Is Tybee Island-Wilmington Island, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tybee Island-Wilmington Island is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Tybee Island-Wilmington Island has remained a Seller's Market.

Key Takeaway

Tybee Island-Wilmington Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Tybee Island-Wilmington Island, GA

How much do homes in Tybee Island-Wilmington Island, GA cost?

Median Sold Price

$450,000

$266/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$19,068(+4.4%)

Key Takeaway

Homes in Tybee Island-Wilmington Island have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Tybee Island-Wilmington Island was $450,000 in March 2024, up 4.4% from last year, and the median price per square foot was $266.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $205K$227.5K
+11.0%
2 $266.5K$280K
+5.1%
3 $410K$462.5K
+12.8%
4 $599.9K$557K
-7.2%
5+ $910K$829K
-8.9%

Summary: Tybee Island-Wilmington Island housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes decreased by 8.9%.

Median Sold Price Compared To Nearby Cities

Savannah
+18.4%
Thunderbolt
+15.0%
Montgomery
+13.8%
Tybee Island-Wilmington Island
+4.4%
Tybee Island
0.0%

Housing Supply in Tybee Island-Wilmington Island, GA

How many homes are available in Tybee Island-Wilmington Island, GA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
203260+28.1%

Summary: The Tybee Island-Wilmington Island real estate market had 260 homes for sale in March 2024, a 28.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1826
+44.4%
2 3338
+15.2%
3 7393
+27.4%
4 5876
+31.0%
5+ 2127
+28.6%

Summary: The Tybee Island-Wilmington Island housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 44.4%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 27.4%, 4 bedroom homes increased by 31%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2149+133.3%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tybee Island-Wilmington Island, you may be able to get a good deal. 53.1% of homes here sold below asking price last month.

Summary: A total of 49 homes were sold or pending in Tybee Island-Wilmington Island in March 2024, up by 133.3% month-over-month. Of the 49 sold homes, 53% were sold under asking, 35% were sold at asking, and 12% were sold over asking.

Days on Market for Tybee Island-Wilmington Island, GA

How long does it take to sell a home in Tybee Island-Wilmington Island, GA?

Average Sale Time

Mar 2023Mar 2024CHANGE
10 Days67 Days+575.0%

Summary: Homes in Tybee Island-Wilmington Island had an average of 67 days on market in Mar 2024, up by 575% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Tybee Island-Wilmington Island has remained consistent over time.

Summary: During March 2024, 49 homes were sold in Tybee Island-Wilmington Island; 0% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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