Local Market Update – March 2019

A RESEARCH TOOL PROVIDED BY MINNEAPOLIS AREA REALTORS®

+ 8.1% - 7.0% + 13.7%

Change in Change in Change in

Savage New Listings Closed Sales Median Sales Price

March Rolling 12 Months

2018 2019 +/– 2018 2019 +/–
New Listings 74 80 + 8.1% 875 842 -3.8%
Closed Sales 43 40 -7.0% 629 615 -2.2%
Median Sales Price* $295,000 $335,500 + 13.7% $290,000 $320,000 + 10.3%
Average Sales Price* $325,894 $332,060 + 1.9% $305,510 $330,982 + 8.3%
Price Per Square Foot* $137 $142 + 3.9% $132 $141 + 6.9%
Percent of Original List Price Received* 99.8% 99.0% -0.8% 99.2% 98.9% -0.3%
Days on Market Until Sale 67 75 + 11.9% 49 49 0.0%
Inventory of Homes for Sale 136 116 -14.7% -- -- --
Months Supply of Inventory 2.6 2.3 -11.5% -- -- --
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

2018 2019 2018 2019

March Rolling 12 Months
80 875 842
74
629 615
43 40

+ 8.1% -7.0% -3.8% -2.2%

New Listings Closed Sales New Listings Closed Sales

Change in Median Sales Price from Prior Year (6-Month Average)** 16-County Twin Cities Region b
Savage a
+ 20%

+ 15%

+ 10%

+ 5%

0%

- 5%

- 10%

- 15%

- 20%

- 25%

- 30%
1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average.
This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period.

Current as of April 8, 2019. All data from NorthstarMLS. | Powered by ShowingTime.