Listing and buying Magnolia, Seattle homes for sale is an exciting journey. As one of the most sought after neighborhoods in the city, it is important to be informed on what is happening in this particular area. Just as you would any major purchase or sale, finding out the demand, the comparable solds, the market value and more can help guide you as you decide what offer to make or what offer to accept. Your Magnolia, Seattle realtor will be able to provide you with all these details as they have access to real time stats and market information. So how is this neighborhood looking this month? Let’s take a look at the numbers.
As far as the average and median sold prices for homes for sale in Magnolia, Seattle goes, prices are up. The average is up 11.8% at $1,040,419. The median sold price is up 17.4% at $910,000. To understand how much negotiation room you have, the average percentage of list price for this neighborhood is up 0.5% compared to last year at 103.8%. Your realtor in Magnolia, Seattle will further explain how you can use this number to your benefit, but this indicates your negotiation power.
In regards to inventory, the amount of Magnolia, Seattle homes for sale is up 11.1% while the amount of new listings is down 6.7%. Closed sales are down 17% and pending sales are down 21.5%. These decreases are a result of a low month supply. The current month supply is up 8.3% at 1.3. Anything 6 or over is considered balanced while anything less than 4 is a seller’s market. The median days on market for Magnolia, Seattle homes for sale is 8 while the average is 21.
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!