Savannah’s real estate market is experiencing notable shifts, influenced by various factors including economic developments and housing initiatives. Understanding these trends is essential for residents, investors, and prospective homeowners.
Current Market Trends
As of March 2026, the median sale price of homes in Savannah stands at $329,450, reflecting an 11% decrease compared to the previous year. Homes are averaging 99 days on the market, up from 61 days last year, indicating a more balanced market. Additionally, the median sale price per square foot has seen a slight increase of 1%, now at $208. These figures suggest a cooling market, providing potential buyers with more opportunities and negotiating power. Source
Rental Market Insights
The rental sector remains robust, with the median rental price at $2,000 per month, marking a 4.74% year-over-year increase. This steady rise underscores sustained demand for rental properties in the area. Source
Key Developments and Housing Initiatives
Several significant projects are underway, aiming to enhance Savannah’s housing landscape:
Starland Village
Located in the vibrant Starland District, Starland Village is set to offer studios, one-, and two-bedroom apartments starting June 2026. This development emphasizes a walkable lifestyle, with easy access to local dining, shopping, and arts experiences. Source
Dawes Avenue Mixed-Use Housing Development
Part of the Housing Savannah Action Plan, this project aims to deliver approximately 30 new homes for families experiencing or exiting homelessness by 2026–2027. Currently in the planning phase, it represents a significant step toward addressing housing needs in the community. Source
The Line
Situated in Savannah’s Historic District, The Line is a 219-unit residential project combining the renovation of an existing building with new construction. This development aims to provide premium housing options while preserving the area’s historic character. Source
Drayton Street Workforce Housing
Located at 1700 Drayton Street, this mixed-use community offers 41 affordable apartment homes designed for Savannah’s workforce. The project blends contemporary design with the historic urban fabric, contributing to the city’s goal of equitable housing opportunities. Source
Riverchase Vista
On S. Chatham Parkway, Riverchase Vista is a 300-unit, garden-style community targeting the middle-income demographic. Its strategic location offers convenient access to major interstates and downtown Savannah. Source
These developments reflect Savannah’s commitment to expanding housing options and accommodating diverse community needs. Staying informed about these projects and market trends is crucial for making well-informed real estate decisions in the city.