Is Savannah, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Savannah is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Savannah has remained a Buyer's Market.

Key Takeaway

Savannah is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Savannah, TN

How much do homes in Savannah, TN cost?

Median Sold Price

$232,000

-

Based on all homes sold in May 2024.

Difference Since Last Month

-$43,000(-15.6%)

Key Takeaway

Homes in Savannah have sold for 15.6% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 $345K-
N/A
2 $315K$104.5K
-66.8%
3 $221.5K$232K
+4.7%
4 $290K$621.5K
+114.3%
5+ --
N/A

Summary: Savannah housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 66.8%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 114.3%, and 5+ bedroom homes did not change.

Housing Supply in Savannah, TN

How many homes are available in Savannah, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
121136+12.4%

Summary: The Savannah real estate market had 136 homes for sale in May 2024, a 12.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 1514
-6.7%
3 6571
+9.2%
4 2834
+21.4%
5+ 1217
+41.7%

Summary: The Savannah housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 41.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1218+50.0%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Savannah, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Savannah in May 2024, up by 50.0% month-over-month. Of the 18 sold homes, 89% were sold under asking, 6% were sold at asking, and 6% were sold over asking.

Days on Market for Savannah, TN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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MLS Disclaimers and Copyright

Based on information from Memphis MLS, and RealTracs Middle Tennessee Regional MLS for the period 04/01/2024 - 06/01/2024

Copyright© 2024 Memphis Area Association of REALTORS. The information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the consumer may be interested in purchasing. Information deemed reliable, but is not guaranteed accurate. Some or all of the listings displayed may not belong to the firm whose web site is being visited.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/2/2024, 5:20:32 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX© 2024 of the REALTRACS MLS. All rights Reserved.

The data relating to this real estate for sale on this websites comes in part courtesy of the IDX program of the REALTRACS MLS. Real estate listings held by brokerage firms other than this broker are marked with the REALTRACS IDX Logo. REALTRACS and this broker deem all information reliable but not guaranteed, and should be independently verified. REALTRACS and this broker assume no responsibility for typographical errors, misprints or misinformation.

REALTRACS, this broker and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/2/2024, 12:48:31 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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