What's Happening in the Watercolor Real Estate Market? April 2024 Update

With Spring Break in the rearview mirror, history tells us the Real Estate Market in the Watercolor Community of 30A should be preparing for liftoff into the strong selling season. But with higher inventory and days on market, what can you expect to see in the coming days in our market? Here's the latest in this month's report...

Market Overview

This April, the Watercolor market had some interesting shifts. Here’s a quick rundown:

• Active Listings: We've got 33 homes on the market, which is up by 5 from last month. More choices for buyers means you’ve got to stand out from the competition if you're looking to sell your home. 

• Pending Sales: Sales slowed a bit with only 4 homes going under contract in the last 30 days, compared to 9 last month. We would expect to see this number rising, not falling as we get deeper into Spring. 

• Sold Properties: We saw 10 homes sell, which is down from 16. Homes that are priced right are still moving, but overall, the market isn't as fiery as it was.

Diving Deeper Into the Details

Price Points

• Highs and Lows: Detached single-family homes are listing for an average of $4.29 million (yeah, that’s quite the price tag!), but the homes that sold are averaging about $3.05 million. So, if you’re selling, setting the right price is key to getting that ‘Sold’ sign up.

• Per Square Foot: Active homes are listed for about $1,130 per square foot, though the ones that have sold dipped to $994 per square foot. Price it well, and they will come!

Time on Market

• Quick Moves: The average home is hanging out for about 115 days before finding the right buyer. That's a little better than the market-wide average of 130 days, so things aren’t too sluggish. Just know we are past the days of selling your home the first day it hits the market.

Featured Listings

Let’s shine a spotlight on a couple of places:

• Luxury Watch: Over at 26 Rain Lily Lane, there’s a stunning 6-bed looking for a new owner at $6.925 million. It’s been on the market for just 39 days and boasts a strong rental income potential of around $400K yearly – this is a great investment opportunity for those with a higher budget!

• Budget-Friendly Find: On the more affordable end, 11 Red Basil Lane is waiting at $2.425 million. It’s a cozy 5-bedroom that's been trying to catch someone’s eye for 328 days. A bit of a long wait, but a potential steal for the savvy buyer.

Condo Corner

• The Scene: Condos are a bit of a tough sell lately, with none pending this month. But, the one that did sell closed at $1.65 million, showing there’s still interest if the price is right.

• Pricey but Posh: The highest lister is a beachfront beauty at 1848 East County Highway 30A, unit 8, going for a cool $4.599 million. If you want waves at your doorstep, this is your spot!

Final Thoughts

Selling in this market will require a strong approach to marketing your home as exposing it to the most potential buyers is key. Competitively pricing your home will also be necessary to make it stand out from the rest. 

If you're a Buyer, this current market presents a wide variety of homes to choose from. Don't be afraid of writing offers at numbers steeply discounted from list price. You never know how motivated a seller may be, and your offer may be the trigger to get a negotiation started that results in you landing your dream home at a steal of a price! 

As we look towards the warmer months, whether you're looking to buy low, sell high, or just explore your options, Watercolor has a bit of everything. If you need help navigating this landscape, give me a call. Let’s find you that dream beach home or get a great deal on your property!

Got questions? Drop me a line anytime at 850-585-0642 or click here to schedule a call.  I can’t wait to help you make your beach living dreams come true!

Until next time, make it a great day on 30A!