Bullish signs this week for Magnolia real estate
This Week:
The median list price this week in Magnolia is $1,130,450 is up from last week’s list price of $1,105,950. Inventory is tightening and days-on-market is falling. The Market Action Index (see MAI chart below) shows demand heating up. These are relatively bullish signs for prices.
Magnolia real estate supply and demand
The market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to fall lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Average days-on-market: 107 down from last week’s 121 days.
Percent of properties with price decreases: 33% down from last week’s 37%.
Price
The market for Magnolia continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
View recent sales in the Magnolia neighborhood. Localized real estate market reports are great for getting a “feel” of what that specific market is doing.
For a more accurate pricing on residential property a Competitive Market Analysis (CMA) needs to be done comparing your home with current properties that have sold recently in your neighborhood for a detailed report contact Adrian Willanger @ 206 909-7536.
How do Magnolia median list prices compare to Queen Anne Hill?
Looking to purchase a home in Magnolia?
Looking to buy check out our new homes and lifestyle search below. Search homes for sale, neighborhood amenities and view real estate trends in and around Magnolia. For more individualized information contact Adrian Willanger. Seattle’s Magnolia neighborhood is the second largest neighborhood in the Seattle area with roughly 20,000 residents. Magnolia is bordered by Salmon Bay and Shilshole Bay and the Lake Washington Ship Canal. The majority of homes in Magnolia are either built near or close to a hill allowing many Magnolia residents great views. View homes in Magnolia are a prize to be had and are in great demand.
Living in Magnolia Water, Parks, views and shopping Magnolia
Magnolia in addition to being surrounded on three sides by water it has an abundance of public parks that offer visitors and occupants the opportunity to hike, run, picnic while enjoy major water and mountain views. One of the largest attractions of Magnolia is the “Village” which has everything one needs without having to drive away from the neighborhood. The popular shopping community has many homes for sale that are within walking distance to Magnolia Village. Sunday’s open houses in Magnolia are always extremely busy filled with residents of Magnolia and home-buyers looking to purchase a home in Magnolia. New listing within the last 7 days New bank owned and short sales within the last 7 days Pending sales within the last 7 days Upcoming open houses
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