The phrase "it's magical" is correct and usable in written English.
It can be used to describe something that is enchanting, extraordinary, or mysterious. Example: The way the snowflakes fell from the sky was truly magical.
Exact(60)
"It's magical but it's not magic," he said.
It's magical".
Each time, it's magical.
"I mean, it's magical".
She says, "It's magical".
"It's magical at night".
It's magical, menacing stuff.
It's magical theater.
It's magical, there's so much togetherness".
With a glass of rosé, it's magical.
"It's magical thinking not to do this".
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com