Everyone wants to own a Sea Island Cottage!
You can see that there are very few Sea Island Cottages available today. Supply is at an all-time low. The three above are each located north of the roundabout at 36th street. DEMAND for Sea Island cottages escalated during the pandemic and remains strong. In the last 12 months, there have been 74 Cottages sold and there are currently 3 cottages available and 6 cottages under contract.
The Chart below represents what has sold in the last 12 months and compares it to the previous (year over year) 12 month period. It groups the cottage sales by the view and by location on Sea Island. Both are great indicators of value. The number of units sold increased to 74 from the previous year's total of 42, a 76% increase in the number of sales. Ocean Forest saw the largest year-over-year increase in the number of sales.
Where are the buyers coming from?
Sea Island vacationers and cottage owners come from all over the United States and the world to enjoy the 5 Diamond amenities at the Cloister Hotel, the beautiful Sea Island Beach and Beach Club, and the famed Sea Island Golf Course and Avenue of the Oaks.
How many Cottages and Condos are on Sea Island?
There are approximately 560 Sea Island Cottages and 110 Ocean Forest Cottages and over 225 Townhomes, Villas and Suites on Sea-Island. Many of Sea Island’s fine homes were built in the last century and some need significant renovation. Each year several are sold for tear down to make way for new construction. This past year we have seen several recently renovated and newly constructed homes come on the market and sold for a significant premium. We monitor new construction and major renovations so that when a Sea Island Cottage is going to be resold, we want our buyer clients to know first.
What drives pricing on Sea Island homes?
Location, View, and Condition. To better understand trends in value - we categorize each property by its View: Ocean, Marsh/Lake and Interior; and divide Sea Island into three areas based on proximity to the Beach Club: 4th-18th St; 19th -36th St and 37th - 56th Street. - In general, homes located closer to the ocean or marsh and closer to the Cloister and Beach club have higher values.
Who should we contact to learn more about Sea Island Real Estate?
Page Aiken leverages experience and resources (including its own proprietary database of Sea Island cottage information) and provides his clients with the very best Sea Island market intelligence and acquisition strategy available. Utilizing his extensive marketing resources of LUXVT and an international footprint of integrated offices throughout the US, Europe, Middle East and Asia, Page Aiken provides the broadest exposure to potential buyers for every Sea Island home they represent.