Madrona Real Estate Market – May 2017

The Madrona real estate market hasn’t changed drastically compared to last May (2016). Reports show the same amount in sales and only a small increase in the average median list price, $1,090,595(2016) to $1,110,400 (2017). Homes stayed on the market for an average of 66 days last month. Last May homes were only on the market for an average of 8 days. There are currently 8 active listings and 6 pending.

The neighborhood next door, Leschi, is showing a great amount of growth in the market compared to last year. Though there were 3 less sales than last May, the median sales price has gone up from $765,000 (May 2016) to $1,024,950 (May 2017). The lowest cost of a home has jumped nearly 93% from last May, numbers climbed from $425,000 to $819,950. Two of the sales last month were condo sales, one sold for $259,950 and the other sold for $1,995,000. There are currently 12 active listings and 12 pending in the Leschi neighborhood.

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 five months are down with 705 sold versus 715 sold in 2016. Currently in the central Seattle area there are 141 active listings for sale and rent.

If you have any questions about the Seattle real estate market, please feel free to reach out to a local Seattle real estate agent.

Photos Above :

New rental listing in the Madrona neighborhood! 

728 36th Ave, Seattle

Beautifully remodeled tudor on one of Madrona's most desirable streets.
Amazing 180 degree views of Lake Washington, Cascades, Rainier.
Master suite + 2 additional beds and 1 bath up. Gorgeous cooks kitchen
with stainless appliances and built in eating area. 2-car attached 
garage off alley.

Available for $6,000 a month. Contact Kristine Losh for further details
or click here!

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.