Leschi & Madrona Real Estate – Oct 2016

Madrona Real EstateLike the rest of Seattle, Leschi and Madrona real estate market continues to be very strong. This past month (October), Madrona had 4 sales and Leschi had 5 sales. While not a lot of sales, the details are interesting. For example, in Madrona on the corner of 35th and Pike, 1430 35th Ave sold for the second time in 16 months. In the summer of 2015, the traditional Seattle home was listed for $1,595,000 and sold above asking price: $1,650,000. In October 2016, it was listed for $1,750,000 and sold again for above list price: $1,895,000. Quite a difference a year makes! Overall, the 4 Madrona homes sold for an average of $1,134,500 and the Leschi homes sold for an average of nearly $1,086,000. Last October, Madrona saw 5 sales at an average of just over $684,000 and Leschi had a whopping 12 sales but at an average of $644,563. A couple sales can change the average quite a bit, for example Leschi had several small condos sell in October 2015, but nonetheless, I will say it again: what a difference a year makes!

We can see the change in prices looking at the greater area. The Central Seattle area (between I-90 and the Montlake Cut and I-5 and Lake Washington) saw the average price of homes up from October 2015 of $882,720 increase to $990,258 in October 2016 while condo prices rose from $507,567 last October to $593,872 in October this year. Inventory is tight, but that might not fully explain the prices changes since the number of sales of area’s homes decreased from 83 in October last year to 64 this year, whereas the number of condos sold rose from 52 to 79.

While prices of real estate in Madrona, Leschi and Central Seattle are significant, they are still dwarfed by other local areas. For example, the average price on Mercer Island this October was just under $1.5 million and the Bellevue area west of 405 was nearly $2 million. Nevertheless, Madrona and Leschi home prices are still higher than most of King County. The average price in King County for a home in October was $653,231 compared to $590,728 in October last year.

If you need help navigating the Seattle real estate market, we always suggest talking to a local Seattle real estate agent.

Annual Events!

 

Fall is here along with Leschi & Madrona annual events!

On Saturday September 10th, from 11am-4pm head down along Lake Washington Blvd and Leschi Park for the 5th Annual Leschi Street Fair & Art Walk! Live music, parade, kid activities, & much more! leschiartwalk.comleschi

On Saturday November 5th, from 6:30pm-8:30pm the Madrona Community Council will be holding their annual fundraiser at St.Therese Social Hall on 35th ! The MCC and Leschi Market will together hold a Wine Tasting, get tickets here -> http://brownpapertickets.com/event/2595083

Happy Fall, y’all! 

Google Comes to Seattle!

googlers

Even though school is out for the summer, Leschi Elementary stayed very busy this month! From getting the garden prepared for summer planting, to giving the walls a new coat of paint, and cataloging the fiction books in the library. With the help from some Googlers and Seattle Works, the school was able to make all their projects a reality.

GoogleServe volunteers assisted the summer school participants with weeding, churning compost into garden soil, building trellises, and making a sustainable water bottle irrigation system! The library is also in order after their visit. They have recorded the fiction books into to the school catalogue, making access to the library resources easier for teachers. The school is organized, cleaned, and repainted. What a perfect way to start the 2016 school year!

Googlers volunteer all year, but in June they celebrate collectively during GoogleServe to help their favorite organization. The volunteer campaign has done over 800 projects nation-wide just this year! They will make their way back to Seattle next year, serving the community with helping hands once again.

This Weekend in Madrona

 

All around Seattle neighborhoods will be celebrating the end of spring and start of summer! The Madrona Community Council will be hosting the Madrona Neighborhood Garage Sale and Bike and Ball Drive this Saturday! The garage sale descriptions and map are available on Craigslist, Madrona Moms, and Nextdoor. You can also get a paper addition at Verite on June 17th and 18th.

The Bike and Ball drive is the perfect way to finish off spring cleaning! Rid your garage of all bikes, bike parts, and soccer or basketballs that aren’t being used. The event will take place at the Madrona Playfield from 10am-1pm. Bike Works is a 501(c)(3) non-profit organization in need of bikes in good condition, including 20” wheel BMX style bikes, 24” and 26” wheel mountain bikes, and road bikes of any size. Didi Burpee will be collecting soccer and basketballs to donate to Seattle’s World School.

