Leschi & Madrona Real Estate – 2016 in Review

Madrona HomeLeschi real estate market was strong in 2016.  Leschi home sales saw a rise in median price ($766,750 vs $732,500), price per square feet was up ($395 vs $366), and the highest sale was over double the previous year ($5,402,500 vs $2,500,000).  The days on market did rise slightly (35 vs 28 days).  Also, the number of sales in 2016 dropped dramatically: 58 sales vs 88 sales in 2015.  This might be explained by the low Seattle real estate inventory discussed later.  The Leschi condo market is hard to compare since there are so few sales.  For 2015-2016, there was an average of one sale per month (25 sales).  There was 9 condominium sales in 2016 versus 16  sales in 2015.  There was only one sale in 2016 over $1 million, in 2015 there were 3 sales over $1 million and 2 sales over $2 million.

Madrona real estate market, unlike in Leschi, saw an increase in sales in 2016 (81 sales vs 72).  Like Leschi home sales, Madrona home sale saw an increase in most numbers.  Median sales price ($950,000 vs $849,500), price per square foot ($432 vs $381), and highest sale ($3,500,000 vs $2,050,000) all increased in 2016.  The days on market was the same in both 2016 and 2015: 32 days.  Madrona did not have any condo sales in either year.

The overall real estate market in the region (area covered by Northwest Multiple Listing Service which serves 23 counties in Washington) saw an 8.1 increase of sales in 2016 when compared to 2015 with inventory at a record low for most of the year. For the 23 counties, the median sales price increased 8.9 percent from $310,000 in 2015 to $337,500 in 2016. Condos, which make up a smaller share of the market, were actually up 12.6% while single family homes increased 8.7%.

Inventory was tight throughout the year, there was an average of 1.86 months of inventory in 2016, compared to 2.4 months in 2015. King County was the tightest with only 1.1 months of supply. A balanced market is generally considered to be between 4 and 6 months of inventory.

The luxury real estate market was strong in 2016, with over 3,251 home sales over $1 million compared to 2,676 in 2015: over a 21 percent increase. The number of condos over $500,000 also increased with 1,711 sold in 2016 versus 1,459 half-million dollar sales in 2015: also over a 21 percent increase.

2017 seems to be taking over where 2016 left off. Low inventory remains and prices remain strong. As always, to maneuver the market, reach out to your local real estate broker to navigating the Seattle real estate market.

[Pictured: Madrona Home sold by Ewing and Clark in Feb. 2016 for $1,725,000]

These statistics were gathered from the Northwest Multiple Listing Service, but were not compiled or published by that organization.

Madrona Real Estate Report – May 2016

The Madrona real estate market showed some growth this May compared to last year. There were ten sales this year compared to seven in 2015. This year the total sales amounted to $11.9 million. Currently, there are twelve active listings totaling just over $14 million and seven pending totaling just below $10 million. The lowest year-to-date sales price in Madrona is up from $577,200 to $614,000 and the average sales price is up from $1,157,450 to $1,195,800.

For similar information on Capitol HillMadison Park, or Denny Blaine please click the previous links above.

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 two months are down with 165 sold in 2015 versus 158 in 2016.  Currently in this central Seattle area there are 177 active listings.

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

 

Madrona Wine Tasting Event – Nov 14th

Madrona WineCome join your Madrona neighbors for the Fifth Annual Fall Wine Tasting event on Saturday November 14 from 6:30-8:30pm at St. Therese Church and stock your wine cabinet just in time for holiday entertaining.

Tickets are on sale now for $32.50.  All tickets include wine tasting with special pricing on a variety of wines, including deep case discounts (pennies above cost!).

Ticket sales benefit the Madrona Community Council and fund neighborhood activities like Mayfair, Halloween and other community-building events.  A special thank you to Leschi Market for arranging the wine selection.

We hope to see you there this year!  It is a fun event and open to all who are 21 years-old and up.

Shooting on the 4th of July

There has some major discussion on Madrona Moms and postings on Madrona NextDoor.  It was a dangerous situation, that we feel the Madrona neighborhood should be aware of.

