What the Heck Is Happening in Savannah’s Real Estate Market?

Let’s be honest—this market is weird. If you’ve been reading headlines or doomscrolling Reddit, it probably feels like the housing market is either about to crash or catapult into the stratosphere. So what’s really going on here in Savannah?

First, yes—it’s cooled off… a little.
Compared to the past few years, things have shifted. Sales are down 14.1% year-over-year, and homes are sitting longer—42 days on average, up from 20 last year. That’s not a meltdown; that’s just breathing room.
Inventory has doubled since this time last year, but we’re still technically in a seller’s market under $750,000. It’s just not the free-for-all it was.

So, is now a good time to buy?

If you’re renting, you’re paying 100% interest. Every month, that rent check is gone—forever. Homeowners, on the other hand, build equity and wealth over time. According to the Federal Reserve, the median net worth of a renter is $10,400, while the median net worth of a homeowner is $396,000. That’s almost a 40x difference. Owning real estate remains one of the most reliable paths to long-term financial growth.

But what about interest rates?

Yes, they’re higher than the ultra-low rates we saw during the pandemic. That’s no secret. But we’re already seeing sellers respond—nearly 40% of homes sold this quarter included concessions like paying buyer closing costs, and the median concession amount jumped $1,600 to $7,600. There’s opportunity here to negotiate and soften the monthly payment hit.
Prices aren’t crashing—but they’re more negotiable.

Savannah’s median sales price is up 5% from last year, now sitting at $355,000. That might feel surprising, but it makes sense. We’re seeing more price reductions—about 40% of homes took one before selling—but properly priced homes are still getting 100% of their list price and selling fast.

Translation: You can win as a buyer right now—especially if you know how to spot the overpriced homes and where the wiggle room is.

And hey—it’s not all bad news for sellers, either.
If you bought your home in 2020 or earlier, chances are you’re sitting on a pretty incredible amount of equity—that’s the difference between what your home is worth today and what you owe on it. Prices in Savannah have steadily climbed over the past decade, and even with a slower pace this year, most homeowners have gained serious ground. That equity can give you options: move up, move out, or cash in. If you're wondering what your home's really worth or how much you’ve gained, I can run the numbers. No pressure, just good info.

So what should you do?

If you’re hoping to buy this year or next, don’t try to "time the market" perfectly. That almost never works. Instead, think about your timeline. The longer you wait to buy, the longer you wait to build wealth. If you're paying rent, you're helping someone else do that.
This current market is a sweet spot: less chaos, more options, still steady appreciation. Rates may drop next year—but if prices climb or demand rebounds, you’ll be competing with way more buyers. (And yes, you can always refinance later.)
If you want to talk through your specific situation, I’m happy to help—no pressure, just clarity.