The Corcoran Group is making its entrance into the Peach State, launching its first affiliate brokerage in Savannah, Georgia, according to an announcement made on Monday.
The new Corcoran Austin Hill Realty will be owned and led by Austin Hill and Stephanie Wilson-Evans.
“I’m thrilled that we’ve arrived in Georgia, let alone with such an established team that takes every opportunity to truly advocate for their agents and clients,” Pamela Liebman, the president and CEO of the Corcoran Group, said in a statement
Founded in 1987, the firm formerly known as Austin Hill Realty represented clients in Savannah with properties of all types, from luxury waterfront estates to commercial buildings and land. In 2020, Austin Hill Realty and Three Oaks Realty merged and relocated their combined office to the heart of Savannah’s Landmark Historic District.
“We share a philosophy of nurturing a company of outstanding agents who keep our clients at the center of everything we do,” Stephanie Wilson-Evans, vice president and broker of Corcoran Austin Hill Realty, said in a statement.
The firm is currently contracted to be exclusive residential real estate firm sponsor of Savannah’s new Enmarket Arena, which is scheduled to open later this month, and for the Savannah Ghost Pirates, a professional minor league ice hockey team that will begin their season this October at Enmarket Arena.
The oldest city in Georgia, Savannah’s historic charm, proximity to the beach and relatively low cost of living have been attracting buyers to the area for years. However, this trend has accelerated thanks to the recent record low mortgage rates. Coupled with the country-wide problem of low housing inventory, first-time homebuyers have been struggling to compete in the tight Savannah housing market. According to Realtor.Com, in December 2021, the median list price for a home in Savannah was $274,400, up nearly $15,000 from its pre-pandemic level.
In December of 2021, the Corcoran Group announced its entry into Texas, when it welcomed the Houston-based Corcoran Ferester Realty. Since launching in early 2020, the Corcoran Affiliate Network has added dozens of affiliates across the U.S. and the Caribbean. The brand now has more than 5,500 agents across more than 30 markets.