ResalesSavannah, South"s "Hostess City" Employment, Housing Sales Up
A "small town" city with European sophistication, Savannah is reporting more jobs and greater home sales, largely due to its reputation as the "Hostess of the South."
"In Savannah, we enjoy an unparalleled quality of life," says Realtor Judi Ross. "This decade our city has changed from Georgia"s best-kept secret to Georgia"s fastest-growing city next to Atlanta (1999). In fact, Area Development Magazine named Savannah one of the top ten hot spots for entrepreneurs. Savannah is a cosmopolitan community with a European flair and a rich historical tradition. Savannah has a diverse economy, one that consistently weathers national economic cycles. Manufacturing, distribution, tourism, military, port operations, and retail sectors form a strong business and employment base, which makes it an ideal city for any relocated business or family."
Ross explains, "Savannah offers tremendous selection of communities and neighborhoods to suit everyone"s tastes. The choices are boundless. Choose from historic mansions, tidy bungalows, planned developments, country cottages, to waterfront hideaways. The Savannah area also has many subdivisions, neighborhoods and developments underway for the people who prefer something new. Development trends are the south/southwest corridor towards Savannah International Airport, Pooler and Rincon, GA."
Says Realtor Vickie Linscott, "Savannah is currently ranked as one of the Top 10 retirement destinations in the country. While Savannah is a medium-sized city with a population of approximately 200,000, it "feels" like a small town. Savannah has much to offer in terms of housing, cultural attractions, educational facilities, and healthcare. The availability of beaches, public parks & squares, ample golf courses, and the beauty of historic homes also makes it a popular second-home location."
Linscott advises, "For most Savannah locations, the real estate market has been very strong due to the sustained low interest mortgage rates. Average days on market for listed property is approximately five months, with two exceptions: (1) Wilmington Island homes continue to be a "hot market," with most homes under contract within 30 days, and (2) Homes priced under $100,000 are also selling very quickly. New construction remains strong, with significant growth in Pooler, Southbridge, Westbrook as well as in the bedroom communities of Richmond Hill, Rincon, and Guyton. Currently, bargains can be had for buyers interested in homes priced over $500K since these have not been moving as rapidly as desired. For those who enjoy renovation projects, bargains are also still available for historic properties in the Victorian District. There hasn"t been a better time to buy or sell in Savannah."
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