Savannah MLS Market Trend March 2014

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Information about Savannah MLS Market Trend March 2014
Real Estate

Published on April 23, 2014

Author: marketingrmx



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MEDIAN SALES PRICE SAVANNAH The Median Price for all homes sold in March was $170,000, which was 9% higher than the median price in February and 4% higher than the price in March 2013. MARCH 2014 MARCH 2013 $170,000 $163,750 4% MARCH 2014 $170,000 $140,000 $145,000 $150,000 $155,000 $160,000 $165,000 $170,000 $175,000 $180,000 $185,000

CLOSED TRANSACTIONS SAVANNAH The Market Trend Report for March showed a 33% increase in the number of Closed Transactions over February and 15% increase over sales in March 2013. 397 345 15% MARCH 2014 MARCH 2013 MARCH 2014 397 0 50 100 150 200 250 300 350 400 450 500

DAYS ON THE MARKET SAVANNAH The average Days on the Market for all homes sold in March was 112. This is 18 days less than the average in February and 21days less than the average in March 2013. 16% 112 133 MARCH 2014 MARCH 2013 MARCH 2014 112 0 20 40 60 80 100 120 140 160

MONTHS SUPPLY OF INVENTORY SAVANNAH The number of Months Supply of Inventory at the end of March was 5.6 which is an 8% decrease from February and an 8% decrease from March 2013. 5.6 6.1 8% MARCH 2014 MARCH 2013 MARCH 2014 5.6 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0

Description The Market Trend Report is distributed each month on or about the 15th. The Report is based on data provided by Terradatum from the local Savannah Multiple Listing Service and is not annualized. While MLS and Terradatum data are believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Data for prior periods is not being recalculated for this report. Definitions Median Sales Price is the median price of all residential properties sold during the month. Closed Transactions are the number of residential transactions closed during the given month. Days on the Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month).

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