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Skip to contentHappy 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.
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:
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:
We’re here to assist every step of the way.
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