If you are buying or selling homes for sale in Magnolia, Seattle, you should know it is crucial to understand the current market conditions. Whether you are a buyer or a seller, details like sold prices, days on market, and month supply can help you have a successful Magnolia, Seattle real estate transaction. As a seller, these details help you list at a market appropriate sales price AND prepare your home according to how fast properties are moving. When you price according to the local Magnolia, Seattle real estate values, you can rest assured your home will sell fast. Which is important in our local market as homes for sale in Magnolia, Seattle are pending in record time. As a buyer, you can use these stats to your benefit by coming up with a competitive offer that will stand out above the competition. The best place to get this information is from a Magnolia, Seattle realtor. An experienced, local professional is the best resource to find out what is happening when it comes to Magnolia, Seattle homes for sale. Let’s take a look at how our neighborhood is doing!
Magnolia, Seattle homes for sale have increased compared to this time last year but are down a bit from last month. The average sold price increased 11.2% to $982,969 and the median has increased 13.4% at $850,500. The average price per square foot has increased 12.3% at $466. The average percentage of list price has gone up 104.1%. This number is used to determine your negotiation power and also indicates that homes for sale in Magnolia, Seattle are going for over asking on average. Days on market are 8 for the median and 22 for the average.
As far as inventory is concerned, new listings have gone up 0.8% while the amount of Magnolia, Seattle homes for sale has increased 2.1%. Pending sales are up 7.6% and closed sales are up 6%. The month supply is still 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 give anyone looking to buy or sell in this neighborhood is to work with a qualified Magnolia, Seattle realtor who knows the neighborhood. Our goal is to 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!