Uncategorized December 15, 2018

Magnolia, Seattle Real Estate Market Report

If you are thinking about selling your home or are looking to buy in Magnolia, the best way to navigate  one of the most desirable neighborhoods in the city is by knowing the current market conditions. Details like the sold price, month supply and days on market can clue you in. Your Magnolia, Seattle realtor will be able to provide you with all these details making it important to choose a qualified and experienced realtor in Magnolia, Seattle. We work on your behalf to not only guide you through the transaction but act as 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 16.3% at $1,095,401. The median sold price is up 20.8% at $966,250. To understand how much negotiation room you have, the average percentage of list price for this neighborhood is at 102.6%. 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 26.1% while the amount of new listings is down 7%. Closed sales are down 22.7% and pending sales are down 19.1%. The current month supply is still low, but it is up 41.7% at 1.7. 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 10 while the average is 22.

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!