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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).

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. Midtwon
  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

  • 24 new listings
    • 36 new listings in December 2021
    • 19 new listings this time last year (January 2021)
  • 22 properties sold
  • Average sold price: $395k

2. The Islands

  • 50 new listings
    • 40 new listings in December 2021
    • 68 new listings this time last year (January 2021)
  • 52 properties sold
  • Average sold price: $508k

3. Historic District

  • 27 new listings
    • 29 new listings in December 2021
    • 38 new listings this time last year (January 2021)
  • 19 properties sold
  • Average sold price: $847k

4. Starland/Thomas Square/South Victorian District

  • 20 new listings
    • 14 new listings in December 2021
    • 21 new listings this time last year (January 2021)
  • 10 properties sold
  • Average sold price: $573k

5. Eastside

  • 21 new listings
    • 19 new listings in December 2021
    • 28 new listings this time last year (January 2021)
  • 23 properties sold
  • Average sold price: $209k

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

  • 23 new listings
    • 24 new listings in December 2021
    • 20 new listings this time last year (January 2021)
  • 20 properties sold
  • Average sold price: $215k

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

  • 30 new listings
    • 48 new listings in December 2021
    • 24 new listings this time last year (January 2021)
  • 20 properties sold
  • Average sold price: $273k

8. West Savannah

  • 9 new listings
    • 5 new listings in September 2021
    • 5 new listings this time last year (October 2020)
  • 5 properties sold
  • Average sold price: $91k

9. Cloverdale/Tremont Park/Liberty City

  • 14 new listings
    • 11 new listings in December 2021
    • 9 new listings this time last year (January 2021)
  • 10 properties sold
  • Average sold price: $114k

10. Cuyler Brownsville/Cann Park

  • 9 new listings
    • 9 new listings in December 2021
    • 5 new listings this time last year (January 2021)
  • 11 properties sold
  • Average sold price: $119k
  •  

11. Midtown

  • 27 new listings
    • 13 new listings in December 2021
    • 21 new listings this time last year (January 2021)
  • 14 properties sold
  • Average sold price: $288k

12. Southside

  • 56 new listings
    • 32 new listings in December 2021
    • 55 new listings this time last year (January 2021)
  • 40 properties sold
  • Average sold price: $309k

13. Georgetown/Chevis/Little Neck

  • 43 new listings
    • 39 new listings in December 2021
    • 41 new listings this time last year (January 2021)
  • 33 properties sold
  • Average sold price: $262k

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

  • 41 new listings
    • 40 new listings in December 2021
    • 37 new listings this time last year (January 2021)
  • 35 properties sold
  • Average sold price: $808k

15. Berwick/Southbridge

  • 35 new listings
    • 14 new listings in December 2021
    • 34 new listings this time last year (January 2021)
  • 23 properties sold
  • Average sold price: $315k

16. Garden City/Old Port Wentworth

  • 23 new listings
    • 11 new listings in December 2021
    • 20 new listings this time last year (January 2021)
  • 20 properties sold
  • Average sold price: $173k

17. New Port Wentworth/North Pooler

  • 30 new listings
    • 37 new listings in December 2021
    • 47 new listings this time last year (January 2021)
  • 28 properties sold
  • Average sold price: $287k

18. Pooler/Bloomingdale

  • 75 new listings
    • 64 new listings in December 2021
    • 72 new listings this time last year (January 2021)
  • 56 properties sold
  • Average sold price: $303k

19. Rincon

  • 47 new listings
    • 58 new listings in December 2021
    • 59 new listings this time last year (January 2021)
  • 52 properties sold
  • Average sold price: $281k

20. Guyton/Springfield

  • 29 new listings
    • 31 new listings in December 2021
    • 58 new listings this time last year (January 2021)
  • 24 properties sold
  • Average sold price: $257k

21. Richmond Hill

  • 54 new listings
    • 52 new listings in December 2021
    • 38 new listings this time last year (January 2021)
  • 35 properties sold
  • Average sold price: $332k

22. Keller

  • 31 new listings
    • 35 new listings in December 2021
    • 45 new listings this time last year (January 2021)
  • 26 properties sold
  • Average sold price: $421k

23. Midway

  • 29 new listings
    • 32 new listings in December 2021
    • 24 new listings this time last year (January 2021)
  • 29 properties sold

24. Hinesville

  • 64 new listings
    • 60 new listings in December 2021
    • 61 new listings this time last year (January 2021)
  • 55 properties sold

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