Market Insights | Fourth Quarter of 2021
Will Thurman
GEORGIA BROKER IN CHARGE 5 E Perry Street | Savannah, GA | 31401 | 912-233-6000 2 Skidaway Village Walk, Suite A | Savannah, GA | 31411
As we end 2021 and begin 2022 let’s look back at how we ended one of the strongest real estate markets in the last 15 years, fueled by the lowest mortgage rates in 50 years. Home prices and equity have both been on the rise. CoreLogic reports there is a 31.1% year over year increase in equity for homeowners with mortgages, which equates to a $57k average in equity gain for homeowners. These statistics are incredible and are expected to be even better in 2022. Currently on the market we continue to have more buyers than sellers, and sellers are averaging 3.8 offers on their homes. In order to determine the right offer for your home, or to be the buyer who wins the contract, you need a trusted real estate advisor. Never before has it been more important to have a trusted real estate professional by your side. Our elite real estate agents are ready to start another record breaking year. We are here to support you in selling, buying, looking for investment properties, considering renovations or connecting you to our network if you move across the country. Please enjoy this quarterly report on our market. We look forward to hearing from you.
By the Numbers Q3 compared to Q4 2021
19%
6%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Historic District | 31401 - SINGLE FAMILY Sellers MARKET
Buyers MARKET
Based on Q4 Supply
20
65
$768K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
67
2,441
$309
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Landmark District • Victorian District • Forsyth Park • 22 Historic Squares • Starland District • Retails & Restaurants
By the Numbers Q3 compared to Q4 2021
13%
19%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
SALES PRICE
Historic District | 31401 - CONDOS Sellers MARKET
Buyers MARKET
Based on Q4 Supply
13
35
$464K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
65
1,073
$440
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Landmark District • Victorian District • Forsyth Park • 22 Historic Squares • Starland District • Retails & Restaurants
By the Numbers Q3 compared to Q4 2021
10%
2%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Skidaway Island | 31411 - SINGLE FAMILY Sellers MARKET
Buyers MARKET
Based on Q4 Supply
38
65
$763K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
52
3,324
$229
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • The Landings • Skidaway Island State Park • Moon River District • Modena Island • South Harbor • Grand Harbor Development
By the Numbers Q3 compared to Q4 2021
29%
81%
DECREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Skidaway Island | 31411 - LAND/LOTS Sellers MARKET
Buyers MARKET
Based on Q4 Supply
34
34
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
34
34
AVERAGE DAYS ON MARKET
AVERAGE SOLD PRICE
Area & Features • The Landings • Skidaway Island State Park • Moon River District • Modena Island • South Harbor • Grand Harbor Development
By the Numbers Q3 compared to Q4 2021
4%
0%
DECREASE IN AVERAGE
CHANGE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Midtown | 31405 Sellers MARKET
Buyers MARKET
Based on Q4 Supply
30
104
$375K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
41
1,993
$199
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Ardsley Park • Daffin Park • Grayson Memorial Stadium • Habersham Villiage • Savannah Medical Arts
By the Numbers Q3 compared to Q4 2021
6%
24%
INCREASE IN AVERAGE
INCREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Wilmington Island & Whitmarsh Island Sellers MARKET
| 31410 Buyers MARKET
Based on Q4 Supply
15
100
$451K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
56
2,093
$201
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Long Point Community • Marsh Harbor Community • Wilmington Park • Charles C. Brooks Park • Savannah Country Club • Savannah Yacht Club • Hogans Marina
By the Numbers Q3 compared to Q4 2021
16%
15%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Isle of Hope & Dutch Island Sellers MARKET
| 31406 Buyers MARKET
Based on Q4 Supply
25
33
$528K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
49
2,291
$223
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • The Bluff • Isle of Hope Marina • Wormsloe Historic State Park • Sandfly • Isle of Hope Community Pool • Dutch Island
By the Numbers Q3 compared to Q4 2021
10%
43%
INCREASE IN AVERAGE
INCREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Tybee Island Sellers MARKET
| 31328 - SINGLE FAMILY Buyers MARKET
Based on Q4 Supply
19
37
$842K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
96
2,218
$413
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Tybee Island Light House • Marine Center • Tybee Beach Pier • Ft. Pulaski • Back River Beach • Tybee Post Theater • Ft. Screven
By the Numbers Q3 compared to Q4 2021
1%
2%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Tybee Island Sellers MARKET
| 31328 - CONDOS Buyers MARKET
Based on Q4 Supply
4
12
$416
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
34
1013
$445
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Tybee Island Light House • Marine Center • Tybee Beach Pier • Ft. Pulaski • Back River Beach • Tybee Post Theater • Ft. Screven
By the Numbers Q3 compared to Q4 2021
0.4%
9%
INCREASE IN AVERAGE
INCREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
| 31419
Southside Sellers MARKET
Buyers MARKET
Based on Q4 Supply
33
154
$248K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
45
1,695
$145
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • GSU Armstrong Campus • Hunter Army Airfield • Vernonburg • Coffee Bluff • Windsor Forest • Lake Mayer • Truman Lanier Trail
By the Numbers Q3 compared to Q4 2021
6%
23%
DECREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Berwick / Southbridge Sellers MARKET
| 31419, 31405 Buyers MARKET
Based on Q4 Supply
32
136
$316K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
29
2,247
$316
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Berwick Plantation • Southbridge Community • Grand Lake Lodge & Spa • Racket Club • 18-hole Rees Jones Championship Golf Course • Conveniently located to Hwy 17 and I-16
By the Numbers Q3 compared to Q4 2021
8%
31%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Pooler/West Chatham Sellers MARKET
| 31322, 31302, 31407 Buyers MARKET
Based on Q4 Supply
176
345
$308K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
26
2,346
$135
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Mighty Eighth Museum • SAV/HHI International Airport • Tanger Outlets • Savannah Quarters • Gulfstream Aerospce • Retail & Restaurants
By the Numbers Q3 compared to Q4 2021
5%
26%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Richmond Hill | Sellers MARKET
31324 Buyers MARKET
Based on Q4 Supply
142
287
$349K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
37
2,416
$152
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • The Ford Community • Waterways Community • Ft. McAlister State Park • JF Gregory Park • John W. Stevens Wetland Center
By the Numbers Q3 compared to Q4 2021
2%
12%
INCREASE IN AVERAGE
INCREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Georgetown | Sellers MARKET
31319 Buyers MARKET
Based on Q4 Supply
41
127
$267
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
37
1,931
$141
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Ogeechee Meat Market • Coastal Georgia Botanical Gardens • Conveniently located to Hwy 204 and I-95 • Truman & Veterans Parkway
By the Numbers Q3 compared to Q4 2021
3%
31%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
North Bryan County | Sellers MARKET
31321, 31408 Buyers MARKET
Based on Q4 Supply
5
34
$297K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
39
1,983
$152
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Pembroke • Ellabell • Black Creek • Black Creek Golf Course • Interstate Center Industrial Park
By the Numbers Q3 compared to Q4 2021
5%
2%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Effingham County | Sellers MARKET
31326, 31312, 31329 Buyers MARKET
Based on Q4 Supply
182
380
$291K
TOTAL AVAILABLE IN Q4
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
36
2,166
$138
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Honey Ridge Estate • Lost Plantation Golf Course • Butterduck Winery • Ebenezer Creek • Ebenezer Retreat Center • Roebling Road Raceway • Conveniently located to I-16 & I-95