We are officially over halfway through the year, and so far in 2019, single-family home sales have experienced strong gains in the Siena Round Rock neighborhood as the sales dollar volume was $14,136,000—a 91% increase from the first six months of 2018. This only accounts for resale homes, not builder inventory or to-be-built homes. As many of those records are not included in the MLS, it seemed best to entire leave them out of this report. Besides partially skewing the numbers, new home sales are not a good comparison or indicator of the values or market for resale homes. To give you the best information, we limited this information to resale homes.
In Siena Round Rock, single-family home sales increase 85% to 50 sales and the median price of a single-family home rose 3% to $282,724. New listings increased 63% to 83, active listings increase 73% to 78, and the average price per square foot of homes sold in Siena increased 4% to $127/sqft. Monthly housing inventory (of resale homes) is 4.3 months of inventory, which is below the Real Estate Center of Texas A&M University’s benchmark of 6.0 months as a balanced housing market.
Austin remains one of the most desired cities to live in the U.S., as more people are moving into the city and its surrounding suburbs than moving out. As a result of this, along with limited inventory and increasing home prices, there have been fewer home sales area-wide in the past 6 months. In an effort to create more affordable housing, developers are focusing their efforts on building more dense communities in the suburbs.
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By your Siena Real Estate Expert & Neighbor Kyle Pfaffe