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 understanding what is happening in the Magnolia, Seattle Real Estate Market and finding a Magnolia, Seattle Realtor. When you pick a qualified Magnolia, Seattle Realtor, you can rest easy knowing that you have experience and professionalism on your side throughout the entirety of the transaction and beyond. The other perk to working with someone who understands the nuances of this market is that a Magnolia, Seattle Realtor will be able to give you an accurate analysis of the Magnolia, Seattle Real Estate Market. Certain details about the market can provide you with valuable insight that you can use for your success. 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. 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. 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 13.3% from this time last year and continues to climb over the million-dollar mark at $1,033,462. The median sold price is up 18% at $897,000. To understand how much negotiation room you have, the average percentage of list price for this neighborhood is up 0.6% 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. It also 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 up 2.2% while the amount of new listings is down 6.5%. Closed sales are down 9.7% and pending sales are down 16.8%. These decreases are a result of a low month supply. The current month supply is down 7.7% at 1.2. Your realtor in Magnolia, Seattle will be able to share what this number is as it changes with the market but it 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. The median days on market for Magnolia, Seattle homes for sale is 8 while the average is 23.

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!