Savannah Real Estate Market Report | June 29–July 5, 2026: Luxury Sales Push Average Prices Above $500K

The Savannah real estate market wrapped up the holiday week with steady sales activity, stable inventory, and a significant increase in average home prices. While fewer new listings and pending contracts were recorded, closed sales remained consistent, demonstrating that buyers continue to move forward despite seasonal shifts.

Here's a closer look at what happened across the Savannah MLS service area between June 29-July 5, 2026.

This Week's Takeaway

The market remained balanced over the holiday week. Inventory continued to grow modestly, closed sales held steady, and average home prices climbed sharply. While buyer activity slowed slightly, the overall market continues to show healthy conditions heading into the second half of the summer.

Key Market Statistics

• Active Listings: 3,340
• New Listings: 192 (down from 206 the previous week)
• Homes Under Contract: 177 (down from 182)
• Closed Sales: 209 (unchanged from last week)
• Average Days on Market: 78 (up from 75)
• Average Sales Price: $505,099 (up from $426,089)
• Price Reductions: 246 (down from 316)
• Expired Listings: 47

Inventory Remains Healthy

The Savannah MLS service area now has 3,340 active listings, providing buyers with a broad selection of homes across Savannah and the surrounding communities. Although new listings dipped slightly this week, inventory remains healthy and continues to support a balanced market.

For buyers searching for homes for sale in Savannah, the current inventory offers opportunities across a variety of price points and neighborhoods.

Buyer Activity Slows Slightly

Pending contracts declined modestly from 182 to 177 during the holiday week. Seasonal slowdowns are common around major holidays as many buyers delay showings and contract activity until schedules return to normal.

Even so, 209 homes closed, matching last week's total and demonstrating continued strength in transactions already under contract.

Home Prices Reach a New Weekly High

The average sales price rose to $505,099, the highest weekly average we've seen in recent months.

Weekly pricing can vary depending on the mix of homes that close during the reporting period. This week's increase likely reflects a greater number of higher-priced properties reaching the closing table rather than a sudden jump in overall home values.

What This Means for Buyers

Buyers continue to benefit from healthy inventory levels, giving them more opportunities to compare homes before making an offer. While the holiday week saw a slight slowdown in new contracts, well-maintained and competitively priced homes are still attracting attention.

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What This Means for Sellers

Seller conditions remain favorable. Although buyers have more options than earlier this year, the decrease in price reductions suggests many homes are entering the market with stronger pricing strategies.

Professionally marketed homes that are priced appropriately continue to perform well, even as buyers become more selective.

Savannah Real Estate Outlook

As we begin July, the Savannah real estate market remains stable and balanced. Inventory continues to support buyer choice, while steady closings demonstrate consistent demand. We'll continue monitoring buyer activity throughout the summer to see how seasonal trends influence inventory, pricing, and sales during the months ahead.

Frequently Asked Questions

Why did the average home price exceed $500,000 this week?

Weekly average prices can fluctuate depending on the types of homes that close during the reporting period. This week's increase likely reflects a larger number of luxury or higher-priced home sales rather than a dramatic increase in overall property values.

Is the Savannah real estate market slowing down?

Not necessarily. While pending contracts declined slightly during the holiday week, closed sales remained strong at 209 homes. Seasonal fluctuations around holidays are common and don't necessarily indicate a broader market slowdown.

Is now a good time to buy a home in Savannah?

Yes. Buyers continue to benefit from healthy inventory levels and a wide variety of available properties. Working with a knowledgeable local real estate professional can help you identify opportunities and navigate the market with confidence.

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 reliable trend comparisons. Learn more on our About Our Market Data page.

Market statistics are provided for informational purposes only. Real estate activity may vary 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 make confident real estate decisions through local expertise, trusted guidance, and data-driven market insights.

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Whether you're buying your first home, selling your current property, or relocating to Coastal Georgia, Harris Home Team is here to help.

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