Madison Park Times RE 03-01-21

MARCH 2021

Madison Park Times

Serving East-Central Seattle since 1983

Real Estate

MADISON PARK - WASHINGTON PARK - MADISON VALLEY - DENNY-BLAINE - MADRONA - LESCHI www .M adison P ark T imes . com

A seller’s market

Real Estate Overview Appraiser Short (6)

Status

T

o say that this home to buy, many is an unprecsellers are staying edented real put, resulting in a estate market would be cycle that perpetua massive understateates the low-inment. For most of us ventory dilemma. veterans of the Seattle If there was ever real estate scene, this is a “seller’s market,” like nothing we have this is it. As new ever witnessed. listings come on the We did not exmarket, they are imperience the typical mediately scooped Tim Wyman seasonal slowdown up by a plethora of Property Views associated with the waiting buyers. holidays, and there The market is was no new year lull moving fast, and — 2021 is off to a roaring start. In staying on top of current statistics the first nearly two months of the and trends is important if buying year, sales volume in 98112 has in- or selling a home is in your future. creased 76 percent over the same Let’s dig into the most recent period a year ago, and the average numbers: sales price is up nearly 51 percent (the majority of that increase is in For Denny Blaine, Broadmoor, homes under $2 million.)

Washington/Madison Park Sparse inventory and low inter2021 through Feb. 22: est rates are the biggest drivers of our current market. Without a SEE PROPERTY, Page 7

Address

Zip Code Year Built Square Footage Lot Size - Acres CDOM Bedrooms Bathrooms Community

