[av_section min_height=” min_height_pc=’25’ min_height_px=’500px’ padding=’default’ margin=” custom_margin=’0px’ color=’main_color’ background=’bg_color’ custom_bg=” background_gradient_color1=” background_gradient_color2=” background_gradient_direction=’vertical’ src=” attach=’scroll’ position=’top left’ repeat=’no-repeat’ video=” video_ratio=’16:9′ video_mobile_disabled=” overlay_enable=” overlay_opacity=’0.5′ overlay_color=” overlay_pattern=” overlay_custom_pattern=” shadow=’no-border-styling’ bottom_border=’no-border-styling’ bottom_border_diagonal_color=’#333333′ bottom_border_diagonal_direction=” bottom_border_style=” scroll_down=” custom_arrow_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” id=” custom_class=” template_class=” aria_label=” av_element_hidden_in_editor=’0′ av_uid=’av-36dedt’ sc_version=’1.0′] [av_textblock size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” template_class=” av_uid=’av-kz7b5j14′ sc_version=’1.0′ admin_preview_bg=”] February is here! Is it just us, or did January fly by? We saw marginally more homes on the market in January than we did in December, likely partially due to people not wanting to list their home during the holidays. Sure enough, January’s inventory of homes went back to what it’s been the majority of 2021, but that still lands us heavy in a seller’s market. 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 January in the entire Savannah MLS (which covers all of Chatham, Effingham, Bryan, and parts of Long and Liberty Counties), we have seen the following:
975 new listings, compared to 951 new listings in December & 1,056 new listings in January of last year, 2021
739 homes sold, compared to 1,132 homes sold in December & 791 homes sold in January of last year, 2021
There were 1,259 homes total on the market in January. In December, there were 1,283. Last January, for more reference, there were 2,096 homes on the market. This brings us to a total of 1.85 months of inventory, compared to 1.2 months of inventory in December. In a balanced market, we expect to see 6 months of inventory, so we are still very much in a seller’s market although it’s slightly better than it was in December.
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).
