Home sales have been exceeding new inventory in Magnolia

By
Managing Real Estate Broker with 206 909-7536 AdrianWillanger-broker.com 17900

    Home sales have been exceeding new inventory in  Magnolia 

This Week:

The median list price this week in Magnolia is $949,000  is unchanged from last week’s  list price of $949,000.   Inventory  has been lightening lately and the Market Action Index (see MAI chart below) has been trending up.  These are mildly positive indications for the market.

 

Magnolia real estate supply and demand

Home sales have been exceeding new inventory for several weeks.  However prices have not yet stopped falling.   Since the market is already in the Seller’s zone, expect prices to level off very soon.  Should the sales trend continue expect that prices could climb from there. T

Average days-on-market: 88 up from last week’s 77 days.

Percent of properties with price decreases: 37% up  from last week’s 32%.

 

Price 

Prices in Magnolia have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.    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? Real Estate Market Chart by Altos Research www.altosresearch.com

Looking to purchase a home in Magnolia?

Seattle real estate market momentumLooking 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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Adrian specializes in green home marketing utilizing traditional and social media marketing to create the widest exposure of your property.

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Rainmaker
2,051,329
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Hi Adrian, You are rapidly approaching the 1 Million point level and Congrats to you when it is achieved here in the next few days. Did you go to the Martha Rose Behund the Walls event? 

Oct 30, 2014 08:03 AM #1
Rainmaker
680,080
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

I wish this were true for Arizona. New Builders are building out of their minds right now and it's severely haulting home prices and the resale market. There's way too much inventory for them to be building like they are right now. 

Oct 30, 2014 08:43 AM #2
Rainmaker
1,571,116
David Saks
(retired) - Memphis, TN

98119 is the Ritz, Adrian :-) This is a fine post and great information. Have a great day ahead. Nicole, I believe I've see your pics on Pinterest. You're very attractive !

Oct 30, 2014 06:27 PM #3
Rainmaker
955,688
Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

Adrian, your Magnolia real estate market review help consumers understand why your the local real estate expert.

Oct 31, 2014 12:34 AM #4
Ambassador
2,011,298
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Well, it looks like it's time for sellers to get their homes listed in Magnolia. Strong sellers market and great interest rates for buyers make for a perfect time for sales.  Hope you're staying busy - Happy Halloween. d

Oct 31, 2014 03:02 AM #5
Rainmaker
4,314,447
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Adrian, interesting to see the inventory dropping and sales increasing especially for this time of year!  

Oct 31, 2014 03:11 AM #6
Rainmaker
1,342,185
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Adrian - Another great real estate market update for homes in Magnolia.

Oct 31, 2014 03:17 AM #7
Rainmaker
2,051,329
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Adrian, 

Magnolia still looks and sounds like a sellers market. Thanks for analysis and market report.

Oct 31, 2014 04:04 AM #8
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Rainmaker
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Adrian Willanger

Profit from my two decades of experience
What's the Seattle real estate market doing? Ask me..
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