Yes, Magnolia is actually very safe and the recent car prowls have been very unusual. The community has been very concerned and I am sure now have a heightened awareness that will reduce this upswing very quickly.
Because Magnolia is on it's own little penninsula with only two bridges into the community, it is a little isolated from the rest of Seattle, and has almost no drive through traffice. This isolation and lack of drive through traffic I think helps to make the community safer than most.
Yes, it is very safe compared to other places in Seattle. I live on QA and would probably move to Magnolia if the economy were better because among other things, it is safer than QA. Don't get me wrong, QA is great. But the West side of Magnolia is definitely safer.
I used to live in Magnolia and my personal opinion is that Southwest magnolia is one of the safest places in Seattle That's where I used to live and I never locked my house or my car. Once I went overseas and left my keys sticking in the front door. When I got back a week later the mailman told me he waited for a couple days and then put the keys inside for me.
Reading the Magnolia News every week I would always notice that a car would get broken into in the Discovery Park parking lot. You'd think cops would have stationed themselves over there, but I guess they didn't because at least one break in happened almost every week there. But that's on the North side.
Just like every neighborhood, there will be good parts and not so good parts. You can tell by the houses and the cars parked in front of them. "Location location location!!!"