Page 13 - Al Brown Newsletter

2020: Covid-19 pandemic. Mass migration to the south
coast begins. Back in May, 2020 I raised the question: Will
there be enough real estate here to meet demand? Due to
excess inventory at the time, many scoffed at this prediction.
However, now we find ourselves in a strong seller’s market
with plenty of momentum which will be a trend for the
foreseeable future. In previous cycles, greed came into play as
spec builders and property owners flooded the market, but
scarcity of land is now a factor in preventing a repeat of this
scenario. As long as Sea Island remains a desirable place to
visit and live, the demand will remain high.

Photo courtesy of the Coastal Georgia Historical Society.

2010: August. Sea Island
2004: G-8 Summit 2006: Opening of the “new” Cloister. Company files for bankruptcy. 2022: A new
at Sea Island. Sea Island becomes a gated community. December. Sea Island peak year,
Announcement Company is sold to Oaktree median
of condominium Capital, Avenue Capital, home price:
developments around Starwood Capital and the $5,325,000.
the Beach Club. 2007: Peak year. Median
home price: $3,190,000. Anschutz Corporation.

1926 1927 1928 1930 1973 1986 1987 1995 2001 2004 2006 2007 2008 2009 2010 2016 2020 2021 2022

2009: Rumors start 2021: Median home
2001: The Walker Cup at Ocean Forest. 2008: Global about the stability of price: $3,300,000.
Opening of The Lodge. financial crisis. Sea Island Company.

2016: June. The Anschutz
1995: Opening of Ocean Forest Golf Club. The offering of a purely private club was a huge deal family buys out the other
both for the club experience at Sea Island and also the fact that it took the last few hundred acres three investors to become the
“off the board” and now one could quantify the remaining real estate available on Sea Island. sole owner, putting company
Home sales increased in 1995 by 62% in number and in volume by 91%. This trend continued ownership into a 100-year
through the ‘90s. It also introduced quality real estate opportunities in a gated community setting, family trust. (Once again, we
the first of its kind by Sea Island. At that time, Sea Island was ungated, with unlimited access. are under family ownership,
which is where we belong.

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