Savannah GA Rea Estate Report: Resales vs New Home Construction
Yesterday I posted the results of research regarding Savannah GA new home construction and Savannah GA midtown resales on the Homegain blog. You can find the results here - http://blog.homegain.com/savannah-georgia-real-estate-home-sales-photos -- I am a contributor for Homegain Blog. Homegain is a company out of California that helps buyers connect with local real estate agents to determine the value of their homes or to find a local agent to either represent them in the buying or selling of homes.
The results show a large decrease in the number of homes sold in the first six months of 2008 as comapred to the first six months of 2007 and 2006. New homes are selling for slightly less per square foot, but the midtown homes are selling slightly higher per square foot.
Right now buyers are getting more for their money with new construction in west Chatham and Effingham counties. Although midtown showed an increase in prices, it was small and it seems the market has stabilized and prices are practically flat compared to last year -- still somewhat higher than 2006.