Magnolia Real Estate Report – November 2017

The Seattle real estate market remains talk of the nation! Not much as changed this year except for the climbing prices in neighborhoods all around King County. Magnolia continues to grow with the market with increased prices. Though there was only 1 more sale this past November than November 2016, the facts are in the numbers.

Currently Pending in Magnolia

The median sales price for a single-family home in Magnolia was $965,000 last month, compared to $799,950 in November 2016. The sold price jumped from $1,026,732 to $1,055,731. The highest price for a home decreased from $2,400,000 to $1,825,000. Ewing and Clark currently has a listing pending for $2,295,000. The lowest cost for a home also decreased from $630,000 to $475,000. There were no sold homes on Magnolia Bluff last month.

Currently Pending in Magnolia

Condominiums are also showing strength in Magnolia. There were 8 sales last month, same as November 2016. The median sales price increased from $350,000 to $443,750. The highest sale was recorded at $800,000, $275,000 more than last year. The lowest sales price showed a small drop from $274,000 to $263,000.

There are currently  22 active listings and 23 pending.

 

 

 

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.

Madrona Real Estate – 2016 in Review

Magnolia real estate continued to grow throughout 2016, following a strong year in 2015. There was only 28 less homes sold last year (332) compared to 2015 (360), but average home cost rose. The highest sales price jumped from $2,795, 000 (2015) to $3,750,000 (2016), while the median sales price climbed from $736,500 (2015) to $790,000 (2016). The average listing price went from $835,544 in 2015 to $929,114 this past year. There are currently 28 pending residential listings and 16 active.

Magnolia condos also didn’t vary much in quantity sold, but showed increase in sales price. The highest sales price was $800,000 in 2015 and jumped to $950,000 in 2016. The median sales price increased by $46,750, starting at $276,500 in 2015 climbing to $323,250 in 2016. There are currently 8 pending condos and 4 active.

The overall real estate market in the region (area covered by Northwest Multiple Listing Service which serves 23 Washington State counties) saw an 8.1 increase of sales in 2016 when compared to 2015 with inventory at a record low for most of the year.  For the 23 counties, the median sales price increased 8.9 percent from $310,000 in 2015 to $337,500 in 2016.  Condos, which make up a smaller share of the market, were actually up 12.6% while single-family homes increased 8.7%.

Inventory was tight throughout the year, there was an average of 1.86 months of inventory in 2016, compared to 2.4 months in 2015.  King County was the tightest with only 1.1 months of supply.  A balanced market is generally considered to be between 4 and 6 months of inventory.

The luxury real estate market was strong in 2016, with over 3,251 home sales over $ 1million compared to 2,676 in 2015: over a 21 percent increase.  The number of condos over $500,000 also increased with 1,711 sold in 2016 versus 1,459 half-million dollar sales in 2015: also over a 21 percent increase.

2017 seems to be taking over where 2016 left off.  Low inventory remains and prices remain strong.  As always, to maneuver the market, reach out to your local real estate broker to navigating the Seattle real estate market.

 

First Photo – Sold by Ewing and Clark in 2015

Second Photo – Available for Purchase

Pigs Running Loose in Magnolia

pig

Magnolia residents have been hearing grunting and squealing noises as well as stampeding. What do they find when they look out their door? Pigs. Several pigs are roaming wild around the Magnolia neighborhood. They were most likely once somebody’s pets and were released. Judy Woods of Pigs Peace Sanctuary in Stanwood is expecting she will receive a call. The pig sanctuary is already full with 190 pigs and has a waiting list. It spends $200,000 a year caring for unwanted pigs.pig

Hostile Solicitor in Magnolia Near Discovery Park

Around 7:30pm in the evening of July 25th, a woman who lives on W Emerson Street near Discovery Park called police to report a hostile and suspicious solicitor that had come to her door. After hearing a friendly knock at her door, she peeked out the speak easy where she saw a well groomed, 6′ tall African American man. She opened the speakeasy and told him that she did not accept solicitors at her home. The man became agitated and upset that she did not give him a chance to tell her who he was and the reason for his visit. She then asked him the reason. He became angry and told her that he’ll just get what he came for and proceeded to curse racial slurs at her while taking photographs of the side of her house. The woman’s sister followed the man as he left and headed into Discovery park, cursing racial slurs at her as well.salesman

The Seattle Police Department wants to remind people to be cautious of solicitors. Licensed door-to-door sellers must always display their registered license on their shirt. The license will display the sellers name and picture. The license is only good for the registered product they are selling. Be sure to acknowledge the solicitor so that they know someone is home and to avoid a burglary. It is always safer to address the solicitor from a side window or behind a locked screen door. If a solicitor asks to come into your home for any reason such as to use your phone or bathroom or for a glass of water, remember that you do not know the person and you are not obligated to let them in. If a sales person is allowed in the home, do not give into pressure to buy anything. If you ever feel uncomfortable end the conversation and ask the sales person to leave. Do not hesitate to call 911 if needed.

