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Featured local agent — Savoy, IL
Sarah Mitchell
Compass Real Estate · Savoy, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Savoy, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$432,000median sale price
How is the Savoy, IL housing market right now?
The median home sale price in Savoy, IL is $432,000, up 1.3% year-over-year. Homes sell in an average of 51 days with 40 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Savoy a buyer's or seller's market?
Savoy, IL is currently a leaning buyer's, based on 6.7 months of supply and homes selling in about 51 days. How we determine this →
Homes sold
6
Last 12 weeks
Days on market
51
Average pace
Active listings
40
6.7 months supply
Sale-to-list
100.5%
Above asking
What does the Savoy housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $432,000 |
| Median list price | $410,000 |
| Year-over-year price change | +1.3% |
| Average days on market | 51 days |
| Active inventory | 40 listings |
| Months of supply | 6.7 months |
| Sale-to-list price ratio | 100.5% |
| Median price per sq ft | $212/sq ft |
| Homes sold (latest month) | 6 |
| New listings (latest month) | 23 |
| Listings with a price cut | 17.5% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
How much do homes cost in Savoy by property type?
How the Savoy, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $440,000 | $215/sq ft | 5 | 51 days |
| Condo / Co-op | $225,000 | $163/sq ft | 1 | 27 days |
| Townhouse | $287,000 | $201/sq ft | 1 | 4 days |
Source: Redfin · Updated monthly
The Savoy housing market is currently classified as a leaning buyer's with a median sale price of $432,000. Prices have risen 1.3% compared to last year, with homes spending an average of 51 days on market, indicating 6.7 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.0x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Savoy
There are currently 40 homes listed for sale in Savoy, Illinois. The median listing price is $410K.
Active listings
40
Homes on market
Median list price
$410K
Avg. days on market
51
Days until sale
New this week
23
Newly listed
Who lives in Savoy?
Population
8,807
Median income
$88,828/yr
Median age
38.3 years
Owner-occupied
58.8%
College grads
58.8%
Avg commute
17 min
Source: U.S. Census Bureau ACS
What are homes worth in Savoy?
Zillow home value
$355,277
Zillow rent index
$1,428/mo
Price-to-rent ratio
20.7x
Price-to-income
4.0x
Source: Zillow Research
What is it like to live in Savoy?
Savoy is a community of approximately 9K residents with a median age of 38.3 years.The median household income is $88,828, which reflects a relatively affluent area with strong earning potential. 58.8% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 58.8%, showing a blend of owner and renter-occupied properties. The average commute time is 17 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Savoy offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Savoy?
1 schools tracked · 451 students
The largest public schools serving Savoy, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Carrie Busey Elem School
Grades K-5 · 451 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Savoy, IL?
Want a head-to-head view? Compare Savoy side-by-side with any other U.S. city using our market-comparison tool.
Is Savoy a good real estate investment market?
For investors evaluating Savoy, the price-to-rent ratio of 20.7x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 1.3% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Savoy's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Savoy's median home price.
Frequently asked questions
What is the average home price in Savoy?
The median home sale price in Savoy is $432,000, up 1.3% from last year.
How long do homes stay on market in Savoy?
Homes typically spend 51 days on market before going under contract.
What is the median income in Savoy?
The median household income is $88,828 per year.
Is Savoy a buyer's or seller's market?
With 6.7 months of supply, Savoy is currently a leaning buyer's.
What is the Zillow home value estimate for Savoy?
The Zillow Home Value Index (ZHVI) for Savoy is $355,277, representing the typical home value in the area.
What is the median condo price in Savoy?
The median condo/co-op sale price in Savoy, IL is $225,000, compared to $440,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Savoy?
The median single-family home price in Savoy, IL is $440,000 (about $215 per square foot).
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