With May on the books, it’s time to talk statistics. We can’t escape the question, “How’s the market?” and the best way to answer is with cold, hard facts. As real estate agents, it is our duty to supply our clients with the information needed to make sound and informed decisions as it relates to their real estate investments and the purchase or sale of their Golden Isles homes. Please feel free to browse the following market analysis and contact us with any questions you may have.
Let’s talk the islands; St. Simons Island, Jekyll Island and Sea Island. Within this area, we saw 27 single-family residential sales. This figure does not include properties marketed by the Sea Island Company, as 
they are not currently a member of our Multiple Listing Service. Of these 27 sales, the highest sale was a $1,000,000 condominium in the St. Simons Grand building on Ocean Blvd. Additionally, 9 of these sales where either foreclosures or listed a potential short sales when they where taken off the market. Average sales price for the May 2011 sales was just over $320,000, while the average asking price was just over $364,000. This tells us that Sellers received nearly 91% of their asking price. Generally speaking, these numbers are low compared to the steady increases we saw from January to April.
Moving to the mainland – Brunswick and Central, North and West Glynn County – we saw 55 single-family residential sales which was up significantly from the 41 sales we saw in April 2011 and the 45 sales we saw in May 2010. Of these transactions, the highest sales price came from a 5 bedroom, 4 bathroom home in the Good Place subdivision located in West Glynn County. Interestingly, 28 of these transactions where either foreclosures or listed as potential short sales at the time of their listing. With an average sales price of $139,958 and an average asking price of $151,150, Sellers received on average 92% of their asking price. Also of note is the average days on market which was 182 days.
This market snap-shot is intended to give you general statistics regarding the St. Simons Island and Brunswick, Georgia real estate markets. If you would like a more detailed look at the potential value of your home in today’s real estate market, please do not hesitate to email our team today! Or, if you’re a buyer or investor considering the St. Simons Island and Brunswick, Georgia areas, please feel free to browse our website and it’s detailed search option for browsing the local MLS inventory. Please feel free to give us a call at your convenience if you have any questions. We look forward to hearing from you and to earning your trust and business.
