Home Sales in WaterColor Breaking Records in 2011
May 10, 2011 by Murray Balkcom
Home sales in WaterColor through the end of April are higher than they've ever been! Looking at data from the Emerald Coast Association of Realtors (ECAR), we see that year-to-date home sales in WaterColor have outpaced sales of all other years through the first four months. Eleven of this year’s sales happened in April.
We have more than doubled last year’s numbers, with a growth of more than
113%, and far surpassed our market’s peak year of 2005. According to ECAR, The Premier Property Group was responsible for 37.5% of WaterColor sales this year.
What is driving these record sales? Price. It's that simple. Home prices in WaterColor are down substantially and that motivates buyers. Some of these sales which are bringing down average and median prices are in WaterColor phase IV, located on the east side of Scenic Hwy 395 near Publix. So it wouldn’t be fair to say that all prices in WaterColor
are falling. Many of the homes in Phase IV are entry-level resort
homes, more modest in size and finishes compared to the other phases of WaterColor.
WaterColor home sales set records not only in quantity of sales, but also in total dollar volume sold, during the first four months of 2011. Compared to the first four months of other years, WaterColor homes topped the market’s peak year of 2005, with sales through April 30, 2011 totaling more than $32 million, a 72% increase over last year.
WaterColor is nestled between the shores of Florida’s fabled Emerald Coast and the
banks of a rare coastal dune lake (Western Lake) . With 499-acres, this
southern coastal resort and residential beach community delivers the
best of Florida and Southern hospitality to your family.
Pathways and parks meander from the Gulf to the lake around brick-paved streets,
water gardens, well-appointed cottages, homes, and residences. With over
half of the community dedicated to green space, the habitat is natural.
WaterColor was master-planned by acclaimed architect, Jaquelin Robertson, on land held by the St Joe Company since 1927. WaterColor, FL has 1,140 custom-built residences, home sites, and multi-family dwellings.
Murray Balkcom is a licensed Realtor with The Premier Property Group, serving South
Walton. All sales data referenced above is provided by Emerald Coast
Association of Realtors and is thought to be accurate but not guaranteed.