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.

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. 

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!

Madrona & Leschi Real Estate Recap: November

Featured Leschi listing - 832 31st Ave. S - $1,250,000

Featured Leschi listing – 832 31st Ave. S – $1,250,000

November was a slow month for home sales in Madrona and Leschi with only 11 completed sales, down from 17 in October, but the median sales price for both neighborhoods combined was up an impressive 22 percent over the month, from $619,950 in October to $760,000 in November. On a yearly basis, median sales price was up nearly 10 percent.

Sellers continue to get good returns on their properties, with eight of the 11 homes sold selling for at or above listing price, and the highest list-to-sales-price ratio at 116 percent. It should be noted that three of the properties sold for asking price in Leschi were new-construction townhomes in the same development. Of the three properties that sold for below asking, the seller with the lowest list-to-sales price return still received 95 percent of their asking price. The most expensive sale of the month was a renovated 1909 home in Madrona that sold for $1,011,000; and the lowest sales price was $619,950 for one of the new construction town homes mentioned previously.

Currently there are 11 homes for sale in the two neighborhoods, with prices ranging from $735,000 for a classic Craftsman in Leschi to $2,880,000 for a “villa” style estate in Madrona.

If you are considering buying or selling a home in Madrona or Leschi, or if you would like more information about Seattle’s real estate market in general, please contact me!

Kristine Losh  |  206.953.6786  |  klosh@ewingandclark.com

Featured Listing: Cool Madrona Contemporary

3505 E Olive Madrona Edited This impeccable architect-designed Madrona home features more than 4,000 square feet of sophisticated living space:  4 bedrooms and 3.5 baths in the main house, plus a renovated classic carriage house with an additional bed and bath. Featured in Seattle Met magazine in 2009, this home has 10-foot ceilings, windows everywhere, and spectacular finishes throughout. A gourmet chef’s kitchen and large dining room lead to a glamorous living room with a cozy fireplace. Vaulted ceilings upstairs give the bedrooms an airy feel, and additional loft areas provide play space or storage. The 1,300-square-foot carriage house, built in 1901 and updated in 2015, provides amazing live-work space or could serve as an Airbnb or rental property. A private fenced yard, outdoor living space, play area, and mature gardens complete this gorgeous piece of property.

For more information or for a private showing of this spectacular home, contact listing agents Dan Gottesman and Sam Chapin.

Featured Listing: 1801 33rd Avenue

Main photo for Madrona blogNow available in Madrona, this home is a testimonial to design and urban living. Built in 2005, this 3-bedroom, 3-bathroom home is set on a sunny corner lot and is filled with natural light from numerous windows. Designed with a sensitivity toward a contemporary lifestyle, this home offers an open floor plan, high ceilings, bamboo and hardwood floors, a chef’s kitchen, dining room, and a deck with a view that is perfect for entertaining. A multi-purpose room on the lower level offers plenty of additional space.

Located just blocks from Madrona’s main business district, you’ll be within walking distance of the coffee shops, restaurants, and shops that give the neighborhood its friendly character. Numerous parks are nearby, and the home is a short walk from Lake Washington and Madrona beach. Minutes from downtown, and a short jaunt to the Link Light Rail station for easy access to the airport.

For more information about this home or for a private showing, please contact listing agents Jane Powers and Betsy Terry at Ewing & Clark, Inc.

Featured Home: Views In Leschi

832 31st Main CroppedThis extraordinary shingled home is now available for purchase in Leschi! Set well off the street, this home enjoys panoramic views of Lake Washington and the Cascade Mountains. Inside, dramatic beamed cathedral ceilings and an open-concept floor plan allow plentiful natural light. Lovely indoor-outdoor spaces include a sun room with glass doors opening to a large view deck, and garden access. The kitchen features granite counter tops and ample cupboards, and looks out onto spacious living and dining rooms. Upstairs laundry room and lower-level mother-in-law space. A two-car garage is accessed from the main floor – a rarity in this convenient city location. Just blocks from Frink and Leschi parks, and a short distance from the waterfront Leschi business district offering groceries, shopping, and dining. For more information about this wonderful home, contact listing agents Jane Powers and Betsy Terry.

832 31st Avenue South

Bedrooms: 3 | Bathrooms: 3.25 | Sq Ft.: 3,159

Available for $1,395,000

832 31st View Cropped

832 31st Living Cropped

Music in Madrona Summer Concert Series

Every Thursday during the month of August, the Madrona Community Council and Ewing & Clark will host a free concert series starting at 6pm in the Madrona Playfield.

