Savage, MN Real Estate News

By Chad & Sara Huebener
(Edina Realty)
By Chad & Sara Huebener Progress is certainly being made in our marketplace.   We can chalk it up to either the typical happenings in a spring market, or perhaps a more positive outlook on our economy....   regardless, what we are seeing is pretty positive stuff. West Savage is seeing more listings come on the market, more pending transactions, and more closed sales.   Current listings and new listings have increased as those needing or wanting to sell take advantage of the increase in showing activity that spring market tends to bring.  And rightly so, as pending sales have increased 67% since last month and sold listings have tripled.   Prices, however, continue to fall, as foreclosures, short sales, and lengthy market times drive down prices.    Savage as a whole has seen a modest ov...
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By Kenden Post
(Coldwell Banker Burnet)
Here are the final numbers for Savage, MN. March 2009 home sales; Savage, MN March March March Entire Year Entire Year Entire Year Scott County, MN 2008 2009   Change 2008 2009   Change New listings 84 93 10.7 236 235 -0.4 Closed Sales 23 32 39.1 62 64 3.2 Median Sales Price 215000 179300 -16.6 223200 178100 -20.2 Avg. Sales Price 237,553 205928 -13.3 239554 199954 -16.5 % of orginal list pirce received 92 88.7 -3.9 93 88.4 -5 Avg. Days of Market  167 138 -17.5 146 136 -7 Single-family detached inventory 180 156 -13.3       Townhouse-condo inventory 120 98 -18.3         If you have any questions about this information on home sales for Savage, MN. please feel free to contact me. Kenden Post-Ketterling Group Coldwell Banker Burnet-Apple Valley www.KendenPost.com Kenden@KendenPost.com (o)...
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By Kenden Post
(Coldwell Banker Burnet)
Here are the final numbers for Savage, MN. February 2009 home sales;   Savage, MN February February February Entire Year Entire Year Entire Year Scott County, MN 2008 2009   Change 2008 2009   Change New listings 80 59 -26.3 152 142 -6.6 Closed Sales 19 20 5.3 39 32 -17.9 Median Sales Price 212000 170000 -19.8 223500 173750 -22.2 Avg. Sales Price 217,677 172602 -20.7 240734 193980 -19.4 % of orginal list pirce received 94 88.2 -5.7 93.4 88 -5.7 Avg. Days of Market  142 149 5.5 133 34 0.2 Single-family detached inventory 168 154 -8.3       Townhouse-condo inventory 110 90 -18.2         If you have any questions about this information on home sales for Apple Valley, MN. please feel free to contact me. Kenden Post-Ketterling Group Coldwell Banker Burnet-Apple Valley www.KendenPost.com Kend...
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By Chad & Sara Huebener
(Edina Realty)
By Chad & Sara Huebener It's March, and fortunately it is starting to feel like spring!  The market is reflecting that as well.  West Savage inventory is virtually unchanged from last month.  There were 8 new listings this month, compared to 7 last month, and there are currently 22 total listings, down from 23 last month.   However, there is a significant change that is good news - pending sales in West Savage have tripled in the past month.   An increase in showing activity, offers, and sales are a normal reflection of spring market.    We expect to see this number continue to rise in the next few months as relocation clients moving to and from our area will begin to sell (and seek) homes in alignment with the school year.   Foreclosures and short sales continue to be a driving force i...
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By Kenden Post
(Coldwell Banker Burnet)
Here are the final sales numbers for Savage, MN. January 2009 home sales; Savage, MN January January January Entire Year Entire Year Entire Year Scott County, MN 2008 2009   Change 2007 2008   Change New listings 41 48 17.1 1091 941 -13.7 Closed Sales 25 22 -12 375 350 -6.7 Median Sales Price 290142 259343 -10.6 282315 259568 -8.1 Avg. Sales Price 247,500 226375 -8.5 257000 240500 -6.4 % of orginal list pirce received 92 88.9 -3.6 95.7 92.5 -3.4 Avg. Days of Market  162 144 -11.1 129 130 11.6 Single-family detached inventory 143 143 0       Townhouse-condo inventory 105 91 -13.3         If you have any questions about this information on home sales for Savage, MN. please feel free to contact me. Kenden Post-Ketterling Group Coldwell Banker Burnet-Apple Valley www.KendenPost.com Kenden@K...
