Property transfers: May saw increase of homes with price drops

There has been a slight uptick in the percentage of for-sale homes that experience price drops in the Savannah area, according to Redfin data. About 37% of homes on the market in May saw a price drop, the Redfin data shows. That is a 2.2% uptick from the same time last year. The percentage of homes

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What is the story about?

There has been a slight uptick in the percentage of for-sale homes that experience price drops in the Savannah area, according to Redfin data.

About 37% of homes on the market in May saw a price drop, the Redfin data shows. That is a 2.2% uptick from the same time last year.

The percentage of homes with a drop in price increased from 31% to 35% from February to March. The March percentage was a 3% increase over the previous year.

Overall, Redfin rates Savannah's housing market as "somewhat competitive." The average Savannah-area home sells for 3% below list price and go pending in 71 days, according to Redfin.

Find this week's round of property transfers here:

This duplex in the 500 block of East 32nd Street is an example of homes that can be found throughout Savannah.