Magnolia, Delaware is a small, cozy community just outside the state capital of Dover. Just minutes from Downtown Dover, Magnolia is close enough to Philadelphia and Atlantic City for a convenient day trip. It is also the midway point between New York and Washington, D.C., meaning residents are conveniently located to some of the country's greatest cities without having to deal with the daily hassles that come from living in a dense urban area.
Magnolia, Delaware is located near many other small communities that provide a number of shopping and dining opportunities within its borders. The area plays host to a pair of NASCAR races and their success has led to a plan to create a Sports/Entertainment Complex. With no state sales tax, there is plenty of excellent shopping, drawing consumers from outside the state to the area.
The entire Magnolia, DE area has become very popular in recent years, creating a big demand for housing. The popularity means there are a number of different housing opportunities including single-family homes, estate properties, condominiums, townhouses and land lots for sale. Thanks to the Schwartz Center for the Arts and Dover Downs, many national acts are attracted to the area. The Dover area was chosen as one of the 10 Best Small Cities by Employment Review Magazine. The ranking was based on employment rates, cost of living and overall quality of life.
Magnolia, DE Real Estate Market: Price Range of Magnolia Houses for Sale
Though not large in size, Magnolia, Delaware boasts a variety of different housing options. From brand new housing communities to older neighborhoods, Magnolia has a number of different styles and sizes to suit a variety of budgets and tastes. Single-family homes start at $48,000 for manufactured homes. Two to three bedroom houses in Magnolia subdivisions range from $160,000 to $350,000. Homes in Magnolia subdivisions like Woodfield and Doe Run start at $200,000, while homes in upscale areas like Jonathans Landing, Fields at Magnolia and Quail Landing offer options from $275,000 to $650,000 and can range from three-bedroom homes to lavish five and six bedroom homes.
In addition to single-family dwellings, there are also townhomes and condominiums available in Magnolia. For those who want larger lots with their houses, there are attractive options that include one or more acres of land beginning at $200,000 in subdivisions like Woodfield and Pleasant Valley.
Magnolia Real Estate Stats and Trends for the week of March 23rd, 2015: homes priced around $230,911 compared to $233,143 the previous week, for a slight decrease of less than -1%. For Friday, March 27th, the current national mortgage rate for a 30 year fixed mortgage is 3.82%; the 15 year fixed rate is at 3.00%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.04%, while the 15 year jumbo rate currently is at 3.91%. You can calculate your mortgage rate with our mortgage calculators. Get local info and homes for sale in Magnolia DE. View active real estate listings for different types of properties including new homes, houses for sale, foreclosures, short sales, and price reduced listings. Find information and property resources including prices of recently sold homes, neighborhood information, crime stats, home values, and schools in Magnolia to help you find the best home!