Is Magalia, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Magalia was a Seller's Market.
Key Takeaway
Magalia is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Magalia, CA
How much do homes in Magalia, CA cost?
Median Sold Price
$308,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Magalia have sold for 9.1% less than they did a year ago.
Summary: The median home sold price in Magalia was $308,000 in May 2024, down 9.1% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $200K | +60.0% |
| 2 Bedrooms | $270K | $250K | -7.4% |
| 3 Bedrooms | $346.6K | $320K | -7.7% |
| 4 Bedrooms | $650K | $374.5K | -42.4% |
| 5+ Bedrooms | $455K | $625K | +37.4% |
Summary: Magalia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 60%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 42.4%, and 5+ bedroom homes increased by 37.4%.
Median Sold Price Compared To Nearby Cities
| Paradise | $427.5K | $429.7K | 0.5% |
| Forest Ranch | $379K | $362K | -4.5% |
| Magalia | $339K | $308K | -9.1% |
| Feather Falls | $337K | $300K | -11.0% |
Housing Supply in Magalia, CA
How many homes are available in Magalia, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 38 | 0.0% |
Summary: The Magalia real estate market had 38 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 28 | 25 | -10.7% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Magalia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Magalia, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Magalia in May 2024, down by 37.5% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Magalia, CA
How long does it take to sell a home in Magalia, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 54 Days | -1.9% |
Summary: Homes in Magalia had an average of 54 days on market in May 2024, down by 1.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Magalia are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Magalia; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.