$9,797 Closing Credit*
$825,000
2,625 SqFt
3 Beds
•3 Full Baths
Vicki C. Mitchell, Listing Office: Mitchell & Associates
Is Savannah, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Savannah was a Seller's Market.
Key Takeaway
Savannah is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Savannah, GA
How much do homes in Savannah, GA cost?
Median Sold Price
$364,570
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$29,065(+8.7%)
Key Takeaway
Homes in Savannah have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Savannah was $364,570 in October 2024, up 8.7% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $215K | -21.8% |
| 2 Bedrooms | $238.2K | $249.6K | +4.8% |
| 3 Bedrooms | $309.1K | $328.9K | +6.4% |
| 4 Bedrooms | $395.7K | $429.9K | +8.6% |
| 5+ Bedrooms | $502.5K | $534.6K | +6.4% |
Summary: Savannah housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.8%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 6.4%.
Median Sold Price Compared To Nearby Cities
| Garden City | $225.2K | $258K | +14.5% |
| Savannah | $335.5K | $364.5K | +8.7% |
| Pooler-Bloomingdale | $341.7K | $350K | +2.4% |
| Pooler | $369.9K | $354.4K | -4.2% |
Housing Supply in Savannah, GA
How many homes are available in Savannah, GA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,293 | 1,410 | +9.0% |
Summary: The Savannah real estate market had 1,410 homes for sale in October 2024, a 9.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 35 | +12.9% |
| 2 Bedrooms | 161 | 177 | +9.9% |
| 3 Bedrooms | 559 | 613 | +9.7% |
| 4 Bedrooms | 386 | 413 | +7.0% |
| 5+ Bedrooms | 156 | 172 | +10.3% |
Summary: The Savannah housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 9.9%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 10.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 262 | 230 | -12.2% |
Asking Price vs. Sold Price
128 Homes Were Sold
Under Asking
60 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Savannah, you may be able to get a good deal. 56.1% of homes here sold below asking price last month.
Summary: A total of 230 homes were sold or pending in Savannah in October 2024, down by 12.2% month-over-month. Of the 228 sold homes, 56% were sold under asking, 26% were sold at asking, and 18% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 58 Days | +294.1% |
Summary: Homes in Savannah had an average of 58 days on market in Oct 2024, up by 294.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Savannah are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 230 homes were sold in Savannah; 3% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
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.