Uncategorized November 6, 2018

Magnolia, Seattle Real Estate Update

If you are thinking about listing or buying Magnolia, Seattle homes for sale, the best way to navigate  one of the most sought after neighborhoods in the city is by knowing what is happening in the local market. Finding out the sold prices and days on market can help guide you as you figure out how much your budget is or what to list at. 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 we act as your guide and your advocate throughout the process 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 just last month. The average is up 13.5% at $1,074,204. The median sold price is up 19.9% at $950,000. To understand how much negotiation room you have, the average percentage of list price for this neighborhood is at 103%. This number is down from last month as well as this time last year. Your realtor in Magnolia, Seattle will further explain how you can use this number to your benefit but in a nutshell, it helps with negotiations.

The amount of Magnolia, Seattle homes for sale is up 21.7% while the amount of new listings is down 7.6%. Closed sales are down 22.7% and pending sales are down 22.5%. The current month supply is still low, but it is up 33.3% at 1.6. This is up from last year and last month. 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 9 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!