Is Magnolia, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Magnolia has remained a Seller's Market.
Key Takeaway
Magnolia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Magnolia, TX
How much do homes in Magnolia, TX cost?
Median Sold Price
$385,508
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Magnolia have sold for 14.8% more than they did a year ago.
Summary: The median home sold price in Magnolia was $385,508 in March 2024, up 14.8% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $320K | N/A |
| 2 Bedrooms | $330K | $222.5K | -32.6% |
| 3 Bedrooms | $299K | $313.1K | +4.7% |
| 4 Bedrooms | $365K | $465.1K | +27.5% |
| 5+ Bedrooms | $644K | $620K | -3.7% |
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 32.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 27.5%, and 5+ bedroom homes decreased by 3.7%.
Housing Supply in Magnolia, TX
How many homes are available in Magnolia, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 421 | 486 | +15.4% |
Summary: The Magnolia real estate market had 486 homes for sale in March 2024, a 15.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 9 | +50.0% |
| 3 Bedrooms | 169 | 191 | +13.0% |
| 4 Bedrooms | 199 | 233 | +17.1% |
| 5+ Bedrooms | 45 | 52 | +15.6% |
Summary: The Magnolia housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 15.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 66 | 84 | +27.3% |
Asking Price vs. Sold Price
53 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Magnolia, you may be able to get a good deal. 63.1% of homes here sold below asking price last month.
Summary: A total of 84 homes were sold or pending in Magnolia in March 2024, up by 27.3% month-over-month. Of the 84 sold homes, 63% were sold under asking, 29% were sold at asking, and 8% were sold over asking.
Days on Market for Magnolia, TX
How long does it take to sell a home in Magnolia, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 71 Days | +14.6% |
Summary: Homes in Magnolia had an average of 71 days on market in Mar 2024, up by 14.6% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Magnolia are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 84 homes were sold in Magnolia; 42% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.