Magnolia Summerfest

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Summerfest is here! 

Saturday, August 6th @ 10:30 am -Parade

Sunday, August 7th @ 2 pm- Youth Talent Show

Sunday, August 7th @ 5pm- Pet Parade

Food trucks, Urban Craft Uprising Vendors, bounce houses, live music, and beer garden!

Washington State Home Sales Soar Past Previous Highs

sold-sign2015 may have been an interesting year for many reasons, but in the world of Washington real estate, it sure felt like the good old days.

Not since the way-back-when of 2007 had so many homes and condominiums sold in the Evergreen State. According to the Northwest Multiple Listing Service, 2015 saw a whopping 88,331 homes changed hands last year, about 14% more sales than in the previous year. Those who have done the math say that works out to about 75,975 single family homes and 12,356 condominiums, valued at approximately $34 billion, about 23% more than the dollar volume sold the year before. Those impressive figures make 2015 one of the best years for Washington State real estate in recent memory.

The last time this state saw real estate figures like that was in 2007, before the bubble burst and sent the country into what is not-so-affectionately known as The Great Recession. Even in 2007, the figures only added up to about 82,197 sales valued at $32.3 billion, according to the Northwest Multiple Listing Service.

Furthermore, despite a ‘lower inventory’, so to speak, prices and number of sales continue to grow. In King County, the median home price was $480,000 and more than 26,600 homes sold. Compare that to a median price of $440,000 and 26,600 homes sold, in 2014 and you’ll notice a jump of close to 10%. Snohomish and Pierce counties can top those figures with growth figures for both median home price and number of homes sold over last year at nearly 16.80% ($355,000, up from $326,360 with 11,303 homes sold) and 17.39% ($249,950, up from 230,000 with more than 13,200 homes sold) respectively.

Overall, region-wide, the growth was about 8.8% from 2014, with a median price for single family homes and condominiums at about $310,000, up from $285,000 last year.

Numbers like this are a positive and encouraging sign for the state of the real estate market and the country’s economy as a whole. Let’s just hope nothing comes along and tries to ‘burst our bubble’ this time.

Reminder About The Magnolia Farmers Market

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Just a friendly reminder that the Magnolia Farmers Market takes place every Saturday through October 17th. The Farmers Market is open from 10 AM – 2 PM on those Saturdays, and it is located between 33rd Avenue W and W McGraw Street in the Magnolia Village.

Be sure to go and check out the Magnolia Farmers Market on the remaining Saturdays through October 17th, and check out all of the local produce and items that they have to offer.

See you there!

Magnolia Real Estate Report for June

August Real Estate

Needless to say, the month of June was an absolute scorcher in Seattle, and so too was the real estate market in Seattle’s Magnolia neighborhood. As we know, the summer months typically signal the busiest time of year for real estate transactions, and we saw this to be true when we look at last month’s statistics. Let’s take a look at some of the real estate highlights for the month of June in Magnolia:

According to the Northwest Multiple Listing Service, June brought about the sale of 47 single-family homes. The median sales price of those 47 homes was approximately $831,134. The homes that sold in the month of June averaged being on the open market for just 26 days, and the total dollar amount of those transactions totaled roughly $39,063,319. That’s pretty incredible for a month’s work!

There were also 11 condominiums sold in Magnolia in June at a median sales price of $354,454 and averaged being on the market for only 13 days.

As you can see by the statistics provided above, the real estate Market in Magnolia continues to be extremely dynamic, and that’s not anticipated to change as summer continues to roll on in the Pacific Northwest. For more information on  Magnolia (and Seattle) real estate, or if you are curious about what your house might be worth in this strong market, please contact your local real estate broker for a free market analysis and conversation about your home.

Magnolia Real Estate Report for May

August Real Estate

The month of May has come and gone, and although the weather makes it seem like we’re right in the middle of summer, the official start is just a few weeks away. The beginning of summer typically signals the busiest time of year for the real estate market, but the last several months have been quite active as well. Let’s take a look at some of the real estate highlights for the month of May in Magnolia:

According to the Northwest Multiple Listing Service, May brought about the sale of 38 single-family homes. The median sales price of those 38 homes was approximately $895,108. The homes that sold in the month of May averaged being on the open market for just 26 days, and the total dollar amount of those transactions totaled roughly $34,014,104. Not a bad month’s work!

There were also 8 condominiums sold in Magnolia in May at a median sales price of $337,056 and averaged being on the market for only 18 days!

