NO, it will NOT be in your saved listings. If you delete it is GONE forever!! BYE BYE listing!!
Listings are immedite, as I have deleted a couple by accident realizing it within a second of hitting button to discover there is no holding place for them.
Pictures you delete go into what I think of as a short hibernation period, I think 14 days they are save until system drops those.
Wish they had this same hibernation for deleted...just in case of acccidental delete.
Hope I understood your question???