Original Price Selling Price

Pending 1810 43rd Ave E #302

98112

1964

354

0.456

50

0

1 Madison Park

325000

Pending 1800 43RD Ave E #A103

98112

1964

595

0.456

10

1

1 Madison Park

474950

0.024

Pending 1921 42nd Ave E #D

98112

2000

1040

Pending 1921 42nd Ave E #D

98112

2000

1040

Pending 1810 43rd Ave E #203

98112

1964

986

Pending 826 31st Ave E

98112

1913

2840

0.091

2

1

1.5 Madison Park

590000

2

1

1.5 Madison Park

590000

93

2

2 Madison Park

680000

5

3

1.75 Washington Park

1050000

Pending 2330 43rd Ave E #400B

98112

1968

1531

1.142

1

3

1.75 Madison Park

1325000

Pending 111 34th Ave E

98122

1951

3080

0.13

5

5

3.75 Denny Blaine

1795000

Pending 1220 42nd Ave E

98112

1908

2320

0.22

41

3

2.25 Washington Park

2395000

Pending 1100 Shenandoah Dr E

98112

1940

3800

0.26

95

4

3.25 Broadmoor

2500000

Pending 2068 42nd Ave E

98112

1994

2794

0.102

7

4

Pending 3316 E Republican St

98112

2021

4091

0.117

1

6

4 Washington Park

2389950

Pending 3320 E Republican St

98112

2021

4141

0.117

25

6

4 Washington Park

2409950

3.5 Madison Park

2200000

Pending 3001 E Denny Wy

98122

2021

3585

0.101

43

4

Pending 3724 E Highland Dr

98112

1925

3784

0.165

117

3

Sold

2040 43rd Ave E #314

98112

1961

553

105

Sold

2914 E Madison St #210

98112

2008

849

0.298

126

Sold

2360 43rd Ave E #207

98112

1966

1025

1.501

Sold

2020 42nd Ave E

98112

1985

1550

Sold

3301 E John St

98112

2004

Sold

1615 40th Ave

98122

1947

Sold

3344 E Republican St

98112

2015

Sold

1671 Broadmoor Dr E

98112

1948

4564

0.154

8

3

Sold

1624 39th Ave E

98112

2005

3560

0.083

17

4

Sold

317 36th Ave E

98112

1930

3720

0.266

81

Sold

116 37th Ave E

98122

1947

3859

0.12

7

Sold

2215 40th Ave E

98112

1964

3040

0.207

Sold

3823 E McGilvra St

98112

1959

3420

Sold

1649 Shenandoah Dr E

98112

1928

4728

Sold

1529 38th Ave E

98112

2011

5720

0.165

43

5

4.5 Madison Park

3795000

3235000

Sold

1427 39th Ave E

98112

1926

4420

0.165

84

5

4.75 Madison Park

4195000

3800000

Sold

1019 39th Ave E

98112

1995

3930

0.254

73

4

5000000

4625000

4 Denny Blaine

2449900

2.5 Washington Park

2850000

1

1 Madison Park

450000

440000

1

1.5 Madison Park

699950

695000

107

2

2 Madison Park

789000

740000

0.083

65

2

1.75 Madison Park

1385000

1240000

3720

0.092

130

3

3.25 Denny Blaine

2150000

1695000

3200

0.092

8

3

2 Denny Blaine

1945000

1945000

3660

0.078

110

5

1995000

1995000

3.5 Washington Park 3.75 Broadmoor

2195000

2000000

3.5 Madison Park

2298000

2198538.65

4

3 Denny Blaine

2698000

2400000

3

3.5 Denny Blaine

2600000

2600000

5

4

2.25 Madison Park

2595000

2722000

0.194

8

3

2.25 Madison Park

2875000

2825000

0.2

263

4

4 Broadmoor

3450000

2900000

3 Washington Park

JUST SOLD

by Lisa Turnure Real Estate

Once-in-a-lifetime opportunity to secure a long term lease in the only private residence atop Seattle’s iconic Smith Tower.

Price upon request

MOIRA E. HOLLEY moirα@moirαpresents.com 206.612.5771 moirαpresents.com

To see my active listings and other recent sales, please visit lisaturnure.com.

“Hands down Lisa Turnure is an outstanding realtor. She helped us sell both of our homes. Each sold in just four days. The homes were well represented with amazing pictures and videos. Lisa’s excellent communication skills, thoroughness to details and genuine concern are just some of the qualities that make her the professional that she is.”

Ralph & Lisa Broadmoor and North Beach

206.919.6605 | lisaturnure@cbbain.com | lisaturnure.com EXPERIENCED. INNOVATIVE. TRUSTED.

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MARCH 2021

The superplants we need now

trees know if they’ve been he world of plants is as grazed by a deer, due to vast, and in some respects, the telltale saliva, or had as uncharted as the ocean a branch broken by acfloor. We have cultivated them cident. In the first case, for thousands of years as food they whip up a chemical and medicine; we’ve shaped them cocktail that makes their through selection and breeding, leaves taste terrible. In the but we are only now discovering second, they begin healing. some rather amazing physical My first thought was: Do abilities they have. You might call humans have such a healing them superpowers. response, and can we natuRecent research has shown Erica Grivas rally trigger it? that plants can communicate.

Get Growing A plant attacked by They warn neighboring plants of a predator will mount predator or drought, they share a chemical defense to resources, form inter-species alliances, and species like sunflowers and black strengthen itself, similar to an immune walnut trees even attack competitors. When response. In one experiment, some bean a species is grown in a grove, elder trees will plants were allowed to form such a network, and some were not. When predatory send nutrients to saplings, who don’t yet aphids were added to a few plants, the ones have the leaf mass to photosynthesize. in networks formed the chemical response.

The youngsters may even remember, or The ones without networks did not. Reat least respond in unison. Peter Wohllesearchers suggested that this could be used ben, author of the sleeper best-selling book to trigger responses only as needed, without “The Hidden Life of Trees,” tells a story of over-stressing the plants continually, as can a beech tree stump he found in a German happen with plants genetically modified to forest. The rings marking the massive girth resist an insect or disease, which triggers indicated it had been felled at least 400 that stress response 24/7. years ago.

“Super plants” for climate change Yet when Wohlleben scratched the We’ve known about plants’ ability to surface, green chlorophyll glinted through.

His conclusion: The surrounding trees were remove toxins from the air — thus those “top air-cleaning houseplant lists” online care-taking this forest elder. based on a 30-year-old NASA study that, Plants have had internet tech for millenunfortunately, doesn’t really extrapolate nia before the dotcom boom — an unto home living. Your bedside snake plant derground webby network of mycorrhizal fungi — through which they send chemical will de-stress you, but it’s questionable whether it will convert your apartment into signals of stress or well-being. an alpine meadow. However, a new study One study out of Germany indicates

from Britain’s Royal Horticultural Society shows one plant that may become the carbon-fixing future of our urban centers and highways.

