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 2020

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

$249,708

$141/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2020

+$29,874(+13.6%)

Key Takeaway

Homes in Savannah have sold for 13.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2020Nov 2021%
1 $220.5K$250K
+13.4%
2 $147.5K$169K
+14.6%
3 $196.2K$220.1K
+12.1%
4 $249.9K$287.8K
+15.2%
5+ $314K$385.5K
+22.8%

Median Sold Price Compared To Nearby Cities

Savannah
+13.6%
Pooler
+13.0%
Pooler-Bloomingdale
+11.6%
Garden City
+10.1%

How many homes are available in Savannah, GA?

Number of Homes For Sale

Oct 2021Nov 2021%
789737-6.6%

Homes For Sale By Bedroom Count

# BEDSOct 2021Nov 2021%
1 3229
-9.4%
2 135122
-9.6%
3 373345
-7.5%
4 144145
+0.7%
5+ 10596
-8.6%

Number of Homes Sold

Oct 2021Nov 2021%
256233-9.0%

Asking Price vs. Sold Price

90 Homes Were Sold
Under Asking

43 Homes Were Sold
At Asking

94 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Savannah, you could pay more than the asking price. 41.4% of homes here sold above asking price last month.

Average Sale Time

Nov 2020Nov 2021%
46 Days37 Days-19.8%

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were 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.

About Savannah, GA

Number of homes for sale in Savannah, GA real estate market have reached 737. The number of listings in Savannah, GA decreased by 6.6% between October 2021 and November 2021. Listings spent 37 days on the market in November 2021, and had a median list price of $249,708 during the same period. This housing market listing prices have changed between October 2021 and November 2021: 1 bedroom properties prices increased by 13.4%, the cost of 2 bedrooms properties went up by 14.6%, prices of 3 bedrooms properties increased by 12.1%, the cost of 4 bedrooms properties went up by 15.2%, prices of 5 bedrooms properties increased by 22.8%. This housing market inventory have changed: number of 1 bedroom homes decreased by 9.4%, number of 2 bedrooms homes decreased by 9.6%, the quantity of 3 bedrooms homes went down by 7.5%, 4 bedrooms homes became 0.7% more available, 5 bedrooms homes became 8.6% less available. In November 2021 more than 94 listings in Savannah, GA were sold above the asking price. During the same period more than 43 listings were sold at asking price, while more than 90 were sold below.

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