From January through March of 2021, there were 43 homes sold, with a median sale price of $354,059 - a 28.7% increase over the $275,000 median sale price for the same period of the previous year. There were 38 homes sold in Magnolia in the first quarter of 2020.
The median sales tax in Magnolia for the most recent year with available data, 2015, was $805, approximately 0.2% of the median home sale price for the first quarter of 2021.
The following table compares Magnolia to other Kent County cities with similar median sale prices in the first quarter of 2021:
| City | Jan. - Mar. 2021 Home Sales | Jan. - Mar. 2020 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2021 Median Sales Price | Jan. - Mar. 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Pennwood | 2 | 2 | 0% | $563,950 | $315,000 | 79% |
| Quails Nest | 7 | 2 | 250% | $439,825 | $330,000 | 33.3% |
| Bush Manor | 1 | 1 | 0% | $405,000 | $232,000 | 74.6% |
| Bowers | 1 | 1 | 0% | $365,000 | $220,000 | 65.9% |
| Magnolia | 43 | 38 | 13.2% | $354,059 | $275,000 | 28.7% |
| Hall Estates | 1 | 3 | -66.7% | $348,549 | $239,900 | 45.3% |
| Brookfield | 1 | 0 | - | $340,000 | $0 | - |
| Bishops Corner | 1 | 2 | -50% | $335,000 | $203,553 | 64.6% |
| Rising Sun-Lebanon | 30 | 18 | 66.7% | $331,640 | $304,370 | 9% |
| Garrison Lake Green | 2 | 4 | -50% | $320,500 | $313,500 | 2.2% |
| Riverview | 12 | 10 | 20% | $317,500 | $262,519 | 20.9% |
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