The Magalia housing market is showing balanced conditions with stable prices and moderate inventory levels. The median home price in Magalia currently stands at $290,000. With 47 active listings, inventory is 74% higher than seasonal norms. Homes are now taking an average of 96 days to sell, significantly longer than the 61 days typical for this market. A significant 38.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 20.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Magalia market with the affordability index at 204.0. Based on current market indicators, home prices in Magalia are projected to decrease by approximately 11.9% over the next month.
Magalia, CA has a total population of 12,074 residents. The area is predominantly White (82.0%), The area has a more homogeneous population distribution. As a smaller community, Magalia, CA offers a close-knit residential environment.
Market predictions for Magalia, CA show relatively stable home prices with minimal change (0.1%) over the recent period. This suggests a gradual price adjustment in the market. The current median home price in Magalia, CA is approximately $255,783.125. The stable price trend suggests a balanced market in Magalia, CA, suitable for both buyers and sellers.
Investment hotspot data for Magalia, CA is currently unavailable.
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