What’s Next for Savannah Home Prices? A Look into 2025

Lately, there’s been a lot of chatter about where home prices are headed, especially as we move through 2024. Here in Savannah, we’ve seen some interesting shifts in the market. For the first half of 2024, [insert local market stat about inventory or home prices], giving us a taste of what might be on the horizon.

But what’s the outlook as we head into 2025? While none of us have a crystal ball, the experts are already weighing in with their predictions. Let’s break it down.

The National Perspective: Home Price Predictions for 2025

It’s hard to believe we’re already halfway through 2024! Looking ahead to 2025, many experts are forecasting a bit of a slowdown in the national housing market. Now, that doesn’t mean prices are going to take a nosedive. In fact, the consensus is that we’ll see an average increase of about 2.5% in home prices across the country. If that holds true, it would be the 13th straight year of growth in home prices.

Here’s a quick snapshot of what some big players are predicting:

• Goldman Sachs: +4.4% growth
• Wells Fargo: +4.3%
• Mortgage Bankers Association: +3.3%
• Morgan Stanley: +3.0%
• Zelman & Associates: +2.3%
• Fannie Mae: +1.5%
• Freddie Mac: +0.5%
• Moody’s Analytics: +0.3%

Local Market Matters: What’s Happening in Savannah?

While national trends give us a general idea, real estate is all about location. Savannah might not follow the national script exactly. Local factors like job growth, inventory levels, and the overall economic vibe in our region will play a big role in shaping our market.

For instance, if Savannah continues to see strong job growth and a limited housing supply, we could see home prices here outpacing the national average. On the flip side, areas with slower economic activity might see more modest gains or even slight dips.

Here are some of the key factors I keep an eye on every month:

• Inventory Levels
• Interest Rates
• Average Days on the Market
• Median Sale Prices
• List-to-Sale Price Ratio

If you’re interested in staying up-to-date with Savannah’s market trends, be sure to sign up for our monthly trends!

Making Sense of the Savannah Market in 2025

Navigating the real estate market in Savannah in 2025 will require a mix of national insights and local know-how. By keeping an eye on the big picture and staying tuned into what’s happening locally, you’ll be in a strong position whether you’re buying or selling.

Stay tuned for more updates, and don’t hesitate to reach out if you have any questions or need personalized advice on your real estate journey.