Is Magnolia, WA 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.
Housing Prices in Magnolia, WA
How much do homes in Magnolia, WA cost?
Median Sold Price
$1,100,000
$587/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Magnolia was $1,100,000 in March 2024, down 4.3% from last year, and the median price per square foot was $587.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $372.5K | $377.5K | +1.3% |
2 Bedrooms | $793.9K | $780K | -1.8% |
3 Bedrooms | $1.1M | $1.1M | -4.3% |
4 Bedrooms | $1.7M | $1.5M | -9.7% |
5+ Bedrooms | $2.0M | $2.0M | -1.9% |
Summary: Magnolia housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Neighborhoods
Southeast Magnolia | $1.2M | $1.2M | -1.4% |
Magnolia | $1.1M | $1.1M | -4.3% |
Pleasant Valley | $1.1M | $957.5K | -18.5% |
Housing Supply in Magnolia, WA
How many homes are available in Magnolia, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
78 | 91 | +16.7% |
Summary: The Magnolia real estate market had 91 homes for sale in March 2024, a 16.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 12 | 14 | +16.7% |
3 Bedrooms | 30 | 34 | +13.3% |
4 Bedrooms | 19 | 21 | +10.5% |
5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The Magnolia housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
29 | 24 | -17.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Magnolia in March 2024, down by 17.2% month-over-month. Of the 24 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.
Days on Market for Magnolia, WA
How long does it take to sell a home in Magnolia, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
56 Days | 25 Days | -54.9% |
Summary: Homes in Magnolia had an average of 25 days on market in Mar 2024, down by 54.9% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 24 homes were sold in Magnolia; 79% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.