Magnolia Real Estate Market Update

 Seattle's Magnolia District is located north of downtown, Northwest of Queen Anne Hill and borders Salmon Bay, the Puget Sound and North Queen Anne. It's home to luxury estates, waterfront property and one of Seattle's largest parks, Discovery Park located in the northwest quadrant of this community. It also has several smaller parks within the community such as the West Magnolia Park, Magnolia Park, Bayview playground, Lawton Park Kiwanis Memorial Park and Magnolia Manor Park. This is primarily a residential community with very few shops, restaurants and markets therein. Because of this, it is a quieter more coveted part of town for those that own vehicles and prefer a larger estate.

Townhouses and condominiums started about $190,000 with lots starting around $200,000 and homes reaching into the millions for waterfront property, gorgeous estates and large lots. In the center of Discovery Park is a small condominium complex with two and three bedroom floor plans with large layouts of over 2000 ft.² typically priced from $800,000. Waterfront estates are located along Perkins Ln., Magnolia Bluffs and Magnolia Boulevard. These homes feature stunning views of the Puget Sound and several have peekaboo views of the city skyline and West Seattle. Most of these homes are not in individual subdivisions so you won't find properties with homeowners association fees except those in townhouse communities or condo complexes.

At any given time there's roughly 20 to 35 properties for sale in Magnolia. Homes typically stay on the market for about 30 to 60 days depending on whether they are priced correctly and how much they'll sell for. Prices range from about $200,000 to several million dollars but the average home sale price is about $670,000. Throughout the entire Magnolia area approximately 250 to 300 homes are sold annually. The average size is about a three bedroom and 2 1/2 bath home of around 2100 ft.². The average sold price is usually around $760,000 with about 25 days on the market. The average price per square foot is roughly $370.

Below are the current listings for sale in Magnolia and following that are several pending sales over the last couple of months. At the bottom you'll find the most accurate and up-to-date sold properties over the last six months throughout Magnolia. For more information or to view any of the current listings up close and personal please contact my office today. I specialize in North Seattle homes and Magnolia real estate. (The image above is from an actual MLS listing in Magnolia)