Are you curious about the shifts happening in Sienna’s real estate market and wondering why now might be the perfect moment to make a move? In this Sienna Real Estate Market Report, we’ll break down the latest stats and trends, plus give you some exciting community updates.
Sienna Community Updates: Real Estate and Events
It’s back-to-school season in Sienna, which means more traffic on the roads and busy mornings for commuters. On a lighter note, mark your calendars! On September 28th, The Adams Group is hosting Sienna’s first Pickleball Tournament. Be sure to check out the event details on our www.theadamsgrouptx.com and our social media.
Current Real Estate Market in Sienna, Houston, TX
Now let’s dive into the latest real estate statistics for July 2024 compared to last year. Despite some disruptions caused by Hurricane Beryl, the market has remained resilient.
- Active Listings: Sienna has 280 active listings, up 23% from last year. This increased inventory gives buyers more options.
- Average Sales Price: The average sales price rose by 5.3%, now sitting at $669,900. Despite market fluctuations, home values in Sienna continue to appreciate.
- Homes Sold: July saw 83 homes sold, down slightly by 8.79% year over year, largely due to the impact of Hurricane Beryl.
With 41 average days on market, it’s taking a bit longer for homes to sell compared to last year. But don’t worry—this is common during periods of increased listings and weather disruptions. In total, 523 homes have sold this year, nearly identical to last year’s 524 sales at this time.
Interest Rates: A Window of Opportunity for Buyers and Sellers
Here’s some great news—interest rates are now the lowest they’ve been in over a year. We’ve seen rates drop nearly a full percentage point since May, and experts predict they may drop even further as we head toward the election. This is creating a window of opportunity for both buyers and sellers.
For buyers, lower rates mean more purchasing power. Right now, with more inventory and less competition, it’s a great time to find your dream home in Sienna. However, don’t wait too long—once rates dip below 6%, buyer demand is expected to surge, making the market more competitive.
For sellers, this is your moment. More buyers are expected to enter the market soon, which means your home could sell faster and for a higher price. If you’re thinking about selling, consider acting now to take advantage of favorable conditions.
Final Thoughts: Is Now the Right Time to Buy or Sell in Sienna?
Whether you’re thinking about buying or selling in Sienna, the current market offers unique opportunities. Buyers can take advantage of increasing inventory and falling interest rates, while sellers can prepare for an influx of potential buyers in the near future.
If you have any questions or need personalized advice, The Adams Group is here to help. Contact us today or visit our website to learn more about available listings, market trends, and how we can help you achieve your real estate goals.
Stay tuned for next month’s market report, and don’t forget to check out our upcoming Pickleball Tournament on September 28th!
For more detailed market insights, visit www.theadamsgrouptx.com or follow us on Instagram at @TheAdamsGroupTX.
