Savannah Real Estate Report

Savannah Real Estate

Find the perfect dream home in historic Savannah Georgia.  From downtown historic homes to waterfront properties on the barrier islands, there's something for everyone in the Hostess City of the South.  Prices in Savannah span from the 100s to the $1 Million+ range.

Savannah Real Estate

July 2021 Update


As we approach the middle of 2021, there are interesting short-term and long term trends in the Savannah Real Estate Market. Citywide during the month of June, 510 homes were sold at an average price $335,347. With the most expensive home selling for $2.65 Million, it's always important to look at the median price, rather than the average price.  In June 2021, the median home price was $258,595 citywide.  Sales prices were lower in June than in May when the average sales price was $351,845 and median sales price was $276,869.

For trends, it's always helpful to look at the trailing 3 month period and compare to both the prior 90 days as well as prior year for the same period. With that in mind, if we look at Savannah's sales data for the 90 day period ending June 30, 2021, data complied from the 1,496 home sales show an average price of $347,839 and a median price of $265,000.  The average is significantly higher than the median due to the number of multi-million dollar properties that sold during the period (one of which sold for $4.9 million).  Data compiled from the same period the previous year (April - June 2020) reveals 998 home sales in Savannah with an average price of $279,791 and median price of $233,541. So, the average home price is up more than 24% compared to last year, but keep in mind that was in the middle of the COVID-19 pandemic. 

We would typically expect most metrics to be higher for the past 90 days when compared to the previous period (Jan - Mar 2021) since there is usually more activity in the warmer months. Real estate sales data from the first quarter in Savannah, Georgia shows 1,108 sales with the average selling price being $334,230.

What's the bottom line for Savannah Real Estate as of the end of June?  The average sales price is up nearly 4% and this always makes sellers happy! 

Tybee Island

Thirty listings were sold on Tybee Island in June 2021, with the average sale at $617,655.  Six of the thirty properties sold for over $1 million. Average days on market was 298. The cheapest sale for for a 338 square foot condo that sold for $214,500 (which works out to be $606.51/sq ft).  The highest price Tybee Island Home sold closed at $1,475,000.

Isle of Hope

Isle of Hope is one of the most desirable neighborhoods in Savannah. It has a mix of homes from the middle part of the 20th century to today. Since this is a much smaller neighborhood, we're looking at data from the first six months of 2021. During that time, there were four Isle of Hope home sales at an average of $350,725.  The most expensive sale was $379,000 while the least expensive was $279,900.


Statistics gathered from Savannah MLS and public sources. information deemed reliable, not guaranteed.

Edward S. Burns, Broker
Southern Palm Properties

License # 374612

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