A home in Alys just closed at $1.35 million or about $569 per square foot. Although only a few houses have sold in Alys over the last 2 years or so, those that have were priced very high compared to many of the high end communities along 30A. Prices were bound to come down due to the lack of sales activity in this development and the "unusual" nature of the architecture. Alys will appeal to some, but it will not have the broad appeal of a Watercolor, Watersound, Seaside or Rosemary (and they will NEED broad appeal to sell the 800 plus planned units). I suspect this in the first in a long line of much reduced selling prices in Alys. The prices must come down for EBSCO to begin moving any appreciable inventory.
