MARKET
TRENDS
GOLDEN ISLES
QUARTER 1 - 2024
A WORD FROM US
Greetings from sunny Saint Simons Island and all of the Golden Isles. We are experiencing some fantastic spring weather and moderate temperatures and looking forward to a positive real estate market for the rest of 2024 as we reflect back on the first quarter.
While the number of sales that occurred in Glynn County was essentially identical in the first quarter of 2024 compared to that of the last quarter of 2023 we are seeing increased inventory on the market. We have seen a rise in inventory in all three months of this first quarter. We did see a pretty drastic increase in the median sale price in this first quarter as well. The median sale price for all homes sold for the first quarter rose just over 10% to a value of $415,000. The median percentage which sellers can expect to receive versus their list price remained virtually unchanged at 98.6%.
The high sale for the quarter was a home in Frederica Golf Club which sold for $6,000,000 setting a record high sale price for that neighborhood as well.
Apparently our countries’ inflation is not edging downward as much as hoped so the Fed has indicated that it will not be cutting interest rates as was forecasted and was hoped by all so it appears that mortgage interest rates will remain in the 7% to 7.5% range for the time being.
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.
John Hallman President Engel & Völkers Golden Isles
GOLDEN ISLES
ST. SIMONS ISLAND
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
MONTHS OF INVENTORY 3.26 MEDIAN CLOSED SALES PRICE $739,500 HOMES SOLD 158 �VG DAYS ON MARKET 99
ISLAND CLUB MONTHS OF INVENTORY 3 MEDIAN CLOSED SALES PRICE $1,375,000 HOMES SOLD 6 �VG DAYS ON MARKET 73 HAMPTON PLANTATION MONTHS OF INVENTORY 5.42 MEDIAN CLOSED SALES PRICE $950,000 HOMES SOLD 5 �VG DAYS ON MARKET 161 St. Simon’s Island Neighborhoods
ST. SIMONS HEIGHTS EAST BEACH MONTHS OF INVENTORY 3.75 MEDIAN CLOSED SALES PRICE $2,500,000 HOMES SOLD 4 �VG DAYS ON MARKET 40 St. Simon’s Island Neighborhoods
SEA PALMS MONTHS OF INVENTORY 3 MEDIAN CLOSED SALES PRICE $775,000 HOMES SOLD 3 �VG DAYS ON MARKET 54 COAST COTTAGES MONTHS OF INVENTORYMEDIAN CLOSED SALES PRICE $1,300,125 HOMES SOLD 2 �VG DAYS ON MARKET 152 St. Simon’s Island Neighborhoods
HAMILTON LANDING MONTHS OF INVENTORY 3.03 MEDIAN CLOSED SALES PRICE $1,415,000 HOMES SOLD 2 �VG DAYS ON MARKET 91 HARRISON POINTE MONTHS OF INVENTORY 0 MEDIAN CLOSED SALES PRICE $635,000 HOMES SOLD 2 �VG DAYS ON MARKET 114 St. Simon’s Island Neighborhoods
HAMPTON POINT MONTHS OF INVENTORY 9.09 MEDIAN CLOSED SALES PRICE $937,500 HOMES SOLD 1 �VG DAYS ON MARKET 52 FREDERICA GOLF CLUB MONTHS OF INVENTORY 1 MEDIAN CLOSED SALES PRICE $2,895,000 HOMES SOLD 9 �VG DAYS ON MARKET 257 St. Simon’s Island Neighborhoods
JEKYLL ISLAND
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
MONTHS OF INVENTORY 5.33 MEDIAN CLOSED SALES PRICE $624,500 HOMES SOLD
�VG DAYS ON MARKET 123
9
MONTHS OF INVENTORY 0 MEDIAN CLOSED SALES PRICE No Sales HOMES SOLD 0 �VG DAYS ON MARKET0 No Sales 0Jekyll Island Neighborhoods OCEAN OAKS AT JEKYLL THE COTTAGES AT JEKYLL
MONTHS OF INVENTORY 7 MEDIAN CLOSED SALES PRICE $295,000 HOMES SOLD 3 �VG DAYS ON MARKET 132 MONTHS OF INVENTORYMEDIAN CLOSED SALES PRICE No Sales HOMES SOLD 0 �VG DAYS ON MARKETVILLAS BY THE SEA THE MOORINGS AT JEKYLL HARBOR Jekyll Island Neighborhoods
MONTHS OF INVENTORY 9.09 MEDIAN CLOSED SALES PRICE $815,000 HOMES SOLD 1 �VG DAYS ON MARKET 172 MONTHS OF INVENTORY 1.51 MEDIAN CLOSED SALES PRICE $688,250 HOMES SOLD 2 �VG DAYS ON MARKET 63 PALMETTO PLANTATION Jekyll Island Neighborhoods
MONTHS OF INVENTORYMEDIAN CLOSED SALES PRICE $1,465,000 HOMES SOLD 1 �VG DAYS ON MARKET 175 JEKYLL BEACH PINE GROVE Jekyll Island Neighborhoods
SEA ISLAND
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
MONTHS OF INVENTORY 11.44 MEDIAN CLOSED SALES PRICE $4,300,000t HOMES SOLD 5 �VG DAYS ON MARKET 61
Sea Island Neighborhoods MONTHS OF INVENTORY MEDIAN CLOSED SALES PRICE HOMES SOLD �VG DAYS ON MARKET BEACH CLUB OCEAN RESIDENCES BEACH CLUB GARDEN RESIDENCES
15.15 $1,025,000 1 172
*SOME FRACTIONAL/QUARTER OWNERSHIPS
OCEAN
CLOISTER OCEAN RESIDENCES
FOREST
Sea Island Neighborhoods
MONTHS OF INVENTORY MEDIAN CLOSED SALES PRICE HOMES SOLD �VG DAYS ON MARKET 0
0 RIVER CLUB SEA ISLAND COTTAGES Sea Island Neighborhoods
$3,175,000 1
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
AUTUMN’S WOODS
AVONDALE
BELLE POINTE
CARRIAGE GATE PLANTATION
Mainland - Brunswick Neighborhoods
CLEAR WATER COUNTRY WALK
Mainland - Brunswick Neighborhoods
COVINGTON POINTE CYPRESS RUN
Mainland - Brunswick Neighborhoods
LAUREL GROVE PLANTATION
PLACE
Mainland - Brunswick Neighborhoods
LEXINGTON
3.86 $565,000 7 91 MARSHES OF MACKAY OAK GROVE ISLAND Mainland - Brunswick Neighborhoods
Mainland - Brunswick Neighborhoods MONTHS OF INVENTORY 1.80 MEDIAN CLOSED SALES PRICE $412,000 HOMES SOLD 5 �VG DAYS ON MARKET 78 1 $650,000
133 OLD TOWN RIVERSIDE
3
SADDLE BROOKE
TANGLEWOOD
0 $280,000 1 29 WINDSOR PARK THE VILLAS AT GOLDEN ISLES Mainland - Brunswick Neighborhoods
100 Redfern Village | St. Simons Island, GA | 31522 (912) 634-0595 | evgoldenisles.com We are Engel & Völkers Golden Isles
GOLDEN ISLES