Lake Magdalene Homes For Sale

If you're considering a move to Lake Magdalene, Florida, or looking to invest in real estate here, you've come to the right place. Our in-depth analysis and professional guidance can help you navigate this somewhat competitive market with confidence.

Current Market Overview

• Median Sale Price Trends: The median sale price for homes in Lake Magdalene has seen a healthy growth, currently standing at $410,000 – up by 1.1% since last year.
• Sale Price Per Square Foot: The median sale price per square foot is now $238, reflecting a significant increase of 6.5% from the previous year, indicating robust market health.
• Market Pace: Homes are selling rapidly, with the average home selling after just 10 days on the market – a sharp decrease from 33 days last year. This trend underscores the growing demand in the area.
• Sales Volume: There's a shift in the volume of sales, with 26 homes sold in October this year compared to 46 in the same period last year.

Market Competitiveness

• Average Selling Time: Homes in Lake Magdalene typically sell in about 21.5 days.
• Offer Dynamics: The market sees some homes receiving multiple offers, showing a competitive edge.
• Pricing Strategies: On average, homes sell for roughly 2% below the listed price. However, "hot homes" can achieve around the list price and go pending in merely 7 days.

Migration and Relocation Trends

• Local and External Interest: From August to October 2023, 69% of Lake Magdalene homebuyers aimed to stay within the metropolitan area, while 31% looked to move out.
• Inbound Interest: Nationwide, 2% of homebuyers are considering moving to Lake Magdalene, with the highest interest coming from New York, Washington, and Chicago.
• Resident Relocation Preferences: Among the local residents, 69% are looking to stay within the Lake Magdalene area. Popular destinations for those moving out include Orlando, Sarasota, and Asheville.

Why Consider Lake Magdalene?

Lake Magdalene presents an attractive mix of rapid market movement, competitive pricing, and a steady influx of interest from both local and out-of-state buyers. Whether you're a first-time buyer or looking to invest, Lake Magdalene's market offers diverse opportunities.

Let Us Guide You

Our expert team is committed to offering professional, insightful, and tailored services. For any inquiries or interest in the Lake Magdalene real estate market, feel free to reach out to us. We're here to ensure your real estate experience in Lake Magdalene is both rewarding and seamless.