Home values in St. Simons Island are going up and fast, too.
Right off the ocean on St. Simons Island, close to the Pier Village shopping area, stands a historic and beautifully preserved monument, the St. Simons Lighthouse. The oldest brick structure in the region, still used today as an operational light by the U.S. Coast Guard, this towering lighthouse dates to 1807, and contains a rich amount of history about not just the island, but the entire South Georgia region.
That’s always been one of the great selling points about St. Simons and the rest of South Georgia. Visitors love coming here to see everything from the historic districts in Savannah to the surprisingly large number of historic sites that have been preserved on St. Simons Island, even though it’s only 18 miles long from one end to the other.
But if that richly preserved and maintained history is a key reason why tourism is a top employer here, the region is also thriving because of modern amenities as well. That includes an increasingly diverse economy and newly built homes that are helping to attract young families to move to the region.
In fact, the housing marking is thriving on St. Simons Island, the city of Brunswick, and in the rest of South Georgia today. Zillow, the real estate website, reports that as the nation’s economy keeps getting stronger; South Georgia offers home buyers a winning combination: a strong and vibrant housing market where values continue to rise – but where prices are still quite affordable, particularly compared to other metro areas in the country.
South Georgia home values have gone up by a solid 9.9% over the past year, and Zillow sees values rising an additional 7.7% in the next year. Values are also higher in Brunswick and on St. Simons Island. That means South Georgia and its Golden Isles barrier islands are a great investment for your long-term future.
What’s the State of the Housing Market in South Georgia?
In some areas of the county, the booming economy has sent home prices skyrocketing so dramatically that they’re almost completely out of reach for a lot of prospective homebuyers. Home sales in cities like San Francisco, New York and Seattle has slowed this year because prices are outside the reach of most people doing the house hunting.
That’s not the case, though, in South Georgia. This charming and historic coastal region, known for its natural beauty and southern hospitality, maintains a housing market where prices are well within reach of buyers.
St. Simons Island and Brunswick are in Glynn County, where the median home value is $193,100. Those values have been rising, up 11.3% over the past year. Zillow is predicting they should continue rising by another 4.5% in the next year.
The median home value in Saint Simons Island is higher, at $375,900, and home values on the island have gone up 5.7% over the past year. Zillow projects they will keep rising by 3.7% in the next year.
The price of homes in this area is diverse. In Brunswick, the median price of homes currently for sale is $209,900, while in Glynn County overall, the median price is $374,000. On St. Simons Island, the median list price is $486,250.
In fact, Zillow ranks the Glynn County housing market as “Very Healthy,” which includes a prediction that prices and values are certain to continue rising.
That means the people moving to South Georgia are finding good homes in a beautiful location – and at prices within their household budget. And one of the reasons why the housing market is doing so well is the strength of the region’s economy.
What Is the Job Market like in South Georgia?
South Georgia’s economy is becoming increasingly diverse. While tourism, fishing and home construction remain important mainstays of the local economy, there’s increasingly far more to the jobs base than that.
Georgia Southern University recently released its Economic Monitor, which analyzes data from the second quarter of 2018, to identify regional economic trends. While there’s been continued growth in tourism-related jobs, the data showed strength in retail sales and port activity as well.
Overall, the regional economy continued to expand at a healthy pace.
Tourism is still a large part of the economy here, and seasonal hotel room bookings have increased by 8.2 percent, while airport traffic rose by 11 percent. People still love visiting this region for their vacation. The local leisure and hospitality industry employs more than 26,000 workers.
The overall economy has been growing steadily since 2015, and the manufacturing sector is now at a three-year high, having added 200 workers for a combined total of 17,700. The construction industry continues to employ more than 7,500 area residents.
In addition, the fishing industry remains active and healthy. Both tourism and fishing point to key reasons why this region is growing: the abundance of outdoor and cultural attractions throughout South Georgia, and in Brunswick and St. Simons Island, in particular.
Is the Region Natural Beauty a Major Selling Point?
South Georgia and the Golden Isles barrier islands have an irresistibly mild climate that’s ideal for the tourism industry. Think topical 60 degrees temperatures in the winter time, which is unbeatable for year-round visits. And you’ll want to be outdoors a lot here: there’s still a stunning amount of nature to be found here, an island where popular attractions include paddling through swamplands, relaxing on the beach, and going on nature walks to see the wildlife that also calls this place home.
St. Simons Island is truly representative of the entire region’s strengths. Tourism is a thriving industry here, and visitors love coming here to explore the beaches, marshland and local wildlife that’s so abundant. Outdoor activities like fishing, boating, biking, golfing and deep-sea diving are all popular here.
The historic preservation that appeals to so many visitors is also quite prominent here, at not only that majestic lighthouse, but plenty of other sites offering a glimpse back into a century-old history.
But you can also enjoy the great beach town feel at Pier Village, a shopping center offering great antique and specialty stores, but also family-run restaurants that you can’t find anywhere else. Those restaurants are also great spots to find delectable seafood that comes right out of the ocean.
St. Simons Island is surrounded on all sides by historic Southern Oaks draped in Spanish Moss, which have survived for hundreds of years. And the beauty of the Atlantic Ocean is always in the background.
At the same time, St. Simons Island has home builders like Palmetto Building Group, which constructs single family homes, condominiums, townhouses and beach cottages, often with spectacular views of the ocean.
Home values in St. Simons Island is a great indicator of why South Georgia has such a vibrant and healthy housing market, and why this region continues to attract families looking for the kind of high quality of life that the area offers.
Homes values in St. Simons Island are rising… and for good reason, too. St. Simons Island is an amazing place to discover – for its natural beauty, spectacular views of the ocean, and historic landmarks.
There’s no surprise that this is also a place that a growing number of people want to call home.
If you’re looking at becoming a permanent resident of St. Simons Island, Palmetto Building Group has new, move-in ready single-family homes, cottages, condominiums and townhouses available, often with fabulous views of the marshes close by. We also have homes close to the Pier Village, or right near the beach.
Whatever it is that draws you to life on St. Simon’s Island, we have a home to match your concept of the ideal setting.
Contact us today at 912-266-8401 or email us at Palmettoleads@gmail.com to learn more. We look forward to hearing from you, but most of all, we’re thrilled to know you’re looking for a new home on one of the most spectacularly beautiful and historic parts of South Georgia.