The average sold price has increased 12.4% and is currently at $942,847, which is up from this time last year. However this is actually down from last month. Interestingly, the median sold price is up 7.5% from last year, and last month, at $806,500. The average price per square foot is up 13.9% from last year at $450. The average percentage of list price is still consistently at 103.4%, which indicates a buyer’s negotiation power. This basically means that homes are going for over asking on average. This is common when there is high demand and low inventory. While sellers will like this news, buyers may still be feeling frustrating. The littlest increase in price can impact your buying power. The good news for buyers is that new listings are up 21.1% in this neighborhood compared to this time last year. The overall Magnolia Seattle homes for sale are up 13.3%, pending sales are up 19.8% and closed sales are up 17.9%. Unfortunately, the month supply is still sitting at 1.3, which it has been at for the past few months. Magnolia Seattle real estate is still very much in a seller’s market as we need a 6 month supply in order to be considered balanced. Whether you are looking to list or buy a home for sale in Magnolia Seattle, working with a Magnolia Seattle realtor who knows what is happening in the market is crucial. This information can help guide your decisions which have a huge impact on whether or not your experience is a success. As a long time Magnolia Seattle realtor, I would be happy to give you more information.