Forgotten Coast Real Estate Market Report Week of May 4 – 10, 2026

Mother's Day weekend slowed the coast down, which is typical for this stretch of May. Real estate goes quieter when families are together. The week behind us posted the lightest closing pace of the spring. The week ahead looks different. Twenty-one homes are under contract, the most we have logged in months.

What is the Forgotten Coast Real Estate Market doing this week?

Nine closings, all of them above $360,000 and three of them above $850,000. That is the shape of this week. The middle and lower price points took a breather, and the high end stepped forward. It is the kind of split that happens during a holiday weekend, and the under-contract count tells us the slowdown is a one-week thing, not a turn.

Active residential inventory by area.

Port St. Joe

Port St. Joe posted zero closings this week, the first goose egg the town has put up all spring. Active inventory ticked up six listings week over week to 107. Four homes are under contract, which is the same number we had heading into last week, so the pipeline is intact even if the closings table is empty.

Last week Port St. Joe was the busiest engine on the coast at 3.9 months of supply. This week the math gets blurry because you cannot divide by zero. What I can tell you is that nothing in the underlying picture changed. The buyers who were active in Port St. Joe two weeks ago are still active. The price points still work. Mother's Day weekend hit the closing calendars hard, and most of the homes that were on track to close pushed to next week.

Cape San Blas and South Gulf

The Cape also recorded zero closings this week. Active inventory sits at 140, up slightly from 138. One home is under contract. That is the thinnest pipeline of any area on the coast right now and the part that bears watching.

The Cape has been a deliberate, patient market all spring. The high-end buyer shopping there is not the buyer who closes a holiday week. They are looking, walking properties, building their list. The activity is real even when the closings table is blank. Last week the Cape produced two land closings including a $975,000 lot, which is a meaningful signal of long-term confidence. Combine that with one residential under contract and the question for the next two weeks is whether the spring closing window pulls forward or pushes into June.

Average sold price by area.

St. Joe Beach and Mexico Beach

The St. Joe Beach and Mexico Beach corridor carried the volume this week. Six closings against 232 active listings, with a sold range running from $367,000 all the way up to $2.55 million. Average sold price on the week was $930,833. Eleven homes are now under contract, more than any other area on the coast.

That $2.55 million sale is the kind of number that tells you something specific about who is buying right now. Premium beachfront in the corridor is moving, and it is moving at price points that match where the high-quality post-Michael rebuilds have landed. The corridor's depth keeps surfacing strength. There is a buyer for the $367,000 cottage and a buyer for the $2.55 million beachfront in the same five-mile stretch, and both showed up in the same week. Inventory at 232 is the highest on the coast, but the conversion pace is among the strongest.

St. George Island

St. George Island had a quietly strong week. Three closings with a sold range of $555,000 to $1.05 million and an average of $870,000. Active inventory dropped to 121. Five homes are under contract.

The island's price floor moved up this week. Last week's island sales averaged $432,500. This week they doubled to $870,000. That is a one-week mix shift, not a market move, but it is worth flagging because it indicates the higher-end island inventory is starting to clear. Vacation rental performance has held up well there, and that continues to draw investor buyers willing to write at the upper end of the island's range. Memorial Day is two weeks out, and historically that is when island closing volume tends to firm up.

Weekly residential closings by area.

The Land Market

Three land sales again this week, matching last week's count. The St. Joe Beach and Mexico Beach corridor added a $495,000 closing. The island closed two parcels at $80,000 and $125,000, both modest, both useful indicators that the small-lot end of the island market is alive. The Cape produced no closings this week after last week's two-sale showing, but the Cape's two land under-contract holds the pipeline.

Across the coast, 381 land parcels are still active. Five are under contract. Months of supply for land sits at 29.3, basically unchanged from last week. The shape of the land market right now is consistent: small, steady volume at the lower end, an occasional six- or seven-figure sale at the high end, and a lot of inventory waiting for the right buyer. If you have been holding a buildable lot and watching the data, the cleanest read is that real buyers are showing up, just not in large numbers.

The land market, area by area.

What the Pace Says

Nine closings projects to roughly 39 residential closings per month at this week's clip, which is the lightest pace we have logged this spring. Months of supply on the coast jumped from 6.8 to 15.4. That number looks worse than the underlying market actually is. Twenty-one homes under contract is the strongest pipeline reading in months, and most of those contracts close in the next two to four weeks. Translation: this week is a holiday-weekend dip, and the next two weeks will reset the average.

For sellers, the message is the same one I delivered last week with one small addition. Pricing accuracy is still the entire game, and Mother's Day weekend is not a referendum on your listing. For buyers, this is one of the cleanest windows you will see for the rest of the spring. The closing table looks slow, but the under-contract pipeline tells you the rest of the market sees what is coming. Memorial Day weekend lands in two weeks, and after that the urgency shifts. If you have been circling a property, this is a useful stretch to make a decision.

The Local Picture

This weekly Forgotten Coast Real Estate Market Report covers Port St. Joe, Cape San Blas, Mexico Beach, St. Joe Beach, and St. George Island, including residential and vacant land activity. Each of those communities has a different rhythm, a different buyer profile, and a different story behind its numbers. Reading the coast as one market misses where the actual opportunities are. Reading it as five distinct markets, which is what it really is, gets you to a useful answer.

Food For Thought

Holiday weekends always pull a layer off the closing calendar. Mother's Day pulled more than usual this year because the calendar lined up with the front end of the early summer rental confirmation window, which kept agents on the phone instead of at the closing table. That is not a market signal. That is a logistics signal. The buyers are still here. The contracts are still moving. Twenty-one homes about to close in the next few weeks will rewrite the headline numbers fast.

What is worth paying attention to is the texture underneath. The Cape closed zero homes but produced strong land activity last week. Mexico Beach corridor traded at $2.55 million. The island doubled its average sold price week over week. None of those are quiet signals. They are the high-end buyer telling the rest of the market what they see. If you are watching from the sidelines, that is the data you want to read carefully.

Questions about your property or your next move? Call or text me at (850) 340-1213.