07/03/2026
I was interviewed by the Magnolia Voice about the housing market in Magnolia specifically. It was great to chat about the unusual market dynamics we're experiencing, and go a little deeper than the top line that doesn't always tell the story.
Magnolia's Housing Market Remains Strong
By Steven Smalley
Magnolia homeowners wondering whether now is a good time to buy or sell may find the answer depends on what type of home they're talking about.
While the number of homes on the market has climbed to its highest level in years, longtime Magnolia real estate broker Michael Israel says single-family homes continue to favor sellers. Condominiums and townhomes, however, tell a different story.
"Magnolia is experiencing the same thing as Seattle and King County," said Israel, a broker with John L. Scott Real Estate. "For the first half of the year, we are currently at the highest number of homes for sale since 2011. We've also seen the lowest number of unit sales since 2011."
The increase in inventory might suggest a cooling market, but Israel says the numbers require a closer look.
"Overall unit sales are down in Magnolia, but not quite as severe as Seattle proper and King County," he said. "Inventory in Magnolia is pretty high. It's at a seven-year high."
For homeowners considering selling a single-family home, Israel says the market remains firmly in their favor.
"Single-family homes are still a seller's market," he said. "The median home price is down about 6-7%, but it's still a healthy $1.4 million. Magnolia remains one of the more expensive neighborhoods in Seattle."
One of the best indicators of market conditions is the amount of inventory available. A balanced housing market typically has about four months of inventory, meaning it would take four months to sell all available homes at the current pace if no new listings came on the market.
Magnolia isn't close to that level.
"Months of inventory for Magnolia is 1.5 months," Israel said. "A balanced inventory is considered to be about four months. So it's seriously a seller's market."
By comparison, Seattle as a whole currently has about 2.2 months of inventory for single-family homes.
Israel says sellers who prepare their homes well continue to see strong interest.
"If you have a house for sale in Magnolia, it's not to worry," he said. "There are buyers for the house. If it's priced well and shows well, there's a very good chance it will sell quickly."
The outlook changes when it comes to condos and townhomes.
"Condos and townhouses are very much a buyer's market," Israel said. "They're well over four months of inventory in Magnolia."
That gives buyers more choices and greater negotiating power than they have in the single-family market.
Even so, buying a home isn't necessarily easier today.
"If you're looking to buy a single-family home in Magnolia, it's not easier in terms of the borrowing rate to buy a house now versus several months ago," Israel said, noting that mortgage rates continue to affect affordability.
The takeaway for Magnolia residents is that the neighborhood's housing market is split. Sellers of single-family homes continue to hold the advantage, while buyers looking for a condo or townhome have more options than they've seen in several years.
For homeowners wondering what their property might be worth in today's market, or for buyers trying to understand neighborhood trends, the current market remains active, but success depends on pricing, preparation and the type of property involved.
Interested buyers or sellers can contact Michael Israel at 206-931-5624.
