Homes in Siesta Village are taking longer to sell in this rolling three-month view, with a median of 74 days on market, up sharply from a year ago. Even with this slower pace, the area is still classified as a seller’s market, indicating that demand continues to outpace supply.
Prices have moved higher over the past year, as the typical home value is up nearly 28 percent year over year. At the same time, the median list price has edged down compared with last year, suggesting sellers may be pricing more cautiously. Few homes are selling above list, and the average sale-to-list ratio sits just under 100 percent.
Inventory remains tight, with only about 1.6 months of supply, far leaner than Phoenix overall, which has 3.8 months of supply. Active listings are down nearly a third from a year ago, and new listings have fallen more than 60 percent, yet homes sold have increased year over year. This mix of limited options and rising values can be challenging to navigate, so both buyers and sellers in Siesta Village can benefit from Agent Pronto’s help finding a local real estate agent who knows the dynamics of this market.
