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!