The study, reported this month in The Guardian.com, compared the ability of various shrubs to absorb air pollution, including hawthorn, cotoneaster and red cedar. The hairy cotoneaster — a prickly, dense shrub with glossy leaves and red berries — was 20 percent more effective than the others, to the point that in seven days, a 3-foot dense hedge would “mop up the same amount of pollution a car emits over a 500-mile drive,” according to the lead researcher.

The RHS director of science and collections said they are investigating more of these “super plants” to answer the challenges of climate change, from ivy walls cooling buildings to hedges of privet and hawthorn used to disperse heavy rains and reduce flooding.

A better pothos?

Meanwhile, here at the University of Washington, researchers are trying to engineer plants to be better air cleaners, by taking the popular pothos houseplant and injecting it with a protein from mammalian livers — because it’s the same type of protein we use to break down alcohol. Hmmm.

Emails from spinach An emerging field of study called nanobionics involves using plants’ ability to photosynthesize to turn them into living imaging systems, self-powered light sources and infrared communication devices.

Nanoparticles inserted into the plant’s cellular structures accomplish these transfor-

mations. A recently published nanobionic experiment revealed spinach plants altered to become email-sending bomb detectors!

The plants, naturally able to detect certain chemicals in the ground, now set off a sensor, which triggered an e-mail.

As in all scientific expansion, the possibilities as to how we use our newfound knowledge are limitless, but we have a responsibility to consider the consequences.

Do we use the plants as a Band-aid for our car pollution, or do we preserve more carfree space and plant more trees? Will we learn from plant’s technologies or simply exploit them?

Further reading: https://www.theguardian.com/ science/2018/may/02/plantstalk-to-each-other-through-theirroots#:~:text=Plants%20use%20their%20 roots%20to,own%20unique%20forms%20 of%20communication.&text=%E2%80%9CPlants%20can’t%20do%20that. https://www.bbc.com/news/science-environment-22462855 https://www.nationalgeographic.com/science/article/houseplants-dont-purify-indoor-air#:~:text=New%20research%2C%20 however%2C%20continues%20to,the%20 air%20in%20your%20home.&text=It’s%20 a%20myth%20you%20almost,study%20 the%20air%20we%20breathe https://www.smithsonianmag.com/sciencenature/the-whispering-trees-180968084/ https://pubs.acs.org/doi/10.1021/acs. est.8b04811 https://link.springer.com/chapter/10.1007/978-3-319-68717-9_14

WASHINGTON PARK/1231 42nd Ave E Active $2,895,000 With over 31 years of real estate experience, we would love be your real estate experts when it comes to marketing your home and purchasing a new home . We are excited to talk with you about your options!

KATHRYN HINDS Windermere Madison Park 206•650•6488 KATHRYNHINDS@COMCAST.NET KATHRYNHINDS.WTHWRE.COM

TAYLOR HINDS Windermere Madison Park 206•434•5102

719 Harvard Ave E: Pending $2,695,000 2540 39th Ave E Lot #5: Pending $1,550,000 819 Hillside Dr E: Sold $2,735,000

TAYLORHINDS@WINDERMERE.COM TAYLORHINDS.WTHWRE.COM

Pacific Publishing Company – Queen Anne & Magnolia News • Madison Park Times • City Living Seattle

MARCH 2021

3

SEATTLE’S QUINTESSENTIAL PENTHOUSE

1301 Spring Street, PH32 | 4 bedrooms, 5 baths | $13,500,000 | MLS #1733279

Seattle’s renowned 7,000 square foot Penthouse on First Hill is available for the first time following a complete, to-the-studs, award-winning three year renovation by a teams of Seattle’s top architects, interior designers, and contractors. Encompassing the entire 32nd floor of one of Seattle’s most luxurious high-rise condominiums, the Penthouse is Seattle’s highest residential peak and features floor-to-ceiling 360 degree panoramic views of the entire city.

KITTY HUGHES Global Luxury Property Specialist

206.295.4777 | kittyhughes@cbbain.com kittyhughes.cbbain.com Madison Park | 4227 E Madison Street, Suite 1D | Seattle, WA 98112

©2021 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportwunity Act.

