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.