Magnolia home prices rise in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in Magnolia rose by $5,792 while total sales increased by 46%, according to

From July through September of 2020, there were 73 homes sold, with a median sale price of $308,000 - a 1.9% increase over the $302,209 median sale price for the same period of the previous year. There were 50 homes sold in Magnolia in the third quarter of 2019.

The median sales tax in Magnolia for the most recent year with available data, 2015, was $805, approximately 0.3% of the median home sale price for the third quarter of 2020.

The following table compares Magnolia to other Kent County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Dogwood Meadows330%$315,000$323,653-2.7%
Rising Sun-Lebanon242020%$312,470$310,0000.8%
Big Oak Corners10-$311,000$0-
Foxhall Courtside135160%$310,000$137,000126.3%
Eagles Nest84100%$305,000$269,95013%
Lucky Estates60-$290,000$0-

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