Madrona Real Estate Report – October 2017

Seattle has been the hottest growing market in the country for the last year and shows no signs of cooling down. The median price for a single-family home has gone up 17.6 percent compared to a year ago. The typical Seattle home sold for $110,00 more than this time last year, $735,000.

Madrona continues to show strength in the Seattle market. According to the Northwest Multiple Listing Service, the median sales price for a single-family home was $1,160,000 last month (October 2017). The average sold price has jumped from $1,123,500 (October 2016) to $1,231,111. There were more than double the amount of sales in the Madrona neighborhood last month than this time last year. There are currently 7 active listings and 12 pending.

Leschi is showing signs of a strong market as well. There were 5 sales last month as well as 5 sales in October 2016. The median price for a home was $750,000 last month, compared to $730,000 in 2016. The average sold price took a large increase from $779,800 in October 2016 to $1,068,590 last month. There are currently 12 active listings and 8 pending.

Madrona is a part of “Central Seattle” as defined by Seattle real estate agents. Central Seattle real estate mainly includes the area from the Montlake cut to I-90 and from Lake Washington to I-5. Currently in the central Seattle area there are 87 active listings and 98 pending listings.

All That Glitters

The 34th annual Glitter Sale at the large Goodwill store, 1400 South Lane Street (Seattle), is fast approaching! If you’ve never attended before, come prepared to be dazzled (and possibly a little frazzled, because of the sheer number of attendees) on November 11th and 12th from 9 am- 6 pm. Since the waiting lines to the few fitting rooms are long, it’s best to come prepared by wearing clothing in which you can try things on over the top, right in the aisles, such as tank tops, body suits, and thinner leggings/pants. You still have the option of waiting for the fitting rooms, but the afore mentioned does save time. The glittery or glamorous finds on sale include formal dresses and suits, pants, tops, shoes, coats, hats, jewelry, and many other items.

Last year, this 2-day event brought in a record $310,000 towards free job training and education for those in need. Goodwill placed 1,918 people in jobs last year through their programs.

There will also be a Glitter Sale Preview event on November 8th from 4 pm-8 pm at $50 to $125 per ticket. The advantage is being able to view the collection before the general populous sees it at the official sale three days later. Click here for a sneak peak at a few of the items that will be offered.

So when you’re trying on that vintage hat or buying that sequined outfit, you can feel good about contributing toward a good cause. With the number of people’s lives that are improved by Goodwill’s programs and this sale, all that glitters really is gold.

Madrona Real Estate Report – August 2017

Madison Valley View

The Madrona real estate market has shown quite the change last month compared to August 2016. There were 13 sales last month and 7 last year (8/16). The average sold price for single-family homes has jumped from $896,929 to $1,016,660. According to the Northwest Multiple Listing Service, homes are selling in just over two weeks. There are currently 5 active listings and 10 pending.

Past Ewing and Clark Madrona Sale

The Leschi market has slowed down this past August compared to a year ago. There were 4 sales last month, compared to 7 in August 2016. The average sales price has dropped from $822,500 (8/16) to $680,250 (8/17). Single-family homes sold, on average, in 33 days.

Madrona is a part of “Central Seattle” as defined by Seattle real estate agents. Central Seattle real estate mainly includes the area from the Montlake cut to I-90 and from Lake Washington to I-5. Currently in the central Seattle area there are 91 active listings and 102 pending listings.

For Sale: Madison Valley Home

This fabulous Madison Valley town home offers great location, views, finishes, & value! The slate floor entry is spacious enough to accommodate an entry bench and table for keys, mail, etc. A three-quarter bath, a generous bedroom, and a sunny office are also on this level. Sliding doors unite the office to the 280 sf patio great for entertaining or a little fresh-air quiet time on a summer day.

The 2nd level of this home serves as the primary living space and has freshly refinished cherry floors throughout. Kitchen is equipped with stainless appliances. The windows on this level each provide a beautiful outlook: west facing windows from the kitchen look out to mature Japanese Maple and garden area, a large picture window over the built-in bench in dining room adds a tree-house back drop, and the living area is surrounded by airy views of Cascade Range with the lush, age-old trees of Washington Park in the foreground. A gas fireplace surrounded by built-ins for your library or treasures provides great ambiance & warmth during the winter months. A powder room is conveniently located on this level as well.

Vaulted ceilings and bright white walls along with the views of Lake Washington, Bellevue skyline, Cascades, and green Seattle canopy make for a heavenly master bedroom on the 3rd floor of this home. A connecting full bath with jetted tub, walk-in closet, and separate closet for full size washer/dryer complete this room. The 3rd bedroom, also with vaulted ceilings, has bright, western exposure and a large closet. This room shares the large bathroom on this floor and can access through 2nd door off the hallway.

The amazing central location is walking distance to parks, groceries, multiple coffee shops and fine eateries, quick bus to downtown, close to Lake Washington beaches, and easy access to I-5, 520, and I-90. This low maintenance, ready to move in home will buy you time in your schedule for doing the things you enjoy!

For more information contact Ewing and Clark or Kristine Losh directly.

There will be an open house this Saturday, September 9th, from 1 pm – 4pm. 

Save the Date!

The Annual Madrona Wine Tasting has come early this year, so mark your calendars! This October 7th, from 6:30pm – 8:30pm, the Madrona Community Counsel will be holding their annual wine tasting fundraiser at St. Therese Social Hall (900 35th Ave). The event is organized by Leschi Market and will be featuring many vintners!

