Magnolia, Seattle Real Estate Update

If you are thinking of buying or listing homes for sale in Magnolia, Seattle, the first step is finding a Magnolia, Seattle Realtor. The second is understanding what is happening in the Magnolia, Seattle Real Estate Market. A Magnolia, Seattle Realtor can help you understand what is happening in the Magnolia, Seattle Real Estate Market. You can use details like average and median sold prices, month supply and days on market to strategize. As a seller, you know how to price appropriately for the current market. As a buyer, you understand your position in the market and can use that to your advantage by learning what makes a competitive offer. 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% at $1,054,590. The median sold price is up 20.4% at $940,000. To understand how much negotiation room you have, the average percentage of list price for this neighborhood is at 103.4%. Your realtor in Magnolia, Seattle will further explain how you can use this number to your benefit, but this indicates your negotiation power.

When it comes to inventory, buyers get some good news as the amount of Magnolia, Seattle homes for sale is up 15.2%. New listings are down 7.1%. Closed sales are down 20.4% and pending sales are down 22.7%. These decreases are a result of a low month supply. The current month supply is, thankfully, up 25% at 1.5. It isn’t a lot, and we are still definitely in a seller’s market, but the littlest bit helps buyers. To understand this number, 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 8 while the average is 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! For more market reports, visit the team site www.teamshutes.com

Posted on October 14, 2018 at 2:20 am
Scott Shutes | Category: Uncategorized

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