Happy Turkey Day Seattle!

Thanksgiving SeattleHappy Turkey Day Seattle!

For those procastinators: How to Cook a Turkey

For NFL Fans: 9:30 AM on CBS, Texans vs Lions (Seahawk fans root for Texans); 1:15 PM on FOX, Redskins vs Cowboys (Seahawk fans root for Redskins); & 5:20 on NBC, Patriots vs Jets (Seahawk fans do not care)

For College Football Fans: 4:30 PM on ESPN, TCU vs Texas

For Gonzaga Fans: 6 PM on ESPN2, Clemson vs Gonzaga

For those who get stressed on the holidays: Meditation

For those akward moments when talking to family: Discussion Topics

For keeping peace at the Thanksgiving dinner: Topics to Avoid

If you do not avoid those topics: Unbeatable Arguments

Seafair Weekend is Here!

The much anticipated annual Seafair weekend is finally here, and the list of events is better than ever! If you’re in or around Seattle, you’ve probably heard the blue angels whizzing over head as they prepare for their performances tomorrow and Sunday, and there will by hydroplane races tomorrow at Genessee Park, so take advantage of this beautiful summer weather and come join the masses for a wonderful Seattle summer tradition! 

The Seafair Fleet Week Ship Tours began yesterday and will go through Sunday, allowing patrons to climb aboard the ships and chat with the sailors who run them. This year marks the 62nd annual Seafair weekend, and in addition to the Blue Angels and Hydro races, there are some spectacular acts lined up like the Hyperlite Wakeboard Experience, great food and beer gardens. There are also Seafair events taking place in other areas around Seattle such as the Magnolia Summerfest and Seafair Parade tomorrow afternoon, and you can even stop by Boeing Field and watch the Blue Angels take off and land, so come on down and experience Seafair weekend in Seattle!

Magnolia’s Seattle Pie is Moving to South Lake Union

Magnolia’s beloved pie cafe, Seattle Pie, is unfortunately leaving the Magnolia neighborhood for South Lake Union. According to the Seattle Pie website, it will actually open on a vessel in the South Lake Union harbor, making it the first ever floating pie company. Look for it this summer!

If you can’t wait and have a craving for Seattle Pie’s scrumptious, award-winning fruit or cream pies, don’t try going to the old Magnolia location at 3111 West McGraw. It is already closed. Fortunately, you can still find the pies at various grocery stores, like the Met Market, Town & Country, Central Market, PCC, Whole Foods, etc. My mouth is already watering for a Strawberry Rhubarb pie. For more information, please visit the Seattle Pie website.

Seattle Funding Precinct-Liaison Attorneys

When there is a public safety issue or a chronic neighbor nuisance, it’s not always most efficient or effective to call 911. Sometimes, it’s best to go through a precinct-liaison program. Up until now, Seattle budget cutbacks have prevented funding to such programs.  According to a Seattle Times article, the Seattle City Council has restored funding to allow four attorney liaisons in  Seattle’s five police precincts.

For the Magnolia area, your precinct liaison attorney is Sumeer Singla. Starting in mid-February, you can contact him as a resource to solve neighborhood issues, like nuisance properties, feuding neighbors, and gang activity. Additionally, he lives in the West  precinct, so he has a vested interest in the public safety issues of Magnolia and the surrounding Queen Anne neighborhood. With a precinct liaison attorney, it increases the police capabilities, using legal means to solve community issues. You can contact him at 206-386-4084 for your community needs, starting mid-February. To view the precinct-liaison attorneys in the other precincts of Seattle or for more information, please visit the Seattle Times article.

Changes in Seattle’s Land Code Use Allows Magnolia Cottage

As reported in the Seattle and Real Estate blog, Seattle changed its land use codes in 2009 to permit backyard cottages. Since then, they have been sprouting up throughout the city of Seattle, including Magnolia.

According to the Magnolia Voice, a couple took advantage of this land-use change and built their first backyard cottage. The 2-bedroom, 800 sq.ft cottage will be used as a vacation rental and home for the woman’s father in the coming years.

If you’re curious about backyard cottage and want to find out more, there will be a open house at the backyard cottage – 3448 36th Avenue West – from 1pm-4pm on Sunday, January 15th.