Savoy's real estate market is experiencing a price correction, with values down 18.7% from last year. Home prices have decreased 35.2% in the past month. With 2.2 months of supply, Savoy's inventory levels remain relatively tight. Homes are taking about 41 days to sell, which is -20 days longer than this time last year. A significant 23.1% of listings experienced price reductions, indicating sellers may be adjusting to market realities. The majority of homes (66.7%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the Savoy market with the affordability index at 170.8. Based on current market indicators, home prices in Savoy are projected to increase by approximately 8.8% over the next month.