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By Chad & Sara Huebener
(Edina Realty)
By Chad Huebener The opening date for Spring Market is February 1, and we are seeing the market come to life in Scott County and Savage as a whole.   We are beginnign to see heavier showing/open house activity as buyers begin searching for homes.  In our West Savage community, inventory is virtually unchanged from last month.  There has been no increase in the percentage of new listings in the last 45 days compared to January 2009.   Total listings in West Savage are down by 4%, which is good for sellers because it equates to less competition.   Pending sales have also remained unchanged since January 2009, and total sales (closed listings) have declined as the pre-holiday sales finally closed on paper.  In West Savage in recent months, we are seeing an average of two homes sell each mo...
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Here are the final numbers for Savage, MN home sales for December and year 2008. Savage, MN December December December Entire Year Entire Year Entire Year Scott County, MN 2007 2008   Change 2007 2008   Change New listings 41 48 17.1 1091 941 -13.7 Closed Sales 25 22 -12 375 350 -6.7 Avg. Sales Price 290,142 259,343 -10.6 282,315 259,568 -8.1 % of orginal list pirce received 92.3 88.9 -3.6 95.7 92.5 -3.4 Avg. Days of Market  162 144 -11.1 129 144 11.6 Single-family detached inventory 143 143 0       Townhouse-condo inventory 105 143 36.2         If you have any questions about this information on home sales for Savage, MN. please feel free to contact me. Kenden Post-Ketterling Group Coldwell Banker Burnet-Apple Valley www.KendenPost.com Kenden@KendenPost.com (o)952-997-1960, (f)952-997-...
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By Sara Huebener I don't know if it was the warmer temps, or if people are really starting to see the positive aspects of purchasing a home in today's real estate market.  But I DO know that buyers were out in droves this Sunday, going through open houses.  The heavy traffic through my Super Bowl Open was refreshing!  Most of the people through the open house were toying with the idea of buying a larger family home to accommodate their needs.  I found their comments to be very telling.  Most of them commented that the deals and interest rates are so great that they are thinking about selling their existing homes to get what they really want and need for their families, and all seemed to understand that dollar-for-dollar, they would come out ahead in the long run with the purchase of a l...
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By Chad & Sara Huebener
(Edina Realty)
By Sara Huebener The Price Range Supply Analysis is one of my favorite means for gauging our local real estate market.   I would like to talk about our local housing market in particular, for December 2008.   The Southern Twin Cities Association of REALTORS® Housing Supply Outlook reports that the inventory of homes priced between $250,000 and $500,000 (which is the predominant price point of the West Savage market) is down an average of 21.95% from last year's numbers.   Simply stated, fewer people in the $250,000 to $500,000 price point are attempting to sell their homes at this time.  However, the report states that the months supply of current inventory is down -.45% compared to 2007.  This tells us that homes in the $250,000 - $500,000 range are starting to sell faster than they w...
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By Chad & Sara Huebener
(Edina Realty)
This article was published in Savage's The Pointe Neighborhood Winter Newsletter, and was submitted on December 17, 2008.  By Sara Huebener These days, more than ever before, the status of the real estate market seems to be a hot topic.  In a day and age when people have unexpectedly seen home values and retirement accounts plummet, it's true that concern and uncertainty abound.  Therefore, it comes as no surprise when people call us to inquire about the current market.  Their primary questions regard possible decline in the value of their current home, whether we have reached the bottom of the market, and how long it will take to "get back to where we were". The years 2000-2004 were incredible times for the Twin Cities housing market as far as most are concerned, especially in The Poin...
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By Sara Huebener I was excited to find that on Wednesday morning, David Crook, a national real estate expert, was featured on the KQRS morning show.  Mr. Crook wrote a book, of which an excerpt was published in the January 18 Star Tribune.  After listening to Mr. Crook and reading the excerpt, I have two comments:   1.  He had some valid points, and  2.  He is truly what he claimed to be - a national housing expert.   I admit I have not read his book.  Based on the KQ broadcast and the excerpt, one thing I do not recall Mr. Crook illustrating is that housing is local.   Mr. Crook states that "today's problems do clearly signal that home owning can no longer serve one of the roles it has had for the last 60 years - as American's principal means of building wealth".  He admits that for th...
