April 2021
Madison Park Times
Serving East-Central Seattle since 1983
Real Estate
MADISON PARK - WASHINGTON PARK - MADISON VALLEY - DENNY-BLAINE - MADRONA - LESCHI
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of it. hat a difThroughout the ference greater Seattle area, a year inventory — the makes. One year ago, homes available to life skidded to a stop buy — is at stunin the still-early days ning lows. There is of the COVID-19 only three weeks of pandemic, as we supply on the market looked at everything — what analysts call with uncertainty and Chris Sudore the absorption rate. not a little fear. Workers were sent home, Property Views Remember, real estate industry analysts call some businesses shut a neutral market one down completely, and in which there is four the real estate industry to six months of available homes. went quiet. In our neighborhoods in and Real estate a year later has not around Madison Park, there is just rebounded, but we’re seeonly two weeks’ worth of invening activity on a pace like — or tory. In these top neighborhoods, in some cases, surpassing — the and in certain price points and height of the market in 2017. It’s not necessarily despite the paninstances, sellers are fetching 25 to 30 percent over their asking demic, but in many ways because
Homes Closed in Madison Park, Madison Valley, Washington Park, Denny Blaine, Broadmoor, Leschi and Madrona from February 22-March 22 Sold Address
Bed
1633 29th Ave 1626 39th Ave E 719 30th Ave 826 31st Ave E 356 29th Ave 1118 33rd Ave 3407 E Marion St 410 30th Ave E 1432 32nd Ave 3507 E Alder St 611 29th Ave E 1629 35th Ave 537 30th Ave 2904 S Washington St 111 34th Ave E 1615 35th Ave 1100 Shenandoah Dr E 2068 42nd Ave E 3316 E Republican St 3320 E Republican St 3724 E Highland Dr
Bath
Sq Ft
2 3 4 3 4 4 3 4 3 2 3 4
1 1 2 1.75 1.75 2.75 3 4 2.5 1.5 2 2.5
5 6 5 4 4 4 6 6 3
3.25 2.25 3.75 3 3.25 3.5 4 4 2.5
Built
1,600 1,140 2,100 2,840 2,240 2,830 1,950 2,570 2,420 1,725 2,130 2,520 2,800 3,724 3,080 4,200 3,800 2,794 4,091 4,141 3,784
Days on Mkt
1944 1906 1907 1913 1905 1903 2002 1915 1993 1902 1908 1910 1913 1900 1951 2008 1940 1994 2021 2021 1925
15 7 5 5 6 110 6 54 3 74 22 5 7 43 5 157 95 7 1 25 117
Asking Price
Sold Price
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
810,000 930,000 1,101,000 1,110,000 1,152,000 1,160,000 1,180,000 1,200,000 1,220,000 1,245,678 1,280,000 1,355,000 1,500,000 1,825,000 1,860,000 1,900,000 1,925,000 2,180,000 2,389,950 2,409,950 2,525,000
$
1,536,123
37
Avg.
prices. It’s a stunning turnaround.
