$5,105 Closing Credit*
$429,900
1,745 SqFt
3 Beds
•2 Full Baths
Michael J Harrington Jr., Listing Office: Century 21 Harrington Realty, Inc
Is Magnolia, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Magnolia was a Neutral Market.
Key Takeaway
Magnolia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Magnolia, DE
How much do homes in Magnolia, DE cost?
Median Sold Price
$413,250
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,255(+3.3%)
Key Takeaway
Homes in Magnolia have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Magnolia was $413,250 in October 2024, up 3.3% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $435K | $212.9K | -51.0% |
| 3 Bedrooms | $326K | $367K | +12.6% |
| 4 Bedrooms | $421.9K | $440K | +4.3% |
| 5+ Bedrooms | $447.5K | $515K | +15.1% |
Summary: Magnolia 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 decreased by 51%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 15.1%.
Median Sold Price Compared To Nearby Cities
| Central Kent | $385K | $414K | +7.5% |
| Magnolia | $399.9K | $413.2K | +3.3% |
Housing Supply in Magnolia, DE
How many homes are available in Magnolia, DE?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 68 | 71 | +4.4% |
Summary: The Magnolia real estate market had 71 homes for sale in October 2024, a 4.4% increase 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 | 7 | 8 | +14.3% |
| 3 Bedrooms | 26 | 28 | +7.7% |
| 4 Bedrooms | 33 | 31 | -6.1% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Magnolia 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 increased by 14.3%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 19 | +46.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Magnolia, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Magnolia in October 2024, up by 46.2% month-over-month. Of the 19 sold homes, 42% were sold under asking, 21% were sold at asking, and 37% were sold over asking.
Days on Market for Magnolia, DE
How long does it take to sell a home in Magnolia, DE?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 32 Days | +78.3% |
Summary: Homes in Magnolia had an average of 32 days on market in Oct 2024, up by 78.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Magnolia are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in Magnolia; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
