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RSS FeedHere's the Scoop on Real Estate in Glynn County, GA |
Jan. 23, 2009
Categorized in: Local Market Conditions
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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