The bulk modulus and the density of water are greater than those of air. With this much of information, we can say that velocity of sound in air
cannot be compared with its value in water
Velocity of sound in air vair=√Bairρair
Velocity of sound in water vwater=√Bwaterρwater
If only Bwater > Bair
Then for sure Vwater < Vair.
If only ρwater > ρair
Then for sure Vwater > Vair
But if both are greater
WE can't say how the ratio's will be related
It's a maths problem.
If BwaterBair > ρWaterρair,
then we can say Vwater < Vair