Real Estate Market Update for 31401 (Savannah, GA)
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of April. The number of active listings was up more than 150% from one year earlier, and up 20% from the previous month. This continued upward trend reflected a healthy inventory for buyers to choose from. As you can see, the median listing price for the month was just over 510-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 97%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 260-thousand dollars. The number of units sold was consistent year-over-year, and decreased 67% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript
Map Information for 31401 (Savannah, GA)
Area Information for 31401 (Savannah, GA)
  • Population: 22,102
  • Median Age: 28.85 yr
  • Median Commute Time: 19 mins
  • Educational Climate*: 3
  • Sales Tax: 7%
  • Population Density: 4,619/sq mi
  • Population Change Since 2000: 2.74%
  • Closest Airport: Savannah/hilton Head International
  • Closest College: Savannah College Of Art And Design
  • Closest Jr. College: Savannah Technical College
  • Median Household Income: $28,131
  • Annual Residential Turnover: 19%
  • Median Home Sales Price: $217,400
  • Closest Major Sports Team: Savannah Sand Gnats (a)
  • Change Avg. Household Income Since 2000: 35.51%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 31401 (Savannah, GA)
Median Age: 28.85 Married: 17% Number of Households: 9,146 Households with Children: 1,424
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 31401 (Savannah, GA)

      School Name Distance Type Grades School Rating Parent Rating
      St Vincent's Academy 0.3 mi Catholic 9-12 0 4
      Veritas Academy 0.3 mi Private PRESCHOOL-12 0 0
      East Broad Street School 0.5 mi Public PRESCHOOL-8 0 0
      Esther F. Garrison School Of Visual And Performing 0.5 mi Public PRESCHOOL-8 4 0
      Savannah Corporate Performance Learning Academy 0.5 mi Public - 0 0
      Hubert Middle School 0.8 mi Public 6-8 0 0
      Savannah Classical Academy 1.0 mi Public K-7 0 0
      St Paul Academy 1.2 mi Private 3-12 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2015. School Performance data by School Review data by
      Local Weather for 31401 (Savannah, GA)
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.