Market Overview
Market Snapshot:
- Active Listings: 26
- Pending Listings: 9
- Homes Sold: 6
- Average Sold Price: $364,000
- Days to Sell: 57
- Average Price per Sq. Ft.: $195.78
- Close Price to Original List Price Ratio: 92.8%
- Average Days on Market for Active Listings: 70
- Average Price per Sq. Ft. for Active Listings: $189.51
Key Takeaways & Trends
✅ Sales Slowed in July: After three months of 10–12 closings, July brought just 6 sales — the lowest monthly total we’ve seen since early spring.
✅ Buyers Negotiating More: Homes sold for an average of 92.8% of their original list price, down from 95.3% in Q2, showing that buyers are pushing back on pricing.
✅ Average Prices Dip: The average sold price fell from $422K in June to $364K in July — but this shift likely reflects more activity in the lower price ranges, not necessarily a broad drop in value.
✅ Price per Sq. Ft. Stable: At $195.78/sq. ft., pricing stayed in line with last month, suggesting overall home values are holding even as price points vary.
✅ Homes Taking Longer to Sell: With an average of 57 days on market and active listings sitting even longer (70 days), patience is becoming part of the process.
📉 Month-over-Month Snapshot
Compared to June, sales volume dropped (10 → 6), average sold price came down, and sellers are giving up more in negotiations. However, price per square foot and buyer activity (9 homes under contract) still show interest in the neighborhood — especially when homes are well-priced.
📍One Last Thought
Real estate is hyper-local — and in neighborhoods like Siena, market conditions can vary from street to street. If you’re thinking about buying, selling, or just want to know what’s happening on your block, we’re here to help you make smart, informed decisions.
Stay tuned for next month’s update, and feel free to reach out with any questions about the Siena market!
Kyle Pfaffe | Realtor® | 512-636-9707
