Magnolia real estate demand and inventory both falling
By Adrian Willanger, Profit from my two decades of experience
(206 909-7536 AdrianWillanger-broker.com)
Magnolia real estate demand and inventory both falling This Week:The median list price this week in Magnolia is $1,074,995 up from last week’s list price of $999,972. The Market Action Index (see below MAI chart) has been trending down lately, indicating demand falling along with supply. Conditions point to mildly negative trends for the market. Magnolia real estate supply and demand In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.Average days-on-market: 63 up from last week’s 58 days.Percent of properties with price decreases: 32% up from last week’s...
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