• Aug. 26, 2009 - July Statistics for Glynn County
I really enjoy reviewing statistical data. It can give an accurate picture without individual interpretation. That being said, I went into our local MLS system to compare the number of residential sold transactions in the whole of Glynn County and the average sales price for those recorded transactions for the last 5 years and found the following:
July 2009 – 81 transactions with an average sold price of $229,431
July 2008 – 68 transactions with an average sold price of $240,917
July 2007 – 120 transactions with an average sold price of $332,635
July 2006 – 177 transactions with an average sold price of $301,751
July 2005 – 161 transactions with an average sold price of $302,317
The US Census website shows the number of Glynn County residential building permits for the months of July for the last 5 years as follows:
July 2009 - 32
July 2008 - 37
July 2007 - 59
July 2006 - 68
July 2005 - 73
Our office keeps updated real estate statistics for Glynn County in an Excel worksheet and if you would be interested in reviewing, just give me a call and I’ll be happy to share with you. |
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• Apr. 13, 2009 - Statistics for end of 1st Quarter 2009 in Glynn County
Here we are at the end of our 1st quarter 2009 and I want to compare the statistics available in our local MLS system for this quarter to both the 4th quarter 2008 as well as to the statistical data for the 1st quarter end of 2008. The statistics below reflect residential sales in Glynn County and do not include land/lots transactions and commercial sales.
1st Quarter 2009 4th Quarter 2008 1st Quarter 2008
# of sales – 129 # of sales – 216 # of sales – 154
Avg. List - $244,751 Avg. List - $355,212 Avg. List - $389,496
Avg. Sold- $222,903 Avg. Sold -$327,318 Avg. Sold -$357,300
Avg. % to List – 91.0% Avg. % to List – 92.1% Avg. % to List – 91.7%
For the 1st quarter 2009, the Glynn County area with the most transactions closed was North Glynn County with 38 closed sales and an average sold price of $194,885 for that area. The St. Simons area with the most transactions was the South end with 12 closed and an average sold price of $331,741.
For the 4th quarter 2008, the most sold transactions were found again in North Glynn with 50 sales and an average sold price of $191,466. The St. Simons South end also had the most Island transactions number of 13 sales averaging $592,900.
At the end 1st quarter 2008, North Glynn had the County’s most transactions at 60 sold with and average sold price of $197,411. The South end of St. Simons had 26 sales recorded with an average closed price of $748,519 for that area of the Island.
To compare the amount of inventory from 2008 to 2009 for residential Glynn County, at the end of 1st quarter 2008, there were approx. 1762 properties on the market for sale. At the end of 1st quarter 2009, we had 1919 properties for sale on the Mainland and the Islands. These figures should echo what every realtor breathing has been saying, “We are in a Buyer’s Market with great inventory to choose from and better prices.”
Add to generous inventory and great prices, there is the 1st time homebuyer’s credit available that doesn’t have to be repaid as long as you stay in the home at least 3 years. If you are interested in more detailed information on any particular Glynn County area, please let me know and I will gladly provide. I hope if you have wanted to purchase a home or make a change in your current living arrangements, you will give Beachcomber an opportunity to assist you! |
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• Jan. 30, 2009 - What goes up must come down?
Even though this last year in real estate has had a sobering effect on many REALTORS® and our country as well, we can assert a few things.
Cycles are a natural course for the economy. Perhaps this recession has been more severe than some, but ups and downs are a normal part of life.
Perhaps many Americans needed some return to staying on a budget and “living within their means” and evaluating more carefully before we spend. A return to minimizing debt and saving more is not a bad thing.
Real estate, even factoring in some reduction of property values in some areas, still remains for most individuals the most significant asset in their portfolio. I firmly maintain that a real estate investment is a tangible and usually safe way to grow your money for future years.
I hope that the months ahead will reflect an upswing and we can all get on with life and business as usual, albeit a more cautious approach to our financial well-being.
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• Jan. 23, 2009 - Here's the Scoop on Real Estate in Glynn County, GA
Hello Friends:
Here we are in a brand new Year with high hopes for our Nation, our personal and business successes and for a better economy. I recently reviewed the 4th Quarter 2008 statistics available from our local MLS system and wanted to share this information.
