Is Magalia, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Magalia is a buyer's market

Buyer's
Market

Difference Since September 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

$306,000

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$24,000(-7.3%)

Key Takeaway

Homes in Magalia have sold for 7.3% less than they did a year ago.

Summary: The median home sold price in Magalia was $306,000 in September 2024, down 7.3% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $125K$220K
+76.0%
2 $252.5K$253K
0.2%
3 $345K$320K
-7.2%
4 $380K$484.8K
+27.6%
5+ -$625K
N/A

Summary: Magalia housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 76%, 2 bedroom homes increased by 0.2%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes increased by 27.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Paradise
0.0%
Feather Falls
-3.4%
Magalia
-7.3%

Housing Supply in Magalia, CA

How many homes are available in Magalia, CA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6069+15.0%

Summary: The Magalia real estate market had 69 homes for sale in September 2024, a 15.0% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 1622
+37.5%
3 3940
+2.6%
4 45
+25.0%
5+ 12
+100.0%

Summary: The Magalia housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
39+200.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Magalia, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Magalia in September 2024, up by 200.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% 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

Sep 2023Sep 2024CHANGE
72 Days64 Days-11.4%

Summary: Homes in Magalia had an average of 64 days on market in Sep 2024, down by 11.4% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Magalia are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 9 homes were sold in Magalia; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 9 Days Ago

Newest Listings in Magalia, CA

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