Savannah real estate market finishes 2020 with higher sale prices, total sales volume exceeding $2 billion

The Savannah Area real estate market finished 2020 in strong fashion, with increases in average sales price and total sales volume for the year exceeding $2 billion.

“The Savannah area real estate market demonstrated remarkable strength through the turbulence that defined 2020,” said Steve Candler, Savannah Area REALTORS® CEO. “Sale prices increased compared to 2019, sellers received a high percentage of their asking price, and total sales volume increased significantly. We are confident that the market will remain strong in 2021.”

The number of active listings fell 33% in 2020 compared to 2019, going from 2,286 to 1,531. Average sale prices increased 10%, from $250,356 to $275,422. Sellers received 98.9% of the list price in 2020 compared to 98.2% in 2019. Total sales volume jumped 24.4% from 2019, going from $2,190,114,933 to $2,724,833,209.