Is Tybee Island-Wilmington Island, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$451,285
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tybee Island-Wilmington Island have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Tybee Island-Wilmington Island was $451,285 in May 2024, up 1.6% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $225K | +4.7% |
| 2 Bedrooms | $263.8K | $285K | +8.0% |
| 3 Bedrooms | $425K | $453K | +6.6% |
| 4 Bedrooms | $560K | $589.5K | +5.3% |
| 5+ Bedrooms | $852.5K | $829K | -2.8% |
Summary: Tybee Island-Wilmington Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Thunderbolt | $380K | $432.5K | +13.8% |
| Montgomery | $674.4K | $750K | +11.2% |
| Savannah | $323.1K | $354.9K | +9.8% |
| Tybee Island-Wilmington Island | $443.9K | $451.2K | +1.6% |
| Tybee Island | $659.5K | $660K | 0.1% |
Housing Supply in Tybee Island-Wilmington Island, GA
How many homes are available in Tybee Island-Wilmington Island, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 242 | 243 | 0.4% |
Summary: The Tybee Island-Wilmington Island real estate market had 243 homes for sale in May 2024, a 0.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 17 | +6.3% |
| 2 Bedrooms | 37 | 37 | 0.0% |
| 3 Bedrooms | 90 | 82 | -8.9% |
| 4 Bedrooms | 72 | 71 | -1.4% |
| 5+ Bedrooms | 27 | 36 | +33.3% |
Summary: The Tybee Island-Wilmington Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 51 | -19.0% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tybee Island-Wilmington Island, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 51 homes were sold or pending in Tybee Island-Wilmington Island in May 2024, down by 19.0% month-over-month. Of the 51 sold homes, 47% were sold under asking, 33% were sold at asking, and 20% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 22 Days | +542.9% |
Summary: Homes in Tybee Island-Wilmington Island had an average of 22 days on market in May 2024, up by 542.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tybee Island-Wilmington Island are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 51 homes were sold in Tybee Island-Wilmington Island; 2% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from the Georgia MLS © 2024. 
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.