Magnolia, Seattle Real Estate Update

Listing or buying homes for sale in Magnolia, Seattle? Being aware of the current market conditions can be very helpful as you work towards achieving your desired real estate goals. Whether you are buying or selling, statistics like days on market, average and median sold price and percentage of list price can help you have a successful Magnolia, Seattle real estate experience. As a seller, you can use this info as a way to come up with a market appropriate list price based on comparable solds. This assures your home will sell quickly and likely with multiple offers. As a buyer, you can use this information to come up with a competitive offer that seller’s will want to choose out of the stack. This is important, especially since homes for sale in Magnolia, Seattle are pending in record time. The best way to get this information is from a Magnolia, Seattle realtor. Let’s take a look at how our neighborhood is doing!

  • Magnolia, Seattle homes for sale are up compared to this time last year. Currently, the average sold price is at $982,969.
  • The median is up 13.4% at $850,500.
  • The average price per square foot is up 12.3% at $466.
  • The average percentage of list price has increased up to 104.1%.
  • Days on market are 8 for the median and 22 for the average. If you are selling, this information prepares you by letting you know you’ll have to move fast. As a buyer, be prepared to make an offer just as quick!
  • New listings have increased by 0.8%.
  • Magnolia, Seattle homes for sale have gone up 2.1%.
  • Pending sales are up 7.6% and closed sales are up 6%.
  • The month supply is still very low at 1.2, which is the number we have been sitting at for the past few months. Us Magnolia, Seattle realtors look for a 6 month supply in order to consider the market balanced. Anything less than 4 is considered a seller’s market, which we are clearly in.

 

The best piece of advice I can offer anyone looking to buy or sell in this neighborhood is to work with a qualified Magnolia, Seattle realtor who knows the neighborhood. We help you navigate the entire process from start to finish and beyond. If you are interested in more information, feel free to give me a call. I would be happy to help!

Posted on May 12, 2018 at 10:53 pm
Scott Shutes | Category: Uncategorized

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