If you are looking to list or buy Magnolia Seattle Real Estate, being aware of the current market conditions is key to a successful experience. As a seller, you have a good idea of what is appropriate to price at, how many days a home is sitting on the market as well as what kind of market you are in. As a buyer, you get an idea of the average and median sold prices (aka a ball park number of what you can expect to spend) as well as the percentage of list price (this indicates your negotiation power). Of course, whether you are buying or selling Magnolia Seattle Real Estate, choosing a qualified Magnolia Seattle Realtor is key. They can not only help you navigate the current market, but also be your guide during the escrow process. So, how is this neighborhood doing this month? Let’s take a look.
The average sold price has gone up 16.7% and is currently at $931,426 and the median sold price is up 9.9% at $781,000. This is good news for sellers as it means the value on their home for sale in Magnolia, Seattle real estate is up. Also up are a majority of the other categories we follow: New listings, homes for sale, pending sales and closed sales. New listings are up 17.4% while homes for sale are up 11.4%. Pending sales are up 23.1% and closed sales are up 16.9%. Month supply has also gone up from last month and last year at 8.3%. Currently we are sitting at a 1.3 supply. 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. The average percentage of list price is 103.3%, which indicates a buyer’s negotiation power. This basically means that homes are going for not only the full amount of the asking price, but over. 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.