The Madrona real estate market featured two sales this past February. The number is not that unusual since there have only been six (2013), three (2012), and two (2011) sales in Madrona the previous three years in February. This year’s sales totaled just $725,000 which was impressively $1,000 more than the combined list price. One house sold for $450,000 while it was listed for $449,000 and the other property, a 915 square foot home on MLK Way, sold for the list price of $275,000.
The Leschi real estate market had four residential sales this February. That number is a little better than usual since there have only been five (2013), three (2012), and one (2011) sales in Leschi over the previous three years in February. This year’s sales totaled $2,018,500 with the highest sale being $920,000 for a home on Lake Washington Blvd across from the Leschi Sailboat Marina.
Central Seattle real estate, which basically includes the area from the Montlake Cut to I-90 and from Lake Washington to I-5, is showing signs of strength. While the median year-to-date sales price is down from $619,000 to $577,475, the average year-to-date sales price is actually up from $729,042 to $736,659. In addition, year-to-date sales for the first two months are up with 88 sales in 2014 versus 79 sales in 2013. Inventory is also tighter than last year down from 128 to 93 active listings in the month of February.
If you have any questions about the Seattle real estate market, please feel to reach out to me: Kristine Losh.