Savannah Real Estate Market Report | August 3–9, 2026: Home Prices Rise as Inventory Remains Strong

The Savannah real estate market remained active during the first full week of August, with inventory increasing, average home prices rising, and buyers continuing to put homes under contract. While new listings, pending sales, and closings slowed compared with the previous week, the overall market continues to provide opportunities for both buyers and sellers.

Here’s a closer look at what happened across the Savannah MLS service area between August 3–9, 2026.

This Week’s Takeaway

Inventory remains healthy, giving buyers plenty of options as we move through late summer. Average home prices increased this week, while homes are taking longer to sell than they were earlier in the summer. For sellers, competitive pricing remains important as buyers have more choices and continue to compare properties carefully.

Key Market Statistics

• Active Listings: 3,430
• New Listings: 218 (down from 240 the previous week)
• Homes Under Contract: 181 (down from 192)
• Closed Sales: 163 (down from 206)
• Average Days on Market: 82 (unchanged from the previous week)
• Average Sales Price: $474,564 (up from $451,033)
• Price Reductions: 303 (up from 292)
• Expired Listings: 18

Inventory Continues to Grow

Active inventory increased from 3,401 to 3,430 listings this week, even as the number of new listings declined to 218.

For buyers searching for homes for sale in Savannah, that means there continues to be a healthy selection of properties available across different neighborhoods and price points.

For sellers, the growing number of active listings means standing out matters. Pricing, condition, presentation, and marketing can all influence how quickly a property attracts the right buyer.

Buyer Activity Eases

A total of 181 homes went under contract, down from 192 the previous week. Closed sales also declined from 206 to 163.

However, pending sales still exceeded closings by 18 this week, showing that buyers continue to enter into new contracts even as overall transaction activity cooled from the previous week's pace.

One week of slower activity does not establish a broader market trend, so we'll continue watching pending and closed sales as August progresses.

Average Home Price Moves Higher

The average sales price increased from $451,033 to $474,564 this week.

That is a notable week-over-week increase, but it does not necessarily mean Savannah home values increased by the same amount. Weekly averages can change significantly depending on the mix and price points of homes that happened to close during the reporting period.

Looking at pricing trends over several weeks provides better context than relying on a single week's average.

Homes Are Taking Longer to Sell

Average days on market held steady at 82 days, unchanged from last week.

While that number did not increase this week, it remains higher than the 63 to 78-day range we saw during several weeks earlier this summer. Combined with more than 3,400 active listings and 303 price reductions, buyers appear to have more room to compare their options.

What This Means for Buyers

Current inventory levels are giving buyers more choices in the Savannah area. That can create opportunities to compare properties more carefully and focus on finding a home that fits both your needs and budget.

Still, every neighborhood and price point behaves differently. A desirable, appropriately priced home can attract attention even when the broader market is moving at a slower pace.

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What This Means for Sellers

With 3,430 active listings and 303 price reductions this week, sellers should pay close attention to how their home compares with competing properties.

Strategic pricing from the beginning can be especially important in a market where buyers have choices. Strong presentation, professional marketing, and an understanding of recent comparable sales can also help position a property effectively.

Savannah Real Estate Outlook

The Savannah real estate market is entering late summer with growing inventory, steady pricing, and continued buyer activity.

This week's numbers show some cooling in new contracts and closings, but they also show rising active inventory and a higher average sales price. Rather than relying on any single statistic, we'll continue tracking these indicators together to better understand how the local market is changing as we approach fall.

Frequently Asked Questions

Are there more homes for sale in Savannah right now?

Active inventory increased to 3,430 listings this week. That gives buyers a healthy selection of available properties across the Savannah MLS service area.

Are Savannah home prices going up?

The average sales price increased to $474,564 this week from $451,033 the previous week. However, weekly averages can be influenced by the mix of properties that close, so one week's increase should not be interpreted as the same percentage increase in overall home values.

Is the Savannah real estate market slowing down?

Some activity slowed this week, with new listings, pending contracts, and closings all declining from the previous week. However, 181 homes still went under contract, and one week alone is not enough to establish a longer-term slowdown. Watching several weeks of data provides a clearer picture.

About This Market Report

Data Source: Savannah Multi-List Corporation (SMLC).

Market Area: Figures reflect residential real estate activity reported through the Savannah MLS service area, including portions of Chatham, Bryan, Effingham, and surrounding counties.

Methodology: Statistics are based on MLS-reported residential market activity and use a consistent methodology each week to provide meaningful week-over-week comparisons. Learn more on our About Our Market Data page.

Market statistics are provided for informational purposes only. Real estate conditions can vary significantly by neighborhood, property type, and price range.

About the Author

Alison Harris is a licensed real estate agent in the state of GA and Team Lead of Harris Home Team.

She helps buyers, sellers, and families relocating to the Greater Savannah area navigate their real estate decisions with local market knowledge and data-driven insights.

Ready to Make Your Move?

Whether you're buying, selling, or relocating to Coastal Georgia, Harris Home Team can help you understand what today's Savannah real estate market means for your specific situation.

Explore homes for sale in Savannah, neighborhood guides, relocation resources, and more at Newto912.com, or contact Harris Home Team for personalized guidance.