PROVEN RESULTS

I

am so grateful to my clients for their support in 2020 and for helping me achieve a position among the five top producers for the Realogics

Sotheby’s International Realty Madison Park office. The year 2020 was a

A CONTINUED LEGACY

benchmark for RSIR, with sales volume rising nearly 70 percent year-over-year to

RSIR ranks amongst the largest, most productive and fastestgrowing real estate companies in Washington with access to 23,000 brokers in 70 countries that generate global sales of $114 billion annually.

$2.8 billion. As we continue into 2021, I look forward to supporting my clients in their real estate needs with a foundation of unwavering loyalty, candor, dedication, and expert advisement.

Sotheby’s Auction House Presents Made in Britain, a showcase of art and objects by the very best artists and makers working in Britain in the 20th and 21st centuries.

WHAT MY CLIENTS ARE SAYING

Managing Broker Senior Global Real Estate Advisor Founding Member | 206.399.5842 Laura.Halliday@rsir.com LauraHalliday.com

BROADMOOR | $3,199,000 1518 Parkside Drive East — Behold the Modern Tudor. It’s like your average traditional home that took a junior year abroad in Paris and came home with a chic short haircut and a certain knowing look. Sexy? Yes. Attitude? Definitely. The ‘under the hood stuff,’ done. Pristine and polished to a tee!

Laura Halliday deserves the glowing accolades she earns. I would rate her skills in each category 10 stars if I could. Laura sold my Denny-Blaine home within a week for the asking price to the perfect buyers. She responds quickly, remains positive throughout the process, and provides actionable feedback. Laura is the best real estate representative with whom I have ever worked, by a massive margin.

Invaluable to the sale of my home, Laura understands the product she represents and how to maximize its potential. My modern-style home had been heavily remodeled with quality finishes and high-tech features. Laura was quick to internalize those characteristics, identify the appropriate buyer population, and package the home in a way that created urgency in the marketplace.

Laura is confidence-inspiring. Her guidance and input were on point, and her representation is effective and smooth. Finally, if the above were not enough, Laura is naturally delightful, funny, and refreshingly sincere.

-Joan Krajewski

Each Office Is Independently Owned And Operated. Seller reserves the right change the product offering without notice.

4

MARCH 2021

Good posture for the 21st century

THERESA TRUEX PREMIER DIRECTOR | WINDERMERE REAL ESTATE MIDTOWN (206) 972-7768 • ttruex@windermere.com theresatruexproperties.com

T

Seattle Dances livestream event will benefit Plymouth Housing Plymouth Housing presents the livestreamed event and fundraiser “Seattle Dances,” featuring nine local luminaries paired with professional dancers, March 13.

Tickets are not required, and everyone is invited to attend the event, which will benefit Plymouth Housing. It will be live streamed beginning at 7 p.m. at seattledances.org. General donations can be made at http://bit.ly/Donate2SD. During the event, nine area residents, includ-

ing former Seahawk tight end Cooper Helfet, Alex Nordstrom and Scott Oki, will perform with professional dancers from local dance companies and The Century Ballroom.

The dancers are competing for People’s Choice, Judge’s Choice and Cyber Choice Trophies.

Each dancer has practiced for months with a professional dance instructor to show off new skills in breakdancing, tap dancing, Bollywood, jazz and modern pop.

theresatruexproperties.com

Theresa Truex MADISON PARK PROPERTIES

Home insurance from someone you can trust.

Call me today.

WALLY GREEN 206-322-8744

4020 E MADISON ST STE 102 SEATTLE Subject to terms, conditions and availability. © 2015 Allstate Insurance Co.

The Stewart Lumber & Hardware Company Shop Local ∙ Shop Smart 206.324.5000 TheStewartLumberCo.com 1761 Rainier Ave. S Seattle, WA 98144

230967

elling someone to “sit up straight, muscle tension can cause injury. shoulders back and head up” Secondly, the muscles of our limbs might have been good enough (hips and shoulders) should never for the Victorian era, but it has not done carry chronic tension on the front side much for the likes of the modern 21st of our body. For example, think about century desk worker who suffers from what happens when adults go into epidemic levels of lower back and neck the “fetal position” as a self-protective pain. mechanism from imminent threat; As it turns out, neck and back pain is the hips become flexed to protect a difficult problem to solve, and, ironivital organs, and the shoulders cave in cally, some people even give themselves and elevate to protect the chest and a back injury by trying to work on their neck. Carrying chronic tension like Dr. Dan Michael this leads to preventable chronic pain, posture too hard, doing too much of the NW Sports right thing and not enough of another. muscle tension and fatigue.

