Is Savannah, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller'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
$164,000
-
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Savannah have sold for 38.1% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $106.2K | N/A |
| 2 Bedrooms | $240K | $145K | -39.6% |
| 3 Bedrooms | $229.9K | $181.5K | -21.1% |
| 4 Bedrooms | $635K | $235K | -63.0% |
| 5+ Bedrooms | $270K | - | N/A |
Summary: Savannah housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 39.6%, 3 bedroom homes decreased by 21.1%, 4 bedroom homes decreased by 63%, 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
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 108 | 116 | +7.4% |
Summary: The Savannah real estate market had 116 homes for sale in March 2024, a 7.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 12 | 16 | +33.3% |
| 3 Bedrooms | 60 | 63 | +5.0% |
| 4 Bedrooms | 23 | 24 | +4.3% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Savannah housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Savannah, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Savannah in March 2024, down by 9.1% month-over-month. Of the 10 sold homes, 70% were sold under asking, 0% were sold at asking, and 30% were sold over asking.
Days on Market for Savannah, TN
We’re sorry, we don't have information for this market at the moment
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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