$4,982 Closing Credit*
$419,500
2,400 SqFt
4 Beds
•1 Full Bath
Listing Office: Bridge Realty, LLC
Is Savage, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Savage was a Seller's Market.
Key Takeaway
Savage is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Savage, MN
How much do homes in Savage, MN cost?
Median Sold Price
$425,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,250(+1.5%)
Key Takeaway
Homes in Savage have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Savage was $425,000 in November 2024, up 1.5% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $297.5K | $294.9K | -0.9% |
| 3 Bedrooms | $385K | $369K | -4.2% |
| 4 Bedrooms | $450K | $479.9K | +6.7% |
| 5+ Bedrooms | $562K | $612.5K | +9.0% |
Summary: Savage housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.9%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 9%.
Median Sold Price Compared To Nearby Cities
| Prior Lake | $485.1K | $513.8K | +5.9% |
| Burnsville | $355K | $374.2K | +5.4% |
| Savage | $418.7K | $425K | +1.5% |
| Bloomington | $357.5K | $361.1K | +1.0% |
| Credit River Township | $835K | $830K | -0.6% |
Housing Supply in Savage, MN
How many homes are available in Savage, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 119 | 105 | -11.8% |
Summary: The Savage real estate market had 105 homes for sale in November 2024, a 11.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 18 | 11 | -38.9% |
| 3 Bedrooms | 38 | 35 | -7.9% |
| 4 Bedrooms | 50 | 45 | -10.0% |
| 5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Savage housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 38.9%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 13 | -60.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Savage, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Savage in November 2024, down by 60.6% month-over-month. Of the 13 sold homes, 23% were sold under asking, 15% were sold at asking, and 62% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 28 Days | +7.3% |
Summary: Homes in Savage had an average of 28 days on market in Nov 2024, up by 7.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Savage has remained consistent over time.
Summary: During November 2024, 13 homes were sold in Savage; 46% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
