Is Savannah, GA 31408 a buyer’s or seller’s market?
Savannah is a balanced market. With about 5.7 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Savannah housing market right now
In the three months ending August 31, 2026, 21% of homes in Savannah, GA 31408 sold above their list price, the typical home went under contract in 65 days and there were 5.7 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 14 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 14%, homes sold faster (99 days then) and the median sale price fell 6% to $249,392. Overall, Savannah is more competitive than a year ago, so tougher for buyers.
Within Chatham County, homes here sell faster than in 67% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Savannah 31411 (3% sold over asking) or Savannah 31401 (5% sold over asking).
Run the numbers for 31408
Nearby markets
Bloomingdale 31302Balanced $164 /sq ftPooler 31322Balanced $180 /sq ftPort Wentworth 31407Balanced $168 /sq ftSavannah 31401Buyer’s market $346 /sq ft Browse all markets →Towns like Savannah nearby
Find towns like Savannah in other states →Where Savannah is
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Questions about Savannah real estate
Is Savannah a buyer’s or seller’s market?
A balanced market: there were 5.7 months of supply in Savannah, GA 31408 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Savannah?
The typical home went under contract in 65 days in the latest three months.
Do homes in Savannah sell over asking?
21% of homes sold above their original list price, and the typical sale closed at 97.1% of the list price.
What are property taxes in Savannah?
About 0.84% of a home’s value a year in Chatham County, or roughly $3,360 on a $400,000 home.
What is the median home price in Savannah?
The median sale price was $249,392 in the three months ending August 31, 2026, about $159 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology