Historic Downtown Savannah Ga -- 5 year sales comparison
Below is a five year comparison of Savannah homes sold between 8/11 and 8/11 of each 12 month time frame.
This is drawn from our Multi-List database that designates Downtown Savannah as area 1. After being surprised at the findings from the Ardsley Park statistical information, which is Midtown Savannah in area 2, I decided to see what the numbers would show for historical downtown sales over a five year period.
| | 2002-2003 | 2003-2004 | 2004-2005 | 2005-2006 | 2006-2007 |
Avg. Sales Price | | $254,767 | 298,611 | $315,923 | $387,738 | $414,613 |
Avg Sq Footage | | 1979 | 1958 | 1759 | 1902 | 1782 |
Percent of sales price | | 94% | 94% | 95% | 96% | 94% |
to asking price | | | | | | |
Days on market | | 189 | 162 | 140 | 114 | 137 |
Total # of Sales | | 182 | 274 | 338 | 314 | 251 |
These are raw numbers based on all sales in the area for each time period. Again, I don't see much evidence of a downward trend. Total sales went up from the first year to the third year, then down the last two years, but they sold at a higher price aand at basically the same percent of sales price to asking price. The average sales price has continued to rise significantly. The number of days on the market show no significant differences.
Mike From Savannah
www.MikeFarmerRealty.com