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Savannah Ga Real Estate Market Holding Its Own

Real estate in Savannah Ga has held its own during this national downturn. There is a steady demand for homes in Savannah Ga and I have a feeling once the economy improves, there will be a mini-boom in Savannah.

Prices are stable right now, with some slight decreases from a year ago in a few areas. Construction, though, is going on at a steady pace in Downtown Savannah, Pooler Ga, Rincon Ga and in Richmond Hill. The inventory should be going down this summer when the market heats up.

There are many buying opportunities all over Savannah and several buyers I've worked with in recent transactions have made some good deals. I'm hoping our economy will begin improving now that the recession has been given a name and some of the worst news is already out there. The recent troubles with Bear Stearns might be a signal the downturn has bottomed out, but no one can be sure.

The good news for people who have to sell in this market is that even though sellers aren't getting the top prices they want, when they do sell they are buying homes at a good price so it works out fairly even.

My prediction last year was that we'd see an upturn this summer. I still think there is going to be a slight upward tick in the number of home sales. Savannah Ga real estate has seen many good, stable years and I don't see that changing for a long time to come. With the baby boomers retiring and moving out of large metropolitan to smaller areas like Savannah with better climate and lower cost of living, I believe the real estate market will be active for quite awhile.

Also with our port system growing, and new industries,both big and small, moving to Savannah, the employment numbers ought to be stronger and stronger. Tourism also seems to be growing in the area. One trend I've noticed is more people are seeking urban living which ought to be good for the downtown Savannah area. I still see activity in renovation from Victory to Gaston as house after house is re-built and neighborhoods come back to life.

The real estate market at Tybee Island slowed down considerably this last year, but I believe it will begin picking up this summer, also. All in all the Savannah real estate market is in good shape. It's still a beautiful city, and more people are discovering this daily. I have about 100 visitors a day coming to my site from all over the country. Many are waiting for their homes to sale in the northeast or out west -- that's why I believe that once the economy improves we'll see a min-boom -- there is obviously a backed-up demand for Savannah living.

Mike from Savannah

Published Friday, March 21, 2008 2:49 PM by Mike Farmer


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