This week kicked off the start of the Spring Break season, although you wouldn’t think it, as it was a cool 49° this morning. Despite the chill, the Mexico Beach/St. Joe Beach/WindMark Beach market stayed active, with 23 new listings hitting the market, split between 12 homes and 11 lots. Contract activity was more modest this week, with 5 properties going under contract, while sellers made 16 price reductions as they continue to adjust to align with buyer expectations. We also saw 5 sales close this week, including a $700,000 newer-construction home in Mexico Beach that moved in just 15 days. Let’s dive into this week’s sales.
405 Arizona Dr
A newer construction home in Mexico Beach closed this week at $700,000 after just 15 days on the market, selling for about 92% of the original asking price. Built in 2024, the 1,600 sqft home sits on a .24-acre lot in the X flood zone and sold fully furnished at roughly $437.50 per sqft. The property also features a heated saltwater pool and a large 36×24 barn. This is yet another 4th block home in Mexico Beach to sell within one month on the market, making it the 3rd one in the last 12 months.
1302 Hwy 98 2E
A 3BR/2BA corner unit condo at The Club at Mexico Beach closed this week at $417,500. Selling at roughly 93% of its $449,000 list price, the 1,553 sq ft unit lines up with the city’s access point, protecting Gulf views from future obstruction. This condominium sold after just 16 days on the market, yet another quick sale in the complex(Unit 1F sold in Nov. 2025 in 10 days). This sale gives a realistic look at the condo market and the challenges it has faced. Unit 2G, the same floor plan, two units over, closed for $615,000 in 2023, almost at $200,000 difference in price.
112 Conch St
A .25-acre lot in Sunset Village closed at $78,000 after 70 days on the market, selling at roughly 91% of its original $89,000 list price. The X flood zone lot sits on a cul-de-sac and is subject to HOA restrictions, including a 2,000 sq ft minimum build requirement and a prohibition on short-term rentals. Despite the rentals, this is one of the best neighborhoods for ROI, with lots selling sub $100k and newer homes selling for $555k-$875k. This lot will eventually hold a spec home that will be hitting the market in the coming months.
870 Backwater Rd
A fully furnished Kennedy model in WindMark’s Creekside section closed at $495,000 after just 12 days on the market. The 4BR 3BA home was sold when the buyer assumed the previous owner’s mortgage, a very uncommon sight in the market due to the protection of new mortgages. The very quick and nearly full-price sale is a good example of the attraction to assumable financing, when on the table.
Area Info/Market Updates
While this may be just outside of the MB/SJB/WMB area, I wanted to highlight some big news coming to Gulf County and the Forgotten Coast. On March 3rd, the State of Florida announced last week that more than $13 million in Job Growth Grant funding will be coming to projects in Bay and Gulf County, with a major portion focused right here in Gulf County. The funding includes $6 million toward the development of a floating dry dock and shipyard repair facility, which is expected to help retain existing maritime jobs while also creating new ones, along with $2.25 million to the City of Port St. Joe for road and utility improvements that will support the development of 177 workforce housing units. Governor Ron DeSantis said the investments are intended to “create hundreds of good jobs and attract investments” to the area, while Port St. Joe Mayor Rex Buzzett noted that the housing project is something the community has “been trying to get for a long time.”
I know this brings a lot of change and uncertainty, but it opens a lot of doors for further opportunities within the county and into Mexico Beach, whether that be commercial infrastructure or affordable housing for all. There seems to be a possible Maritime Academy, which Gulf County Commissioners are pushing for, that will be open to Gulf and Franklin County students. This facility would provide a great learning opportunity for some of these kids and will work in tandem with Haney Tech, which will work on getting the kids the proper certifications.
That’s all for this week’s market update. Thanks for reading!
Carter Dorsch