Magnolia real estate demand and inventory both falling

  Magnolia real estate demand and inventory both falling 

This Week:

The median list price this week in Magnolia is $1,074,995 up from last week’s  list price of $999,972. The Market Action Index (see below MAI chart) has been trending down lately, indicating demand falling along with supply.  Conditions point to mildly negative trends for the market.

Magnolia real estate supply and demand 

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.  However,  inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI.  If the market heats up, prices are likely to resume an upward climb.

Average days-on-market: 63 up  from last week’s 58 days.

Percent of properties with price decreases: 32%  up   from last week’s 26%.

PRICE

Real estate prices in the Magnolia neighborhood are bouncing around near term trough.  Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.

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.