Magnolia Real Estate Market Report – May 2017

 

Not sure what is heating up faster, the weather or the Magnolia real estate market. All across Seattle we are seeing rising prices and more home sales. Last month there were 44 single-family homes sold in the area, 8 more than April (2017) and 10 more than May 2016. The average list price has gone up from $956,631 (May 2016) to $1,055,468 (May 2017). The highest sold price was $3,350,000, which is $1,450,000 more than May of 2016.

Condominium sales are also showing growth in the Magnolia neighborhood. There were 6 more condo sales this past May than May of 2016. The median price for a home has gone up over $100,000 more than last year, but the lowest sold price dropped from $239,000 (May 2016) to $220,000 (May 2017).

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

school-view

The Seattle real estate market continues to be quite dynamic, including Magnolia, which has been seeing a ton of activity. According to the Northwest Multiple Listing Service, the month of May brought about 31 single family home transactions, at a median sales price of $738,000. Buyers seem to be eager to find a home in Magnolia, as the 31 homes that were for sale last month averaged out to being on the market for only 10 days. That’s good news if you’re looking to sell!

Magnolia also saw sales of four condominiums in May. The median sales price of the condos went for $538,000 and averaged being on the market for just 13 days.

Statistics continue to support that the Seattle –and Magnolia –real estate market has stayed hot, and you can bet that will continue to be the case as we get closer to the summer, which is always the busiest time of year for real estate transactions. For more information on Seattle real estate, contact your local real estate agent today.

 

Magnolia Mom’s Host “Shop Til You Drop” Tonight

It may only be a week past Halloween, but it’s never too early to start planning for the Holidays, (especially if you’re looking to catch those pre-season sales!). The Magnolia Mom’s from Our Lady of Fatima are hosting a shopping event this evening at Fatima Parish Hall to raise funds to provide winter coats for Seattle area children in need.

Get a head start on your holiday shopping with 25 local vendors selling clothing, fun handmade jewelry, chocolates and treats, accessories, iPhone covers, and more! Lots of good holiday gift ideas, and there will also be a Fashion Show by Vixen Spa, massages and brow waxing, and raffle items to giveaway! The event is from 6:00-9:00PM, bring your shopping bags, and shop til you drop.

Price Drop on Magnolia Townhome: $382,000

It is difficult to find this low of a price point in this neighborhood of Seattle!  This three-level townhouse is available in the beautiful neighborhood of Magnolia.  This area is known for its family-friendly environments and beautiful views of Puget Sound.  Only minutes from downtown, this three bedroom townhome is in a prime location.

One of its unique features is how every bedroom contains its own bathroom and there is also an extra powder room on the main floor.  Also, the kitchen is completely updated with stainless steel appliances, granite countertops and cherry cabinetry.

The backyard is completely fenced off and offers a cozy patio.  It is a perfect area to start a garden as it receives great sun exposure.  There is an abundance of street-parking around the unit, not to mention the one-car garage that is attached.

Don’t miss out on this opportunity.  If you are interested in viewing this unit or getting more information, please visit www.ewingandclark.com.

Mixed Reviews on New Inspection Regulations

The city of Seattle has recently approved a program that would require an inspection on all rental property.  Landlords would be required to register their properties with the city, which allows them to keep track of all rental properties in the county.  The program would begin in 2014 and has received mixed reviews from the community.

One aspect that has received some buzz is that of the landlords having to pay for this mandatory inspection.  There is a large discrepancy between landlords who are more hands-on and take better care of their properties compared to those who don’t.  Those that take pride in their properties feel they are getting punished even though they are doing everything possible to make their rental livable and safe.

Another issue at hand is that of the inspection fees.  Tenants are worried that the landlord is going to pass off the inspections costs onto them.  This has come as some concern as Seattle’s rental prices are already high.  With so many losing their homes to foreclosures and short sales, this inspection fee may be yet another cost for those looking to rent in the Seattle area.

Regardless of the complaints, the inspection program has been passed by the city and will take effect in 2014.  Landlords need to take the necessary precautions to make sure their property is up to code.  Whether that is being more involved or spending on improvements, landlords should be aware of hefty fines if they do not pass the inspection.    With the rental market at an all-time high here in Seattle, there may be more regulations coming soon.

