Real Estate Market Update for 31406 (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 May. The number of active listings was down 21% from one year earlier, and down 12% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 210-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 21%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 110-thousand dollars. The number of units sold increased 20% year-over-year, and increased 200% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. 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.
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Map Information for 31406 (Savannah, GA)
Area Information for 31406 (Savannah, GA)
  • Population: 34,491
  • Median Age: 35.8 yr
  • Median Commute Time: 19 mins
  • Educational Climate*: 4
  • Sales Tax: 7%
  • Population Density: 1,350/sq mi
  • Population Change Since 2000: .21%
  • Closest Airport: Savannah/hilton Head International
  • Closest College: South University
  • Closest Jr. College: Savannah Technical College
  • Median Household Income: $49,169
  • Annual Residential Turnover: 16.94%
  • Median Years in Residence: 4.52 yr
  • Median Home Sales Price: $125,000
  • Closest Major Sports Team: Jacksonville Suns
  • Change Avg. Household Income Since 2000: 15%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 31406 (Savannah, GA)
Median Age: 35.8 Married: 31% Number of Households: 13,893 Households with Children: 4,387
Community:
    • 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 31406 (Savannah, GA)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      St James Catholic School 1.1 mi Catholic PRESCHOOL-8 0 5
      Hesse Elementary School 1.1 mi Public PRESCHOOL-8 3 4
      Oglethorpe Charter School 1.2 mi Public 6-8 5 5
      Bethesda Home For Boys School 1.5 mi Private 6-12 0 0
      Chatham Academy 1.9 mi Private 1-12 0 4
      Hancock Day School 2.0 mi Private PRESCHOOL-8 0 5
      Benedictine Military School 2.0 mi Catholic 9-12 0 4
      The Stem Academy At Bartlett 2.1 mi Public 6-8 1 2
      Uhs Of Savannah Coastal Harbor Treatment Center 2.2 mi Public 5-11 0 0
      El Shaddai Academy 2.4 mi Private PRESCHOOL-K 0 0
      New Beginnings Learning Center 2.4 mi Private - 0 0
      White Bluff Elementary School 2.5 mi Public PRESCHOOL-5 1 3
      Savannah Christian Middle School 2.7 mi Private 6-8 0 0
      Herchel Jenkins High School 2.8 mi Public 9-12 1 3
      Largo Tibet Elementary School 3.2 mi Public PRESCHOOL-5 2 3
      Providence Christian School 3.4 mi Private PRESCHOOL-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: GreatSchools.org and Onboard Informatics © 2015
      Local Weather for 31406 (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.