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 2023

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.

Housing Prices in Savannah, GA

How much do homes in Savannah, GA cost?

Median Sold Price

$364,670

$215/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$25,007(+7.4%)

Key Takeaway

Homes in Savannah have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in Savannah was $364,670 in November 2024, up 7.4% from last year, and the median price per square foot was $215.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $275K$213.7K
-22.3%
2 $239K$249.8K
+4.5%
3 $311.8K$329.5K
+5.7%
4 $405.3K$425K
+4.8%
5+ $520K$540K
+3.8%

Summary: Savannah housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.3%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 3.8%.

Median Sold Price Compared To Nearby Cities

Garden City
+12.2%
Savannah
+7.4%
Pooler-Bloomingdale
+1.8%
Pooler
-4.2%

Housing Supply in Savannah, GA

How many homes are available in Savannah, GA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1,3811,458+5.6%

Summary: The Savannah real estate market had 1,458 homes for sale in November 2024, a 5.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 3640
+11.1%
2 173188
+8.7%
3 601621
+3.3%
4 405433
+6.9%
5+ 166176
+6.0%

Summary: The Savannah housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 6%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
238246+3.4%

Asking Price vs. Sold Price

137 Homes Were Sold
Under Asking

67 Homes Were Sold
At Asking

42 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. 55.7% of homes here sold below asking price last month.

Summary: A total of 246 homes were sold or pending in Savannah in November 2024, up by 3.4% month-over-month. Of the 246 sold homes, 56% were sold under asking, 27% were sold at asking, and 17% 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

Nov 2023Nov 2024CHANGE
39 Days52 Days+33.4%

Summary: Homes in Savannah had an average of 52 days on market in Nov 2024, up by 33.4% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Savannah has remained consistent over time.

Summary: During November 2024, 246 homes were sold in Savannah; 3% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

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

Report Updated 20 Days Ago

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MLS Disclaimers and Copyright

Based on information from Savannah Multi-List Corporation, Georgia MLS, Hinesville & Liberty County Multilist, First Multiple Listing Service Inc., and Golden Isles MLS for the period 12/01/2022 - 12/01/2024

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of the Savannah Multi-List Corporation. Real estate listings held by brokerage firms other than this broker are marked with the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. All properties are subject to prior sale, change or withdrawal and some properties which appear for sale on this web site may subsequently have sold and may no longer be available.. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Copyright 2024 Savannah Multi-List Corporation. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/21/2024, 10:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX Based on information from the Georgia MLS © 2024.

All information provided is deemed reliable but is not guaranteed and should be independently verified. GAMLS, this broker and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser GAMLS and this broker assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law.

DMCA Notice
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/21/2024, 10:21:00 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Copyright Hinesville Area Association of REALTORS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information is deemed reliable, but not guaranteed.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/21/2024, 10:16:10 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please Click Here to review our DMCA and learn how to submit a takedown request. Information is deemed reliable but is not guaranteed. © 2024 First Multiple Listing Service, Inc.

IDX Provided by Rocket Homes Real Estate, LLC
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/21/2024, 10:20:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Based on information from the Golden Isles Multiple Listing Service, Inc. This information is believed to be accurate, but without any warranty. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2024 Golden Isles Multiple Listing Service, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/21/2024, 10:16:09 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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