Magnolia’s real estate market showing some weakness

    Magnolia’s real estate market showing some weakness

This Week:

The median list price this week in Magnolia is $1,073,950 is down from last week’s  list price of $1,140,000.  The Market Action Index (see MAI chart below) has been trending down lately, while inventory and days-on-market are climbing.  The trends imply a weakening market..

MAGNOLIA REAL ESTATE SUPPLY AND DEMAND

The market has not shown strong directional trends in terms of supply and demand.  However,  inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.

Average days-on-market: 64 up  from last week’s 59 days.

Percent of properties with price decreases: 19% down  from last week’s 30%.

PRICE

Price trends for the Magnolia real estate marketplace continued their recent uptrend this week.   While still below the market’s high point, we’ve seen a nice run recently.  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

Magnolia