A $40,345 price cut on a finished, move-in-ready home is not a rounding error, and it is the reason this North Port listing is worth a second look. 2679 Averland Loop in Watercress Cove started at $383,245 and now sits at $342,900, an 11% reduction that makes it the single largest discount on finished new-construction inventory across Tampa Bay as of November 8, 2026. At $174 per square foot for 1,970 square feet, 3 bedrooms, and 2 baths, the number is real. The question is why it took 653 days on market to get there, and what that tells a buyer sitting down to write an offer.
What Does an 11% Cut on a Finished Spec Home Actually Signal?
It signals the builder, Adams Homes, has a carrying cost problem on this specific unit and wants it off the books. A finished home that has sat for 653 days is not a home with a defect nobody can find. It is a home with a price that was wrong for 653 days. Builders typically hold firm on base pricing and negotiate through incentives instead, things like closing cost credits or rate buydowns. When they cut the sticker price directly and by double digits, it usually means the incentive route was tried first and did not move the house. Buyers should read that as leverage, not as a red flag on the structure itself. For more on how builders typically prefer to negotiate, and why a straight price cut is the exception, see this breakdown of closing cost credits and rate buydowns on new construction.
What's Still Negotiable Beyond the $342,900 Sticker?
The price cut does not mean every other line item is locked. On a home that has been sitting this long, it is reasonable to ask Adams Homes about closing costs, a rate buydown on top of the reduction, or move-in allowances for items like blinds or appliances upgrades the listing description does not spell out. A spec home that has aged past two years on market has less urgency protecting it than a home at week two of its listing. That is a different negotiating position than a brand-new release in the same community, and Barrett treats it that way when he writes offers on aged spec inventory.
The HOA fee here is $84, which is low for a new-build community and worth confirming hasn't changed since the MLS entry. The tax figure in the listing, $1,207 annually, is almost certainly calculated against the bare lot rather than the finished 1,970 square foot home. Watch for this specifically: counties reassess new construction after the certificate of occupancy, and the tax bill on a finished home routinely jumps well past what's showing in the listing. Anyone running numbers on this house should budget for a higher annual tax figure after the first reassessment cycle, not the $1,207 currently on file.
What Should a Buyer Check Before Writing an Offer on a Finished Spec?
A home that sat 653 days raises one specific question: what happened during that time, and was anything deferred. Finished spec homes sometimes sit because of slow-moving punch list items, builder staffing gaps, or simply a community that's slower to sell than projected. None of that shows up in square footage or price per square foot. It shows up in a walkthrough and in the inspection report. Before writing an offer on this one or any aged spec home, a buyer should walk the house in person, not rely on photos, and schedule an independent inspection even though it's new construction and even though the builder has their own closeout process. Barrett's guide to what a new construction inspection in Tampa Bay should actually cover goes through the specific punch-list items that tend to get missed on finished spec homes sitting past the one-year mark.
The listing description highlights tile flooring throughout the main living areas, carpet in the bedrooms, and granite countertops in the kitchen and both bathrooms. The floor plan is a split plan, meaning the owners suite is separated from the secondary bedrooms, which is a layout a lot of buyers ask for specifically and one builders don't always offer at this price point. That's a genuine selling point. The trade-off is the 653 days itself. A home this far past a typical absorption window in a new community is either overpriced for its market for a long stretch, slower to generate interest because of lot location or elevation within Watercress Cove, or both. The listing doesn't specify which, and that's a fair question to put directly to the listing agent or builder rep before getting too attached to the number.
North Port inventory moves differently than the rest of Sarasota County, and buyers comparing this house against other options in the area can see what else is on the market right now at homes for sale in Sarasota County. For buyers who want something they can close on quickly without waiting on a build timeline, the broader move-in ready new construction list across Tampa Bay is worth a scan too, since price cuts like this one tend to be the exception rather than the rule.
FAQ
Is $342,900 a good price for 1,970 square feet in North Port? At $174 per square foot, it's competitive for the area, but the number only matters in context of what else is available in Watercress Cove and nearby North Port communities right now, and that context changes week to week.
Why did it take 653 days to sell this home? The listing data doesn't say directly, and that's exactly the question to ask the builder rep before writing an offer, since it could reflect lot location, timing in the community's sellout, or simple overpricing at launch.
Will the property taxes really go up after I close? Likely yes, because the $1,207 figure currently in the MLS is typically assessed against the land alone, and county reassessment after a certificate of occupancy usually produces a meaningfully higher bill on the finished home.
Can I still negotiate after an 11% price cut? Often yes, since a price cut this size on an aged listing usually means the builder still has room on closing costs or move-in incentives, particularly compared to a home that just hit the market.
Do I still need an inspection on new construction? Yes, and especially on a spec home that's been finished for close to two years, since punch-list items and builder closeout quality can vary even on homes built to code.
Anyone serious about this specific address, or about comparing it against other finished inventory in North Port and the rest of Sarasota County, should call Barrett Henry at (813) 692-9099 before the number or the availability changes again.
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