A WORD FROM US

Greetings from St Simons Island and the Golden Isles. This market report is a detailed summary of the second quarter real estate market in Glynn county. As we begin to approach August here on the Georgia coast, the mild and quite pleasant temperatures have unfortunately been taken over by the typical hot, humid and sticky summer days we have become accustomed to. And as it often does, the real estate market has followed suit and has started to heat up as well.

The market in the second quarter saw a nice rebound from the somewhat dismal numbers from the previous quarter. The number of homes sold in the second quarter rose quite dramatically compared to the quarter before.

Glynn county saw a 35.5% spike in the number of homes that traded hands. This was coupled with a 7.4% increase in the median home sale price. This median price is now up to $386,900. This median price is also up 7+ percent from 2022 as well.

We were also fortunate to see our second quarter statistics improve on the median list price to sales price percentage. We finished the quarter with all homes in Glynn county receiving 99.7% of their asking price.

To round out the positive numbers the second quarter also brought the average days a home will spend on the market down 17+ percent to a very quick 57 days.

The high sale for the quarter was a 5100 ft.² oceanfront penthouse condo in Ocean Forest, which sold for $9,500,000.

Despite what you may be hearing on the news or reading about how awful the real estate market is with prices that have peaked and only dreadful things to come, that is not even close to the reality. The truth of the matter is, we are still seeing multiple offer situations, buyers having to make backup offers on a property or missing out all together. Don’t let the fear-based news lead you astray. Our real estate market is booming and despite interest rates I believe it will continue to do so for the foreseeable future.

We hope you enjoy reading this market report and enjoy the in-depth review of many of the beautiful neighborhoods that make up Glynn county. I hope you find this information useful and informative.

John Hallman