Watersound Beach Market Update
April 25, 2010 | Miriam Dillon
Watersound is a St. Joe development, located south of Hwy 30A in South Walton County. Click here to view all the Watersound properties on the market. Sales activity has picked up. For the Watersound single family home and condo market, take a look at these graphs:
The news is pretty good for sellers of homes under $1,000,000 with a 3 month absorption rate. There was an 11% list to sales price differential for these homes and the average sales price was $600,250. In the $1,000,000 – $2,000,000 range, the absorption rate is 12 months. The list to sales price differential was 9% and the average sales price was $1,516,667. For the $2,000,000-$3,000,000 range, the absorption rate is huge – 44 months. Only 1 house sold over the last year in this range – the list to sale price differential was 7%. This home was listed at $2,295,000 and it sold at $1,816,000. There have been no sales over the past year in the $3,000,000+ category.
For the condos listed at under $1,000,000, the absorption rate is 7 months. The average list to sale differential was 12% and the average sold price was $598,400. In the $1,000,000-$2,000,000 range, the absorption rate rose to 17 months. The list to sales price differential was 15% and the average sales price was $1,210,000. There is just one condo on the market over in the over $2million range and there was only 1 sale, so the 4 month absorption rate may not be very telling. The list to sale price differential on the one sale was 26%. List price was $2,095,000 and the sales price was $1,550,000.
If you would like a report of the sold properties since the beginning of the year in Watersound, email me at firstname.lastname@example.org or leave a comment here and I’ll be glad to forward it to you.