Watercolor
Homes for Sale in Santa Rosa Beach, FL
All 840 homes for sale in Santa Rosa Beach, FL · median $1,175,000 · Walton County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via Emerald Coast MLS
As of November 2026, Watercolor Phase V in Santa Rosa Beach, FL has 29 homes for sale and 7 pending, asking from $1,735,000 to $11,995,000 (median $4,485,000). Homes listed or recently sold were built 2000–2026 with 3 new construction; 2 of the 36 geocoded homes sit in a FEMA special flood hazard zone (median elevation 21 ft).
Part of the WaterColor master-planned community in Santa Rosa Beach, FL — see all WaterColor homes for sale (38 listings across 3 villages and sections in the MLS).
19% of homes for sale in Watercolor are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-09-19).
Watercolor Phase V Market Scorecard
Watercolor Phase V is currently a thin data market. Limited supply, a median asking price of $4,485,000, and homes go under contract in about 86 days.
Typical home value in the 32459 ZIP is $864,108, about 71.4% above the Florida norm (Zillow Home Value Index).
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: realMLS, refreshed twice daily. Typical value: Zillow Research. Market metrics only; these describe homes for sale and recent sales, not residents.
Homes For Sale Right Now in Watercolor
Live MLS inventory for Watercolor. Every active listing, what is under contract right now, and the last 12 months of closed sales, refreshed twice a day. Closed comps beat an algorithm's guess every time.
Active · 94 daysTop listing
Active · 24 days
Active · 113 days
Active · 152 days
Active · 137 days
Active · 3 days
Active · 220 days
Active · 23 days
Active · 41 days
Active · 43 days
Active · 26 days
Active · 50 days
Active · 33 days
Active · 23 daysActive and pending Watercolor listings as of 2026-07-25, priced high to low. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Tap any home to ask about it.
Price here is driven by the WaterColor name, proximity to the Gulf, and the condition and placement of the individual home far more than by any published range. With no median figure in this snapshot, treat every asking price on its own merits: lot position, finish level, rental history, and how close the home sits to the amenities that carry the broader WaterColor community. Two homes on the same street can be worth very different money.
With 29 active listings in Phase V, there is real selection for a buyer willing to compare carefully, and that inventory gives negotiating room rather than urgency. For a seller, that same count means you are one of many; the home has to be priced against real comparables and shown in strong condition to stand out. Nobody here is getting a pass on preparation.
Figures in this note are as of July 26, 2026. The live market numbers elsewhere on this page update nightly and are newer.
The 60-Second Overview
WATERCOLOR PHASE V sits within the larger WaterColor community in Santa Rosa Beach, Walton County, and the current snapshot shows 29 homes actively for sale. No community amenities are identified from the current MLS listings themselves, so value leans on location and the home's own attributes.
Flood zones in Watercolor: of 24 listing addresses checked against the FEMA National Flood Hazard Layer, 92% sit outside the FEMA Special Flood Hazard Area (Zone X); 8% are in an A-series high-risk zone where flood insurance is required with a federally backed mortgage. Individual parcels vary - verify any specific address at msc.fema.gov. See flood zones by neighborhood in Santa Rosa Beach.
Pre-construction details are compiled from public records, builder announcements and builder listings, and are subject to change without notice; figures are deemed reliable but not guaranteed. Momentum Research figures are our own analysis. This page describes homes, pricing and community attributes, not residents.
The setting & the homes.
Aerial and on-site photos of Watercolor. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
WatercolorWatercolorWatercolorWatercolorWatercolorWatercolorWatercolorWatercolorPhotos from Emerald Coast MLS listings in Watercolor; content deemed reliable but not guaranteed.
Who Watercolor is best for.
Best for
- Buyers targeting the WaterColor community who will do the legwork to compare several homes before committing
- Buyers who value condition and lot placement over a headline name and will pay accordingly
- Buyers who want negotiating room and are comfortable acting when the right home appears rather than rushing
Probably not for
- Buyers who assume every listed amenity of the wider community conveys with a specific address without verifying
- Buyers who need a single fixed price point rather than evaluating each home on its own merits
- Buyers expecting a guaranteed financial outcome, which no one can honestly promise in this market
Watercolor on the map.
Every active, pending, and recently sold home, plotted. Toggle the layers and tap a home for the details.
Listing locations from Emerald Coast MLS. Map data © OpenStreetMap contributors.
Schools
- Walton County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- Dune Lakes · Elementary
- Emerald Coast · Middle
- South Walton · High
Zoned schools reflect the assignments reported on recent Watercolor listings and can change; always confirm with Walton County Public Schools for a specific address.
Buying with schools in mind? We can confirm the exact zoned schools for any Watercolor address.
