News Summary
The Savannah real estate market is seeing homes linger on the market for three to four months, a shift from the rapid sales of the previous year. Contributing factors include rising mortgage rates and increased inventory. As the market stabilizes, potential buyers are encouraged to explore rate buydowns. The median home price in Chatham County is now $374,000, a significant rise from previous years, with inventory varying by neighborhood. In parallel, Savannah celebrates local design achievements and the historic Club One venue is preparing for renovations under new ownership.
Savannah is witnessing a significant transition in its real estate market, with homes now remaining on the market for an average of three to four months. This change comes after a year when many properties were selling almost instantaneously, often before being officially listed. Factors contributing to this notable market reset include higher mortgage rates and an increase in inventory resulting from new construction developments.
The market shift has resulted in potential buyers being advised to explore rate buydowns offered by builders eager to expedite home sales. As the landscape of Savannah’s real estate continues to evolve, these adjustments may provide buyers with more options and opportunities in the current environment.
As of March 2025, the median home price in Chatham County has reached $374,000, which reflects a striking increase, nearly doubling from $193,000 in 2015. Furthermore, inventory levels vary considerably by neighborhood. For instance, properties in Isle of Hope are currently showing only 2.7 months of inventory, while Downtown Savannah has 8.1 months, and Tybee Island is experiencing 10.5 months of inventory available for sale.
Amidst these changing real estate trends, Savannah continues to celebrate local achievements in the design community. Savannah Magazine’s 17th annual readers’ choice survey identified over 150 winners and runners-up within the local design sector. The Best of Savannah HOMES awards, which are based entirely on reader votes, recognized various local businesses, including the Best Antique Furniture Store (Jere’s Antiques) and the Best Kitchen Design Company (Kitchen Design Solutions).
Alongside these triumphs, a specific remodeling project by Tollison and Co. has gained attention for transforming a previously deteriorating house into a modern office space. Such projects underscore the continuing growth and investment within Savannah’s real estate development sector.
In parallel to changes in the housing market, Club One, a historic LGBTQ+ venue in Savannah, is undergoing a change in ownership as it prepares for renovations and expansion. The new owners, Pride Holdings LLC, are committed to preserving the cultural significance of Club One while enhancing guest experiences. Plans for expansion may involve new, smaller locations in Pooler and Hilton Head. Though renovations are underway, Club One intends to maintain its signature drag shows and community outreach efforts post-renovation.
Overall, the Savannah real estate market is showing signs of similarity to national trends, primarily due to high housing prices and a marked discrepancy in inventory levels. As the market continues to adjust, both buyers and sellers are experiencing the impacts of these transitions, highlighting shifts in demand and supply that are reshaping Savannah’s housing landscape.
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Additional Resources
- WTOC: Savannah Real Estate Market Experiences Changes
- Savannah Now: Club One to Be Sold to New Global Real Estate Group
- Realtor: Steve Doocy and Paula Deen’s Savannah Georgia Home
- Wikipedia: Real Estate
- Savannah Magazine: Best of Savannah Homes 2025
- Encyclopedia Britannica: Real Estate
Author: STAFF HERE SAVANNAH WRITER
SAVANNAH STAFF WRITER The SAVANNAH STAFF WRITER represents the experienced team at HERESavannah.com, your go-to source for actionable local news and information in Savannah, Chatham County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Savannah Music Festival, St. Patrick's Day Parade, and Savannah Jazz Festival. Our coverage extends to key organizations like the Savannah Area Chamber of Commerce and United Way of the Coastal Empire, plus leading businesses in aerospace, education, and logistics that power the local economy such as Gulfstream Aerospace, Savannah College of Art and Design, and Colonial Group. As part of the broader HERE network, including HEREAtlanta.com and HEREAugusta.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
