Magnolia & Queen Anne home sales in 2007 – 2011
Based on Northwest Multiple Listing Service data here is a comparison of residential real estate market in Magnolia and Queen Anne neighborhoods in 2007 – 2011. This report does not include condos.
What happened with Magnolia and Queen Anne home market within last 5 years? Let’s see how it changed since the real estate market peak.
Sales in Magnolia
2007 – 2008 down 31% 2008 – 2009 up 17% 2009 – 2010 up 22% (reaching the amount of sales in 2007) 2010 – 2011 down 17%Sales in Queen Anne
2007 – 2008 down 30% 2008 – 2009 up 17% 2009 – 2010 down 3% 2010 – 2011 down 7%Sales in 2011 were down 18% in Magnolia and 26% in Queen Anne from 2007.
Average sale price in Magnolia
2007 – 2008 down 11% 2008 – 2009 down 18% 2009 – 2010 up 12% 2010 – 2011 down 9%Average sale price in Queen Anne
2007 – 2008 down 3% 2008 – 2009 down 13% 2009 – 2010 down 1% 2010 – 2011 no changeAverage sale price in 2011 was down 26% in Magnolia and 16% in Queen Anne from 2007.
Median sale price in Magnolia
2007 – 2008 down 7% 2008 – 2009 down 20% 2009 – 2010 up 9% 2010 – 2011 down 10%Median sale price in Queen Anne
2007 – 2008 down 3% 2008 – 2009 down 7% 2009 – 2010 up 1% 2010 – 2011 down 5%Median sale price in 2011 was down 27% in Magnolia and 14% in Queen Anne from 2007.
As we can see Magnolia had much bigger decline in home prices than Queen Anne. Interestingly enough the sale prices improved in 2010 and then dropped again in 2011. We will see what happens this year. I hope that prices will stabilize in both neighborhoods. Inventory is still shrinking and hopefully the demand will grow along with the consumer confidence.
Information based on Northwest Multiple Listing Service data.
Information deemed reliable but not guaranteed.
Information and photos posted by Ally Wangsness. The content may not be copied, reproduced and republished without the written permission of Ally Wangsness, Broker, RE/MAX Metro Realty, Inc.
