This month in West Savage, very little has changed since last month, with only 7 active properties and two closed sales. The Oak Hills and Amberwood neighborhoods currently have had the most listing activity.
We are continuing to hear school district concerns from potential sellers who reside in Savage in the Shakopee district (720,) and have a child(ren) enrolled in Prior Lake Savage (719) schools and cannot get younger siblings into the same district due to the closing of open enrollment. From a micro-localized standpoint, this is a considerable discussion topic as it pertains to the housing market and potential inventory in our area.
Prior Lake Savage area schools and Shakopee schools both scored very highly on Niche.com’s rating of school districts across in the country – both were in the top 30 in Minnesota! The driver for many people, however, is having siblings in separate school districts where older siblings are already established. All this said, in late March, the Prior Lake Savage district may be opening more kindergarten seats in the district, and doing so may alleviate some families’ decision on whether or not to move. Regardless, we expect that a number of homes will begin to start hitting the market. At this time, there are 4 active properties on the report in Savage within the Shakopee district. (As for the pending sales, ironically, 2/3 of the properties are in Savage - in Shakopee schools.)
This month, single family inventory in Savage has risen, while townhome inventory in Savage has decreased. In Scott County as a whole, both single family and townhome inventory has increased. The West Savage absorption rate is 1.58 this month. That means if zero new homes come on the market, it will take 1.58 months to sell our existing inventory.