Is Magnolia, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Magnolia was a Seller's Market.
Housing Prices in Magnolia, DE
How much do homes in Magnolia, DE cost?
Median Sold Price
$399,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Magnolia was $399,000 in March 2024, down 0.2% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $395K | $352.4K | -10.8% |
3 Bedrooms | $336.5K | $335K | -0.4% |
4 Bedrooms | $419.9K | $434.5K | +3.5% |
5+ Bedrooms | $445K | $425K | -4.5% |
Summary: Magnolia housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.8%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 4.5%.
Median Sold Price Compared To Nearby Cities
Central Kent | $389.9K | $390.6K | 0.2% |
Magnolia | $399.9K | $399K | -0.2% |
Housing Supply in Magnolia, DE
How many homes are available in Magnolia, DE?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
72 | 77 | +6.9% |
Summary: The Magnolia real estate market had 77 homes for sale in March 2024, a 6.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 38 | 37 | -2.6% |
4 Bedrooms | 28 | 31 | +10.7% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Magnolia housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 11 | +22.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Magnolia in March 2024, up by 22.2% month-over-month. Of the 11 sold homes, 27% were sold under asking, 55% were sold at asking, and 18% were sold over asking.
Days on Market for Magnolia, DE
How long does it take to sell a home in Magnolia, DE?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 41 Days | +34.8% |
Summary: Homes in Magnolia had an average of 41 days on market in Mar 2024, up by 34.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in Magnolia; 45% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.