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 and Leschi Real Estate Recap – October

Featured listing - 3505 E Olive St. - $1,875,000

Featured listing – 3505 E Olive St. – $1,875,000

Real estate activity in Madrona took an interesting turn in October, with sales activity up from September but average sales price down by 37 percent. There were five sales of single-family homes in Madrona in October, compared to just two in September, but October’s average sales price was $684,800, down from $942,000 in September. Leschi saw 12 completed sales in October at an average sales price of $644,562, down from $934,265 in September. Sales activity for the two neighborhoods was consistent on a yearly basis, with just one fewer sale this year (17) than October 2014 (18). But average prices in the two neighborhoods combined were down over the year, with the 2015 average at $656,397 compared to the 2014 average of $753,379.

However, owing to relatively small sample sizes, numbers for these two neighborhoods are easily skewed by the addition of one or two high- or low-priced sales, meaning average prices are sometimes not accurate representations of the neighborhoods’ markets as a whole. The area’s market remains strong, with 13 of the 17 properties sold selling for at or above listing price, and the highest list-to-sales price ratio at 129.93 percent for a classic 1921 home in Madrona.

Currently there are 21 active listings in Madrona and Leschi combined, with prices ranging from a low of $615,000 for a single-family home in Leschi, to a high of $5,895,000 for a lakefront contemporary home in Leschi.

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

Please feel free to contact me if you would like to further discuss the Madrona and Leschi real estate markets, or if you would like a complimentary price estimate of your home.

Kristine Losh, Ewing & Clark, Inc.

Leschi & Madrona Real Estate Recap: September

Featured Home - 832 31st Avenue South, Leschi

Featured Home – 832 31st Avenue South, Leschi
                  Click on the image for more information

Though the Leschi and Madrona real estate markets don’t typically see high volumes of home sales per month, Madrona saw even fewer home sales than normal in September. The neighborhood only saw two completed sales of single-family homes last month, down from 11 in August, though prices remained high with an average sales price of $942,000. Leschi real estate, in comparison, saw 12 completed sales in September at an average sales price of $934,265. The combined 14 sales in the two neighborhoods represented a slight decrease over the year, with 18 homes sold during the same period in 2014, but despite the seeming slowdown, average sales prices are up over the year. The combined average in 2014 was $705,994, compared to $935,370 in 2015.

Among the 14 total sales in both neighborhoods, prices ranged from $599,950 for a new-construction modern town home on the west edge of Leschi; to $1,612,500 for a renovated modern home perched above Lake Washington, also in Leschi. Eight homes sold at or above listing price, with the highest sales-to-list-price ratio at 116.2 percent for a classic 1906 Foursquare home in Leschi. There were no condo sales in either Leschi or Madrona in September.

Currently, there are 11 active Madrona home listings, with prices ranging from $599,000 to $2,795,000; and 18 active listings in Leschi, with prices ranging from $525,000 to $5,895,000.

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

Please feel free to contact me if you would like a complimentary price estimate of your home, or for advice on buying or selling a home in Leschi or Madrona. Click here to see what’s currently available in the area!

Kristine Losh, Ewing & Clark, Inc.

Neighborhood Events In Leschi This Weekend

Washington Park1It’s all about plants in Leschi this weekend! Two events on the calendar will give you a chance to get outside, get your hands dirty, and enjoy the neighborhood’s greenery.

 

 

Saturday, September 12: Leschi Tree Walk, 9:00 – 11:00 a.m.

As part of the City of Seattle’s reLeaf program, a tree ambassador will guide participants on a “tree walk” to learn about Leschi’s urban forest and learn about how trees contribute to our quality of life. Meet outside Leschi Elementary a little before 9:00 a.m.

Sunday, September 13: Leschi Triangle Work Party, 9:00 a.m. – 12:00 p.m.

Join your neighbors at 35th Avenue South and South Lane Street to pull weeds, improve visibility, and clean up the traffic triangle. Tools, gloves, and instruction will be provided!

Hope to see some of you at one or both of these events!

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

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.