This is an great way to soak up these lovely summer evenings and really take advantage of the wonderful weather we are getting. Grab a blanket, pack a picnic and come unwind to the tunes of Seattle’s most talented musicians.

cropped-Music-in-Madrona-FB1.jpg

Series Line Up:

August 6thAzanga Marimba, Check out this awesome and lively African marimba one of their performances here

“Our ensemble plays using eight marimbas – three Sopranos, three tenors, a baritone, and a base – and hoshos, or gourd shakers. The marimbas are handcrafted xylophones made from various hardwoods. The keys are fine-tuned to reflect tones playing African societies. Each key sits above a resonator with a vibrating membrane to amplify the sound and add a unique “buzz” to the music.”

August 13th – Lucile Street

A five person band that includes Christopher Magee on trombone, Mark Aaron on bass, Damien Garcia on drums, Peter O’Neil on guitar, and featuring Becky Lewis on vocals.

August 20thAlkali Earth, youth metal band from Washington Middle School

“Formed in 4th grade in 2013, Alkali Earth consists of four pre-teens with a passion for 80’s thrash metal and its predecessors. In addition to covers from Rush, Iron Maiden, Metallica, Black Sabbath and the like, they play a few original songs, loosely focused on what their parents are currently doing to the planet.”

You can hear more of their great tracks here

August 27th – The Professors – SPU Professors (& Betsy Erving’s owner of the Arts Aloft’s, husband) featuring 60’s rock and roll.

These professions are going to teach you a thing or two about good old rock ‘n roll. You’re homework assignment for the evening…. boogie!

strum

Leschi and Madrona Real Estate Report

Madrona Real EstateSeattle real estate prices are at record highs for September as discussed below, and Leschi and Madrona real estate continue to be very strong as well.  In September Leschi had 11 sales close while Madrona had 7, both we more than the previous September where there were 9 and 6 sales respectively.  But what is more impressive is the average price of the homes that have sold.  Comparing this and last September, Leschi homes average sale price jumped to $676,536 up from $601,765 while Madrona improved to a whopping $870,857 compared to $587,500 in the previous year.  As always these closed sales have to be taken with a grain of salt since the number of sales are low enough that one or two sales can distort the average, but still the numbers are hard to ignore especially when considered with the overall Seattle and King County market.

The median price of a single-family home in King County in September was $460,000, almost 10 percent higher than a year ago and 5.3 percent higher than August’s median price.  According to the Northwest Multiple Listing Service, these stats indicate the best September for home prices in at least 10 years! The city of Seattle performed the best of all the sub-markets in King County in September, with the median price having risen to $517,000, 12 percent higher than September 2013. While the median price on the Eastside was higher than Seattle’s at $605,000, yearly appreciation was slower at only 6.3 percent.

While numbers were gathered from the Northwest Multiple listing Service; Statistics not compiled or published by the Northwest Multiple Listing Service.

Feel free to contact me if you want a complimentary price opinion of your home:  Kristine Losh, Ewing & Clark Real Estate or check out the link to see what’s currently available in the Madrona / Leschi area.

Leschi and Madrona Real Estate: Prices Skyrocketing

Madrona Real Estate

Madrona real estate sales have doubled from last July (16 vs 8 sales).  While the days on market have slightly increased by 2 days (21 vs 23 days) the Madrona homes are selling for much more than last year.  The average sales price this July was $890,337 vs $703,125 last July.  Both this July and last July homes on average sold for more than asking price.  The above pictured Madrona Home sold in 6 days for over asking price.

The number of Leschi real estate sales is fairly even with last year (7 vs 6 sales), but again the average sale price dwarfs last year’s average sales price.  Leschi homes this July sold on average for $953,000 versus $681,214 the previous July.  Unlike Madrona, houses are selling at a scorching pace.  The average days on market for Leschi is 7 days which is down significantly from 26 days last July.

Both Madrona real estate market and Leschi real estate market have small sample size so the statistics have to be tempered because a few sales can make a huge difference.  Looking at the Central Seattle residential real estate market (east of I-5 to the lake; south of the Montlake Cut to I-90) the number of sales only increased by one compared to last July (91 vs 92 sales) and the average sales price increased minimally from $855,163 to $867,652.  Even with this additional information, it is hard to ignore the recent Leschi home sales and the Madrona home sales.

While numbers were gathered from the Northwest Multiple listing Service; Statistics not compiled or published by the Northwest Multiple Listing Service.

Feel free to contact me if you want a complimentary price opinion of your home:  Kristine Losh, Ewing & Clark Real Estate or check out the link to see what’s currently available in the Madrona / Leschi area.