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By Sara Huebener I would like to share some general housing stats that point towards housing recovery.  With that, I have some a couple tidbits existing homeowners should keep in their back pockets for when and if they need to sell. Inventory in the Twin Cities is first and foremost.  In July of 2007, when our market was at one of its lowest dips, housing inventory sat at 36,000 homes.  Today, inventory is down to 26,000 homes.   That 28% drop is GOOD NEWS!   Tie that in with an 18% increase in pending sales in the past four months and we see signs of recovery on the horizon.   2009 promises to be a year to "watch".  Even if growth is minuscule, any growth at this time is good news for our market.  Now for more.....  Interest rates on a 30-year fixed mortgage are just 4-7/8%.  WOW.  Rat...
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By Kenden Post
(Coldwell Banker Burnet)
Here is the information for home sales in Savage, MN. for the month of September 2008; Savage, MN   September         YTD   Scott County 2007 2008   Change 2007 2008   Change New listings 86 84 -2.3 897 770 -14.2 Closed sales 32 24 -25 295 240 -18.6 Avg. sales price 291765 274586 -5.9 285278 258556 -9.4 % of original list price  94.4 93.4 -1 95.9 93.2 -2.9 Avg. days on market 154 116 -24.5 130 146 12.7 Single family inventory 192 184 -4.2       T/H-Condo inventory 114 111 -2.6           If you have any questions about this information please feel free to contact me. Kenden Post-Ketterling Group Coldwell Banker Burnet-Apple Valley www.KendenPost.com Kenden@KendenPost.com (o)952-997-1960, (f)651-209-0989 Statistics courtesy of Minneapolis Association of Realtors www.MnShortSalesExpert.com  
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By Kenden Post
(Coldwell Banker Burnet)
Here are the figures for February home sales for Savage, MN;Savage, MNFebruaryFebruaryFebruaryYear to DateYear to DateYear to DateScott County, MN20072008   Change20072008   ChangeNew Listings10080-20197153-22.3Closed Sales2316-30.44135-14.6Avg. Sales Price$246,276 224,475-9$276,878 $244,410 -11.7% of original list price received at sale96.193.6-2.69693.3-2.8Avg days of market until sale12114620.713314912Single family detached inventory1481501.4Townhouse-condo inventory1041127.7 If you have any questions please feel free to contact us.Kenden Post-The Ketterling GroupRHS Realty-Apple Valleyhttp://www.kendenpost.com/Kenden@KendenPost.com952-997-1960Know someone that is facing foreclosure? Visit http://www.rhsrealty911.com/ for information.Information courtesy of the Southern Twin Cities A...
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By Kenden Post
(Coldwell Banker Burnet)
Here is the sales data for the month of December for Savage, MN.;Savage, MN.  November November November    YTD    YTD    YTDScott County MN.2006 2007 % Change2006 2007 % ChangeNew Listings43 41 (5)1005 1090 9 Closed Sales26 21 (8)413 345 (17)Avg. Sales Price288104 281061 (2)294820 280361 (5)% of original list price at close96 92 (4)97 96 (2)Avg. Days on market until sold135 160 19       NA134        NASingle family detached inventory119 136 14        -         -        -Townhome/condo inventory107 99 (8)       -         -        - Any questions on this information for Savage, MN. please feel free to contact us.Kenden Post-Ketterling GroupRHS Realty-Apple Valleywww.KendenPost.comKenden@KendenPost.com952-997-1960Information on the foreclosure process in Minnesota can be found at www.RHSR...
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By Kenden Post
(Coldwell Banker Burnet)
The following information is for Savage real estate transaction for the month of November;Savage  November November November    YTD    YTD    YTDScott County Minnesota2006 2007 % Change2006 2007 % ChangeNew Listings57 67 18 962 1049 9 Closed Sales22 17 (23)387 321 (17)Avg. Sales Price294664 216600 (27)295271 280600 (5)% of original list price at close97 95 (2)97 96 (1)Avg. Days on market until sold92 101 10       NA132        NASingle family detached inventory119 161 35        -         -        -Townhome/condo inventory90 115 28        -         -        - If you have any questions on the information please feel free to contact us.Kenden PostRHS Realty-Ketterling Group952-997-1960www.KendenPost.comKenden@KendenPost.comThe information was provided by the Minneapolis Association of Realt...
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