by Murray Balkcom, Realtor (The Premier Property Group)
South Walton, FL- Home sales in the beach-side resort town of WaterColor, FL set records in 2011. Looking at historical sales data compiled by the Emerald Coast Association of Realtors (ECAR), we find that the year-to-date quantity of home sales in WaterColor, FL through the end of April 2011, have outpaced sales of all other years through the first four months. Eleven of this year’s home sales in WaterColor came in the month of April. Year to date, 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 the sales in WaterColor in 2011, through the end of April.
What is driving these record sales? Price. It is that simple. Home prices in WaterColor, FL are down substantially, and that motivates buyers. Some of these sales which are bringing down average and median prices are in the last phase to be developed, Phase IV, located on the east side of Hwy 395. So, it wouldn’t be fair to say that all prices in WaterColor are falling. Many of these 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 boasts 1,140 custom-built residences, home sites, and multi-family dwellings.
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If you, or someone you know, are interested in buying or selling property in South Walton, please contact Murray Balkcom, GRI, Realtor with The Premier Property Group, or go to dreamBIGproperties.com and search for properties on your own to get an overview of the market and currently listed properties.
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Murray Balkcom is a licensed Realtor with The Premier Property Group, serving South Walton, including the beach communities of Alys Beach, Rosemary Beach, Seacrest, WaterSound, Seagrove, Seaside, WaterColor, Grayton Beach, Blue Mountain Beach, Santa Rosa Beach, Dune Allen, and Point Washington.
All sales data referenced above is provided by Emerald Coast Association of Realtors and is thought to be accurate but not guaranteed.