Watersound & Watercolor Sales

[Smiling JOe]

In comparison to the larger area of SoWal, not including the area from Sandestin to Destin, Here are the average sale prices per year for Single Family Detached homes in WaterSound and WaterColor (sorry, but 2004 not available)

2005- $1,754,294 - total sales for the year- 38
2006- $1,585,993 - total sales for the year- 37
2007- $1,361,830 - total sales for the year- 65

Note the almost doubling of the quantity of sales from 2007 compared to 2006, as the price has decrease and the inventory has increased.

 

[SHELLY]

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
2005- $882,860
2006- $1,016,281
2007- $937,532

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.

Can you attach number of units to the info above?


.

 

[Smiling JOe]

Thanks, Shelly. I edited the post to include quantity of sales. Interesting reversal between the general area and the narrowed focus of WS and WC. In the general area, quantity of sales has decreased from 2005, yet avg sales price has increased. It is just the opposite for WS and WC in particular.

(BTW, the general area results in the first post include the sales in WC and WS. )

 

[Busta Hustle]

one other tidbit some may find interesting for watercolor is that the number of YEARS it would take to sell out the listed inventory went from a little over 2 in 2005 to a little over 4 in 06 and 07...

 

[Sandcastle]

This is somewhat off the subject, but does anyone have information about sales in Alys Beach? We love to have coffee or wine at the Fonville Press and show the area to people visiting us. Some one always asks about the price of homes and lots.

 

[fisher]

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.

I believe this thread is asking about WC and WS. In Watercolor and Watersound, the trend is definitely apparent. But, to address your point, across Walton County, house prices are about where they were in 2005, condo prices are about where they were in 2005 BUT lot prices are down by about 35% BELOW 2004 prices. A bit of a mixed bag with raw land prices way, way down versus 2004 and homes and condos at 2005 levels across Walton County.