by Sara 

Monthly real estate update


Each month we ask Magnolia Voice real estate expert Whitney Mason from Coldwell Banker Bain Associates to bring us the latest on the real estate market  in our area.  Here is Mason?s assessment from  statistics compiled from the Northwest Multiple Listing Service (NMLS).

Looking back at the last three months, Magnolia home sales continue at a reasonable pace, and overall inventory is steady.   

Since Feb. 1 through April 30 of this year, there have been 58 closed sales (51 Single Family Residences (SFR) & 7 condos) ranging in sales prices of $67,500 to $1,950,000. Of these sales, five were listed on the MLS as short sales, and six were listed as bank-owned properties.  Of the SFRs, three sales were for more than $1 million. 

For these closed sales, the cumulative days on market (CDOM) ranged from two days to 868 days – these numbers do not reflect further analysis of individual properties’ previous histories of cancellations or expirations. 

As of May 4, there were a total of 43 pending sales (SFR and condos) ranging in price from $117,000 to $1,450,000, with five being listed at more than $1 million.

Also as of May 4, there were a total of 78 SFRs and 25 condos available for sale in Magnolia as listed in the NWMLS, ranging in price from $95,000 to $6,970,000, with 26 of these properties with asking prices of more than $1 million.

Looking at closed sales for Magnolia in March of this year as compared to March 2010 as compiled by Rainier Title, there was a 4% increase in the number of sales of SFRs, with the median sales price down by 12% from $583,000 to $515,000.

About the author 


  1. Just because more homes are selling doesn’t make it a good thing. As per this article on Seattle Times this morning, over 1/3 of all home sales were a loss! That’s a 22% increase over this time last year. This means people are loosing money! The only people this benefits is the real estate agents. Let’s start listing facts instead of this fluffy the world is great crap that the mason’s keep pushing on us Magnolia People.

  2. Uh oh, median sales price in March down 12 percent from a year ago and that with mortgage rates still low. Buckle your seat belts when mortgage rates go up. I’m afraid we haven’t seen the worst yet (from the seller’s point of view).

  3. As prices have gone down, the number of sales have gone up. It is good news that we are selling more homes.

  4. Prices will continue to fall….for at least 2 more years. They will NEVER be as high as 2007 in the next 30 years. Yep, the bubble was THAT big.

  5. is the sample size large enough for an R-value worthy of saying with certainty that the 12% drop in prices reliably represents a year-to-year trend? I doubt it. Better to look at statistics from the metro area which aren’t so gloomy.

Comments are closed.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
Subscribe to get the latest updates