Is Savannah, TN 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 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
$225,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Savannah have sold for 2.1% less than they did a year ago.
Summary: The median home sold price in Savannah was $225,000 in April 2024, down 2.1% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $142.5K | N/A |
| 2 Bedrooms | $125K | $125.5K | 0.4% |
| 3 Bedrooms | $195K | $212.5K | +9.0% |
| 4 Bedrooms | $293.5K | $420K | +43.1% |
| 5+ Bedrooms | $300K | $370K | +23.3% |
Summary: Savannah housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 43.1%, and 5+ bedroom homes increased by 23.3%.
Housing Supply in Savannah, TN
How many homes are available in Savannah, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 112 | 131 | +17.0% |
Summary: The Savannah real estate market had 131 homes for sale in April 2024, a 17.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 14 | 15 | +7.1% |
| 3 Bedrooms | 63 | 73 | +15.9% |
| 4 Bedrooms | 23 | 29 | +26.1% |
| 5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The Savannah housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Savannah, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Savannah in April 2024, down by 10.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% 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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