Golden Isles Market Trends | Q4 | 2023

MARKET TRENDS

GOLDEN ISLES

QUARTER 4 - 2023

A WORD FROM US Greetings wetisand cold Golden Isles.

Thisatmarket a detailed of the fourth This marketfrom report a snapshot or look back the 3rdreport quarteris of 2022. It issummary mid October and the weather is starting to cool in and we are all getting ready forour Halloween.

The winter real estate is quarter real estate market Glynn County.

As we navigate way through here market on beautistarting to transition but I think there is still a lot to be positive about despite growing concerns of ful St Simons wefact arethat experiencing a much and at percentage times colder winter than10 years past.Our We inflation and the interest rates havewetter gone up four points in just months. market is definitely shifting but I’ve been saying for months and months that our market does need are looking forward to warmer weather and a bustling spring real estate market. to return to a more “normal“ market. And I do believe that our market in general will continue to remain strong.

The third fourth quarter real estate market a decline from the fall market. county saw asold.

21% The quarter real estate market in saw Glynn County decreased 9.4% in theGlynn number of homes But that was stillnumber 875 properties sold in the quarter is winter still a large number. decrease in the of homes sold from the fallwhich to the season.

The median sale price Despite the rising interest rates and the slowing of the market, we were still able to close 11.5% more homes this most quarter weadid in decline, the first taking quarterback of 2022, interest also fell fromin$390,000 torecent $375,000.

That then equals 3.8% somewhen of thethe gains from rates were hovering around 3.5% and the market was on fire. the 12.7% increase from the prior quarter. All the while, the average days on market increased ever We did see from the median price drop quarter slightly to $297,500. so slightly 80 to 84home dayssale on market.

Ourlast average sales pricefrom to list$330,000 price percentage alsoThis fell is a 9.8% decrease. fromthing 100%that to a is still very healthy 98.5%.

One still remaining constant is the unprecedented median sales price to list price which remains the same at 100%. Basically meaning that sellers are typically getting their exact asking price when it comes time to sell their home.

Our county saw a high sale of just over $7 million for a home on Sea Island in the Ocean Club North The highest price sale that we saw was for $9,450,000 and was for a home on Sea Island.

Residences.

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 and 659 beginning from the same previous with and higher interest rates andsubstantially. potentially We are to seemonths interestthe rates finallyyear. comeSodown coming down fairly fewer buyers in the market, the fact that we have slightly fewer listings for those buyers to choose Almost all forecasters expect interest from is helping our market stay strong.rates to continue to decline and for there to be a rush back into homebuying. Although our real estate market did soften, I attribute much of it to the time of Iyear am hopeful that interest rates will settle out and stop rising and hopefully even reduce slightly etc. but as many of you know, historically even a 7% interest rate is not all that dramatic. We have seen So,andespite the temporary slow down areinvery optimistic about this next in incredible run up in prices in ourwe area the last two years, sowhat for those that quarter need to will sell bring. this will still be a great time. And for those looking to buy in our area, they may be increasingly looking for that “deal“ that’s on the market.

We hope you enjoy reading this market report and enjoy the in-depth review of many of the beautiThrough this report you will get an in-depth review of many of the beautiful neighborhoods that ful neighborhoods that Imake county. make up Glynn County. hopeup youGlynn find this useful and informative.

John Hallman John Hallman

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

ST. SIMONS ISLAND HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

141

$690,000

3.14

88

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. Simons Island Neighborhoods

ISLAND CLUB HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

5

$1,420,000

3.01

84

HAMPTON PLANTATION HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

2

$857,500

9.09

104

St. Simons Island Neighborhoods

ST. SIMONS HEIGHTS HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

7

$762,500

.85

51

EAST BEACH HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

3

$2,225,000

4

52

St. Simons Island Neighborhoods

COAST COTTAGES HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

0

No Sales

-

-

SEA PALMS HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

6

$1,120,000

2.5

91

St. Simons Island Neighborhoods

HAMILTON LANDING HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

1

$1,985,000

9.06

42

HARRISON POINTE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

2

$744,500

3.03

125

St. Simons Island Neighborhoods

HAMPTON POINT HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

0

No Sales

-

-

FREDERICA GOLF CLUB HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

3

$2,961,168

4

72

JEKYLL ISLAND HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

5

$810,000

9.03

145

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

�VG DAYS ON MARKET

0

No Sales

0

-

THE COTTAGES AT JEKYLL

HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

1

$810,000

0

29

Jekyll Island Neighborhoods

VILLAS BY THE SEA HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

1

$300,000

12.12

258

THE MOORINGS AT JEKYLL HARBOR

HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

1

$705,000

15.15

251

Jekyll Island Neighborhoods

PLANTATION HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

0

No Sales

-

-

PALMETTO HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

0

No Sales

-

101

Jekyll Island Neighborhoods

PINE GROVE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

1

$841,500

-

113

JEKYLL BEACH HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

1

$925,000

3.03

72

SEA ISLAND HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

3

$5,010,000

21

145

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

�VG DAYS ON MARKET

0

No Sales

0

-

BEACH CLUB

OCEAN RESIDENCES HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

0

No Sales

0

-

Sea Island Neighborhoods

CLOISTER

OCEAN RESIDENCES HOMES SOLD

MEDIAN �CTIVE LIST PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

0

$1,700,000

-

119

*SOME FRACTIONAL/QUARTER OWNERSHIPS

OCEAN FOREST HOMES SOLD

MEDIAN �CTIVE LIST PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

0

$7,750,000

-

314

Sea Island Neighborhoods

SEA ISLAND COTTAGES HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

1

$5,010,000

6.06

398

RIVER CLUB HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

1

$2,850,000

0

36

BRUNSWICK HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

196

$274,950

2.51

78

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

�VG DAYS ON MARKET

0

No Sales

0

-

AVONDALE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

2

$266,000

3.03

91

Mainland - Brunswick Neighborhoods

BELLE POINTE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

3

$315,000

0

39

CARRIAGE GATE PLANTATION

HOMES SOLD

11

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

$408,300

4.37

99

Mainland - Brunswick Neighborhoods

CLEAR WATER HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

5

$370,000

1.20

189

COUNTRY WALK HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

3

$362,000

1

58

Mainland - Brunswick Neighborhoods

COVINGTON POINTE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

3

$367,999

3

86

CYPRESS RUN HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

2

$282,250

3.03

53

Mainland - Brunswick Neighborhoods

LAUREL GROVE PLANTATION HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

2

$503,500

0

62

LEXINGTON PLACE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

3

$370,000

1

57

Mainland - Brunswick Neighborhoods

MARSHES OF MACKAY HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

2

$482,500

1.51

69

OAK GROVE ISLAND HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

4

$558,500

3.75

146

Mainland - Brunswick Neighborhoods

OLD TOWN HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

4

$197,250

2.25

155

RIVERSIDE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

0

No Sales

-

-

Mainland - Brunswick Neighborhoods

SADDLE BROOKE HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

1

$297,000

0

49

TANGLEWOOD HOMES SOLD

0

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

No Sales

0

-

Mainland - Brunswick Neighborhoods

THE VILLAS THE COTTAGES AT GOLDEN ISLES AT JEKYLL

HOMES SOLD

1

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

$274,900

3.03

399

WINDSOR PARK HOMES SOLD

MEDIAN CLOSED SALES PRICE

MONTHS OF INVENTORY

�VG DAYS ON MARKET

2

$267,500

0

0

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