Jackie, Home Buyer in Georgia

What is the state of the single family home real estate market in the Magnolia area of Seattle?

Asked by Jackie, Georgia Mon Oct 29, 2007

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Since September 1...the Magnolia area has seen 34 single family home sales...ranging from $445,000 to a couple homes over 1 million dollars. The average days on market is 47 days. Average sales price is $752,876 with the average list price as $776,945.

The crazy statistic is that there are currently 132 single family homes on the market ranging from $319,950 to several homes over 1 million dollars.

For comparison...last year during the same period...there were 55 single family home sales ranging from $327,000 to a few homes again selling for over a million. The average sales price was $668,362 with the average listing price being $674,029. Average days on market was 42 during that period.

The statistics for this neighborhood are pretty typical to the regional statistics. Good and bad news with these...it's really a good time to buy as it is still a overall a very good market...and you have lots to choose from with negotiating room. People needing or wanting to sell right now are the ones who should have more concerns about these statistics. As a home-buyer...it really is a great time to be looking!

I hope that helps at least focus your energies on the market and what you are looking at. Make sure to discuss your needs and wants with your realtor so that you buy the home that suits your needs yet also becomes a good long term investment. Happy house hunting!
Web Reference: http://www.agentsamuel.com
1 vote Thank Flag Link Mon Oct 29, 2007
I have lived in Magnolia for the last 25 years and the current state is that we have a lot of inventory and have seen sales slow down quite a bit in the last 12 months. Houses are still selling but they have to be priced right and priced according to the condition. There still are homes that sell in the first 14 days but to do that they need to be the most compelling in the price range. As you can see in your 98199 zip code search there are houses from 369K ( small fixer upper) to 2 million plus. What range were you the most interested in?
0 votes Thank Flag Link Fri May 30, 2008
Sorry, I should have cited my source on that. I used the Northwest Multiple Listing Service which make it easy for me to run some searches off of. Really, the only statistic I am missing through it is For Sale By Owners which is a very small statistic which often ends up on the MLS in the long run anyways. This is the listing service that realtors have access to that really shows basically everything that is for sale in the area real time.

The search I ran was specifically on the Magnolia community. While Trulia is a great resource with many great forums and a wealth of information...obviously not near all the listings show up on it. Realtors have to input the listings on their own and update it as well. It is a nice place to begin a search from though. Obviously I am a fan as I use it myself in my business.

If you want more statistics or have more questions about things available feel free to drop me an email or just ask...it's pretty simple for me to pull statistics like that off.

Hope that answers your question! Let me know if I can be more help.
Web Reference: http://www.agentsamuel.com
0 votes Thank Flag Link Tue Oct 30, 2007
How did you search for the homes on the market? When I search in Trulia and I put in the zip code 98199 I only get 33 Single Family Homes. What am I doing wrong? Thanks!
0 votes Thank Flag Link Tue Oct 30, 2007
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