The third quarter of 2017 closed with some encouraging statistics in the residential home sale market, for St. George Island as well as for all of Franklin County.
According to statistics from the MLS owned by Realtor® Association of Franklin and Gulf Counties, from January 1 through the end of September, 2017, there were 2.2% more home sale transaction in Franklin County than in the same period of 2016, and the volume based on closed sale prices was up by 13.9%. On St. George Island, the year-to-date home transactions were up by 3.7% and the volume of closed sale prices was up by 18.2%.
Statistics for the third quarter, July through September, are similarly encouraging. The number of Franklin County residential transactions for that period dropped by 6.6% (compared to the same period of 2016), but for St. George Island the number increased by 6.7%. More importantly, the volume based on closed sale prices increased by 22% for Franklin County, and by 28.3% for St. George Island. The improved volume, coupled with the modest increase in number of transactions, is an indicator that prices are going up. That is good news for home owners, and a warning to potential buyers that the long-standing buyers’ market may be shifting soon. We expect the year to end with more activity as buyers scramble to buy before prices go up.
The sales professionals of The Naumann Group Real Estate contributed substantially to the improving residential real estate market statistics. Market Share for The Naumann Group for the first nine months of 2017 is 13.73% of transactions and 18.86% of volume. For St. George Island the market share for the first nine months of 2017 is an impressive 25.30% of all residential transactions and 22.67% of sold price volume.
We are proud to share that Pandora Schlitt (LEFT) continues to rank as the #1 producing Realtor® for all of Franklin County, and Kara Landiss (RIGHT) as the #2 producing Realtor®, out of 91 agents and teams within the Realtor® Association active in the Franklin County real estate market.