Uncategorized October 7, 2018

Magnolia, Seattle Real Estate Update

Thinking of listing and buying Magnolia, Seattle homes for sale? 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. Finding out the sold prices, demand, days on market and more can help guide you as you decide what offer to make or accept. Your Magnolia, Seattle realtor will be able to provide you with all these details as they have access to what is going on in this neighborhood. It is important to choose a qualified and experienced realtor in Magnolia, Seattle as they act as your guide and your advocate from the beginning of the journey and beyond. 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 compared to both this time last year and last month. The average is up 13% at $1,054,590. The median sold price is up 20.4% at $940,000. To understand how much negotiation room you have, the average percentage of list price for this neighborhood is at 103.4%. This number indicates your negotiation power while also telling us that properties in this area are going, on average, for asking and maybe over in some scenarios. Your realtor in Magnolia, Seattle will further explain how you can use this number to your benefit.

The amount of Magnolia, Seattle homes for sale is up 15.2% while the amount of new listings is down 7.1%. Closed sales are down 20.4% and pending sales are down 22.7%. The current month supply is still low, but it is up 25% at 1.5. 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!