Glynn County Housing Market Trends – April 2024

The Glynn County housing market continues to see strong buyer demand in April 2024. This report, compiled by GAR, shows positive trends for both single-family homes and townhouses/condos.

Market Highlights:

• Increased Sales Activity: There was a significant rise in new listings year-over-year, with a 63% increase for single-family homes and a 63.6% increase for townhouses/condos. Pending sales also rose, indicating continued buyer interest.
• Faster Selling Homes: The average number of days on market has decreased for both single-family homes (down 13.4%) and townhouses/condos (down 10%). This suggests a competitive market where homes are selling quickly.
• Rising Prices: The median sales price for single-family homes climbed to $398,000, a 3.4% increase from last year. Townhouses/condos also saw a price increase, with a median sales price of $475,000, reflecting a 16.3% jump.
• Sellers Market: Inventory remains low, with a 3.1-month supply for single-family homes and a 3.7-month supply for townhouses/condos. This seller-friendly market is reflected in the high percentage of list price received by sellers (over 99% for both property types).

Looking Ahead:

The Glynn County housing market shows no signs of slowing down. With high buyer demand and limited inventory, sellers can expect to receive strong offers. However, with rising interest rates, potential buyers may want to act quickly to secure a home at a competitive price.

Disclaimer: This information is for educational purposes only and should not be considered financial advice. Always consult with a qualified mortgage professional to discuss your individual needs.