St Simons Island Sales Trend

Looking at some stats since we’re now officially into 4th Quarter of 2009.  Here’s a quick glance at the list price/actual sold trend for St Simons Island going back to the beginning of 2008.

Obviously, home prices are dropping but they seem to have leveled off to a certain extent, the largest drop being experienced between 2nd and 3rd quarter of 2008.  Keep in mind these are average figures combining both Single Family homes and Condominiums.

Some other stats include actual unit sales trends… which shows that 1stQ 2009 was our worst  performing period since 2008 and that activity has been picking up since then.

It will be interesting to see how 4th quarter wraps up this year. We have a  couple of things going on during 4th quarter, one being that 4th quarter tends to be slow due to the holidays.  This year, however, we have the Federal Tax Credit which currently applies to homes purchased before Dec. 1… statistics show that the tax credit is a factor in getting people off the fence. The National Association of REALTORS® has been lobbying for the extension of this tax credit into next year.  Not sure how many first-time homebuyers are actually buying on the Island… but there is increased activity with the growing number of foreclosures around the community.  Foreclosures… that’s a topic for another post altogether!

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Tagged as: average home sale prices, first time homebuyers tax credit, home sales trend, st simons island