Shop the zone: Homes zoned for South Walton High School
The Watercolor buying strategy.
If we were buying in Watercolor today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Watercolor.
Reading a phase inside a larger community
Phase V is a slice of WaterColor, and buyers should understand what that means practically. The amenities people associate with WaterColor are not itemized in these particular MLS listings, so if pool, trail, or beach-access proximity matters to you, confirm exactly what a given address conveys and how far it sits from those features. Do not assume the marketing picture of the whole community applies uniformly to every lot in this phase.
The 29 active listings are enough to let you triangulate. Walk more than one, note the difference between a turnkey finish and one that needs work, and pay attention to how rental use may have shaped a home's wear. In a Gulf-adjacent market, condition and location within the phase are where the money actually moves.
The location and the amenities are priced into every listing in Watercolor. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
We know how to read a single phase inside a larger master-planned community, which is exactly where buyers overpay by assuming the whole-community story applies to a specific lot. With 29 homes on the market, our job is to sort the genuinely comparable from the merely nearby, verify what each address actually conveys in terms of access and amenities, and keep you disciplined on condition and placement rather than on a name.
Watercolor in 15 seconds.
Email me new listings in Watercolor
One e-mail a day, only when a home lists here, with price, beds, baths and a link to every listing. Straight from the MLS feed; no account needed.
Ask an agent about Watercolor
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Watercolor will answer, and the answer is published on this page for the next buyer.
What it really costs to own in Watercolor
The parts of the monthly number a mortgage calculator leaves out, from the tax roll, the MLS, Citizens and FEMA. Property facts only.
| Property tax | Current owners' bills run a median of $19,094/yr across 8 listings here (MLS tax records, 2026-11-07). |
|---|---|
| HOA dues | Median $630/month across 10 MLS listings (most billed quarterly; 2026-11-07). Dues cover what the documents say they cover; ask for the budget and reserve study. |
| Home and flood insurance | The average Citizens Property Insurance premium in Walton County is $1,942/yr (433 policies, Citizens detail by county, April 2026); private-market quotes depend on roof age, wind mitigation and construction. Flood: of 24 listing addresses checked against the FEMA flood map, 92% sit outside the high-risk zone and 8% inside one, where flood insurance is required with a federally backed mortgage. Statewide, a Zone X flood policy runs about $500-$700/yr and a high-risk zone $1,200-$2,500/yr (FEMA Risk Rating 2.0 averages, not quotes). |
| Roof and age | Median build year 2010 across 10 listings. An original roof here would be about 16 years old; under Florida's 2022 reform (SB 2-D) carriers may require an inspection past 15 years, so budget for a roof report, and for replacement where it fails. |
Estimated carrying cost at the median asking price, before the mortgage: about $2,383/month (tax $1,591, HOA $630, insurance $162). An estimate from the sources above, not a quote.
HOA, CDD & Fees
- HOA dues reported around $630/month (about $7,560/yr) · median of 10 MLS listings, most billed quarterly
- Any club/amenity membership is billed separately
Listings in this community report association dues of about $630 per month ($7,560 a year) — the median AssociationFee across 10 MLS records, normalised to a monthly figure; most are billed quarterly. Dues change with budgets and can differ by section or product type; confirm the current figure with the association before you offer. Source: MLS listing records, 2026-11.
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Watercolor buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Watercolor sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Watercolor, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Watercolor home worth?
Get a no-obligation home value based on real comparable sales in Watercolor, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See homes for sale in Watercolor on the map →
Should you buy in Watercolor?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | Emerald Coast MLS, refreshed twice daily (last: July 25, 2026) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of Emerald Coast MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. A Momentum agent can price yours against live local comps.
Looking to buy here? Search homes for sale →
What’s your home worth in your area?
A real valuation with real comps from a local listing agent, not an instant algorithm. Response within one business day.
More Santa Rosa Beach & Destin, Okaloosa & Walton (Emerald Coast) guides
Compare before you commit - every guide covers pricing, HOA/CDD, insurance posture, and fit. Browse all of Destin, Okaloosa & Walton (Emerald Coast) or the full Neighborhood Finder.
See how WATERCOLOR PHASE V fits the bigger picture — live prices, inventory, and Momentum Scores:
Common questions about Watercolor
Where is Watercolor?
Watercolor is a community in Santa Rosa Beach, Walton County, Florida.
Are there homes for sale in Watercolor right now?
Yes — 29 active and 7 pending listings as of the last feed refresh (twice daily). They are listed on this page.
Does Watercolor have an HOA or CDD?
No HOA is on record for Watercolor in our data. Verify dues, what they cover, and any special assessment for a specific address before you offer.
Answers are generated from county property records, MLS feeds and the figures on this page, as of the page date; deemed reliable but not guaranteed.