Senna Hills is a great community that's just West of Austin and feeds into the fabulous school district called Eanes ISD. For several years, I gave the Senna Hill's homeowners a hard time for over-pricing their properties. They always had this perception that their properties were made of gold and should retrieve a premium over other comparable communities. Because of that, their sales were slow and mediocre.
In January of 2013, I did a market analysis showing the sales difference between 2011 vs 2012. You can read about that Senna Hills market report here. To summarize it, I pointed out that I gave a "tip 'o the hat" to Senna Hills' home owners for sticking the slower market out and coming in with strong sales year over year.
Now it's 2014, and how does Senna Hills compare year to date with 2013 at the same time, through October 1 of each respective year?
2014 there were 22 sales- High sales price was $780,000 and 65 days on the market was the longest for any given listing. Low sales price was $457,500 and 0 days on the market for any given listing. The Average sales price was $665,232 with 17 days on the market, and a mere 6 days on the market was the Median.
2013 there were 26 sales- High sales price was $899,900 and 59 days on the market. Low sales was $450k and 0 days on the market. Average was $675,850 with 17 days on the market, and also 6 days as the Median.
What can I say about the difference? Thus far, in 2014, there are 18.2% less sales than 2013. That sounds like a lot, but it's only 4 sales. In 2011, there were 31 sales and 2012 had 30 sales. Currently, there is not a single Active listing in Senna Hills. That tells me the demand is higher because the supply is lower, so it helps drive prices up. Since 2012, the Average sales price has gone up about 16%, from $573,718 to this year's $665,232.
Look at the days on the market charts. Demand is definitely sought-after in Senna Hills as the houses aren't staying on the market long at all! More of a percentage are selling in under 30 days with that median number being 6 days (for both years). The green section is for 60-90 days, but both listings in that group are at 65 days, so still not too far from the under 60 days group.
No, I am not ignoring that the average price went down from $675k to $665k over 2013 and 2014. I attribute that difference to the fact that 2013 had a property that was $120k more as the highest sale compared to 2014. Averages are harder to compare when you don't have the exact kind of sales each year. But that $10k difference is a drop in the bucket compared to the $98k difference from 2012.
Overall, Senna Hills in West Austin is a great community with many community amenities like pool, tennis, basketball course, and views galore. If you would like further information about Senna Hills or detailed information like this on your own neighborhood, please let me know.
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