Is Savannah, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Savannah has remained a Seller's Market.
Housing Prices in Savannah, GA
How much do homes in Savannah, GA cost?
Median Sold Price
$354,025
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Savannah was $354,025 in April 2024, up 18.1% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $242.5K | +15.5% |
2 Bedrooms | $206.6K | $249.6K | +20.8% |
3 Bedrooms | $285K | $322.1K | +13.0% |
4 Bedrooms | $360.4K | $420.6K | +16.7% |
5+ Bedrooms | $499.1K | $509.1K | +2.0% |
Summary: Savannah housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.5%, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
Savannah | $299.8K | $354K | +18.1% |
Pooler-Bloomingdale | $314.7K | $348.6K | +10.8% |
Pooler | $339.9K | $362.7K | +6.7% |
Housing Supply in Savannah, GA
How many homes are available in Savannah, GA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,184 | 1,259 | +6.3% |
Summary: The Savannah real estate market had 1,259 homes for sale in April 2024, a 6.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 36 | 33 | -8.3% |
2 Bedrooms | 164 | 186 | +13.4% |
3 Bedrooms | 539 | 541 | 0.4% |
4 Bedrooms | 303 | 337 | +11.2% |
5+ Bedrooms | 142 | 162 | +14.1% |
Summary: The Savannah housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.3%, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 14.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
295 | 330 | +11.9% |
Asking Price vs. Sold Price
148 Homes Were Sold
Under Asking
91 Homes Were Sold
At Asking
90 Homes Were Sold
Over Asking
Summary: A total of 330 homes were sold or pending in Savannah in April 2024, up by 11.9% month-over-month. Of the 329 sold homes, 45% were sold under asking, 28% were sold at asking, and 27% were sold over asking.
Days on Market for Savannah, GA
How long does it take to sell a home in Savannah, GA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
44 Days | 27 Days | -37.8% |
Summary: Homes in Savannah had an average of 27 days on market in Apr 2024, down by 37.8% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 330 homes were sold in Savannah; 7% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.