While antiquated posture advice might Generally speaking, we can now see Rehab have gotten us this far, posture, like many a trend begin to emerge as it becomes things in nature, responds best to a balclear that our trunk area suffers from anced approach. a lack of front-sided core tension, which ultimately Good posture is truly a balancing act that thrives makes our back muscles work harder. Conversely, best when the right pieces get put in the right places, our limbs suffer from a lack of back-sided, glute and and here is how to do that. shoulder blade tension that ultimately make our hips Last month, I wrote about the importance of your and shoulders work too hard. These two concepts core and the connection to your breathing. This tend to become more and more challenging as we month, you will get the opportunity to practice your age, as gravity takes its toll, and as our weaknesses newfound skill in the sitting position, and with good give rise to the aches and pains that we encounter posture. Historically, posture advice from experts throughout our lives because of our poor posture. has focused almost entirely on what the back, neck Now you can have a 21st century approach to and shoulder muscles are doing, and rightfully so. posture right now in your own home.

After all, it only makes sense that you would want to Start by sitting upright, with your head on top of control these back muscles, but what about the front your shoulders, eyes looking forward. muscles?

Your ear opening should fall at the level of the hip When you sit or stand, your brain naturally actibone, not in front or behind a plumb line that would vates your back muscles to put you in the upright po- be seen from someone looking at you standing from sition, often without any conscious effort, and thank- the side. fully we do not have to think about these muscles, The ends of your collar bones should also pass otherwise it would be impossible to walk and carry through that line as well, as a guide for where your on a conversation at the same time. But by focusing shoulder blades should be positioned. on your core and your breathing, you will be able Your shoulders should feel like they are being to help your spine balance the tension from front lightly “shrugged down” away from your ears, but to back, easing some of the stress that your back without any tension in your arms or forearms. muscles place on the joints and discs of the spine.

Your head should feel as if you are making a very This is why, in some cases, people who try too hard slight “double chin” motion, not too hard, to help to “sit up straight” and have “good posture,” withguide your neck into an elongated position. out balancing the front-to-back equation with core There should be some, but not too much, tension and breathing tension, end up injuring themselves, in your core, and you should be noticing how the causing even more back pain, and often leaving them tension in your stomach increases with breathing wondering if they need space age technology to sim- in, and how your core muscles follow the air out as ply sit at their desk without experiencing pain. you breathe out. Generally, there should be enough Unfortunately, many of these cases never learn to tension to balance a glass of wine on your belly if you breathe and brace effectively with their posture and were laying down. relegate their condition to increasingly more and Your hips should be relaxed in the front, with your more aggressive forms of medical management to core doing all the balancing work needed to stay ease their suffering. upright.

While it is important to pay attention to where Set a timer to go off every 30 minutes to remind the muscles in your body should have tension, it is you to take a moment to be conscious of your body, equally important to observe where there should not where there may be tension, where there is lack of be tension. tension, and that you may need to breathe.

Generally, having excessive tension where your For older spines, some of these directives may be natural spinal curves change direction is problemanatomically impossible to achieve due to the natural atic. These include where your pelvis meets your course of spinal aging, so do take precautions when lower back, where your lower back meets your lower doing these exercises, and, as always, for all readers, ribs, where your upper back meets your neck, and if you have any health concerns about any of these where your neck meets the back of the head. In practices, do ask your doctor before performing spinal anatomy, we call these “transitional junctions” them. because it is where the spine begins to curve the opposite direction (and the vertebra change shape, too).

— Dr. Dan Michael is a chiropractic physician These junctions help form our natural spinal curves, at NW Sports Rehab, 1929 43rd Ave. E., Madison but forming these curves to excess with strong spinal Park. Call 206-328-5466 for more information.

