WaterColor Real Estate Update

WaterColor has grown into a very popular community over the years. The WaterColor community offers plenty of great amenities including fine dining, boutique shopping, easy access to grocery stores, beautiful parks, and nature trails for the whole family to enjoy. The architecture and construction of WaterColor properties are made of high quality. The community is very inviting and

appealing to families. What makes WaterColor community so special is that it sits in between two popular beach towns that are very active. Owners of WaterColor properties have often said that they enjoy being able to visit Seaside where it is busy and exciting but love that they have just a short walk home where it is more peaceful and quiet. Below is a synapsis of the trends in both the condo and home market in WaterColor. I have included a graph so you can see everything in both markets as it happened from the beginning to the present.

Home Market Update
The first home in WaterColor sold in 2002. The housing market in WaterColor hit its peak in 2004 & 2005 and its low point between 2009 & 2011. Prices have been on the rise ever since 2011. 110 homes sold in 2013 and 97 homes have sold so far in 2014. Most of the home market along 30A seems to be enjoying this same trend. WaterColor's sales volume has slowed a little with the prices going higher. With the continual increase of pricing, we expect sales volume to decrease. 70 homes are on the market at this time.

Condo Market Update
The first Watercolor condominium sold in 2001. The condo market in WaterColor hit its peak in 2005 and its low point in 2011. Prices have been on the rise ever since 2011. 8 condos sold in 2013 and 19 condos sold in 2014. Similar to the WaterColor home market, most of the condo market along 30A seems to be enjoying this trend. WaterColor's sales volume has increased. Like the home market, we expect prices to continue to climb but sales volume decrease due to the rise of prices. 7 condos are on the market at this time but only 5 of them are priced reasonably. This leads me to believe that the absorption rate will likely fall next year.