This week brought a lot warmer weather, and the market continued its steady pace in the Mexico Beach/St. Joe Beach/WindMark Beach area, with 17 new listings hitting the market, split between 11 homes and 6 lots, giving buyers fresh options across multiple price points. Contract activity remained pretty strong, with 8 properties going under contract this week, which brings the count to over 30 properties under contract in our area. Sellers made 8 price reductions as they work to stay competitive in a market with new inventory. We also saw 6 sales close this week, highlighted by a $2.4 Million canalfront townhome. Let's dive into this week's sales.

100 42nd St A

This brand-new townhome on the beachside of the Mexico Beach Canal sold for $2,400,000 this week, which is a record price, almost $1M higher than any previous canalfront home sale. The 5BR/4.5BA, 2,684 sq ft unit is a part of a quadplex, sits on the original site of the "Top of the Gulf" restaurant, and includes a deeded boat slip with 15' of clearance. At $894 per square foot, this marks the highest price-per-square-foot sale we've seen in Mexico Beach in recent memory. 

Link to Listing

300 Hwy 98

A 50x100’ lot on the dedicated beach of Mexico Beach closed at $545,000 on Monday, after going under contract relatively quickly, selling at 99% of its $549,000 asking price in just 51 days. The .11-acre Gulf-facing lot sits directly on a corner and is already cleared. This is just the 4th sale on the dedicated beach in the past 3 years. 

Link to Listing

243 Salt Creek Ln

DR Horton closed another Salt Creek townhome this week at $280,000 after 19 days on the market, selling at roughly 95% of its $294,900 list price. The 3BR/2.5BA, 1,460 sq ft unit sold at $192 per square foot, and showed that the buyers obtained FHA financing, which makes another sale that fulfills St Joe Company’s desired purpose of the neighborhood for primary use.

Link to Listing

208 5th St

This .19-acre second block lot changed hands once more, after selling once in 2024, this time closing at $169,000. The Mexico Beach parcel closed at full list price, as the seller was likely trying to get his money back from the original purchase at $164,900(2024). The 75x112 lot sits in the X flood zone with a short and clear path to the Gulf access, making it an attractive option for buyers wanting to be in the heart of Mexico Beach.

Link to Listing

Lot 12 Gulf Terrace Ln

After almost a year anda half on the market, this vacant lot on Gulf Terrace Ln in St Joe Beach closed for $100,000. Selling at roughly 84% of its $119,000 list price, the .25- acre lot sold to a financed buyer. The big seal breaker with this lot is the distance and path to the beach, which is long and somewhat windy, making it unattractive to a lot of potential buyers.

Link to Listing

161 Dancing Moon Ln

An improved lot with a pole barn in St Joe Beach closed at $180,000 after an extended market time, closing at roughly 82% of its original listing price. While the .25-acre property sat on the market for 404 days, it did feature a pole barn, screened living area, hot tub, and portable washer/dryer. The significant discount reflects the uncertainty around the pole barn, as though the amenities are nice, you cannot use an RV or camper on the parcel, due to the Gulf County RV ordinance.

Link to Listing

Area Info/Updates

There is not too much to report this week, other than your usual city updates. The Gumbo Festival had a great turnout, far bigger than previous years in my eyes. The owners of Point Break Pizza(Corner of S 36th St and Hwy 98) will soon have a second trailer that will share space with the pizza trailer. We are not aware of the name yet, but the trailer will serve doughnuts. BGN Contractors gave us a slight update and said that they are still shooting for a May completion date on the Amphitheater at Parker Park, and the 15th St bridge has a firm delivery date of March 23rd. We are very excited for the incoming doughnut trailer!

That’s all for this week’s market update. Thanks for reading!