Magnolia, Seattle Real Estate Update

If you are looking for homes for sale in Magnolia, Seattle, you have come to the right spot. I have been servicing this neighborhood, along with my team, since 1989. One of the best ways to navigate a desirable neighborhood like Magnolia, Seattle real estate, is by linking up with a qualified and experienced Magnolia, Seattle realtor. Choosing someone who not only knows the current market from actual experience but can also represent you professionally has several benefits to both buyers and sellers. You also will be provided with an accurate analysis of the current Magnolia, Seattle real estate market with details including days on market, average and median sold prices, month supply and more. Sellers can be confident their homes for sale in Magnolia, Seattle will have the best marketing, reaching as many buyers as possible. Not to mention, their chances of attracting multiple offers in a short amount of time is high. Buyers can feel confident that they have someone who can help them craft a competitive offer on Magnolia, Seattle homes for sale that sellers will find attractive.  So how is the Magnolia, Seattle Real Estate market doing? Let’s take a look!

As far as the average and median sold prices for homes for sale in Magnolia, Seattle goes, prices are up. The average is up 13.3% from this time last year and continues to surpass the million-dollar mark at $1,033,462. The median sold price is up 18% at $897,000. To understand how much negotiation room you have, the average percentage of list price for this neighborhood is at 103.8%. Your realtor in Magnolia, Seattle will further explain how you can use this number to your benefit, but in a nutshell, this indicates your negotiation power as well as tells us that Magnolia, Seattle homes for sale are going for over asking.

As far as inventory in this neighborhood is concerned, the amount of Magnolia, Seattle homes for sale is down 2.2% while the amount of new listings is down 6.5%. Closed sales are down 9.7% and pending sales are down 16.8%. The decrease we are seeing in these categories is simply a result of a low month supply. This number is down from this time last year by 7.7% at 1.2. The month supply dictates what kind of market Magnolia, Seattle real estate is in. Anything 6 or over is considered balanced while anything less than 4 is a seller’s market. Your realtor in Magnolia, Seattle will be able to share what this number is as it changes with the market. Both the average and median days on market are down. The median days on market for Magnolia, Seattle homes for sale is 8 while the average is down to 23.

If you are looking for a Magnolia, Seattle Realtor or Magnolia, Seattle homes for sale, feel free to give me a call. I would be happy to help!

Posted on August 15, 2018 at 7:41 pm
Scott Shutes | Category: Uncategorized

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