Pacific Publishing Company – Queen Anne & Magnolia News • Madison Park Times • City Living Seattle

MARCH 2021

A Trusted Legacy Connecting home and life, backed by the heritage of the Sotheby's brand

MADRONA | $2,395,000 rsir.com MLS #1729202

MADISON PARK | $1,385,000 rsir.com MLS #1732082

WALLINGFORD | $949,950 rsir.com MLS #1723680

BROADMOOR | $3,199,000 rsir.com MLS #1716426

Delivering the highest standard of service to elevate the real estate experience: the brokers based out of Realogics Sotheby’s International Realty’s Madison Park take seriously the hundreds of years of history that backs the trusted Sotheby’s brand. And with it, they offer the Puget Sound’s quintessential innovation, assuring that each real estate journey is guided by intelligent solutions, in the hands of local experts with global reach.

Uniting more home buyers and sellers year after year, they work tirelessly to connect you and your loved ones with an exceptional home that provides everything you need in 2021.

Meet your global real estate advisors:

LAURA HALLIDAY 206.399.5842

HOADY SPENCER 206.372.1092

TOBY LUMPKIN 206.786.2035

NEDA PERRINA 206.218.8589

WE'RE OPEN ONLINE 24/7

CINDY PAUR 206.949.4497

LESLIE DICKINSON 206.200.2174

JOHN MADRID 206.498.1880

4031 East Madison Street | Visit RSIR.com or call 206.466.2409

THE B•BAR EXPERIENCE

S I G N U P FO R M A R K E T R E P O RTS

N EW D EV E LO P M E N TS

Now open for indoor dining Thursday-Sunday!

The café opens at 8 a.m. for gourmet coffees and beverages, and for lunch and dinner service from 11:30 a.m.-10 p.m. Enjoy delicious cocktails paired with a full food menu. More at BBarBelleuve.com.

Keep an eye on this fast-moving real estate market: Detailed market data and analysis by neighborhood or zip code is available in our monthly automated market tracker reports. Get yours at RSIR.com/reports.

It’s a competitive real estate landscape for buyers right now—but what if you could step into a home that is truly, uniquely yours? RSIR’s New Developments team connects buyers with presale and newly built living opportunities.

More at RSIR.com/developments.

RSIR.COM Each office is Independently owned and operated.

Seller reserves the right to change product offering without notice.

5

6

MARCH 2021

Chris Sudore “As a Madison Park Resident, I care about your home‘s value.”

Curious what your home is worth in today‘s market? Contact us today for a free market evaluation.

Pending | Multiple Offers | $2,749,000 | 1631InterlakenPl.com

Active | Capitol Hill | $2,750,000 | 904CapitolHill.com

Pending

Sold

Sold

Sold

Coldwell Banker‘s Global Luxury Team | King County Estates

Chris Sudore President/Founder of King County Estates 206.799.2244

Marta Grzankowski Sales Broker & Office Manager 425.519.3345

Jennifer Vandiver Sales Broker 509.969.6767

Chris Sudore | Managing Broker Madison Park Your Specialist In: Madison Park • Washington Park • Broadmoor • Denny Blaine • Capitol Hill • Madrona • Leschi

Ryder Fasse Sales Broker 206.351.0923

Curt Weese Sales Broker 206.454.9638

Megan Bassetti Marketing Manager

Chris@KingCountyEstates.com 206-799-2244 KingCountyEstates.com

Pacific Publishing Company – Queen Anne & Magnolia News • Madison Park Times • City Living Seattle

PROPERTY, FROM PAGE 1 17 sold homes Average Sales Price: $2,238,561 Average Days on Market: 73 Average Price Per Square Foot: $709 Lowest Sales Price: $440,000 Highest Sales Price: $4,625,000 Selling at 97.07 percent of last listed price Over $2.5 million market time is 69 days, and there were 7 sales with an average price of $3,243,857 2020 through Feb. 22: 12 sold homes Average Sales Price: $1,860,583 Average Days on Market: 82 Average Price Per Square Foot: $628 Lowest Sales Price: $545,000 Highest Sales Price: $3,000,000 Selling at 97.25 percent of last listed price For 98112 2021 through February: 44 sold homes Average Sales Price: $1,432,830 Average Days on Market: 56 Average Price Per Square Foot: $627.16 Lowest Sales Price: $438,000 Highest Sales Price: $4,625,000 Selling at 101 percent of original listed price 6 of these are $2.5M+, and this market and the market time over $2.5M is 79 days 2020 through Feb. 22: 25 sold homes Average Sales Price: $950,076 Average Days on Market: 55 Average Price Per Square Foot: $556

Lowest Sales Price: $375,000 Highest Sales Price: $1,750,000 Selling at 101 percent of original listed price In looking at the Seattle luxury market as a whole, during the period of Jan. 1, 2021, to Feb. 22, 2121, sales of homes over $2.5 million rose from seven sales in 2020 to 22 is 2021. The average price of these homes was $2,819,429 in 2020 and $3,283,276 in 2021, a 16.5 percent increase.

