The 1,019 sq ft ground-floor unit marks the fifth sale in Waterside Village over the last 12 months, which is more sales than the prior 3 years combined. This is a great look for the condo market, as they have already been 70% of the amount of condo sales so far this year compared to last year.
11 W Beachcomber Trl
The first lot in Phase 2 of Sugar Sand closed this week at full list price $495,000, once again off-market. The 62×85, .12-acre X flood zone lot comes with access to Sugar Sand’s private gated amenities, including a gulf-front community pool, pickleball courts, and the 15′ wide boardwalk to the beach. While this is the first sale, there will be another 47 lots to hit the market/sell. Expect ot see them come live soon!
111 Gulf Terrace Ln
This 3BR/2BA modular home in the back of St. Joe Beach closed at $475,000 after 38 days on the market, selling at roughly 92% of its $515,000 list price and selling fully furnished. The 1,620 sq ft, 2022-built home sits on a .25-acre lot with a pole barn, and at $293 per square foot, this is a great price for modular builds, especially 2+ blocks from the beach.
7030 Americus Ave
A 2025-built, 3BR/2BA beach house in St. Joe Beach closed at $785,000 after 328 days on the market, selling at roughly 96% of its original $859,900 list price. The 1,881 sq ft home sits on a 75×150 lot, one block from the beach, and closed for $10,000 more than it’s neighobring house, which was built at the same time by the same builder. The long days on market are largely a story of pricing; the home started too high and found its price over time.
Lot 3 Lightkeepers Dr
A .18-acre lot in the Beacon by the Sea subdivision of St. Joe Beach closed almostr 20% off of the asking price, at $123,000. The lot was sold to the homeowner next door. The X flood zone parcel is located less than 350 feet from Veteran’s Memorial Park, which includes the nearest gulf access as well as pickleball courts, a dog park, and an amphitheater. The HOA does not allow rentals, which is the reason for the discounted price on a second-tier lot.
121 15th St
A 75×100, .17-acre vacant lot in Mexico Beach closed at $135,000 at about 90% of its $149,900 asking price. After 52 days on the market, a cash buyer was able to secure a deal on the property. While the lot is not too far from the beach, the pricing is mainly affected by the traffic that comes with being on 15th St. It is one of the busier streets in Mexico Beach, and the lot is next to the canal and a guardrail, making entering and exiting tough.
Area Info/Updates
As many of you may know, this week, former Mayor and Al Cathey passed away. Mr. Al dedicated most of his life to helping this community, and there is no doubt that Mexico Beach would not be in the spot it is in now without his work in the time after Hurricane Michael. I wanted to share this excerpt from the Mexico Beach Tourist Development Council(TDC).
“His devotion to and love for Mexico Beach never wavered. He loved this beach. You could find him at his hardware store, participating in the 5K fun-runs, fishing, or on the sidewalks riding his bike or taking a walk. There was not a place within Mexico Beach that Mr. Al did not know, see, or touch in some way.
His commitment to ensuring that Mexico Beach thrived was always evident. Mr. Al was an amazing man that help guide our city and tourism council through many prestigious and challenging times, especially after Hurricane Michael. Always finding the good in every decision and direction.
Mr. Al loved Mexico Beach more than any other place. It was home. It was where he helped grow his family’s business, and where he raised his children and grandchildren. Mexico Beach is part of Al Cathey, and Al Cathey is a part of Mexico Beach.”
We are all praying for the Cathey family during this tough time.
That’s all for this week’s market update. Thanks for reading!
