downtown Savannah Ga real estate: Sales Statistics

The following numbers were taken from the Savannah Multi-List database and go from April to April each year.

Downtown Savannah home prices have fallen when looking at the average sales price -- of course fewer high price homes might have sold last year, but the numbers are telling that the slowdown has affected downtown real estate.

2004-2005 -- homes sold - 388    Average sales price -- $299,885    Days on market -- 145
2005-2006 -- homes sold - 323    Average sales price -- $370,488    Days on market -- 113
2006-2007 -- homes sold - 263    Average sales price -- $427,582    Days on market -- 131
2007-2008 -- homes sold - 199    Average sales price -- $351,866    Days on market -- 146 

After checking a little closer to determine cost per square feet between last year and this year, prices still came up lower this year -- 2006-2007 the average square footage was 1896 which comes out to $225.00 a sq ft.

2007-2008 the average square footage was 1612 which comes out to $218.00 a sq ft.

Practically speaking prices have slightly fallen when comparing by cost per sq ft, about $7.00 less. This comes out to about $11,000 less per house based on the average of 1612 sq ft. That sounds about right according to what I've experienced.