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.

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.


Cheer On Cyclists In The Obliteride Fundraiser On August 10

ObliterideLogo_rgbCyclists taking part in the 2nd annual Obliteride fundraiser benefiting the Fred Hutchinson Cancer Research Center will pedal down Lake Washington Boulevard through Madrona and Leschi as part of the 25-, 50-, 100-mile race routes on Sunday, August 10. Organizers are encouraging the community to come out and cheer on the riders as they make their way through the neighborhood, and are also suggesting that spectators make signs to display along the route honoring anyone they know who has been affected by cancer.

Participants in the ride commit to fundraising a set amount of money for each distance – $1,000 is the minimum – and 100 percent of funds raised will go to Fred Hutch and its efforts toward ending cancer. Last year’s event raised more than $2 million. Riders will start at Magnuson Park and head south on Lake Washington Boulevard, passing through Denny Blaine, Madrona, Leschi, Mount Baker, and on to Seward Park, so there is plenty of room for spectators to line the whole route along the lake. There is also a 150-mile ride that will take riders to Bainbridge Island and down the Kitsap Peninsula to Tacoma and back.

If you would prefer to ride instead of spectate, there is still time to register! Visit the Obliteride site to get all the details for registering, fundraising, and ride-day details. At the very least, head down to Lake Washington Boulevard on the 10th to give the riders some extra encouragement!

Leschi and Madrona Real Estate: Mixed Signals?

There are mixed signals in King County with average sales price up and average list price down but is the same true for Leschi and Madrona real estate?  According to the Northwest Multiple Listing Service (NWMLS), the average residential list price in King County is down from May 2013, while the average sales price has increased. The average residential list price last month was $792,925, down from $813,502 in May of 2013, while the average closed sales price was $541,294 up from $501,145 in 2013. There were 3,789 new residential listings that hit the market in May 2014 compared to 3,521 in 2013.  This recent uptick in inventory may be one of the factors causing the average asking price to decrease, but Madrona and Leschi does not seem to support this theory…

When looking at Central Seattle, the area that includes not only Madrona and Leschi real estate but homes for sale from Montlake, Madison Park, Madison Valley and Capitol Hill, the number of active residential listings are down from last May from 150 to 140 this May. As in the rest of King County, the average list price is also down from $1,746,083 to $1,609,493, but unlike King County the average sales price is also down in the area: dropping $975,857 to $784,780. Looking deeper in the numbers, last May was a exceptionally strong month for luxury home sales in Central Seattle.  Six homes sold in May 2013 for over $2,500,000 while there was zero sales for over $2,500,000 in May 2014.  Last May’s sales in Central Seattle are even more impressive considering there were only 17 sales over $2,500,000 for the entire year and six of them were in May.

Madrona Real Estate

Looking more specifically at Leschi and Madrona real estate, this year’s market seems to be gaining some momentum especially in the luxury market.  For example, in May Ewing & Clark Real Estate represented the seller in the highest sale in the combined Madrona & Leschi area for 2014.  The Madrona home pictured above sold for $1,625,000 this May which is one of the three sales since April for over $1,500,000 (2 in Madrona, 1 in Leschi).  Previously, there were no sales over that amount for the year.  Following are the statistics for the 2014 through the first five months:



Total Sales



Average List Price



Average Sales Price



Average Sales Price/List Price



Average Days on Market



If you are interested in seeing what is available in Leschi and Madrona, then click the link to see the available homes for sale or contact me for more information on the Leschi and Madrona real estate market.

Statistics in blog were gathered from the NWMLS, but the: Statistics not compiled or published by the Northwest Multiple Listing Service.

Leschi Art Walk Is Tomorrow June 14!


Leschi welcomes summer tomorrow with art, live music and children’s activities at its 3rd annual Leschi Art Walk, taking place on Lakeside Avenue between Yesler Way and Lake Washington Boulevard. Enjoy music from a jazz trio on the stage at Leschi Park and check out work from local artists including watercolors, jewelry, leather bags, glass art, and the vibrant, French-impressionist-inspired paintings of Seattle artist Art Messer.

The event runs from 11:00 a.m. to 4:00 p.m., giving you plenty of opportunity to work the Art Walk in to your Saturday plans. There couldn’t be a much more picturesque location for an art walk than the Leschi business district sitting right on the shore of Lake Washington, so come down and spend time with your neighbors and support our local artists. There will be kids activities, as well, so bring the whole family!

Also, click here for more info on Leschi-area artists!

Leschi Community Council Meeting Tomorrow, June 4


For those of you who may live closer to Leschi, join the Leschi Community Council at its monthly meeting tomorrow, June 4 at 7:00 p.m. at the Central Area Senior Center to discuss neighborhood issues. Here’s the agenda for tomorrow’s meeting:

  • Susan Chang, a geotechnical engineer for the Seattle Department of Transportation will discuss the Seattle Landslide Study and what is known about the Leschi hillside in relation to landslides.
  • Seattle Public Utilities will give an update on the sewage overflow project happening at the south marina in August.
  • Leschi Star Awards

In addition, there is a neighborhood work party at the Leschi Natural Area this Saturday, June 7 from 9:00 a.m. to 3:00 p.m. Meet at 36th and Terrace rain or shine. Gloves and lunch will be provided for all participants!