New factors at play
The “new normal” life we’ve all learned to live with has had its drawbacks, losses and sorrows for too many. Seattle’s economy, though, is strong. For people with salaried employment, there has been no disruption in their jobs or paychecks, even as they continue
to work remotely. The pandemic has meant we all spend more time at home. What we need from our homes has changed. More room, more bedrooms, more storage, bigger and better kitchens and usable outdoor space is at a premium. People need dedicated home offices for remote work and schooling. For families, the togetherness has been great, but sometimes everyone needs to chill in a more
799,950 950,000 995,000 1,050,000 925,000 1,240,000 1,180,000 1,248,880 1,095,000 1,299,000 1,295,000 1,195,000 1,498,000 1,845,000 1,795,000 2,000,000 2,150,000 2,200,000 2,389,950 2,409,950 2,695,000
Sold /Asking Price 101.26% 97.89% 110.65% 105.71% 124.54% 93.55% 100.00% 96.09% 111.42% 95.90% 98.84% 113.39% 100.13% 98.92% 103.62% 95.00% 89.53% 99.09% 100.00% 100.00% 93.69%
private space. All of these needs are driving this hot seller’s market. I’ve also noticed that this crisis has made people more deliberate and more decisive when it comes to real estate. That’s necessary now, especially on the buyer side. There is no time to mess around with so few available homes on the market. There’s also a real feeling of
SEE SUDORE, PAGE 4
Highly sought-after NW corner in First Hill Plaza. Recently renovated 2-bedroom, 2.75-bath offers 2,100 sq ft. of fresh minimalist interiors by Seattle interior designer Michelle Dirkse. 1,949,000
$
MOIRA E. HOLLEY moirα@moirαpresents.com 206.612.5771 moirαpresents.com
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APRIL 2021
Early bloomers and evergreens hasten spring
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inter is be the right size for hands your space. Read the down the tags on the shrubs best time to plan a and trees — that little garden. Not only are pine may grow to you liberated from 30 feet in time. The pressures of racing evergreen presence against time to weed, can be a hedge, a low sow, shop, plant, edging, a carpet or harvest and mulch punctuation marks Erica Grivas in Seattle’s relatively of blue or green short growing season, conifers, variegated Get Growing but you can see the foliage — like Ilex, outline of the garden, Osmanthus, Eubare of summer leaves and annual onymous or Choisya. For smaller plants. plants, consider heuchera (coral It’s so tempting to go wild bells) or evergreen grasses and in spring at a nursery, when sedges like carex or ophiopogon color-hungry eyes are blinded by (black mondo grass). Imagine azaleas, forsythias and primroses. they are all you see in winter — is Or just plain hungry eyes are buy- there enough? ing nothing but annual herbs and Need some inspiration? Check vegetables. Oftentimes, gardens out designed public gardens like made that way run the risk of the University of Washington turning flat and gray in winter, Arboretum, the Bellevue Botanic swaths of deciduous shrubs and Garden, parks and zoos or even empty ground or pots that held gardens in front of hotels and annuals. malls. A garden planned with winter Then, add some highlights with in mind, on the other hand, stands bonus color from winter standouts proud in February, buoyed by like shrubby dogwoods, which evergreen shrubs, colorful berries shine in this season. Most look and twigs. We are so fortunate kind of meh most of the time, at the sheer amount of botanical until fall when they drop their diversity that thrives here, that it’s leaves to reveal glossy red, orange easy to have a garden that thrills or yellow stems. The most exciting you year-round, with scent, color ones have variegated leaves. They and style. generally get about 6 feet tall, so First, build the bones of your they make a nice focal point if you garden with evergreen shrubs, have space. A new red-twigged trees and groundcovers that will dwarf called “Little Rebel” tops
out at about 3 feet. A whole article could and should be written about trees with beautiful bark — birch, paperbark maple, parottia and stewartia are just a few. For berries, look to crabapple varieties with long-lasting fruit, tough ground-hugging cotoneaster, edible wintergreen-flavored gaultheria and, of course, hollies. There are many striking tasseled plants that can anchor a bed or a corner all by themselves and will get the neighbors talking — silk tassel bush, also known as Garrya elliptica, and the twisty “Harry Lauder’s Walking Stick,” Corylus avellana contorta (the twisted filbert or corkscrew hazel, named for a Scottish Vaudeville star, who often used a gnarled cane). They both put out swirly catkins that dangle in the breeze like tinsel on a Christmas tree. I saw a gorgeous combo of a Garrya backed by a witch hazel (hamamelis species), which offers smaller winter fringy flowers in yellows, reds and oranges — often with a spicy woodsy fragrance. Punch up the color even further with early flowers — you can have bulbs blooming from February through April without taking up much ground, especially if you layer them from largest, say allium or tulips, in the bottom layer, up to snowdrops and crocus in the top layer a couple of inches from
SEE GRIVAS, PAGE 4
Photo courtesy Erica Grivas Witch hazel, such as these at the University of Washington Arboretum, offers smaller winter fringy flowers in yellows, reds and oranges, as well as a spicy woodsy fragrance.
