Golden Isles Market Trends | Quarter 3 | 2023

MARKET TRENDS

GOLDEN ISLES

QUARTER 3 - 2023

A WORD FROM US Greetings from St Simons Island and the Golden Isles. This market report is a detailed summary of This market report is a snapshot or look back at the 3rd quarter of 2022. It is mid October and the the third-quarter real market in Glynn county.

As we into fallThe herereal on the Georgia coast, weather is starting to estate cool and we are all getting ready forenter Halloween. estate market is starting to transition but I think there is still a lot to be positive about despite growing concerns of the warm weather is finally starting to give way to some cooler temperatures. Unfortunately the real inflation and the fact that interest rates have gone up four percentage points in just 10 months. Our estate market is mimicking the I’ve same cooling trend. market is definitely shifting but been saying for months and months that our market does need

to return to a more “normal“ market. And I do believe that our market in general will continue to remain strong. real estate market dipped slightly from the spring buying season but mainly just The third-quarter regarding the number of homes sold.inGlynn an 8.6%9.4% decrease the number of homes The third quarter real estate market Glynncounty Countysaw decreased in the in number of homes sold. soldthat from thestill spring to the summer season. which However, theamedian sale price increased ever But was 875season properties sold in the quarter is still large number.

Despite the rising interest rates and the slowing of the market, we were still able to close 11.5% so slightly to a median home sold price of $389,500 county wide. That average is up a staggering more homes in this most recent quarter then we did in the first quarter of 2022, when the interest 12.7%were fromhovering the samearound timeframe prior. That tremendous rise in equity for those that rates 3.5% the andyear the market was isonafire. wish to cash in and sell their property.

We did see the median home sale price drop last quarter slightly from $330,000 to $297,500. This is a 9.8% decrease.

Luckily median on market decreased just 55 days and our average list price sales One thingour that is stilldays remaining constant is thetounprecedented median sales price to listto price which remains the 100%. Basically meaning that sellers are typically getting their exact price increased to asame solid at 100%. asking price when it comes time to sell their home.

The highest high sale forsale thethat county waswas a gorgeous, marshfront SeaonIsland which sold for The price we saw for $9,450,000 and washome for a on home Sea Island. $8,250,000.

Our inventory of homes for sale is remaining pretty much the same. The number of homes for sale in July, August and September were 550, 530 and 535 respectively. This is compared to 671, 654 Despite high,the theprevious market still to stayinterest strong. rates Fortunately inventory and 659 interest from therates samebeing months year.continues So with higher and potentially fewer buyers the market, fact that we have slightlystrong fewer and listings those buyers has begun to in rise which will the continue to keep the market offerfor what seems liketoanchoose unlimfrom is helping our market stay strong. ited amount of buyers, options to choose from. And despite interest rates and negative press etc., if a home is priced correctly it will not only sell quickly but may receive multiple offers and per the Istatistics am hopeful that interest willaverage settle out stop rising reduce slightly mentioned aboverates will on selland for exactly whatand the hopefully seller waseven asking. but as many of you know, historically even a 7% interest rate is not all that dramatic. We have seen in an incredible run up in prices in our area in the last two years, so for those that need to sell this will still be a great Andthis formarket those looking to buy in our area, theyreview may be looking We hope you enjoy time. reading report and enjoy the in-depth of increasingly many of the beautiful for that “deal“ that’s on the neighborhood that make upmarket.

Glynn county. I hope you find this information useful and informative.

Through this report you will get an in-depth review of many of the beautiful neighborhoods that make up Glynn County. I hope you find this useful and informative.

John Hallman John Hallman

President President, Broker Engel & Völkers Golden Isles Engel & Völkers Golden Isles Golden Isles Isles Golden GOLDEN ISLES

ST. SIMONS ISLAND HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

174

$631,200

2.37

50

Neighborhoods of St. Simons Island, Ga

St. Simons Island, or simply St. Simons, is a barrier island and census-designated place located on St. Simons Island in Glynn County, Georgia, United States. The names of the community and the island are interchangeable, known simply as "St. Simons Island" or "SSI", or locally as "The Island". St. Simons is part of the Brunswick, Georgia Metropolitan Statistical Area, and according to the 2010 census, the CDP had a population of 12,743.

Located on the southeast Georgia coast, midway between Savannah and Jacksonville, St. Simons Island is both a seaside resort and residential community. It is the largest of Georgia's renowned Golden Isles along with Sea Island, Jekyll Island, and privately owned Little St. Simons Island. Visitors are drawn to the Island for its warm climate, beaches, variety of outdoor activities, shops and restaurants, historical sites, and its natural environment.

In addition to its base of permanent residents, the island enjoys an influx of both visitors and part-time residents throughout the year. The 2010 Census notes that 26.8% of total housing units are for "seasonal, recreational, or occasional use". The vast majority of commercial and residential development is located on the southern half of the island. Much of the northern half remains marsh or woodland. A large tract of land in the northeast has been converted to a nature preserve containing trails, historical ruins, and undisturbed maritime forest. The tract, Cannon's Point Preserve, is open to the public on specified days and hours. Located on the northeast end of the island.

