The Watercolor Real Estate market continues to be one of the strongest along Hwy 30a in South Walton as we end 2013 and head into a new year. As the real estate market continues to rebound in both price and activity, we are seeing the planned communities that are rich in amenities leading the way. Inventory levels have dropped almost 50% in Watercolor over the past 2 years making it a sellers market, however there are still a few ” hidden gems”. With only 7 homes available under $1 Million dollars, it is apparent that demand has driven inventories down and , subsequently, prices in Watercolor are on the rise.
Over the past 2 years, we have seen available lots in Watercolor almost completely disappear. As of the date of this post, there are only 6 lots listed for sale in Watercolor at prices significantly higher than 2 years ago when there were almost 60 lots available from $275,000.00 and up. The largest percentage of recent purchases here in Watercolor have been by builders buying lots for new home construction.
We are experiencing a spike in the new construction of “spec” homes being built in Watercolor. This is a huge indication of the real estate market becoming healthy and robust once again especially in the upscale planned development communities such as Watercolor. Many of these “spec” homes are going under contract even before being completion!
I mentioned that there were some “hidden gems” to be found in Watercolor despite the market increase in prices. The combination of savvy investors/buyers and a really knowledgeable real estate agent creates opportunity to purchase a property at a good price that might need some updating/renovation that will create new value and therefore make it a good investment. I have always found it interesting that people are quicker to purchase property in a declining market where market value continues to decline after a purchase than they are to purchase property in a healthy market where prices are on the increase. Working with an agent that has a proven record of top sales in Watercolor and who has the “insider knowledge” that comes with this level of accomplishment creates an opportunity to make a smart purchase that will payoff in the future. An agent who has knowledge of properties available for purchase that are not “on the market” is an invaluable resource in today’s market. Call me today and ask me to give you an “insider’s take” on what’s going on in Watercolor or you can search available Watercolor Real Estate through the links below