2012 Farmer’s Markets Summer Season Updates

If you weren’t out enjoying this lovely turn of the weather this weekend you were one of few; as the sun starts to come out, so do the summer crops and the local farmers markets will open in a few weeks with a ton of fresh new produce. The 2012 farmer’s market season took off running this year, with some markets already up and others soon to follow in the next few weeks. The surrounding Seattle areas will have a few new faces like the Shoreline Farmer’s Market that will open June 16th and will close down others like the

Photo Courtesy of Zachary D. Lyons, copyright from the 2011 Wallingford Farmer's Market

Georgetown market, who didn’t see enough foot traffic the last few years, but hopes to return in the fall with more people coming in and out of the neighborhood. Keep in mind the U District and West Seattle Markets run year round; here is a list of openings to look out for when you’re in the neighborhood:

Burien: 11am-6pm Thursdays

Columbia City: 3-7pm Wednesdays ( and will open early to chefs only to check out the loot before the crowds, from 2-3pm)

Lake City: 3-7pm Thursdays, beginning June 14.

Phinney: 3-7pm Fridays, starting June 3rd.

Madrona: 3-7pm Fridays beginning May 18th.

Magnolia: 10am-2pm, Saturdays starting June 9th.

Queen Anne: 3-7:30pm Thursdays, beginning June 7th.

Wallingford: 3:30-7pm Wednesdays beginning May 30th, (opening early for chefs only from 3-3:30)

 

Magnolia Residents Take Action Against Commuter Daily Parking

A group of Magnolia residents are taking action against people parking on their street who don’t live there and use their street as a park-and-ride when taking the bus or using other transportation from Magnolia Village. These folks are taking action by putting notes on cars who park on the street daily, asking them not to park on their street for the following reasons, according to the Magnolia Voice: 

“It is public in the sense that residents use it to enter and exit their homes at all times and in the sense that it accommodates parking for residents’ guests, deliveries and trash pickup along with thru traffic. It is a narrow street and a busy one. Using it as a place to park while commuting to another location impedes all of the essential public uses named above and is causing problems for those who need to enter and exit their driveways, park on or pass along this block.”

The group listed off other parking areas that would be less disruptive for the neighborhood and one of the parking violators actually turned out to be a neighbor 6 blocks away! Whether you agree with either party, the street is currently Seattle Public property, so residents and commuters might have to take their disputes to a higher party if the problem escalates. For more information, visit the Magnolia Voice.

Mother’s Day is Right Around the Corner: Best Gift Ideas!

Do you find yourself stumped every year, scrambling around to try and find the perfect gift for your Mother, who seems to already have everything you can imagine? Do you wind up getting something safe and uninspiring year after year, resorting to a 99 cent card and hand written poem you have stored on your computer’s hard drive?  I can safely assume we’ve all been guilty at one point in time of last minute shopping when we’re down to the wire and wind up with an impulse buy, maybe something that you yourself would enjoy a little more than Mom. This year it might be time to plan a week or two ahead, and get your Mother something unexpected. Here is a list of things you might find inspiring to get for her this Mother’s Day weekend:

1. Is she a fabulous cook? Whether she needs it or not, a cooking class from Seattle Hipcooks in South Lake Union might be the perfect treat.

2. Does your mom love jewelry and recycling? why not get her a recycled sterling silver necklace from Uncommon Goods.

3. Is she a tech whiz? If your mom has had her new Ipad 3 longer than you have, get her a new Mother’s Day inspired Ipad case!

4. Is she hopelessly in Love with Seattle? Get her something personally homemade from Etsy!

5. Is she remodeling? The new West Elm in Seattle is full of inspiring decor she’ll love, or grab her a giftcard.

6. Every Mom appreciates a good musical; take her to the theatre! The 5th Avenue’s summer schedule is out now.

7. Does she have a green thumb? Whether she does or not lend her a hand! Help her garden grow by getting her the best fragrant plants in her garden.

8. Still stumped…check her pinterest account and see what she’s pinning these days, or if she has a wishlist board waiting for you!

9. Or if you’re on a budget, here is a list of free Mother’s Day activities from CBS that you can take her to and enjoy a day just the two of you.

56 Year Old Woman Helps Rescue Family in Greenlake

On Thursday morning a 56 year old mother reportedly saved her family during a house fire in the Greenlake neighborhood. Firefighters were called to the tangletown home around 3:30am, responding to a call for smoke sightings. The Seattle fire department spoke with the woman, who said she awoke in the middle of the night to the sound of her smoke detector going off, and ran upstairs to wake her 21 year old son and three small grandchildren, the oldest one only 5 years old. The woman was reportedly taken to Harborview Medical Center for treatment of smoke inhalation and the fire was reportedly caused by an overheated extension cord on the second floor of their home. Damage to the home was ruled as accidental, and estimated to cost $75,000 in damages.