A woman was driving with 3 children after the fireworks show on the 4th of July. She was traveling towards I-90 when she stopped briefly on Massachusetts near Colman Park to call a friend who was following her and missed the turn. Someone from a group of people celebrating the 4th across the street started shooting at her car. This was completely unprovoked. She immediately drove away, but five bullets hit her car. Three of the bullets penetrated the driver’s side door, shattering the window and created an outline around the driver. There is another bullet hole near the headrest in the rear seat. If any one of the bullets would have been six inches closer it would have hit her or one of the children. Police are investigating.

Stay safe Madrona.

policeman-cartoon

Madrona Garage Sale Saturday 6-20-2015

The Madrona Neighborhood Garage Sale is this Saturday (6-20-2015).  Attached is the map as well as sheet that shows the corresponding number on the map, the address, brief description, and the time.  (Note it looks like there is a mistake and #3 should be by Cherry not Union).  Have fun shopping Madrona!

Madrona Garage Sale

# ADDRESS DESCRIPTION HOURS
1 714 – 33rd Avenue Baby gear and furniture, children’s books and toys, furniture, CDs, and household items 9AM – 1PM
2 926 Randolph Avenue furniture, art, vintage stuff, ethnic textiles, Asian and American baskets and artifacts, clothing & jewelry, household and garden items. 9AM – 3PM
3 624 – 37th Avenue women’s clothing, including some designer items, women’s costume jewelry, china, glassware, small appliances, table lamps, floor lamp, pair of mahogany end tables, occasional bedroom or library chairs, small white wrought iron patio set of table and four chairs, stereo speakers,  other miscellaneous household items. 10AM – 3PM
4 1116 Newport Way Household décor, household items, small electronics, large and small furniture, clothing, art 8AM
5 3516 East Union Street Baby toys and gear, household furniture, books, women’s and men’s clothes, sports equipment, electric heaters that have never been used. 10AM – 4PM
6 736 32nd Avenue a couple bikes, a lot of household items, toys, books 9AM
7 719 33rd Avenue Household items, furniture, books, clothes 8AM – Noon
8 3314 E. Spring Street never worn and gently worn clothes & home items  11AM – 6PM
9 1110 – 31st Avenue books, an HP printer, Miscellaneous household items, Miscellaneous sports equipment (including a bike, a bike trainer, back pack), etc. 10AM – 4PM
10 3403 East Spring Street children’s gear, toys, books, household items, video games, etc. 9AM – 1PM
11 706 33rd Avenue household items, children’s shoes and sandals (some NIB, Keen, Merrill, Umi, Toms), boy’s brand name (Hanna Andersson, Tea, Gap, Gymboree) and play clothes, women’s brand name clothes (Anthropologie, Banana Republic, etc.), women’s shoes and sandals, DVDs, electronics, toys. 9AM – 4PM
12 3601 East Columbia Street Children’s gear, games, toys, sporting equipment, household items, books.  830AM – 12PM
13 3017 East Yesler Street Designer clothes and shoes (mostly wms size 6.5 & 10), Designer Sunglasses, Jewelry/Watches, Contemporary furniture, Housewares, Camera (Nikon SLR), Teak furniture 9AM – 3PM
14 425 – 31st Avenue baby clothes, baby gear, toddler and kids clothes (for boys and girls!), preschool toys, board games, puzzles, TONS of kids books, plus women’s coats, purses, electronics, housewares, sporting goods, and more! 9AM – NOON
15 759 – 31st Avenue women’s and men’s clothing, kids toys, sand box, playhouse, bookshelves, books, small tools, small furniture, quality bike parts (frame, wheels, etc.). 10AM – 1PM
16 758 – 31st Avenue Records, Games, Books, Children’s clothes and household items 9AM – 1PM
17 925 – 31st Avenue baby items & toys, some toddler toys/books and toddler clothing, some household decor items 10AM – NOON
18 1630 – 32nd Avenue Tons of women’s clothing/shoes/boots by J. Crew, Frye, Dansko, Lululemon, Crafting supplies, books, household items and appliances, bike, toddler/preschool toys and clothes. 9AM – 3PM
19 626 -36th Avenue Whirlpool refrigerator, Bosch washer & dryer, Magic Chef microwave (all are white). Samsonite luggage, traditional light fixtures, Restoration Hardware glass lamp,shades, Cranberry Xmas garlands, Potty Barn red magnolias, push lawn mower 10AM – 1PM

