Market Continues to Improve on St. George Island

The real estate market on St. George Island continues to improve based on the latest numbers through August 31 from the Multiple Listing Service of the Realtor Association of Franklin & Gulf Counties.  Residential sales activity (number of transaction closed)  increased 4% year to date over 2012.  Average sales prices increased 9% over 2012.  Days on Market (DOM) decreased 18%, and inventory decreased 9% over 2012.

Real Estate Market Continues to Improve on St. George Island

I’m happy to report the St. George Island real estate market continues its improvement.  To date, the average sales price on SGI is $418,566; in 2012 the average sales price was $381,146.  This is a 10% increase!  The “days on market” number continues to decrease.  In 2012, the average DOM was 281.  This year to date the average DOM is 225, a 20% decrease.  These statistics cover all sales on SGI (residential, lots & land, commercial) and are based on data provided by the MLS of the Realtor Association of Franklin & Gulf Counties.

Sales Activity Strong on St. George Island

Last week was busy!  Got two of my lot listings under contract and one of my buyers placed a house under contract.   The final May numbers are in, and there were 25 transactions closed on St. George Island, compared to only 19 in May 2012.  The total dollar volume sold in May was $10,132,500, the highest month since August 2006.

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Residential Sales Activity Up 31% YTD on St. George Island

The real estate market has definitely recovered on St. George Island, Florida.   Year to date, there have been 55 total house sales.  Last year at this time, the number of closed houses sales was only 42.  (Time period is January 1 – May 21).  62% of the sales this year were in the $200,000 to $499,999 range.  Three sales were over a million dollars.

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