While the number of sales are down in Magnolia Creek (19 this year, 29 last), prices are up. Last year homes sold at an average of $84.67 per square foot in the neighborhood while this year, they’re selling at 89 bucks a 4.8% increase. It is interesting that the average home sold last year was 2,903 while this year it is 3,117. Guess people are opting for larger homes!
The average market time for homes in Magnolia Creek is about 10 weeks. Just about the same as it was last year but there’s less to choose from. Based on sales for the past 90 days, there is about 3 months of inventory available. Meaning that if no new homes became available, the current inventory would be sold out in 90 days.
Click here to see the Current Magnolia Creek Inventory
As of today there are a total of 21 homes for sale in Magnolia Creek; 6 of those are under contract. Builders in Magnolia Creek included Coventry, David Weekely and Plantation. There are a handful of customs built there as well by Reed, Baycrest Homes, Bilmar and Texas Signature.
Homes in Magnolia Creek range from 3 to 5 bedrooms, 2 to 4 baths and are situated on lots ranging from about 7,500 to some monster lots at 17 or 18,000 square feet. If you’re interested a home on a larger lot, be sure and let me know; we’re listing one in a couple of weeks with a 17,200 square foot lot and it’s going to be a stunner.
The neighborhood was started in 2000 and finished out in 2011. The tax rate for Mag Creek is $2.56 however there is a PID which will vary depending on the size of home. HOA dues are $660 per year.
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