WaterColor Home Sales Trends 2012 - 2024

by Murray Balkcom, Broker Associate for 30A Local Real Estate

Key Trends:

• Rising Prices: Both average list and sale prices have significantly increased over the years. The average sale price has jumped from around $1.1 million in 2012 to over $3.7 million in 2024. This indicates a strong appreciation of property values in WaterColor.

• Increased Sales Volume: The total dollar amount of sales (annual volume) has also grown substantially, reflecting both higher prices and, in some years, more sales.

• Fluctuating Sales Numbers: The number of  annual sales has varied. While there's no consistent upward trend in the number of sales, some years clearly saw more transactions than others. 2021, for example, saw a significant spike in the number of sales.

• Days on Market (DOM) Decreasing, then Increasing: The average number of days a property stays on the market (DOM) initially decreased, suggesting a faster sales pace. However, in recent years, DOM has been increasing, which indicates a slight increase in inventory.

• Inventory Fluctuations: The number of available properties (current inventory) has varied. Lower inventory generally puts upward pressure on prices. The "Months Inventory" figure tells us how long it would take to sell all current listings at the current sales pace. A lower number indicates a seller's market, and a higher number a buyer's market.

• Consistent Sale Price to List Price Ratio: The "% Sold/List" is consistently high (around 94-97%), indicating that sellers are generally getting very close to their asking price. This further points to a strong market.

• Price per Square Foot Increase: Both listing and selling price per square foot have also risen considerably, mirroring the overall price increase. This is another indicator of strong property value growth.

In simpler terms:

WaterColor's real estate market has been very strong. Homes are selling for much more than they did a decade ago. While the number of sales fluctuates, prices continue to climb. Sellers are generally getting close to their asking price, and while homes were selling very quickly a few years back, they are now sitting on the market a bit longer. The inventory of available homes is also a key factor to watch, as it influences prices and how quickly homes sell.

Things to consider:

This analysis provides a general overview. For more in-depth insights, it would be beneficial to compare this data with broader market trends and consult with Murray Balkcom, Broker Associate for 30A Local Real Estate, specializing in real estate in the greater 30A area for over two decades.