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Happy January! 2022 is here, & with it, a new market update. December is usually a slower real estate month due to all the holidays and travelling, but 2021 actually ended with a bang. Let’s take a look, starting first with general trends and then dialing in on trends in your neighborhood.

General Market Trends

For the month of December in the entire Savannah MLS (which covers all of Chatham, Effingham, Bryan, and parts of Long and Liberty Counties), we have seen the following:

  • 951 new listings, compared to 1,044 new listings in November & 902 new listings this time last year (in December 2020)
  • 1,132 homes sold, compared to 972 homes sold in November & 979 homes sold this time last year (in December 2020).

There were 1,555 homes on the market in December, for a total of 1.5 months of inventory. In a balanced market, we expect to see 6 months of inventory, so we are still very much in a seller’s market. (We’re actually seeing an even lower inventory in January – 1.3 months – while buyers start coming out of the woodwork ready to house-hunt in the new year.)

Here, we can see the trends from the last 5 years of months of inventory (in blue – remember, the balanced market is right around 6 months) & median home sale prices (in green).

And this chart shows us the trends, also over the last 5 years, of the amount of new listings (green) & sold houses (blue).

Here is our index of neighborhoods:

  1. Ardsley Park/Chatham Crescent/Baldwin Park/Parkside
  2. The Islands
  3. Historic Districts
  4. Starland/Thomas Square/South Victorian District
  5. Eastside
  6. Pine Gardens/Savannah Gardens/Avondale “The States”/Victory Heights
  7. LaRoche/Fernwood/Glynnwood/Savannah State/Skidaway Terrace/Magnolia Park/Thunderbolt
  8. West Savannah
  9. Cloverdale/Tremont Park/Liberty City
  10. Cuyler Brownsville/Cann Park
  11. Midtown
  12. Southside
  13. Georgetown/Chevis/Little Neck
  14. The Landings/Isle of Hope/Dutch Island/Burnside Island
  15. Berwick/Southbridge
  16. Garden City/Old Port Wentworth
  17. New Port Wentworth/North Pooler
  18. Pooler/Bloomingdale
  19. Rincon
  20. Guyton/Springfield
  21. Richmond Hill
  22. Keller
  23. Midway
  24. Hinesville

1. Ardsley Park/Chatham Crescent/Baldwin Park/Parkside

  • 36 new listings
    • 23 new listings in November 2021
    • 19 new listings this time last year (December 2020)
  • 19 properties sold
  • Average sale price: $395k

2. The Islands

  • 40 new listings
    • 52 new listings in November 2021
    • 40 new listings this time last year (December 2020)
  • 71 properties sold
  • Average sale price: $508k

3. Historic District

  • 29 new listings
    • 28 new listings in November 2021
    • 24 new listings this time last year (December 2020)
  • 20 properties sold
  • Average sale price: $847k

4. Starland/Thomas Square/South Victorian District

  • 14 new listings
    • 23 new listings in November 2021
    • 13 new listings this time last year (December 2020)
  • 21 properties sold
  • Average sale price: $573k

5. Eastside

  • 19 new listings
    • 18 new listings in November 2021
    • 13 new listings this time last year (December 2020)
  • 13 properties sold
  • Average sale price: $209k

6. Pine Gardens/Savannah Gardens/Avondale “The States”/Victory Heights

  • 24 new listings
    • 20 new listings in November 2021
    • 14 new listings this time last year (December 2020)
  • 14 properties sold
  • Average sale price: $215k

7. LaRoche/Fernwood/Glynnwood/Savannah State/Skidaway Terrace/Magnolia Park/Thunderbolt

  • 48 new listings
    • 30 new listings in November 2021
    • 11 new listings this time last year (December 2020)
  • 32 properties sold
  • Average sale price: $273k

8. West Savannah

  • 5 new listings
    • 3 new listings in November 2021
    • 4 new listings this time last year (December 2020)
  • 5 properties sold
  • Average sale price: $91k

9. Cloverdale/Tremont Park/Liberty City

  • 11 new listings
    • 11 new listings in November 2021
    • 3 new listings this time last year (December 2020)
  • 5 properties sold
  • Average sale price: $114k

10. Cuyler Brownsville/Cann Park

  • 9 new listings
    • 8 new listings in November 2021
    • 2 new listings this time last year (December 2020)
  • 4 properties sold
  • Average sale price: $119k
  •  

11. Midtown

  • 13 new listings
    • 26 new listings in November 2021
    • 10 new listings this time last year (December 2020)
  • 26 properties sold
  • Average sale price: $288k

12. Southside

  • 32 new listings
    • 55 new listings in November 2021
    • 40 new listings this time last year (December 2020)
  • 74 properties sold
  • Average sale price: $309k

13. Georgetown/Chevis/Little Neck

  • 39 new listings
    • 40 new listings in November 2021
    • 25 new listings this time last year (December 2020)
  • 59 properties sold
  • Average sale price: $262k

14. The Landings, Isle of Hope, Dutch Island, Burnside Island

  • 40 new listings
    • 27 new listings in November 2021
    • 34 new listings this time last year (December 2020)
  • 35 properties sold
  • Average sale price: $808k

15. Berwick/Southbridge

  • 14 new listings
    • 28 new listings in November 2021
    • 20 new listings this time last year (December 2020)
  • 47 properties sold
  • Average sale price: $315k

16. Garden City/Old Port Wentworth

  • 11 new listings
    • 7 new listings in November 2021
    • 7 new listings this time last year (December 2020)
  • 8 properties sold
  • Average sale price: $173k

17. New Port Wentworth/North Pooler

  • 37 new listings
    • 35 new listings in November 2021
    • 31 new listings this time last year (December 2020)
  • 44 properties sold
  • Average sale price: $287k

18. Pooler/Bloomingdale

  • 64 new listings
    • 67 new listings in November 2021
    • 47 new listings this time last year (December 2020)
  • 82 properties sold
  • Average sale price: $303k

19. Rincon

  • 58 new listings
    • 67 new listings in November 2021
    • 30 new listings this time last year (December 2020)
  • 71 properties sold
  • Average sale price: $281k

20. Guyton/Springfield

  • 31 new listings
    • 86 new listings in November 2021
    • 37 new listings this time last year (December 2020)
  • 55 properties sold
  • Average sale price: $257k

21. Richmond Hill

  • 52 new listings
    • 56 new listings in November 2021
    • 51 new listings this time last year (December 2020)
  • 55 properties sold
  • Average sale price: $332k

22. Keller

  • 35 new listings
    • 47 new listings in November 2021
    • 26 new listings this time last year (December 2020)
  • 48 properties sold
  • Average sale price: $421k

23. Midway

  • 32 new listings
    • 29 new listings in November 2021
    • 27 new listings this time last year (December 2020)
  • 31 properties sold

24. Hinesville

  • 60 new listings
    • 64 new listings in November 2021
    • 55 new listings this time last year (December 2020)
  • 66 properties sold

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