December Market Update: Siena Community

Hello, Siena homeowners! As we say goodbye to 2024, let’s look at how the Siena real estate market wrapped up in December and consider the trends we’ve seen over the past few months.

Market Highlights for December

Active Listings: 24 homes are currently for sale.
Pending Listings: 5 homes are under contract.
Homes Sold: 8 homes closed in December.
Average Sold Price: $419,000.
Average Price per Square Foot (Sold): $179.
Days to Sell (Sold): 40 days on average.
Average Days on Market for Active Listings: 119 days.
Average Price per Square Foot (Active): $190.

Key Trends in Siena

Fewer Active Listings: The number of active listings continues to decline, from 35 in October to 24 in December. This is great news for sellers, as reduced inventory means less competition.
Stable Sold Prices: The average sold price has remained consistent over the last few months, hovering around $419,000. This stability reflects strong buyer interest in Siena’s affordability and amenities.
Quicker Sales: Homes sold in December averaged 40 days on the market, a significant improvement from 73 days in November and 81 days in October. This trend suggests that well-priced, move-in-ready homes are attracting buyers faster.
Wider Price Range in Active Listings: Active listings are priced higher per square foot at $190, compared to the $179 per square foot average for sold homes. This could mean buyers are still prioritizing value when making offers, especially as affordability becomes a larger factor.

What’s Driving Buyer Interest in Siena?

Siena remains an attractive community for families and professionals looking for a balance of convenience and value. Its proximity to excellent schools, parks, shopping, and major roadways makes it a popular choice, while its affordability compared to other neighborhoods keeps it competitive in the market.

Advice for Homeowners

For Sellers: With fewer homes on the market and quicker sales happening, now is a good time to list your home. To attract buyers, focus on pricing competitively and ensuring your home shows well. Small updates or staging can make a big difference.
For Buyers: With only 24 active listings, inventory is tightening, so don’t wait too long if you find a home you love. Work with your agent to make competitive offers, especially on homes priced closer to the sold average per square foot.

Looking Ahead

As we move into 2025, Siena is well-positioned to remain a desirable neighborhood for buyers. Whether you’re considering selling, buying, or just keeping up with the market, I’m here to help you navigate the year ahead.

Thank you for being part of what makes Siena such a wonderful place to live. Here’s to a fantastic new year in our community! 🏡