The Holiday Season is upon us here in the Golden Isles, and that means yet another month of real estate sales are hitting the books. As part of our ongoing series of monthly home sales statistics for St. Simons Island Real Estate and Brunswick Georgia Real Estate, we bring you the November 2010 stats. If you are in the market for a new home or considering selling your home, it is important to stay abreast of the trends in our area. By providing you with these statistics, it is our hope you will walk away with a better knowledge of our market thus allowing you to make more knowledgeable and informed decisions regarding your real estate goals.
Let’s start with single-family home sales on the Islands. Included in the Islands are St. Simons, Jekyll, and Sea Island. During the month of November 2010, we saw 11 single-family home sales in the area which was down from 13 transactions last month. These sales ranged in price from $210,000 to $2,100,000 and where on the market for an average of 258 days. Because there where three quite significant sales over $1 million, we saw the average sales price jump to $719,000. If we take out those three outlying sales, the average sales price would drop to $338,000 which is more consistent with last months average of $378,000. And, just in case you’re interested, the top three sales where a $1.25 million home in Butler Plantation, a $1.85 million foreclosure in the Frederica Golf Club, and a $2.1 million home on Sea Island. Another interesting statistic to note is the list-to-sale percentage of 93%. This means that sellers received, on average, 93% of their asking prices.
As we know from previous posts, the condo market on the Island has significantly slowed over the past few years. Because of this, there are some amazing deals for the buyer who would consider a condo or town home. However, it is a difficult time for sellers of condos as there is a wealth of inventory and not enough buyers looking for this type of real estate. During the month of November, we saw 6 condo/town home sales on the Islands which ranged in price from $167,500 to $240,625. Of these six sales, three where foreclosures. On average the condos where on the market for 268 days and sold for 92% of the sellers list price.
An area which saw an increase in sales compared to last month was single-family sales in Brunswick with 40 sales compared to 22 last month. Many of these sales where investment type properties under $100,000 located within the downtown core and Central Glynn. Sales ranged from $21,900 to $399,900 with an average sales price of $114,000. Additionally, with a list-to-sale percentage of 89%, sellers in the Brunswick area received less of their asking price on average than that of the Islands, and homes where on the market for an average of 138 days. Nine of these forty sales where foreclosures or short sales.
If you are a potential seller, it is important to remember that there are still buyers out there looking for the perfect property, and these numbers should not be discouraging. If you are realistic with your expectations, price your home properly, and have a market-savvy real estate agent who is skilled in the strategic marketing of your home – you can sell your property!
If you’re in the market for a new primary residence or vacation home please pick up the phone or shoot us an email! If you are a seller, and are ready to take the next step in placing your St. Simons Island Home for Sale, please feel free to contact a member of the Classic Coastal Homes group for a free home evaluation and consultation. We stand ready to assist you with all your real estate needs and look forward to answering any and all of your real estate questions. You can view our contact information here, or visit our website at www.classiccoastalhomesgroup.com. Thanks for visiting and have a great day!
