July 2011 Real Estate Statistics Across the Golden Isles of Georgia: Including Brunswick, GA and St. Simons Island Homes For Sale
It’s time to crunch some numbers. How does $17,477,612 sound? That’s the total dollar amount of Sea Island*, Jekyll Island, and St. Simons Island homes for sale recorded sold in the month of July 2011. Or, how about $5,770,990? That’s the total dollar amount of sold transactions for the Mainland of Brunswick, Georgia, also for July 2011. Sound pretty good? Here’s a bit of an analysis for you …
On the Islands (St. Simons, Jekyll Island, and Sea Island*) we saw a total of 37 sold transactions recorded in the MLS (Multiple Listing Service) as of today’s blog post, 9 of which where foreclosures or potential short sales. Sales prices ranged from $95,000 for a condo in Barnes Plantation to $3.4Million for a property located on Sea Island. It is to be noted however, that the average sales price of $472,368 for these 37 sales is greatly skewed by two multi-million dollar sales which took place on Sea Island. Also skewed is the average days on market of 382, as both Sea Island sales where listed at 2,734 and 1,445 days on market, respectively. The 37 residential sales we saw this month are on par with the 33 we saw last month, and are slightly ahead of the 21 sales we saw in July last year. When comparing these numbers to previous years, it is important to remember that 2009 and 2010 where particularly slow years for real estate sales and any increases we are seeing are still far below the numbers we saw at the height of the market. Foreclosures, approximately 12% of our current inventory, continue to dictate sales prices in our market. While sellers should only get into the market if they must sell, this is a great time for qualified buyers to take advantage of low prices, high inventory, and phenomenal interest rates. Please click here to view all July 2011 Island Sales {Link will expire in 30 days. Page will take some time to load & you will be redirected via a safe redirect page.}
Mainland statistics where a bit higher in total transactions with 49 recorded residential sales as of today’s blog post. Sales prices ranged from $3,900 for a distressed property in downtown Brunswick to $305,000 for a home in the Brunswick Pointe neighborhood. On par with the 47 transactions closed last month, the average selling price of these homes was $117,775 with an average number of days on market of 196 days. We did clear out some foreclosure inventory however, with 17 of these transactions listed as foreclosures or short sales at the time of their recording. Total sales volume was just over $5.7Million which is very comparable to the $5.1Million done in the same month last year. Again, these numbers, while increases, are still far below the sales figures we saw at the height of the real estate market. Please click here to view all July 2011 Mainland Sales {Link will expire in 30 days. Page will take some time to load & you will be redirected via a safe redirect page.}
It is important to remember that it is still a buyers market out there!!! If you are considering the purchase of St. Simons Island homes for sale or any property across the Golden Isles, there has never been a better time to get off the fence and get started! Potential buyers of all types are realizing the fantastic investment potential of our beautiful area. Whether you are a seasoned investor looking for an exceptional income-producing rental along the beach or a first-time home buyer who is ready to take advantage of this buyers market, the Golden Isles has something to offer you! Contact the Classic Coastal Homes Group today to get started in your search. Amy, Dean, Patrick and Nancy are always available for consultation regarding Brunswick and St. Simons Island Homes For Sale and can be reached via email at info@classiccoastalhomesgroup.com or via phone at 912.222.2144. To search listings, please visit our website: www.classiccoastalhomesgroup.com
Thanks for visiting and have a great day!
*Sea Island data is not representative of ALL Sea Island activity.