Originally inhabited by tribes of the Creek Nation, the area of South Georgia that includes St. Simons Island was contested by the Spaniards, English and French. After securing the Georgia colony, the English cultivated the land for rice and cotton plantations worked by large numbers of African slaves, who created the unique Gullah culture that survives to this day.

The primary mode of travel to the island is by automobile via F.J. Torras Causeway. Malcolm McKinnon Airport serves general aviation on the island. *Source:Wikipedia

St. Simon’s Island Neighborhoods

ISLAND CLUB HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

3

$1,377,500

3

38

HAMPTON PLANTATION HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

2

$824,500

6.06

142

St. Simon’s Island Neighborhoods

ST. SIMONS HEIGHTS HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

7

$625,000

1.71

50

EAST BEACH HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

2

$2,065,000

6.06

91

St. Simon’s Island Neighborhoods

COAST COTTAGES HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

0

No Sales

-

-

SEA PALMS HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

2

$1,172,000

4.5

45

St. Simon’s Island Neighborhoods

HAMILTON LANDING HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

2

$1,250,000

3.03

86

HARRISON POINTE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

3

$585,000

1

14

St. Simon’s Island Neighborhoods

HAMPTON POINT HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

4

$1,347,500

3.00

121

FREDERICA GOLF CLUB HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

2

$3,950,000

10.60

184

JEKYLL ISLAND HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

16

$555,860

3.18

254

Neighborhoods of Jekyll Island, Ga Jekyll Island is located off the coast of the U.S. state of Georgia, in Glynn County. It is one of the Sea Islands and one of the Golden Isles of Georgia barrier islands. The island is owned by the State of Georgia and run by a self-sustaining, self-governing body.

Long used seasonally by indigenous peoples of the region, beginning in the colonial era, some of its lands became privately owned. A few structures still stand made of tabby, a coastal building material of crushed oyster shells.

The island was developed in the late 19th and early 20th centuries. It was evacuated during World War II by order of the US government. In 1947 the state of Georgia acquired all the property, for security and preservation.

A popular tourist destination, the island has beaches frequented by vacationers. Guided tours of the Landmark Historic District are available. Bike trails, walks along the beaches and sandbars, and Summer Waves, a water park, are among the active attractions. The historic district features numerous impressive and ambitious buildings from the late nineteenth and early twentieth centuries. The island is also full of wildlife, consisting of many different mammals, reptiles, and birds living and breeding in the island's inland salt marshes. In 2018, Architectural Digest named Jekyll Island the eleventh most beautiful small town in America.

In 1886, Jekyll Island was purchased by the Jekyll Island Club, which Munsey’s Magazine called “the richest, the most exclusive, the most inaccessible club in the world. . . .” For those who represented 1/6 of the world’s wealth at the turn of the century, the Jekyll Island Club became an exclusive retreat. Families with names like Rockefeller, Morgan, Vanderbilt, Pulitzer, and Baker built the elegant Clubhouse and “cottages” in Victorian architectural styles. *Source:Wikipedia

Jekyll Island Neighborhoods

OCEAN OAKS AT JEKYLL

HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$1,650,000

0

42

THE COTTAGES AT JEKYLL

HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$830,000

0

216

Jekyll Island Neighborhoods

VILLAS BY THE SEA HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

6

$344,573

1.5

198

THE MOORINGS AT JEKYLL HARBOR

HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

4

$555,860

3.00

563

Jekyll Island Neighborhoods

PLANTATION HOMES SOLD

Ж- %"*+ (ĸ"

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

0

$767,500

-

38

PALMETTO HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$616,875

3.03

166

Jekyll Island Neighborhoods

PINE GROVE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

0

No Sales

-

-

JEKYLL BEACH HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$1,210,000

12.12

111

SEA ISLAND HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

8

$5,362,500

7.14

59

Neighborhoods of Sea Island, Ga Sea Island is a privately owned, unincorporated area of Glynn County, Georgia, and is part of the Golden Isles of Georgia, which include St. Simons Island, Jekyll Island, Little St. Simons Island, and the mainland city of Brunswick. The well-visited seaside resort island is located along the Atlantic Coast just east of St. Simons Island. It lies about 60 miles north of Jacksonville, Florida and about 60 miles south of Savannah, Georgia, and is reachable via a causeway from St. Simons Island. The Anschutz family of Denver, Colorado owns two resorts with limited public access and maintains a gated community for around 500 single-family residences.

