Siena Round Rock had another strong year of growth in its real estate market in 2019 and shows good signs for 2020. As the number of builders actively constructing homes starts to decline in Siena, the market should take an interesting turn in 2020. Here is your market report for 2019 for Siena Round Rock.
Looking at all homes sales – included new construction – the median sales price in Siena for 2019 was $285,421, a +2.3% increase from 2018 when the median price was $278,950. The total number of homes sold in Siena was 71 higher in 2019 – a total of 335 homes sold!
While the total numbers are important, the housing report for just resale homes are much more informative for Siena Round Rock home owners. If you are trying to understand the potential value of your home or considering how successful you might be in selling it. you want to compare your home against the other resale homes in Siena.
Looking solely at the numbers for resale homes in Siena, the median sales price actually increased MORE than the median price with new homes included! The median sales price for resale homes in Siena was $275,500 – a 6.0% increase in 2019! The median sales price per square foot (at better metric to actually figure your homes value) was $130, a 1.6% increase from the $128 number in 2018. Also, the total number of resale homes sold in 2019 increased 5.1% to 225.
While most numbers trended favorably for Siena Round Rock homeowners, the days on market – the average length of time it took a resale home in Siena to sell – in 2019 actually increased from 29 days in 2018 to 43 days in 2019. This number increased, but is not concerning overall – the market is still very much a seller’s market in Siena. That being said, it is becoming more important that you price your home accurately for the market if you want to actually sell your home. The inventory level in Siena decreased to 1.89 months of supply currently versus 2.62 months of supply for the first half of the year. To put this in perspective, a balance market for buyers and sellers is about 6 months supply – we are still very much in a seller’s market!
I’ve also included another interesting look at the market for Siena – your odds of selling if you were to list your home. Currently, your odds are at 69%, but here is the full report.
Curious how much your home in Siena is worth? Click here to sign up to receive you complete valuation. If you have any questions about the Siena Round Rock, the community or any real estate questions that I can answer, please let me know!