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!