MARKET
TRENDS
GOLDEN ISLES
QUARTER 2 - 2024
A WORD FROM US
Greetings from hot and humid St Simons Island and the Golden Isles. We are experiencing unusually high temperatures for this time of year making some fearful of how hot it could possibly get in August but luckily we have lots of resources to keep us cool. The second quarter of the 2024 real estate market was equally as hot.
The number of home sold in Glynn County increased 21% from the first quarter to the second quarter. We had 418 residential home sales during April, May and June. Almost all factors across-the-board got better in this second quarter. The average diesel market decreased from 90 to 84 and the average list price to sale price rose to 98.7%. Fortunately we saw a large increase in the number of homes on the market. We had a 12% increase and we currently have 473 active properties on the market in our county. Our median home sale price also jumped in the second quarter and now sits at $431,075. This is a substantial rise in equity considering the median sale price for the month of May in the year 2020 was $238,500.
The high sale for the quarter and possibly ever for the entire county was $20 million for a 8700 square-foot golf and oceanfront home on Ocean Forest which is located on Sea Island.
The current average 30 year fixed mortgage interest rate sits at about 7.5% and while we hear that we could expect rates to drop into the sixes by the end of the year and into next year we have gotten accustomed to hearing this and have yet to see a rate decrease but we will remain optimistic for that.
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
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
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
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
*SOME FRACTIONAL/QUARTER OWNERSHIPS
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
BELLE POINTE
CARRIAGE GATE PLANTATION
CLEAR WATER COUNTRY WALK
COVINGTON POINTE CYPRESS RUN
LAUREL GROVE PLANTATION
PLACE
SADDLE BROOKE
TANGLEWOOD
GOLDEN ISLES