April 9, 2015 by Murray Balkcom, Broker | Realtor with The Premier Property Group
Inventory levels for homes in WaterColor are low, with only a 7.6 month supply, and that is keeping prices up and total sold volume on the high end for March 2015. Sales of homes in WaterColor were the second-best March on record, according to Emerald Coast Association of Realtors, with the total sales volume being $11 million. The best March was 2012, with $11.6 million in sales. Compared to March 2014, the dollar volume of sold homes in WaterColor jumped 98%.
During 2013 and 2014, many of the homes sold were in Phase IV, which typically has lower price points so we saw lower median sold prices. In March 2015, we more of a mix of sales from the other phases with higher price points. Needless to say, the median sold price ($1,035,000) in March2015 jumped 63% compared to March 2014.