Is Savage, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$415,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Savage was $415,000 in April 2024, down 2.9% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $300K | $294.9K | -1.7% |
3 Bedrooms | $365K | $382.5K | +4.8% |
4 Bedrooms | $449.5K | $450K | 0.1% |
5+ Bedrooms | $560K | $550K | -1.8% |
Summary: Savage housing prices by bedroom type for April 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 4.8%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
Credit River Township | $685K | $872.4K | +27.4% |
Burnsville | $350K | $365K | +4.3% |
Bloomington | $349.9K | $359.5K | +2.7% |
Prior Lake | $487.5K | $494.9K | +1.5% |
Savage | $427.4K | $415K | -2.9% |
Housing Supply in Savage, MN
How many homes are available in Savage, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
109 | 138 | +26.6% |
Summary: The Savage real estate market had 138 homes for sale in April 2024, a 26.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 18 | 22 | +22.2% |
3 Bedrooms | 30 | 33 | +10.0% |
4 Bedrooms | 47 | 66 | +40.4% |
5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Savage housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 40.4%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 27 | +17.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Savage in April 2024, up by 17.4% month-over-month. Of the 27 sold homes, 33% were sold under asking, 15% were sold at asking, and 52% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
22 Days | 22 Days | +2.7% |
Summary: Homes in Savage had an average of 22 days on market in Apr 2024, up by 2.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 27 homes were sold in Savage; 70% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.