You can find tickets @ http://bpt.me/3065567

More information to come!

Fred Hutch’s Obliteride Rolls Madrona

Fred Hutch’s Obliteride Rolls Madrona on August 13

 

Cheer on the riders as they pedal through your neighborhood

 

 

Fred Hutch’s Obliteride, the ride to end cancer is marking its 5th anniversary and is bigger than ever. About 2,000 riders are participating to raise money for cancer research at Fred Hutch on Sunday, Aug. 13.

There will be no road closures but we are encouraging motorists to look out for riders and are hoping residents will come out and cheer on riders.

2017 Madrona Summer Concert Series

Madrona Summer Concert’s start tomorrow at the Madrona Playfield! Join your neighbors Thursday evenings, between 6pm & 8pm, in the park for a night of music and fun! Bring your picnic, blanket, and chairs and enjoy local bands!

The schedule is as follows:

August 10th, The Parlour Shakes

August 17th, Bell Thompson Group

August 24th, Mud Junket

August 31st, TBD

Central Affordable Housing & Business Development

A year ago, Vulcan Real Estate bought six acres at 23rd Avenue South and South Jackson Street for $30.9 million in the Central District of Seattle. Five years earlier, another realty company, which sold to Vulcan, paid $12.5 million less. Currently, a Red Apple grocery store sits on this site, which will be replaced with two 7-story buildings separated by a public walkway and an additional one-level retail space. The first floor on the two, larger buildings will be for retail, with 530 apartments above and a multi-tiered 500+ parking garage below.

Renderings of Future Vulcan Building. Image: Vulcan Real Estate and Studio 216

Increased gentrification of our city has some concerned, and the Central District area is no exception. In the 1960s, this neighborhood was 70% African-American, according to a Seattle Times article; a year ago, it was down to 20%. In part due to sharply rising housing costs, there has been a call for more affordable housing in the Central District, and keeping or attracting African-American-owned businesses to the neighborhood. Concerning affordable housing, one-fifth of Vulcan’s new site will include rental units offered at a reduced amount (65-85% median income), which in turn provides Vulcan with a tax credit.

Other Central District plans are underway to increase affordable housing and business opportunities farther north along 23rd Avenue South as well. The Midtown Center at 23rd and East Union Street was purchased by a partnership for a combination of profit, retaining some of the center’s current character, and to build 125 affordable living units within the 500-unit complex. This developer might also receive a tax credit, not unlike Vulcan, and be able to build more floors on the building. And the former Liberty Bank location at nearby 24th and Union will be the site for a new 6-story, mixed-use building with up to 115 affordable housing units and commercial spaces that focus on attracting local business, especially African-American.

Madrona Real Estate Market – May 2017

The Madrona real estate market hasn’t changed drastically compared to last May (2016). Reports show the same amount in sales and only a small increase in the average median list price, $1,090,595(2016) to $1,110,400 (2017). Homes stayed on the market for an average of 66 days last month. Last May homes were only on the market for an average of 8 days. There are currently 8 active listings and 6 pending.

The neighborhood next door, Leschi, is showing a great amount of growth in the market compared to last year. Though there were 3 less sales than last May, the median sales price has gone up from $765,000 (May 2016) to $1,024,950 (May 2017). The lowest cost of a home has jumped nearly 93% from last May, numbers climbed from $425,000 to $819,950. Two of the sales last month were condo sales, one sold for $259,950 and the other sold for $1,995,000. There are currently 12 active listings and 12 pending in the Leschi neighborhood.

Madrona is a part of “Central Seattle” as defined by Seattle real estate agents. Central Seattle real estate mainly includes the area from the Montlake cut to I-90 and from Lake Washington to I-5.  The start of the year shows home prices are up across the city and sales for the first five months are down with 705 sold versus 715 sold in 2016. Currently in the central Seattle area there are 141 active listings for sale and rent.

If you have any questions about the Seattle real estate market, please feel free to reach out to a local Seattle real estate agent.

Photos Above :

New rental listing in the Madrona neighborhood! 

728 36th Ave, Seattle

Beautifully remodeled tudor on one of Madrona's most desirable streets.
Amazing 180 degree views of Lake Washington, Cascades, Rainier.
Master suite + 2 additional beds and 1 bath up. Gorgeous cooks kitchen
with stainless appliances and built in eating area. 2-car attached 
garage off alley.

Available for $6,000 a month. Contact Kristine Losh for further details
or click here!

The Market’s Open!

The seasonal Madrona Farmers Market opened recently on May 19th! Because of our unusually long rainy season this year in WA State (the longest on record in modern history), some of the farm vendors understandably had a delay with their crops. But our warm season is firmly underway now, as are abundant produce, herbs, and artisanal goods!  Look at this chart to see what’s approximately available. (Keep in mind there might be a lag, due to previous rain).

Recently, Seattle was rated 4th in the nation for being the most fit city. One of the reasons cited for this improvement was the increase in the number of farmers markets in our area: a positive indication that unprocessed, natural food can make a difference in one’s health.

If you would like to visit other farmers markets in other neighborhoods as well, here is a complete list of places and hours from The Seattle Times. The Madrona Farmers Market is on Fridays, from 3-7 pm through the end of September. Bon appetit!