Savannah is Always a Good Bet
Of all the southern states, we’d like to think that Georgia is by far the most charming. There’s just something about a golden-hour stroll along the quaint cobblestone streets of downtown Savannah that you can’t find anywhere else in the world, and that’s reason enough to want to purchase real estate here.
Apparently, we’re not the only ones that think that way, too. According to Zillow, Savannah is deemed a ‘Very Hot’ real estate market, having grown 4.8 percent over the past year. Yet, with the effects of COVID-19 rippling throughout real estate markets nationwide, prices are expected to drop 1.8 percent. Could that mean that now is the time to scoop up Savannah property? We think so.
“What you’re probably seeing and surprised to see is that the market has not necessarily wavered,” George Meyers told Savannah Now. George is President of the Savannah Multi-List Corp, a company that closely monitors local real estate data.
What’s more, a pre-COVID report by Benjamin Ayers, the Dean of the University of Georgia’s Terry College of Business, predicted real estate development to continue at a steady rate confirming that there is, in fact, demand to live in the area and a fundamental potential for growth.
“Georgia will benefit from several reliable sources of growth, including an impressive economic development team, favorable demographics trends, more home building, and real estate development, higher defense spending, continuing fiscal stimulus from recent tax cuts and faster productivity growth,” Meyers told Savannah Now in an article published in February of 2019.
Founded in 1733, Savannah is Georgia’s oldest city and remains one of the Peach State’s premier destinations for tourists and locals alike. With picturesque cobblestone streets, fantastic restaurants like Atlantic, ghost tours for the paranormal-curious, and beaches just 30 minutes outside of downtown, Savannah will always be a desirable place to be. It’s just a matter of when you or your clients decide to act, and we’d say now should be one of those times.
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