Local real estate trends for 2022

Published: Jan. 18, 2022 at 11:40 AM EST
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SAVANNAH, Ga. (WTOC) - With a new year comes new goals and new opportunities.

If buying or selling a home is on your vision board, get ready for the wild ride that is the current real estate market. WTOC spoke with a local associate broker to find out the latest trends and get some advice.

“2021 had a gangbuster year. Right now, I think everybody is tired of how low inventory is, how low interest rates are, but it’s a fact,” said Staci Donegan, Associate Broker at Seabolt Real Estate.

Donegan says sales volume in Savannah hit a record high last year, with almost 7,000 residential real estate transactions.

“The pandemic has put Savannah on the map. People find the lifestyle, accessibility to airport, then diversity of living styles..on the water, downtown, urban, suburban, gated communities. There is truly something for everyone here in Savannah,” Donegan explained.

If you are looking to sell, now is the time, especially if you live in certain neighborhoods.

“Now we have this extreme sellers market in some of our markets, the islands, the landings, the Southside, Pooler. Those markets have less than a month of inventory,” said Donegan.

And for the buyers who may be discouraged, Donegan says you have to be proactive.

“Throw everything you possibly can at an offer to make it as clean as possible and appealing. What I always tell the buyer is let’s find out everything important to the seller and let’s craft that offer,” she said.

And as for what’s to come the rest of the year, she predicts more of the same.

“What I do know is inventory levels are so low, and it’s going to take a lot of time to get the inventory back...regardless of interest rates rising, we’re going to see this market last through 2022,” said Donegan.

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