$10,000 Closing Credit*
$1,049,000
995 SqFt
2 Beds
•1 Full Bath
Manuel Fierros, Listing Office: Ontrak Real Estate
Is Magnolia Park, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Magnolia Park has remained a Seller's Market.
Key Takeaway
Magnolia Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Magnolia Park, CA
How much do homes in Magnolia Park, CA cost?
Median Sold Price
$1,275,000
$859/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$37,500(-2.9%)
Key Takeaway
Homes in Magnolia Park have sold for 2.9% less than they did a year ago.
Summary: The median home sold price in Magnolia Park was $1,275,000 in October 2024, down 2.9% from last year, and the median price per square foot was $859.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $725K | N/A |
| 2 Bedrooms | $960K | $962K | 0.2% |
| 3 Bedrooms | $1.3M | $1.2M | -2.8% |
| 4 Bedrooms | $1.3M | $1.4M | +6.4% |
| 5+ Bedrooms | $1.8M | $2.9M | +63.9% |
Summary: Magnolia Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.2%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 63.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Chandler Park | $1.1M | $1.2M | +9.1% |
| The San Fernando Valley | $870.2K | $937.5K | +7.7% |
| North Hollywood | $820K | $868.3K | +5.9% |
| Magnolia Park | $1.3M | $1.2M | -2.9% |
Housing Supply in Magnolia Park, CA
How many homes are available in Magnolia Park, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 19 | -9.5% |
Summary: The Magnolia Park real estate market had 19 homes for sale in October 2024, a 9.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 5 | -44.4% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Magnolia Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 44.4%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Magnolia Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Magnolia Park in October 2024, down by 40.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Magnolia Park, CA
How long does it take to sell a home in Magnolia Park, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 48 Days | +196.0% |
Summary: Homes in Magnolia Park had an average of 48 days on market in Oct 2024, up by 196% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Magnolia Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Magnolia Park; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.