St. Augustine Real Estate Market Approaches Key Opportunity, Says Thomas Quigg

Written by:

Rudi Davis

Date:

27 Oct 2025

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The St. Augustine real estate market is nearing a pivotal moment that buyers should consider, according to Thomas Quigg, a licensed residential real estate agent with Coldwell Banker Premier Properties. In a recent interview, Quigg shared his perspective on how current market conditions may represent the best buying opportunity in years.

“I guess my opinion is we’re likely at our bottom, and, you know, we’re close to it. So I feel like, as far as being a buyer, this is, you know, time to strike,” said Quigg, who has been a top producer at his 90-agent office and earned second place in the Best of St. Augustine People’s Choice Award for three consecutive years. The St. Augustine market has experienced a measured correction compared to other regions, with Quigg noting that North Florida did not see the dramatic price increases that defined South Florida and the West Coast during the pandemic.

Quigg points to several factors shaping the current landscape. Interest rates have been the primary force shifting the market. “I watched the mortgage rates. I feel like that’s, you know, kind of killed our market, you know, turned it into a buyer’s market,” he explained. Economic pressures have created opportunities, with Quigg observing that “the economy’s slowing down, and people are the middle class, lower class, are getting broke, essentially.”

Political stability also influences market confidence. “Political stuff always affects it. It’s nice when it’s calm, we start to heat up in the real estate,” Quigg noted, drawing a connection between broader economic indicators and local market performance.

For investors, Quigg highlights oceanfront properties as the most attractive option. “I’d probably invest in oceanfront property around here before it’s untouchable,” he recommended, emphasizing the limited availability of coastal land. “There’s very few lots and, yeah, it’s, the price is, it’s it’s only going up. There’s nowhere else to go.”

The luxury market, particularly homes in the $1-3 million range, has remained stronger than the mid-range segment. “It’s hotter than the mid range,” Quigg observed, although he noted that St. Augustine luxury does not reach the price levels of Naples or West Palm Beach.

Quigg advises buyers to act within the current window of opportunity. He believes that as soon as economic conditions change and interest rates decrease, the current buyer advantages will fade. “Once some of that sets in, I you know, the rates will drop, the prices are going to stop coming down, and then they’ll they’ll start to go back up,” he predicted.

Properties without HOA fees are performing better than those with association costs, which have increased by 30% or more. The condo market has faced more difficulty, while barrier island properties have shown stronger performance.

Quigg projects that the next six to twelve months will be a crucial period for buyers. “The next from now to the next six to 12 months is probably going to be the best time to buy in our area for the near future,” he stated. His outlook is based on the convergence of economic factors already underway, including the likelihood of official recession recognition and subsequent monetary policy changes.