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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Savannah is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Savannah has remained a Seller's Market.

Key Takeaway

Savannah is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Savannah, GA cost?

Median Sold Price

$278,914

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$29,095(+11.6%)

Key Takeaway

Homes in Savannah have sold for 11.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $250K$247K
-1.2%
2 $168.5K$188.9K
+12.1%
3 $220.5K$262.1K
+18.9%
4 $288K$330K
+14.6%
5+ $385K$432.9K
+12.4%

Median Sold Price Compared To Nearby Cities

Pooler
+21.7%
Garden City
+21.2%
Pooler-Bloomingdale
+19.7%
Savannah
+11.6%

How many homes are available in Savannah, GA?

Number of Homes For Sale

Oct 2022Nov 2022%
679650-4.3%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 1718
+5.9%
2 115101
-12.2%
3 308295
-4.2%
4 150152
+1.3%
5+ 8984
-5.6%

Number of Homes Sold

Oct 2022Nov 2022%
183123-32.8%

Asking Price vs. Sold Price

57 Homes Were Sold
Under Asking

27 Homes Were Sold
At Asking

35 Homes Were 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. 47.9% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
43 Days30 Days-29.5%

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Savannah are selling fast, if you're buying plan to act quickly.

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

About Savannah, GA

There are 650 homes are for sale in Savannah, GA real estate market. In November 2022 in Savannah, GA there were 4.3% less homes for sale than in October 2022. While the average time on the market in November 2022 was 30 days, the median list price was $278,914. Real estate listing prices changed between October 2022 and November 2022: 1 bedroom properties became 1.2% more cheaper, 2 bedrooms properties became 12.1% more expensive, prices of 3 bedrooms properties went up by 18.9%, the cost of 4 bedrooms properties went up by 14.6%, prices of 5 bedrooms properties went up by 12.4%. This housing market inventory have changed: volume of 1 bedroom homes went up by 5.9%, 2 bedrooms homes became 12.2% less available, volume of 3 bedrooms homes went down by 4.2%, volume of 4 bedrooms homes went up by 1.3%, number of 5 bedrooms homes decreased by 5.6%. While more than 35 listings in Savannah, GA in November 2022 were sold above asking price, there were more than 27 listings sold at asking price, and more than 57 were sold below.

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