Leschi & Madrona Real Estate Report

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.

Leschi Home

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.

Madrona Real Estate Market at an All-Time High

Madrona Real EstateThe Madrona real estate market (picture above: Madrona home for sale) like most of Seattle has improved greatly over the last two years.  While the Seattle real estate market has improved, Seattle area homes are still only up to what the real estate prices were in 2006 (with mid-2007 being the peak).  According to the most recent Case-Schiller index, Seattle area prices are just over 160 for the home price index while in the summer of 2007 the home price index was over 192.  Since the index puts prices at the beginning of 2000 at 100, that means the Seattle home values nearly doubled from 2000 to 2007 before the real estate market bubble burst.  Prices in February 2012, saw the post-bubble low with a home price index of 129 before the local real estate values started to recover.

I wrote a blog back in March 2012 about the Madrona real estate market and the flaws of Case-Shiller.  One of the bigger flaws is Case-Shiller defines “Seattle” as King, Snohomish and Pierce counties which does not tell the story about Madrona real estate.  In fact, in a recent Seattle Times article it discussed the strength of Central Seattle’s real estate market and noted that we can say something that no other area in “Seattle” can say:

Central Seattle, which includes Capitol Hill, Washington Park and Madrona, is the only area where the 2013 median price — $619,000 — surpassed the level set during the 2007 housing bubble and saw a new high.

So while Case-Shiller index still shows Seattle prices as below 2007 prices, it does not show that Madrona homes are really selling for more than they ever have.

If you want to know what your house is worth, I am happy to prepare a market analysis for you.  Please feel to reach out to me through my company website: Kristine Losh.

Leschi Real EstatePictured Above: Leschi Home for Sale across from Madrona Park

 

Madrona Home for Sale

Madrona HomeCharming Madrona traditional home with circular floor plan, spacious rooms, ample natural light, and fir floors throughout. The home, built in 1906, has had extensive system updates including air conditioning, tankless water heater, and a new electrical panel. The first floor includes formal entry, open living and dining room, kitchen, and utility room.  Upstairs features three bedrooms with peek-a-boo view of mountains and lake from the master. The lower level has two additional bedrooms, full bath, second laundry, second kitchen, and a separate entrance to the backyard. The home sits on a street to street lot with two car garage and ample yard. The house is perfectly located; a short distance to Lake Washington and Madrona Park as well as to the Madrona restaurant and shops.  Let me know if you want to see this great piece of real estate: Kristine Losh.

Status
Home for Sale
List   Price $749,000
Bed/Bath 5/2

 

Madrona Home Available for $1,785,000

Madrona Real Estate 3Madrona real estate has some of Seattle’s most beautiful settings and this Madrona home takes advantage of it.  This impeccable 2001 built craftsman home of stalwart construction sits on Columbia Street high above 37th Avenue where the open floor plan maximizes the views of Lake Washington and Cascade Mountains. Below the main floor is a light-filled recreation room, office and bedroom suite. Upstairs the second floor has three bedrooms including a luxurious master suite with balcony, view bath, walk-in closet and vaulted ceilings. Continue to the third floor to a crow’s nest office. Outside the landscaping includes mature plantings, level lawn and an awesome tree-house designed by world famous Peter Nelson.

Click the link to learn more about this Madrona home or contact me and I will be happy to tell you more.

Status
Home for Sale
List   Price $1,785,000
Bed/Bath 4/3.25

 

Open House in Madrona this Weekend

madronaLooking to live in the Madrona neighborhood?  You have two chances to see this lovely Madrona home this weekend.  The home is open on both Saturday (2PM to 4 PM) and Sunday (1PM to 4 PM).  The home features territorial views, a bright kitchen, and three bedrooms and three baths. The home has an easily maintainable yard, including a functional garden and entertainment area.  This Madrona real estate is perfectly placed on a quiet neighborhood corner but at the same time located a short distance to Madrona’s popular retail shopping district and restaurants. The home is in close proximity to some of Madrona’s local favorites such as Pritty Boys Pizzeria, Hi Spot Cafe, and Madrona Playground.

