Is Magnolia a neighborhood for the working class of Seattle or just the top 2%?
Below is the last two years real estate growth for the Magnolia neighborhood for homes priced 2 million and less. Not bad growth considering it was above the median price range to begin with for entire Seattle area however Magnolia is actually below other Urban neighborhoods like Queen Anne and Capital Hill and I believe there is definitive room for growth once people realize the upside of the neighborhood.
Each week I am going to take a closer look at the market conditions of neighborhoods in the Seattle area. This week I am going to start off in my own neighborhood Magnolia. I consider Magnolia unique because it really is off the grid in many ways and seems to
With unprecedented growth the last 2 years and 2018 showing no signs of slowing down due to record low inventory and low Mortgage Interest Rates now is actually an actually excellent to buy and sell depending on you needs and future goals. Contact me for more on how I can save you money Buying a home or Selling your Property.
Heading deep into fall when usually Real Estate takes a break there is a definite change in the Seattle area this year when there seems to be no slowing down in the market during the holiday's. Below is a great article at the year over gains seen with no slow down likely anytime soon. The question often arrises if Seattle is in a housing bubble. My short answer is a resounding "NO"! And I have a few indicators that I look at. One is and always will be supply and demand. With the amount of population increase and discretionary spending outpacing housing supply in the Seattle area price increases have only been driven by this with no slow down in site. Secondly, the majority of people buying homes now are looking for their primary residence