The Savannah housing market is showing balanced conditions with stable prices and moderate inventory levels. The median home price in Savannah currently stands at $350,000. With 5.8 months of supply, Savannah's inventory levels remain relatively tight. Homes are taking about 81 days to sell, which is 22 days longer than this time last year. A significant 23.7% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 16.4% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Savannah market with the affordability index at 18.8. Based on current market indicators, home prices in Savannah are projected to decrease by approximately 18.1% over the next month.
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