Savannah GA Real Estate Market Report Dec 2013 / Jan 2014

Savannah Georgia is seeing a great increase in home prices and market values across the board, similar with the many markets throughout the country.  Currently, as of the publishing of this post, there are about 3600 homes for sale including properties, condominiums and manufactured homes, throughout the Savannah real estate area.

These properties are priced from about $4000 for lots and parcels of land to $5,475,000 for the highest priced single-family home in Savannah and $19,950,000 as the highest priced property for lots and land on Fort Argyle Road.

Currently the average listing price is $320,000, which is down about 2.2% over last week. The median sales price is up nearly 2% over last year at this time of $166,000. Of those homes for sale of about 1400 are foreclosures, short sales and bank owned properties.

The average price per square foot has risen to $101 or 4.1% year-over-year.

According to Movoto – the median days on market are currently 118 as opposed to last year this time, which was 166 days on the market.

The more popular neighborhoods in Savannah according to local MLS and Trulia continue to be the North and South historical district, Windsor Forest, Live Oak and Midtown.

2013 proved to be one of the best years in the last five years for our market. The highest over the last 10 years was in 2007 at $208,000 as the median sales price. We had our lowest in 2011 and since then have increasingly gone up.  The average price for a two bedroom is roughly $96,000; a three-bedroom is coming in at around $152,000; a four bedroom is roughly $294,000.

These are simply basic statistics for the area so to find out more information on your specific home in Savannah Georgia give me a call anytime. These numbers help buyers and sellers to not overpay and not overprice.