Magnolia’s real estate market times down sufficiently

              Magnolia’s real estate market times down sufficiently 

This Week:

The median list price this week in Magnolia is $999,972 down from last week’s  list price of $1,022,498. Inventory has been lightening lately and the Market Action Index (see below MAI chart) has been trending down up.  These are mildly positive indications for the market. .

Magnolia real estate supply and demand 

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result.  Expect this trend to continue especially if the index falls to the Buyer’s zone.  Watch for a persistent up-turn in Market Action to signal prices rising again.

Average days-on-market: 58 down  from last week’s 80 days.

Percent of properties with price decreases: 26%  up   from last week’s 28%.

PRICE

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau.  Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

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 MagnoliaWater, 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.