The Madrona Real Estate market has remained steady this summer as compared to last year. The number of total sales are about equal: 19 sales in 2015 versus 20 sales for the same time period in 2016 (June through mid-August (when this was written)). What has changed in a year is the rise in sale prices. For example, the highest sales price in summer of 2015 was $1,650,000. This summer there are two sales over that amount, one home down on Lake Washington Boulevard sold for $3,500,000 and another on 36th Ave sold for $2,598,888. The median sales price was at $1,077,500, a $248,500 rise from July of 2015. In both 2015 and 2016, homes tend to sell for their list price or above.
Central Seattle real estate, which includes Madrona but also includes the area from the Montlake cut to I-90 and from Lake Washington to I-5, is showing signs of strengths. The median year-to-date sales price is up from $829,000 (July 2015) to $1,077,500 (2016), and the average year-to-date is up from $924,950 (July 2015) to $1,310,000 (2016). Thus, the strong real estate market is not only in Madrona but the surrounding areas as well.