There was an overwhelming demand for housing in 2021, and the Siena Round Rock market was no exception. This community saw record levels of activity for the year 2021—with huge increases in both pricing and volume, along with a nearly 15% increase in total volume property sales.
The Siena real estate market exploded in 2021 with prices making huge jumps. Millions of dollars of equity were added to Siena homeowners over the past year.
– Kyle Pfaffe, Siena real estate expert
The low inventory, increased demand, and freedom of movement with virtual learning all factored into a huge year for home prices and sales in Siena. The delayed market from COVID shutdowns added “fuel to the fire” as sellers took advantage of rising prices.
The median sales price for homes in the Siena community jumped 39% to $420,000 in 2021 from $301,390 in 2020. Have you noticed how fast the housing market is moving? The pandemic has affected Siena’s real estate market, and this is predicted to continue throughout 2022.
The total number of homes sold in 2021 was down 8.5% over the previous year. That’s 408 homes in 2021, versus 446 in 2020. Although this is usually a sign of a market decline, it is more likely the result of comparing to huge numbers from 2020 and sellers feeling like they have no place to go if they were to sell.
Resale homes in Siena sold in 2021 took 15 days to sell on average – nearly a month faster compared to the same time in 2020, when homes sold in an average of 49 days. The number of new listings in Siena in 2021 grew 6.8% from last year and the total volume of sales in Siena reached $128.5m, a 59% increase compared to 2020! The average price per square foot also rose 27% to $140/ft. from $110/ft. 2020.
In 2022, I anticipate that the Siena Round Rock community real estate market will remain very strong while cooling off from the astronomical increases we saw in 2021. I expect values to rise at a steady pace, just not as steeply as in 2021.
Here are a few factors I am keeping my eye on:
- New home construction in Siena wrapping up
- Multi-family developments completing and apartments for rent hitting the market
- Commercial projects on CR 110 and surrounding areas being completed.
- KB Homes new Salerno project underway and providing new home sales in the area
- Hutto Fire Station #3 being completed
What does all of this mean for home buyers and sellers in the Siena area?
FOR SELLERS, it is a very strong market you will be entering but how do you plan your move and how do you make sure to get the best price and best terms for your move? Let’s talk about your options and lay out a plan to get you the best scenario. In the meantime, you can get an INSTANT Home Value estimate for free here.
FOR BUYERS, the market will be very competitive this year. I recommend starting your home search early and giving yourself plenty of time to find the right home. Be patient and persistent. It could take a few others to win the house you want. I have some strategies to help you win in this market – contact me to discuss how we can make your home buying vision a reality. If you are interested specifically in Siena market, join my interest list to get a first look at homes coming up for sale in Siena.
Kyle Pfaffe | Realtor® | 512-636-9707
