Smiling JOe
SoWal Expert
No shot, Sherlick!
Someday I'd love to have a nice candlelit dinner with you over the plat books in the record room...sigh...
Record room? I have plat book copies in my house!
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Watersound & Watercolor Sales
- Thread starter Beachbummette
- Start date
Record room? I have plat book copies in my house!
NoHall
hmmmm......can't remember
Smiling JOe
SoWal Expert
They are also available online, but not in handy-dandy book form like my copies. Of course mine are a wee- bit old, coming from one of the two original Real Estate Brokerages in Destin, so they don't have all of the updates.
NoHall
hmmmm......can't remember
That just killed the mood altogether...I think I have a headache now...
After getting that email from St. Joe, I've been waiting to see the sales on the Walton Property Appraisers website. I'm shocked to see that all of the sales figures for the 6 December records I found we significantly below the previous sale. Not what I expected at all...
360 RED CEDAR WAY
12-20-2007 833,000
01-28-2005 1,250,000
09-03-2004 889,000
12 THICKET CIR
12-20-2007 1,005,000
03-25-2005 1,500,000
1253 WESTERN LAKE DR
12-05-2007 762,500
03-28-2005 1,350,000
03-15-2004 715,000
132 SANDY CREEK DR
09-21-2007 930,000
05-19-2006 1,018,200
LOT 5 CERULEAN LANDING AT WATERCOLOR
12-19-2007 550,000
08-30-2005 925,000
LOT 20 WATERSOUND BEACH
12-06-2007 950,000
09-22-2005 1,791,000
09-25-2003 756,500
360 RED CEDAR WAY
12-20-2007 833,000
01-28-2005 1,250,000
09-03-2004 889,000
12 THICKET CIR
12-20-2007 1,005,000
03-25-2005 1,500,000
1253 WESTERN LAKE DR
12-05-2007 762,500
03-28-2005 1,350,000
03-15-2004 715,000
132 SANDY CREEK DR
09-21-2007 930,000
05-19-2006 1,018,200
LOT 5 CERULEAN LANDING AT WATERCOLOR
12-19-2007 550,000
08-30-2005 925,000
LOT 20 WATERSOUND BEACH
12-06-2007 950,000
09-22-2005 1,791,000
09-25-2003 756,500
Sarah Moss
Beach Lover
Wow, those numbers are interesting. Please forgive my ignorance, but does it mean anything besides the sellers were desperate?
Why does it surprise you that current sales prices are lower than prices paid in 2006 and 2005? Hasn't that trend been apparent for quite some time now?
Prices have fallen back to levels paid in 2004 in many cases. The real question is--will they fall back to 2003, 2002 or earlier levels?
Watercolor actually had much better sales activity than any other community along 30A in 2007. Based on the activity in Watercolor during 2007, it does appear that prices began to stabilize in 2007 after falling dramatically (with the exception of some fire sales by unfortunate owners). Phase I houses have been holding steady in the general range of $575 to $600 per square foot. Phase II prices seem to generally be in the $400 to $450 range with Phase III being in between the other two. Standard Phase II and Phase III lots (non waterfront or unusually large or backing up to hwy 395) seem to be stabilizing in the range of $300k to $400k after peaking at over $700k in many cases.
One reason Watercolor likely had more activity in 2007 than other locales is that some owners began to get realistic about pricing. In Watersound, Alys, and Rosemary, it appears that owners still haven't gotten the message that the market is trying to send.
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NE SoWaller
Beach Lover
I live in Nebraska, but love coming down to the area. We usually stay in Seaside, but I really like the homes in the WC area. Can someone contact me on how I would go about looking for a place? I've always wanted to look around, but have never had the guts. Can someone help direct me? If things are like this I may need to jump into the market.
I'll be down between the 7th and 10th of Feb.
Love SoWal
I'll be down between the 7th and 10th of Feb.
Love SoWal
Matt J
SWGB
I live in Nebraska, but love coming down to the area. We usually stay in Seaside, but I really like the homes in the WC area. Can someone contact me on how I would go about looking for a place? I've always wanted to look around, but have never had the guts. Can someone help direct me? If things are like this I may need to jump into the market.
I'll be down between the 7th and 10th of Feb.
Love SoWal
Is your PM box full yet?
Smiling JOe
SoWal Expert
I'll share some sales numbers from Emerald Coast Association of Realtors:
All prices are average sales prices for the year
Detached Single Family in SoWal, less area from Sandestin to Destin
2004- $757,173 - tot # of sales - 827
2005- $882,860 - tot # of sales - 619
2006- $1,016,281 - tot # of sales - 267
2007- $937,532 - tot # of sales - 361
Is the trend really apparent as you say? Yes, in a few cases, prices are back to 2004, but in most cases, they are closer to 2005 prices, on average. I'm sure there are some individual properties which will take us back to 2003 prices, but on average, I think the trend is not so apparent, if we are looking the big picture of sales. Maybe areas like WaterColor and WaterSound, just ran up in price more quickly than other areas, hence a bigger drop in WC and WS, when compared to other properties in SoWal.
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