The Greater Savannah Area Real Estate Scene: Your 30-Day Snapshot

Welcome to our latest update on the vibrant real estate market here in beautiful Savannah, GA!  Over the past month, the local housing landscape has been as dynamic as ever, with some intriguing shifts that both buyers and sellers will want to know about.  Let's take a look at the numbers and what they mean for you.

New Listings & Inventory Surge

First off, new listings in the Savannah area have shown a slight uptick of 1.2%, totaling 1,025 homes hitting the market.  This increase indicates a healthy flow of new opportunities for prospective buyers to explore.

Even more notable is the substantial 51.5% rise in inventory, now standing at 2,217 homes.  This influx means there's a wider selection of properties available across the city and its surrounding neighborhoods.  Whether you're looking for a historic gem downtown or a spacious suburban retreat, your options are increasing!

Market Activity & Prices

Despite the increase in inventory, pending sales have decreased by 12.9%, with 801 homes currently under contract.  This change suggests a slight cooling in the pace of transactions, offering buyers a bit more time at some price points to deliberate on their choices.

Meanwhile, the median sales price in The Greater Savannah Area has climbed by 4.1% from $336,000 to $349,000.  This upward trend highlights the continued desirability of properties in our area, reflecting both the appeal of Savannah's lifestyle and its strong real estate market fundamentals.

Days on the Market & Inventory Levels

The average days on the market have also seen a modest increase of 2.3%, now at 44 days.  This metric provides valuable insight into the speed at which homes are selling, giving sellers realistic expectations and buyers a guage of market competitiveness.

Moreover, the months supply of inventory has expanded by a significant 52.6%, now at 2.9 months.  This metric indicates the balance between supply and demand in the market; a figure under 6 months typically signals a seller's market, while a figure above 6 months leans towards a buyer's market.

What This Means For You

Whether you're thinking of buying or selling in The Greater Savannah Area, now is a great time to take advantage of the current market conditions.  With a healthy inventory, stable price growth, and a reasonable pace of sales, there are opportunities waiting for both buyers and sellers to make their move.

Get In Touch

If you're considering buying or selling soon, it's essential to have a local expert on your side.  Feel free to reach out to discuss the specifics of the market in the area you are interested in.  Our team is here to provide you with personalized insights and guide you through every step of your real estate goals.

P.S. Whether you are drawn to the historic charm of Downtown Savannah, the suburbs, the islands, or any other neighborhood in our area, don't hesitate to contact us.  We are here to help you navigate the market and find your perfect place to call Home.

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