Is Savage, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Savage has remained a Seller's Market.
Housing Prices in Savage, MN
How much do homes in Savage, MN cost?
Median Sold Price
$418,333
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Savage was $418,333 in March 2024, down 1.8% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $299.9K | $294.9K | -1.7% |
3 Bedrooms | $365K | $375K | +2.7% |
4 Bedrooms | $447K | $455K | +1.8% |
5+ Bedrooms | $555K | $573.5K | +3.3% |
Summary: Savage housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
Credit River Township | $685K | $875K | +27.7% |
Burnsville | $350.1K | $360.5K | +3.0% |
Bloomington | $350K | $358.8K | +2.5% |
Prior Lake | $492.8K | $504K | +2.3% |
Savage | $426K | $418.3K | -1.8% |
Housing Supply in Savage, MN
How many homes are available in Savage, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
95 | 105 | +10.5% |
Summary: The Savage real estate market had 105 homes for sale in March 2024, a 10.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 17 | 17 | 0.0% |
3 Bedrooms | 28 | 31 | +10.7% |
4 Bedrooms | 36 | 43 | +19.4% |
5+ Bedrooms | 14 | 14 | 0.0% |
Summary: The Savage housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 19 | -5.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Savage in March 2024, down by 5.0% month-over-month. Of the 19 sold homes, 32% were sold under asking, 47% were sold at asking, and 21% were sold over asking.
Days on Market for Savage, MN
How long does it take to sell a home in Savage, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
22 Days | 28 Days | +24.1% |
Summary: Homes in Savage had an average of 28 days on market in Mar 2024, up by 24.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in Savage; 68% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.