Interesting Topics January 17, 2023

Savannah Market Review

The sky is not falling, and neither is our market!

I’m constantly being asked “so how is the market doing”, and I always enjoy being able to provide a factual answer, especially when it’s a positive one. Every market is different, but our Savannah market is still very strong, and the data supports that.

Over the past five years:
  • Sales Prices are up 65% with strong growth in 2022.
  • Prices per Sq Ft are up 66% with significant increases in 2022.
  • Days on market are down 55%, with 2022 ending similarly to 2021.
  • Inventory is down 57%. Low inventory continues to be the most significant challenge in the Savannah market.

With continued growth of the Savannah Port, tourism/hospitality, SCAD, and significant new investments in the area by Hyundai and other major multinational companies, 2023 is looking very positive as well. We continue to receive global recognition and accolades that further bolster the long-term outlook for the area.

If you are looking to move to (or within) the Savannah area, there is no reason to delay. There continue to be many investment options as well, whether it’s a vacation home or a commercial building. Here you have the opportunity to own a piece of history, not just a property.

My website always contains the most up-to-date market data for our area, so you can keep a check on the metro market or your own neighborhood. Just click on the “Market Data” tab. If you ever have a question, or would like additional information, I’m always happy to help.