As you can see by the statistics provided above, the real estate Market in Magnolia continues to be extremely dynamic, and we don’t anticipate that to change as we get deeper into the summer months. For more information on  Magnolia (and Seattle) real estate, or if you are curious about what your house might be worth in this strong market, please contact your local real estate broker for a free market analysis and conversation about your home.

Magnolia Chamber of Commerce Spring Fest 2015!

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Join the Magnolia Chamber of Commerce for Spring Fest in the Village on Friday, April 24th from 6:00 PM – 9:00 PM!

This event will keep the entire family entertained, with music by the Superchargers (sponsored by Serendipity), a bouncy house (sponsored by Ewing & Clark, Inc), a beer garden (featuring Hale’s Ales), and art pieces in various participating businesses.

Bring the family out and have a great time in the Magnolia Village next Friday, the 24th!

*The Magnolia Village is located at W McGraw Street, Seattle, WA 98199

 

Magnolia Real Estate Report for 2015 (Thus Far)

August Real Estate

It is not a secret that the year 2014 was a huge success for the real estate market in Seattle, and particularly in the Magnolia neighborhood. Homes were purchased, sold, and tons of transactions were agreed upon last year. Now that we are a couple of months into 2015, let’s get an update on what the Magnolia real estate market is looking like thus far.

According to the Northwest Multiple Listing Service from January 1, 2015 – March 19, 2015, there has been 59 homes sold in Magnolia. The median sales price of those 59 homes was $685,525. The homes that sold so far this year averaged being on the open market for a total of 58 days before they were purchased. Of the 59 houses sold, 48 have been residential homes and 11 have been condominiums. The total volume of those 59 transactions totals $40,446,032. 2015 is certainly not off to a bad start!

As you can see by the statistics provided above, the year 2015 is off to a good start for real estate transactions in Magnolia. With spring and warmer weather right around the corner, expect the market to continue to heat up even more! For more information on  Magnolia (and Seattle) real estate, or if you are curious about what your house might be worth in this strong market, please contact your local real estate broker for a free market analysis and conversation about your home.

Commercial Condo Available in Magnolia!

Commercial Condo for Sale

A 2,036 square foot Magnolia condo in the Chez Nous building located at 2100 Thorndyke Avenue West is available for purchase.

This particular unit allows for both commercial and residential uses, however the unit has only been occupied by commercial tenants thus far.

Shower, closets, appliances, and kitchen would need to be installed if unit were to be used as a residential space.

The Seattle condo features large, westerly facing windows which look out onto Puget Sound and downtown. The space also features a convenient, open layout with a kitchenette and high ceilings.

The asking price for this Magnolia space is $475,000.

Tours are by appointment only, and can be scheduled with Ewing & Clark broker Brian Mayer. Brian can be reached at (206) 441-7900.

 

Magnolia Winterfest 2014

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The 2014 Magnolia Winterfest is set to take place on Saturday, December 6th from 4:00 PM – 8:00 PM.

Organized by the Magnolia Chamber of Commerce, this years Winterfest will definitely have something for everyone! There will be festive treats, carolers, live reindeer, Santa Claus, tree-lighting, kids attractions, food & drink, and shopping in the Village!

Join the Magnolia Chamber of Commerce for Winterfest 2014 and help celebrate the winter season by spending a great and festive night in the Village!

 

 

Magnolia Real Estate Report for the Month of October

August Real Estate

The month of October came and went, and now it is hard to believe that the Holiday Season is almost upon us!  Fall and winter are generally a little slower than spring and summer as far as real estate activity goes, however that hasn’t been the case so far. Let’s take a look at Magnolia’s October real estate report:

According to the Northwest Multiple Listing Service, October brought about the sale of 37 single-family homes, compared to 29 sales in September. The median sales price of those 37 homes was $704,000. There were 41 active homes that remained available for purchase when October came to an end. The homes that did sell last month averaged being on the market for 73 days, compared to only 21 days in September. The total volume of those 37 transactions was $31,761,369. Not too shabby!

There were also 6 condominiums that were sold in October for an average price of $218,966.

It may be getting colder and darker this time of year, but statistics continue to support that people are still buying and selling a lot of real estate in Magnolia! For more information on  Magnolia (and Seattle) real estate, or if you are curious about what your house might be worth in this strong market, please contact your local real estate broker for a free market analysis and conversation about your home.