The Savannah Real Estate Market shifts towards a Buyer’s market as inventory surges

April 4, 2025

The local real estate market is beginning to show signs of switching towards a buyer’s market. This shift comes after having a long stand in a seller’s market during the years since COVID-19, but the data from Q1 is beginning to show a shift.

The number of pending sales, 770, and the number of closing sales, 721, have both shown decreases from the previous year, with a decrease of 19.2% in pending sales and -18% for closing sales since March 2024. This is coupled with the increase in supply entering the market.

The number of new listings has increased by 13.6%, with 1,371 new listings in March 2025. The amount of inventory that is also currently on the market is showing a 43% increase from the amount of inventory at this time last year. This depicts a huge increase in the number of houses entering the market, yet it shows that they are staying on the market for significantly longer periods of time, with the average number of days increasing by 28.3% from the previous year. The monthly supply of homes has also increased to 4.7, which is grown by 51.6% since March 2024. Overall, this data shows the market slowly begins to shift towards a buyer’s market and out of it’s long-term stance in a seller’s market.

Savannah Area REALTORS® (SAR) is the trade association for real estate licensees in Chatham, Bryan and Effingham counties, representing approximately 2,400 members. SAR is the voice for real estate in the Coastal Empire and works to provide education, promote the highest professional and ethical standards and address the changing needs of members while protecting private property rights and being active in the community. For more information visit https://savannaharearealtors.com.

  • Pending Sales: (-19.2%)
    • March 2025: 770
    • March 2024: 953
  • New Listings: (+13.6%)
    • March 2025: 1,371
    • March 2024: 1,207
  • Monthly Supply of Inventory: (+51.6%)
    • March 2025: 4.7
    • March 2024: 3.1
  • Inventory of homes for sale: (+43.1%)
    • March 2025: 3,733
    • March 2024: 2,633
  • Percentage of list price received: (-0.4%)
    • March 2025: 98%
    • March 2024: 98.4%
  • Median Sales Price: (+4%)
    • March 2025: $349,000
    • March 2024: $335,695
  • Average sales price: (+4.7%)
    • March 2025: $422,365
    • March 2024: $403,293
  • Average days on the market: (+28.3%)
    • March 2025: 77
    • March 2024: 60
  • Closed Sales: (-18%)
    • March 2025: 721
    • March 2024: 879
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