My takeaways: • The Seattle-area housing market was very competitive before the coronavirus pandemic and has only gotten more competitive.

• Year-over-year real estate activity in our neighborhood remains strong and steady with sales up, prices up and days on market down.

• Overall, in 98112, a 51 percent average price increase year over year; it’s important to note that this a small sample, and the majority of the increase is under $2 million.

• The market time for homes over $2.5 million is over 40 percent longer those under that price point.

• We continue to see multiple offer situations at certain price points and with unique, show-ready homes.

• Historically low interest rates mean would-be home

buyers have more buying power, which is needed with the area’s price increases and is leveraged to bid higher in multiple offer situations.

A Feb. 23 article in The Seattle Times speaks to the price increases seen in the Seattle area and across the nation over the last several months.

“In December, home prices in the Seattle area continued to rise faster than the national average, according to the S&P CoreLogic Case-Shiller Home Price Index released Tuesday,” the article stated. “The index reports a threemonth rolling average of home prices and lags by two months.

Prices for homes in the Seattle area were up 13.6% in December compared to a year earlier.

Nationally, prices rose 10.4% year over year. That national jump in December was the first doubledigit increase since January 2014, according to CoreLogic Deputy Chief Economist Selma Hepp.”

Two takeaways from the last year that are making a significant impact on housing trends: 1. The emphasis on spaces for working and studying from home. Recent announcements in the tech industry and others tell us that the work-from-home lifestyle is here to stay. Homebuyers are juggling Zoom calls and home schooling; separate spaces to accomplish all of these tasks is a priority. We are finding that homebuyers also seek larger lots to give all members of the household room to play during the day

or when the work is done. Luckily, our neighborhood is less dense than in other Seattle areas; those seeking more space continue to be attracted to the 98112.

2. The desire for homes in resort-style settings. The ability to work from home and a desire for greater access to the outdoors, combined with lower mortgage rates, has resulted in a huge increase in second-home purchases over the last year. Some of these vacation homes may ultimately become primary residences — especially for those getting close to retirement — but many have opted to invest in that sanctuary now as a result of pandemic lockdowns and the desire to seek respite from urban areas.

One development you should know about since the last time I wrote this column: Open houses are back with up to 10 visitors socially-distanced (including the broker.) This return to some form of normal has been an optimistic development in the real estate market, and a welcome tool for buyers and sellers alike.

In closing, thank you to everyone who has remained committed to supporting our local Madison Park Village businesses and helping them through this unprecedented time. Having shops, coffee, cafés, fine dining and pubs within strolling distance is a valuable asset for our neighborhood, and we want as many of our small businesses to survive as possible.

Please keep shopping small, and when you visit, post to social media and encourage your neigh-

MARCH 2021

“The Seattle-area housing market was very competitive before the coronavirus pandemic and has only gotten more competitive.” bors to lend their support as well. #Shop98112 As of press time, there are 13 homes for sale over $2.5M in Madison Park, Washington Park, Broadmoor and Denny Blaine.

Three of the residences are condominiums, and the highest priced single-family home for sale is a contemporary villa with 130 feet of Lake Washington waterfront.

If you have given any thought to selling your home, there has not been a better time in recent memory. Our Compass experts have a long history in Madison Park and are ready to help you navigate this unique time with the latest technology, top-notch marketing and proven pricing strategies. Do you need help getting your home ready for sale?

Ask about our Compass Concierge program! If you’re buying, our knowledgeable agents will help you achieve success in this still competitive market.

Evan Wyman Broker/Partner The Wyman Group @ COMPASS

WASHINGTON PARK $13,895,000

MADRONA $1,895,000

WASHINGTON PARK $1,995,000

SEWARD PARK $3,395,000

Celebrating Over 120 Years of Exceptional Service!

BETSY Q. TERRY & JANE POWERS 206.322.2840 ewingandclark.com | luxuryrealestate.com

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MARCH 2021