Madrona & Leschi Real Estate Recap: November

Featured Leschi listing - 832 31st Ave. S - $1,250,000

Featured Leschi listing – 832 31st Ave. S – $1,250,000

November was a slow month for home sales in Madrona and Leschi with only 11 completed sales, down from 17 in October, but the median sales price for both neighborhoods combined was up an impressive 22 percent over the month, from $619,950 in October to $760,000 in November. On a yearly basis, median sales price was up nearly 10 percent.

Sellers continue to get good returns on their properties, with eight of the 11 homes sold selling for at or above listing price, and the highest list-to-sales-price ratio at 116 percent. It should be noted that three of the properties sold for asking price in Leschi were new-construction townhomes in the same development. Of the three properties that sold for below asking, the seller with the lowest list-to-sales price return still received 95 percent of their asking price. The most expensive sale of the month was a renovated 1909 home in Madrona that sold for $1,011,000; and the lowest sales price was $619,950 for one of the new construction town homes mentioned previously.

Currently there are 11 homes for sale in the two neighborhoods, with prices ranging from $735,000 for a classic Craftsman in Leschi to $2,880,000 for a “villa” style estate in Madrona.

If you are considering buying or selling a home in Madrona or Leschi, or if you would like more information about Seattle’s real estate market in general, please contact me!

Kristine Losh  |  206.953.6786  |  klosh@ewingandclark.com

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.

Featured Listing: 1801 33rd Avenue

Main photo for Madrona blogNow available in Madrona, this home is a testimonial to design and urban living. Built in 2005, this 3-bedroom, 3-bathroom home is set on a sunny corner lot and is filled with natural light from numerous windows. Designed with a sensitivity toward a contemporary lifestyle, this home offers an open floor plan, high ceilings, bamboo and hardwood floors, a chef’s kitchen, dining room, and a deck with a view that is perfect for entertaining. A multi-purpose room on the lower level offers plenty of additional space.

Located just blocks from Madrona’s main business district, you’ll be within walking distance of the coffee shops, restaurants, and shops that give the neighborhood its friendly character. Numerous parks are nearby, and the home is a short walk from Lake Washington and Madrona beach. Minutes from downtown, and a short jaunt to the Link Light Rail station for easy access to the airport.

For more information about this home or for a private showing, please contact listing agents Jane Powers and Betsy Terry at Ewing & Clark, Inc.