The Golden Isles real estate market continues to trend in a positive direction. The third quarter numbers show home prices for Brunswick and mainland Glynn County are steady and rising slightly over last year, with new listings also up slightly. Sales and prices remain strong on Jekyll Island, with a growing demand for newer construction.
Roland Daniel, owner of Roland Daniel Properties, said the median price for homes in the Golden Isles is about $450,000, with a selling price of $391,000. During the third quarter, 301 new listings at a median price of $369,000 were listed.
There are currently single-family homes on the market for a median price of $369,000.
“We’re trending towards a seller’s market as inventory is down for quality homes, both old and new,” Daniel said. “The way I see it, the buyers’ market ended a couple of years after the Great Recession.”
Realtor Carol Pollock with Golden Isles Realty, said real estate sales have leveled out in Glynn County.
“It’s pretty much stable for the buyer and seller,” she said. “It brings stability to the area.”
During the third quarter, 348 homes sold at 95.17 percent of the asking price.
In Brunswick, 41 homes were sold last quarter. The average listing price was $135,371 and the average selling price was $127,521. Homes were on the market in Brunswick an average of 111 days, and sold for 91.6 percent of asking price.
In comparison, 32 homes were sold in Brunswick a year ago. They remained on the market an average of 71 days and sold for 91 percent of asking price.
In Central Glynn, 44 homes were sold last quarter, up slightly from a year ago. The average asking price was $140,743, and the average selling price was $136,539 — an estimated 95.5 percent. The homes stayed on the market an average of 102 days.
A year ago, 42 homes sold in Central Glynn for an average asking price of $129,459, and an average selling price of $123,418. Homes stayed on the market a year ago an average of 93 days.
The area with the strongest sales was North Glynn, where 87 homes sold for 98.4 percent of the asking price. The average listing price was $233,523, and the selling price was $229,117. Homes remained on the market 116 days.
A year ago, 124 homes were sold in North Glynn for 97.5 percent of the asking price. The average listing price was $244,436 and they sold for an average of $236,812. Homes stayed on the market an average of 95 days.
West Glynn also had the strong sales in terms of asking and selling prices. Sellers got 98.6 percent of their asking price for the 42 homes that sold in the third quarter. Homes were on the market an average of 106 days, with the average asking price of $253,473 and the average selling price of $248,091.
A year ago, 51 homes were sold in West Glynn during the third quarter, for an average 98.4 percent of the asking price.
On Jekyll Island, five single-family homes were sold in the third quarter. The average asking price was $584,120 and the average selling price was $583,815 — an average 97.2 percent of the asking price.
A year ago, 11 homes were sold on Jekyll Island, with sellers getting 99.8 percent of the asking price.
Multi-family condominium sales numbers area also comparable with last year. A year ago, two condos sold for more than the asking price in Brunswick. Seven condos sold for 94 percent of the asking price in Central Glynn, and one sold in North Glynn for 100 percent of the asking price.
This year, four condos in Brunswick were on the market an average of 126 days, selling for 99 percent of the asking price.
In Central Glynn, seven condos were on the market for an average 45 days, with an asking price of $157,186 and selling for an average of $137,343, or 91.9 percent of the asking price.
Seven condos were on the market an average of 234 days in North Glynn, selling for 95.4 percent of the asking price. A year ago, only one condo was sold during the third quarter.
Daniel said the high demand areas for housing are anywhere there is new construction, mostly in the Harrington/Bennie’s Red Barn areas.
“Also, anywhere one can buy a quality renovation or new home in south end St. Simons between the airport and beaches.”
The areas most in demand are the Pier Village and East Beach.
The selling points used by realtors include quality of life, natural environment, schools, health care and cheap mortgage money, Daniel said.
The most expensive homes continue to be on Sea Island and St. Simons Island, as well as in the Laurel Grove and Oak Grove Island neighborhoods on the mainland, he said.
The most affordable homes on St. Simons Island are on the mid-north area.
“Entry level pricing is in Glynn Haven,” Daniel said. “A few other older, single family ranches are to be had in St. Simons Heights and Wesley Oaks.”
Pollock said there is a good balance between supply and demand.
“Now, we’ve got some good inventory,” she said. “As long as the economy stays in place, we’ll be good.”
Daniel is also optimistic about the next quarter and beyond.
“Boomers won’t stop buying houses here, but the luxury end will continue to struggle where housing has obsolete features and floor plans. And, that’s the luxury end,” Daniel said. “People will pay for new, good quality housing in good locations. The trend in favor of sellers, thus in higher prices, will continue until there’s another recession.”