School has started and the rain is falling already. We have entered September of 2016 – not quite the fourth quarter of the year, but it usually goes by pretty quickly from here, so time to reflect on the Magnolia real estate market of 2916 so far! In the last thirty days alone, 32 Magnolia homes for sale have closed in escrow according to the MLS. These Magnolia homes sold range in price from $465,000 to $1,425,000 with a median sales price of $757,475.
None of the larger luxury Magnolia homes for sale have closed or gone pending with the exception of just one over the two million dollar mark that is currently pending. Ryan Lewis’ house is still for sale with a price tag of $9,450,000 and there are two fabulous Lawton Wood homes for sale currently priced at $4,250,000 and $5,188,000. There is also a great Magnolia Boulevard home listed for $3,950,000. None of these are the ones receiving offers currently. In fact, of the 34 Magnolia homes for sale that are pending in the MLS, they range in price from $485,000 to $2,350,000 with a median list price of $880,000. Only 13 of these are above the million dollar listing mark and only 1 is above the two million dollar mark. The average days on market for these pending Magnolia homes is 35 days. Of the 32 SOLD Magnolia homes in the last 30 days, there are only 6 that were in the million dollar listing and above mark. None surpassed the two million dollar mark.
Molly and I closed on our latest Magnolia listing on 31st Ave W. We listed the home at 1712 31st Ave W for $1,250,000, and after 4 days on the real estate market with multiple buyers and interest, we were under contract. We closed this Magnolia home in escrow on 8/15/2016 for a final sales price of $1,300,000. This is $541.67/square foot and 4% over list. The average dollar per square foot for Magnolia overall is currently $445.38 and the average sale price to list price ratio is 100.85% so being at 104% for ours and at $541.67 a square foot pleased us greatly.
Please let us know if you are interested in learning more or would like to speak with Magnolia Realtors:
call/text Courtney Cooper 206-850-8841 / Molly Cartwright 206-841-6800
Cooper Jacobs Real Estate Group, Keller Williams Downtown Seattle