Watercolor Florida home sales have been red hot in 2012. In fact 55 homes, an increase of 20% from the same period last year, were sold during the first six months of 2012. Sales of new construction have also been strong and represent almost 1/3 of all purchases. The demand for Watercolor Florida Homes for sale is insatiable with many buyers in town or planning visits to look.
Watercolor Home Sales, inventory levels (available homes) and price per square foot measures have all experienced historically significant changes this year. The 55 homes in Watercolor Florida that have sold in the first six months of this year represent the best Quarter 1 and 2 in history. Watercolor home sales from 2003 until now can be seen in the graph below.
The increase in sales of Watercolor homes has also led to a reduction in inventory. When the Watercolor real estate market started to heat up back in 2004, sellers and builders flooded the market with homes for sale. By 2006 there were over 60 months of inventory for sale. In other words, at those levels of demand, it would have take almost 5 years to liquidate all of the Watercolor homes that were available for sale. At the end of June, inventory levels were at 8 months which is considered to be a healthy market and somewhat more favorable to sellers than buyers. In fact, Watercolor sales prices increased dramatically from this level back in 2004.
As you would expect with the increase in homes sold and reduction in inventory, the closed prices of Watercolor Florida homes for sale have started to increase. This is the first increase since 2005 (7 years) and provides strong evidence that home values in Watercolor have hit rock bottom. The lowest prices were established last year at $352/sf and appreciated 9.75% to $385/sf this year. The graph below shows data for the past 10 years, and based on current demand, the trend is expected to continue upward.
Homes in Watercolor Florida For Sale
There are currently 65 homes in Watercolor Florida for sale ranging in a variety of sizes, quality levels and prices. Other facts about homes in Watercolor Florida are as follows:
List Prices : High - $4,495,000 : Low - $567,000 : Average - $1,636,000
Sizes : Largest - 6124 sf : Smallest - 1262 sf : Average - 3254 sf.
Days on Market - 407 days on average 294 days.
Watercolor Homes Summary
For Buyers: Inventory is shrinking and prices are increasing. If you see what you like, buy it now. Waiting will lead to paying more in the future. Do your research and be prepared to negotiate aggressively when you find what you want. There are a lot of Watercolor buyers looking for the same thing you are. Expect competition when making offers, especially on new listings that are priced right.
For Sellers: Price your home right and it will sell. Buyers are willing to pay a little more than they were last year but are still very cautious. Take all offers seriously. Buyers are still making low offers but many are willing to negotiate. I’ve seen 80% offers finish near list price. Don’t project the present into the future. Just because prices of Watercolor Homes ticked upward this year doesn’t mean the appreciation will continue.
There are a spectacular variety of Watercolor Florida Homes for Sale for all buyers. Whether you want to be near the beach or Camp Watercolor, we can find the perfect home for you.
Tim Shepard, Broker/Owner
Destin Real Estate, LLC
Cell: (850) 259-4133
Toll Free: (866) 678-SOLD
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