Status: For Sale – Open House Sat & Sun
Bed/Bath: 3/2.5
Price: $599,950

Madrona Real Estate Market Update

There has been many articles about the improving real estate market not only in Seattle but also across the country.  Looking at the numbers, the Madrona real estate market is following the same trend.  According to the Northwest Multiple Listing Service through Friday, April 19th, there has been 20 home sales including 3 sales over one million dollars in Madrona in 2013.  In the same time period in 2012, there were 13 home sales and only one sale over one million dollars in Madrona.  Obviously, the number of homes sales has improved in 2013, but most other statistics are much better as well.  For example, Madrona homes in 2013 have sold after being on the market for 41 days compared to 109 days in 2012.  In addition, Madrona homes are selling for more compared to the original asking price.  Over half of the homes in 2013 have sold for more than asking price including 2 out of 3 of the homes that sold over $1 million dollars.

The Madrona real estate market is strong with more homes selling, properties selling faster, and for more money.  If you are curious about the Madrona real estate market, ask me about it when you see me in the neighborhood or feel free to contact me sooner.

Madrona Home Sales

Madrona Real Estate Sales are Heating Up

Seattle real estate has been strong this year but I have noticed an uptick on Madrona home sales this last month or two.  The Madrona neighborhood has had 31 sales so far this year, but there are 13 homes pending in Madrona right now.  If all of the current pending homes close before the year-end, Madrona real estate will see nearly 30% of the year’s home sales close in the last month and a half of the year.  That is impressive especially since November and December are traditionally slow months for closings in the Seattle real estate market.  To make the 13 pending homes even more impressive is almost half of them (6) went under contract within 2 weeks of being on the market and many of those had multiple offers.  For example, another real estate agent at Ewing and Clark, Vincent Mullally, had a Madrona home for sale on 32nd Ave near Cherry that went pending after 7 days on the market with multiple parties interested in the home.  In addition, I recently had a Madison Valley home for sale just on the other side of Martin Luther King Jr Way.  That home also had multiple parties interested and that home went pending after being on the market for 8 days.

The Madrona real estate market is defintely strong right now.  If you want to learn more, then feel free to contact me, Kristine Losh, with any real estate question.  I can assist you in finding a Madrona home to purchase, selling your current home, or finding you a local Seattle rental.

Madrona This Weekend

A few things going on this weekend in Madrona.

Saturday night is the Madrona Wine Event.  Click the previous link for more details, but it should be a fun event.  You can buy tickets online but there will also be tickets available at the door.  The Madrona Wine Event will be at Glassybaby from 6:30 to 9:30 PM (Saturday).

Sunday is open gym at Madrona K-8 for kids 6 and under.  Click the link for more details, but it will be fun for the kids to run around and allow parents to get a better look at the Madrona school if you are undecided on where your little ones will be going for grade school.

Madrona HomeFinally, a shameless plug for my open house I am having on Sunday from 2-4 PM.  If you are shopping for real estate in Madrona, come by and check out my listing on the corner of 31st and Olive.  It is a fabulous brick house with territorial views of Husky Stadium and beyond.  Come and see the home or to ask me about Madrona real estate and the overall Seattle real estate market.

Madison Valley Home – Open House Sunday 1-4 PM

Madrona Home

Beautiful, sunny Madison Valley home just came on the market yesterday and will be held open to the public Sunday, October 21st, from 1 to 4 PM.  The home is situated on a corner lot with expansive territorial views of Madison Valley and Madrona.  The fenced yard has lovely terrraced gardens with dining and entertaining spaces. Conveniently located minutes to Madrona, Capitol Hill, Lake Washington, and Downtown Seattle. Interior details include crown molding, oak floors, art tiled fireplace, built in cabinetry and lots of storage. Large eat in kitchen with stainless appliances, white quartz countertops and recessed lighting. New plumbing, electrical systems. Roof, furnace & water heater new in 2010.

Come by tomorrow to see this great Madison Valley home and/or to ask about the local real estate market for Madrona, Madison Valley, Leschi, etc.

Address: 2621 E Pine St
Open House: Sunday (10/21), 1-4PM
Bed/Bath:  4/2
List Price: $429,950

 

Madrona Corner Lot Home For Sale: $639,000

This lovely Madrona must see corner lot home invites an abundance of natural light, which warms the home throughout. The home has newly refinished hardwoods  on the main floor, territorial views, and the bright kitchen has Marmoleum, with three bedrooms and 3 baths. The home has an easily maintainable yard, including a functional garden and entertainment area. The lower level of the house is completely finished with brand new carpeting, and is located a short distance to Madrona’s popular retail shopping district, and restaurants. The home is in close proximity to some of Madrona’s local favorites such as Pritty Boys Pizzeria, and Hi Spot Cafe, and Madrona Park on the waterfront. For more information about this listing, visit Ewing & Clark Inc.

Status: For Sale
Bed/Bath: 3/2.5
Price: $639,000