Magnolia Real Estate Report

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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.