Savannah, Texas Home Prices and Housing Trends

Average Sales Price:  This chart shows the average sales price for all single-family homes in Savannah, Texas on a month-by-month basis for the last year. This chart helps identify the home price trends and whether prices are declining, increasing, or stagnating.

Months Supply of Inventory:  This chart shows how many months it would take to sell every home currently on the market if no other homes were put up for sale.  The trend line enables you to easily see if the market in Savannah, Texas is favoring buyers or sellers.  If there are less than 6 months of inventory, it is an indication that we are in a seller’s market.  More than 6 months of inventory would indicate we are in a buyer’s market.

New Listings:  This chart shows how many homes have been put up for sale on a month-by-month basis over the last year in Savannah, Texas.  This chart is subject to large seasonal variances but is also a useful tool for identifying market trends.  A decline in new listings would indicate that the market is tightening and moving toward a seller’s market.  A large increase in listings would indicate that the market might be trending toward a buyer’s market.

Average Price Per Square Foot:  This chart shows the average price homes are selling for on a square foot basis in Savannah, Texas.  The statistic is based on per square foot of living space and ignores lot size, garages, and features such as swimming pools.  This is considered a more accurate price trend indicator as the chart is not subject to large seasonal variances and ignores the overall size of the home (whether it is a 1,000 or 4,000-square-foot home).

Average Days on the Market:  This chart shows the average number of days a home is on the market before a contract to buy the home is executed, but ignores the number of days the home is going through the closing process.  This statistic is also a great indicator of market trends in Savannah, Texas but is subject to seasonal variances.  When homes are selling quickly, you are in a seller’s market and when selling slowly, the market favors the buyer.

Showings Per Listing:  This chart shows the average number of times a home is shown to prospective buyers in a monthly period.  This is a good indicator of how much buyer activity there is in Savannah, Texas but can be misleading when homes are selling quickly as that reduces the number of showings.  This statistic is best used for estimating the number of showings you will get if your home is listed for sale and for evaluating buyer interest.  If your home is getting average to above-average showings per month but not selling, your home may be overpriced.

Closed Sales:  This chart shows the number of homes that have sold/closed per month in Savannah, Texas.  This statistic is a good indicator of market trends but is subject to large seasonal variances and available financing.  When using this statistic you want to compare the average number of homes sold to the number of new listings.  When there are substantially more new listings than closing, the inventory will increase (more homes coming available versus what is sold) and the market will be trending toward a buyer’s market.  If the number of new listings is equal to or lower than the number of homes closed/sold then the market is stable or trending toward a seller’s market.

Mac Realty Team | City of Savannah, Texas Home Sale Prices and Housing Trends | Market Data