The resorts, Sea Island Beach Club and The Cloister, are located a short distance from one another, connected by a roundabout in the middle of Sea Island Drive, the island's main connecting road. The oceanfront Beach Club contains restaurants, a game room, a bowling alley, an ice cream shop, a bar, and three pools. Sea Island's main hotel, The Cloister, is located on its southwestern side along the Black Banks River. It includes restaurants, 200 rooms, a spa, tennis and squash courts, an exercise facility, and is home to the only Forbes Five Star restaurant in the state of Georgia, The Georgian Room. It is the only resort in the world to have received four Forbes Five-Star awards for ten consecutive years.

Georgia's Sea Island is part of a long chain of barrier islands, also known as "sea islands", located along the coasts of South Carolina, Georgia and northern Florida between the Santee and St. Johns rivers.

Source:Wikipedia

Sea Island Neighborhoods

BEACH CLUB

GARDEN RESIDENCES HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

0

No Sales

0

-

BEACH CLUB

OCEAN RESIDENCES HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

0

No Sales

0

-

Sea Island Neighborhoods

CLOISTER

OCEAN RESIDENCES HOMES SOLD

MEDIAN CLOSED SALES PRICE & " Ŀ Ж +"- %"*+ (ĸ"

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$1,862,500

15.15

133

*SOME FRACTIONAL/QUARTER OWNERSHIPS

OCEAN FOREST HOMES SOLD

MEDIAN SOLD LIST PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$7,209,500

21.21

91

Sea Island Neighborhoods

SEA ISLAND COTTAGES HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

3

$5,250,000

2

39

RIVER CLUB HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

0

No Sales

0

-

BRUNSWICK HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

238

$274,500

1.87

68

Neighborhoods of Brunswick, Ga Brunswick is a city in and the county seat of Glynn County, Georgia, United States. As the main urban and economic center of the state's lower southeast, it is the second-largest urban area on the Georgia coast after Savannah and contains the Brunswick Old Town Historic District.

British colonists settled the peninsula in 1738 as a buffer to Spanish Florida. It came under provincial control in 1771 and was founded as "Brunswick" after the German duchy of Brunswick–Lüneburg, the ancestral home of the House of Hanover. It was incorporated as a city in 1856. Throughout its history, Brunswick has served as an important port city: in World War II, it served as a strategic military location with an operational base for escort blimps and a shipbuilding facility for the U.S. Maritime Commission.

Brunswick supports a progressive economy largely based on tourism and logistics, with a metropolitan GDP of $3.9 billion. The Port of Brunswick handles approximately 10 percent of all U.S. roll-on/roll-off trade—third in the U.S., behind the ports of Los Angeles and Newark. The headquarters of the Federal Law Enforcement Training Center is located 5 miles north of the central business district of the city and is adjacent to Brunswick Golden Isles Airport, which provides commercial air service to the area. In the 2010 U.S. census, the population of the city proper was 15,383; the urban area, 51,024; and the metropolitan area, 112,370.

Brunswick is located on a harbor of the Atlantic Ocean, approximately 40 mi north of Florida and 80 mi south of South Carolina. Brunswick is bordered on the west by Oglethorpe Bay, the East River, and the Turtle River. It is bordered on the south by the Brunswick River and on the east by the Atlantic Intra coastal Waterway in the Mackay River, which separates it from the Golden Isles. *Source:Wikipedia

Mainland - Brunswick Neighborhoods

AUTUMN’S WOODS HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$267,000

0

0 53

AVONDALE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$286,500

3-

46

Mainland - Brunswick Neighborhoods

BELLE POINTE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

4

$278,750

.75

60

CARRIAGE GATE PLANTATION

HOMES SOLD

11

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

$429,990

4.09

183

Mainland - Brunswick Neighborhoods

CLEAR WATER HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

5

$404,900

1.80

163

COUNTRY WALK HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

5

$351,000

2.40

75

Mainland - Brunswick Neighborhoods

COVINGTON POINTE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

5

$330,000

3.01

38

CYPRESS RUN HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$170,000

0

23

Mainland - Brunswick Neighborhoods

LAUREL GROVE PLANTATION HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

4

$485,000

0

50 56

LEXINGTON PLACE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

2

$372,500

3.03

69

Mainland - Brunswick Neighborhoods

MARSHES OF MACKAY HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

4

$420,000

2.25

69

OAK GROVE ISLAND HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

6

$612,450

2.5

67

Mainland - Brunswick Neighborhoods

OLD TOWN HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

3

$383,500

7

52

RIVERSIDE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

2

$840,000

1.51

59

Mainland - Brunswick Neighborhoods

SADDLE BROOKE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

1

$279,900

0

78

TANGLEWOOD HOMES SOLD

1

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

$275,000

0

37

Mainland - Brunswick Neighborhoods

THE VILLAS THE COTTAGES AT GOLDEN ISLES AT JEKYLL

HOMES SOLD

0

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

No Sales

-

-

WINDSOR PARK HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

Ж- 0* 'Ŀ & ĸ$ +

2

$347,500

0

113

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GOLDEN ISLES

100 Redfern Village | St. Simons Island, GA | 31522 (912) 634-0595 | evgoldenisles.com