Please note that certainly all real estate transactions in Glynn County, GA are not in our system, but the information can be a good indicator of what the trends are in our local market.
The Brunswick Mainland areas came in at an average list price of $166,391 at 4th Quarter end, and at 3rd Quarter 2008 the figure was $166,983. The average sold transaction figures were $154,869/4th quarter and $160,562 at 3rd Quarter’s end. Therefore the sold properties for 4th Quarter brought 93% of the asking price compared to 96% ask to list for the 3rd Quarter. Also interesting and very significant is the change in number of sold transactions for Year 2008 from 2007 Year’s End: 2008’s total number of Brunswick Mainland transactions was 584 compared to 910 sold transactions for the same areas in 2007.
For St. Simons Island, the average list price for 4th Quarter 2008 was $509,094 and 3rd Quarter end was $485,865. The average sales price for St. Simons for 4th Quarter was $465,565 compared to $456,181 at 3rd Quarter end. The sold price compared to list price percentage for 4th quarter end was 91% and 93% of list price for the solds in 3rd Quarter for St. Simons. In Year 2008 there were 225 sold transactions recorded compared to 401 in Year 2007.
I will note I have not included Jekyll Island nor Sea Island in these sales comparisons as they are both very atypical areas---Jekyll Island being a GA State Park and Sea Island does not typically include their sales in our MLS system but mainly markets their own. I would be happy to answer any questions or provide data if anyone would be interested in inquiring about a property or values on either Jekyll Island or Sea Island but they are not factored in the above information.
I, as a REALTOR® and broker on St. Simons Island, am very hopeful that our market will begin to turn upwards in the Spring and Summer. But regardless, I am in for the long haul and will continue to market this phenomenal and magical area of the World as I believe it a very special place and one that I enjoy sharing!
Best Wishes for a Great 2009!  |
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• Nov. 10, 2008 - Real Estate is Local
We hear regularly from the news media the state of the real estate market nationally and perhaps about a given region, but if you are here in Southeast Coastal GA, your interest is exclusively right here unless you are entertaining a move or purchase of a 2nd home or property elsewhere. I believe buyers and sellers are sick and tired of the commonplace answer “Well, the Market is a little slow” or “Properties aren’t moving as quickly right now.” Instead of vague statements they really want definite statistics and information, even if those statistics aren’t heartening, we all want real figures and specific info.
To compare statistics for mid October 2007 to mid October 2008, I found the following:
On St. Simons Island, in the residential sector of our MLS system, in 2007 there were 850 active listings compared to same timeframe 2008 of 900 listings. On the mainland Brunswick and Jekyll Island there were 854 properties being marketed on our MLS in 2007 and 996 in 2008. With increased inventory on the market, competition is fierce and pricing competitively is key.
On St. Simons Island, the average list for the 3rd Qtr. was $637,166 for 2007 compared to a 3rd Qtr. average of $515,890 for 2008. Lets compare the average sold numbers for 3rd Qtr. for St. Simons Island: In 2007 the average was $604,477 (94.8% of list) and for 2008 the average sold was $476,860 (92.4%)
The Brunswick Mainland and Jekyll figures were an average list for the 3rd Qtr. of $252,246 for 2007 compared to an average list 2008 of $223,816. To compare the sold transactions for the 3rd quarter for both years: 2007 / $243,770 which was 96.6% of the list price. 2008 / $214,751 which was 95.9% of the asking price.
To compare market trends October 2007 and 2008, I found the following:
In 2007, the price range that experienced the most transactions was the $140,000 - $159,999 price range. For 2008, the price range of $120,000 - $139,999 had a small proportion over the $140,000-$159,000 range. Condo sales were down for the month of October 2008 with 24 condo sales in 2007 and only 9 in October 2008.
Once more, I maintain that NOW is a great time for buyers to jump into the pool. For sellers, even though they may not sell their property for the price they would have received a year or 2 ago; neither will they pay as much for another property that better suits their needs today.
If you would be interested in receiving more information or discussing your specific situation, please give me a call! |
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