The Best Time to Buy a Home in Savannah, GA

Seasons Matter

When you are looking to buy a home in Savannah, the time of year could make a big difference in your experience. The Savannah market tends to shift with the changing seasons, making it easier to get some great deals or unique homes during certain months of the year. Finding the right time for you to look at properties will depend on what your biggest priorities are.

Highest Availability

Are you mostly concerned about finding an incredible home in your favorite Savannah district? If you have a very specific set of things you want in your dream house, then you need to start shopping when the market is busiest. Having a lot of houses to choose from lets you look for unique features that cannot be found in every property.

To have a lot of inventory to choose from, you need to look for a house during spring and early to mid-summer. According to the data, your best bet is looking through May and into July, because this is when the city has the highest number of homes for sale. A lot of residents put their house on the market during these months because they want to sell their house and move into a new one before school starts. Even people without kids are more likely to sell at this time because they typically get renovations done during early spring and then start looking for buyers. 

Budget

Of course, another important factor to consider when you want to find the best time to buy a house is finances. No matter how much you have to spend on a property, most buyers agree that they want to get the best possible deal on a house. To do this, your goal should be finding a property with a buyer who is desperate to sell. This gives you more negotiating power and lets you get a better deal.

People who want to save money on their house purchase should start looking around late fall and aim to close by January. Across the nation, closing prices for houses can dip by up to $50,000 during January. There are a few reasons for this drastic fall in prices. Though Savannah winter weather is still incredibly good compared to Northern states, it is chilly enough to reduce the number of people willing to stroll around properties looking in every nook and cranny. A lot of people are also busy with the holidays, so this means there are fewer buyers around who can get into bidding wars and drive up prices.

Keep in mind that the right time might not be quite as cut and dry when you want to save money. You also need to consider the interest rates that affect how much you will be spending over the next several years. Interest rates do not follow seasonal trends like other parts of real estate, so you will need to look at market trends and figure out whether interest rates are likely to rise or drop soon. 

Convenience

Buyers who mostly just want to cut back on hassle also need to think about the time they buy a house. Shopping during the winter and fall can lead to long, drawn-out house hunts and lengthy moves that are unpleasant for the whole family. Those who prioritize convenience may need to be willing to spend a little more, but for many people, it is definitely worth it.

If you are all about a quick and easy move, the right time is probably late spring. Weather in Savannah is warm without being too hot, so it is an ideal time to deal with all the hassle of moving. Another thing to consider is that the market is faster during this time. The median days before closing drops, so you are less likely to spend months negotiating. Finally, late spring is a great time because it lets you move into your new house in time to enjoy sunny beach days and gentle summer nights.

Depending on your needs, some seasons may be a little better than others but, ultimately, there is no one perfect time to start looking for a property in Savannah. The key to getting your dream property at an ideal price is more about how long you are willing to take not what time you start looking. It is always better to start looking as soon as possible, so you do not miss out on any great opportunities!