 

 

Madrona Plaza Available for Purchase

Madrona PlazaOver the last several years, real estate has changed drastically in Madrona’s commercial core. The two blocks on 34th Avenue between Spring and Pike streets have seen at least four new buildings go up, including the Pike Station, Madrona Refuge, and the two currently under construction. The Amara building will soon be developed. Real estate investors have seen tremendous potential in Madrona, and now instead of constructing a new building, there is an opportunity to invest in an existing property in the middle of all the action. Located in the heart of the Madrona business district, the Madrona Plaza building offers executive office space perfect for an owner-user or an investor (Click previous link for more building details).

The Madrona Plaza quietly hit the market a couple weeks ago. Built in 2000, the office building with retail on the ground floor is equipped with state-of-the-art office and communication services, elevator service, and secured parking. Peacefully situated next to Red Cow, across from the Hi-Spot, surrounded by the other Madrona shops, restaurants and parks, the Madrona Plaza offers a variety of activities to enjoy during the day or after work. The building’s tenants are made up of an executive suite model, two larger office space tenants, and long-term telecommunication leases for cell towers on the roof.

If you are interested in learning more about the Madrona Plaza, feel to contact Roger Lorenze of Ewing & Clark.

Madrona Blossoms – Needs You!

madrona blossomsMadrona Blossoms needs your help.  Madrona Blossoms has helped beautified the business district of Madrona over the years, but the time has come to pass the baton to organize the baskets. Many people have help keep the Madrona Blossoms going over the years including, but limited to, Suzanne Sheppard, Mike Walker of Hi Spot, John Platt from St. Clouds, but probably the heaviest load has been carried by Marie Doyle and Andrea Matus-Magee.  Marie and Andrea have done the marketing/communication to raise the money, tracked the donations and thanked the donors.  After ten years, Marie and Andrea are ready to step down and are asking for volunteers that can keep the tradition moving forward.  If interested, please feel free to attend the next Madrona Community Council meeting at the Madrona Playfield Shelterhouse (corner of Spring and 34th next to tennis courts) on Tuesday night, October 7th, at 7:15 PM or if you prefer comment on this blog and we will pass your name along.

You can run Pritty Boys Pizza in Madrona!

pizzaDo you want to run a pizza restaurant in Madrona?  As many of you know, Pritty Boys Pizza closed, but the business is available for purchase.  We should have known this was coming: the owner’s Madrona home recently went on the market and the rumor is they moved across the lake.

We hope someone buys the restaurant….we already miss the fun family atmosphere, the pizza, and our personal favorite: the broccoli.  First the Madrona Ale House gets rid of their toys, now this!  Madrona families with young children are panicking.

We wish the Pritty Boy’s owners well.  They quietly supported Madrona activities such as Mayfair, Madrona Dine Out for Madrona K-8, and recently paid for a large portion of the holiday decorations for the Madrona business district.

Financial Resource Day at Rainier Community Center

Resource DayThe Financial Empowerment Network Seattle-King County is comprised of over eighty public, private, and non-profit agencies. The underlying belief of the partners in the network is that financial knowledge and sufficient assets are crucial to help struggling families move out of poverty and towards economic self-sufficiency. The Network connects people in need of advice with experts in banking, financial planning, etc to assist in this goal.

The Networs 4th Annual Financial Resource Day is just a couple weeks away: Saturday, March 22nd, 10am to 3pm at the Rainier Community Center in Seattle. Free tax filing assistance, a free credit report, budget and debt advice, assistance filing for student loans, and much more will be available. All services are free, so don’t miss out.

Win a Tesla and Support Garfield High School

Garfield SeattleGarfield Tesla Raffle Tickets have been on sale and they are nearing the limit of 1,850 tickets. Time is running out for your 1 (or more depending on your budget) in 1,850 chance to win a Tesla Model S Sedan which retails for $90,0000.  The tickets are $100 but we like the odds to win the car. The drawing is March 14th and you need NOT be present to win. If you win and don’t want the car you can take a $50,000 cashier’s check instead.

The raffle has been getting a lot of press, for example, King 5 News did a report on it.  So if you are interested then contact Garfield to buy a ticket.  We will be looking for you driving around Madrona after you win!