Forgotten Coast Real Estate Market Report Week of July 20 – 26, 2026

Nine Closings in the Mexico Beach Corridor, and a $5.3 Million Sale on the Cape

Late July settles into a rhythm out here. Storms build over the water most afternoons, roll through around four, and leave everything rinsed and steaming by six. The rentals are full. Parking at Beacon Hill is gone by ten. And underneath all that summer noise, the market put together its second solid week in a row.

Nineteen homes closed across the coast, two more than last week and the strongest weekly count we have logged in at least five weeks. What changed was where they closed. The Cape carried the headlines a week ago; this time the run of highway between St. Joe Beach and Mexico Beach did the heavy lifting.

Two weeks of steady closings is worth more than one. Coast-wide, 615 active listings against 19 sales pulls months of supply down to 7.5, the tightest read we have posted in at least five weeks. Inventory barely budged, dropping from 618 to 615, so this isn't a story about listings disappearing. It's a story about buyers finally clearing them at a normal pace.

The average sale landed at $980,177, pulled upward by the Cape. Look past that number. The spread from $220,000 to $5,300,000 is the honest picture, and it tells you the coast is transacting across every price band right now instead of only at the top.

Cape San Blas and the South Gulf

Fewer sales, bigger checks. Cape San Blas closed 4 homes this week against 147 active listings, ranging from $1,295,000 to $5,300,000 and averaging $2,323,750. That average is the highest any area has posted on the coast in weeks, and the $5.3 million sale sets a marker at the very top of the market.

The number I would watch, though, is the 5 homes under contract, up from just 2 last week. Contracts written now show up as closings in August. At the current pace the Cape is carrying about 8.5 months of supply, which still leaves buyers room to negotiate on anything that has been sitting.

Port St. Joe

Town posted 4 closings against 100 active listings, running from $220,000 all the way to $1,300,000 with an average of $542,725. That $220,000 sale matters more than its size suggests. It is proof there are still real entry points in Port St. Joe for buyers who want a house in town rather than a rental on the water.

Port St. Joe is also the tightest market on the coast right now at roughly 5.8 months of supply. Only 2 homes sit under contract, so the pipeline is thin, but the turnover has been consistent week after week.

St. Joe Beach and Mexico Beach

Here's the week's real story. The corridor closed 9 homes, tripling last week's three, with sales from $344,900 to $1,100,000 averaging $506,495. Another 9 are under contract. That is the deepest pipeline on the coast by a wide margin.

Inventory here is the largest anywhere at 252 active listings, and it finally started moving. Nine closings puts this corridor at about 6.5 months of supply, second tightest on the coast, which would have sounded far-fetched a month ago. Mexico Beach has been rebuilding quietly for years. This is what it looks like when the patience pays off.

St. George Island

The island stayed true to form with 2 closings at $699,000 and $1,900,000, averaging $1,299,500 against 116 active listings. Low volume, high price points, buyers who take their time and know exactly what they want.

That said, the island is the loosest market on the coast at roughly 13.4 months of supply, with a single home under contract. If you are buying on St. George, you have leverage. If you are selling there, price is doing all the work.

The Land Market

Land went quiet. After 8 sales last week, only 2 lots closed across the entire coast, both in the St. Joe Beach and Mexico Beach corridor at $200,000 and $205,000. Cape San Blas sat on 148 active parcels with nothing closed. Port St. Joe held 38 lots, St. George Island 72, both with no sales. Coast-wide that leaves 396 active parcels and just 4 under contract.

Land has always been the lumpier half of this market, and one slow week doesn't mean much on its own. But the contrast with homes is worth sitting with. Buyers right now want something they can walk into.

What the Pace Actually Means

Run the week forward and the residential picture holds up. Nineteen closings projects to roughly 82 homes per month. Against 615 active listings, that is 7.5 months of supply, down from 8.4 a week ago and a world away from the 20-plus months the coast was staring at earlier in the month. Still a buyer's market by the textbook, but a functioning one.

Land is a different animal entirely. Two sales projects to about 9 lots per month against 396 active parcels, which pencils out to roughly 45 months of supply. That number will swing hard the moment land sales pick back up, so read it as a snapshot rather than a trend. Either way, lot buyers have every bit of negotiating room they could ask for.

For sellers, the takeaway from two straight weeks of numbers is simple. Realistically priced homes are closing. Homes priced on last spring's optimism are not. For buyers, the corridor between St. Joe Beach and Mexico Beach is where inventory and momentum are meeting at the same time.

This weekly report tracks residential and land activity across Port St. Joe, Cape San Blas, Mexico Beach, St. Joe Beach, and St. George Island, giving buyers and sellers a real-time read on where the Forgotten Coast real estate market stands each week.

Key Metrics Summary

If you're thinking about buying or selling this summer and want a straight read on what the data means for your situation, reach out. No pressure, just a real conversation about the market from someone who lives and works here.