A 19th-century Victorian home filled with quintessential elements of Southern charm hit the market last week in Savannah, Georgia, for $2.85 million.
The two-story gingerbread house at 222 E Gwinnett St. is in the city's Landmark Historic District, where for-sale signs are few and newly built homes rare. This residence features pastel pinks and fuchsias, a checkerboard tile floor, 14-foot ceilings, a clawfoot bathtub, red roofs, and a courtyard with a garden, the listing shows.
"Living in the historic district is a status," listing agent Andrew Cosey told Homes.com. "It's a highly desirable part of town and comes with a higher price point."
Built in 1884 for Confederate Civil War officer Captain Henry Marty Drane and his wife, Virginia, the house is situated near white-tablecloth restaurants and local landmarks.
It's within walking distance of Chippewa Square, the Mercer Williams House Museum and Forsyth Park, where the famed fountain was reinstalled last month after a summer restoration.
Chippewa was featured prominently in the iconic movie "Forrest Gump," while Mercer Williams was the site of the 1981 Danny Hansford murder that was recounted in the novel and film adaptation "Midnight in the Garden of Good and Evil."
Home has off-street parking
The four-bedroom main home also comes with a side porch and off-street parking (rarities for Savannah) and includes a carriage house with two studio units for guests or renters, according to Cosey, of Corcoran Austin Hill Realty.
"The curb appeal is fantastic," he said. "There's a wide variety of options for this property."
Other features include a fenced yard, six fireplaces and pull-down stairs to the attic. The entire property, including the guest quarters, is 4,558 square feet, and there is no homeowners association.
The home is on a 0.18-acre lot and "showcases graceful proportions, intricate detailing, and beautifully preserved fireplaces balanced by modern updates throughout," the listing states.
The owners, who paid $1.05 million in 2020, renovated the residence extensively, replacing the wood siding, updating the carriage house and adding custom-designed wood windows, among other changes, Cosey said.
There are no interior renovation restrictions, but all exterior work must be approved by a city historical review board, the agent said.
"A lot of thought and detail was put into these restorations," he said of the owners, who are moving to Portugal.
More listings affect prices
A buyer who pays full price for the home, puts 20% down and gets a 30-year, fixed-rate mortgage at 6.19% would spend nearly $14,000 a month in principal and interest, according to Homes.com data. That doesn't include taxes or property insurance.
Like other parts of the Sun Belt, home prices have leveled off in the Savannah metropolitan area.
The median price for detached homes in September was $370,000, unchanged from a year earlier, according to Homes.com data. The median for all housing types last month was $365,000, up 0.3% from September 2024.
Price increases are slowing as more homes hit the market across the metropolitan area. Listings for all property types have leveled off over the past two months, though the 2,976 homes for sale in September still represented a 28% increase from a year ago, according to Homes.com.
Savannah, one of the fastest-growing regions in Georgia, is outpacing the national average, according to Toby Jorgensen, senior director of market analytics for Homes.com.
But with growth come drawbacks.
The city's historic district and River Street draw millions of visitors annually, leading to congestion and limited parking, especially during peak tourist seasons, Jorgensen noted. Aside from the oppressive summer heat, residents must also contend with hurricane and flooding risks typical of coastal areas, he added.
Still, Savannah remains an attractive destination, with many newcomers relocating from larger metropolitan areas due to its strong economic drivers and lower cost of living, according to Jorgensen.
"This makes Savannah appealing to families and investors seeking value," he said.