Magnolia, Seattle Real Estate Update

If you are looking for homes for sale in Magnolia, Seattle, the two best ways to start the process are by finding a Magnolia, Seattle Realtor and understanding what is happening in the Magnolia, Seattle Real Estate Market. When you pick a qualified and professional Magnolia, Seattle Realtor, you can feel confident that you have an advocate that is experienced and able to professionally represent you throughout the entirety of the transaction and beyond. Additionally, a Magnolia, Seattle Realtor will be able to give you an accurate analysis of the Magnolia, Seattle Real Estate Market. Details like average and median sold prices for homes for sale in Magnolia, Seattle, month supply and days on market can provide you with valuable insight that you can use for your success. As a seller, you can get an idea of how to price according to market value which ensures you have a shortened market time AND attract a good offer. As a buyer, you gain an understanding of your position in the market and use that to craft a competitive offer, which is necessary in our current real estate climate. So how is the Magnolia, Seattle Real Estate market doing? Let’s take a look!

As far as the average and median sold prices for homes for sale in Magnolia, Seattle goes, prices are up. The average is up 13.2% from this time last year and is officially over the million-dollar mark at $1,004,578. The median sold price is up 16.1% at $871,250. To understand how much negotiation room you have, the average percentage of list price for this neighborhood is at 104.1%. Your realtor in Magnolia, Seattle will further explain how you can use this number to your benefit, but in a nutshell, this indicates your negotiation power as well as tells us that Magnolia, Seattle homes for sale are going for over asking.

As far as inventory in this neighborhood is concerned, the amount of Magnolia, Seattle homes for sale is down 4.3% while the amount of new listings is barely up 0.4%. Closed sales are down 0.2% and pending sales are down 3.3%. The decrease we are seeing in these categories is simply a result of a low month supply. This number is down from this time last year by 21.4% at 1.10. The month supply dictates what kind of market Magnolia, Seattle real estate is in. Anything 6 or over is considered balanced while anything less than 4 is a seller’s market. Your realtor in Magnolia, Seattle will be able to share what this number is as it changes with the market. Both the average and median days on market are down. The median days on market for Magnolia, Seattle homes for sale is 8 while the average is down to 17.

If you are looking for a Magnolia, Seattle Realtor or Magnolia, Seattle homes for sale, feel free to give us a call. Our team would be happy to help!