Madison Park Premier Home 2332 42nd Ave E Active $2,195,000
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!
LESCHI AREA CONDOMINIUM 334 Lakeside Ave S. #404 Pending $510,000
WASHINGTON PARK 1231 42nd Ave E Pending $2,895,000
KATHRYN HINDS Windermere Madison Park 206•650•6488 KATHRYNHINDS@COMCAST.NET KATHRYNHINDS.WTHWRE.COM
TAYLOR HINDS Windermere Madison Park 206•434•5102 TAYLORHINDS@WINDERMERE.COM TAYLORHINDS.WTHWRE.COM
719 Harvard Ave E: Sold $2,500,000 2540 39th Ave E Lot #5: Pending $1,550,000
Pacific Publishing Company – Queen Anne & Magnolia News • Madison Park Times • City Living Seattle
APRIL 2021
GRAND AND GRACIOUS URBAN CONDOMINIUM 1620 43rd Ave E, Unit #1213C | 3 bedrooms, 3.75 baths | $3,485,000 | MLS #1685054
This grand and gracious urban condominium in Washington Park Tower offers approximately 3,300 sq ft and three bedroom suites. An elegant floorplan that cannot be duplicated features two levels of living space with sweeping views of Lake Washington, Mt. Rainier and Madison Park. There are formal dayrooms for entertaining and a library/den and family room for casual living. A sophisticated oak spiral staircase conveniently connects the two levels. Located on the shores of Lake Washington just steps away from Madison Park Village.
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
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PROVEN RESULTS
T
he laws of supply and demand are at work in the Seattle real estate market! With few homes available for sale, those that do come onto
the market are moving at a brisk pace. I’ve worked with a number of clients to position their homes for sale this year, many of which have received multiple offers and have closed above list price. If you are thinking of selling your home, now is a great time—I’d be happy to connect with you to discuss market fundamentals and how to position your home for success.
Sotheby’s Auction House Presents Sui Generis: Bejewelled Treasures of Time, 42 beautiful jewels from the late 18th century to modern times.
Managing Broker Senior Global Real Estate Advisor Founding Member | 206.399.5842 Laura.Halliday@rsir.com LauraHalliday.com
A CONTINUED LEGACY RSIR ranks amongst the largest, most productive and fastestgrowing real estate companies in Washington with access to 24,000 brokers in 75 countries and territories generating global sales of $150 billion annually.
WHAT MY CLIENTS ARE SAYING
NEW IN CAPITOL HILL | $3,995,000 1515 Federal Avenue East — With all due respect to period homes, I myself am not fond of traditional (or contemporary) aesthetic inside and out. A far more nuanced, interesting look is achieved when one combines classic bones with artful updates that can translate into a home that lives for today. Enter Modern Colonial. The curb appeal? Out of the world. Tucked behind a world-class hedge and wrought iron fence with fresh landscaping, this home conveys a tailored, chic persona.
Laura could see the love and care we had invested in restoring our beautiful English Tudor. She knew that finding the right buyer for a house like ours would require helping them understand the value in each special detail. She enthusiastically marketed our home, and we have no doubt her enthusiasm and energy conveyed during showings with potential buyers. Within a month Laura had three prospects making competing offers to purchase our home! We cannot say enough good things about Laura. She is a tireless advocate for her clients. Hiring Laura Halliday was the best decision we could have made. - Vivian & Russel Wilson
Each Office Is Independently Owned And Operated. Seller reserves the right change the product offering without notice.
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APRIL 2021
GRIVAS, FROM PAGE 2 the surface. The pollinators will thank you, too, for adding flowers for them in the off-season. The amazing hellebore family, which gets more amazing by the year thanks to prolific breeding programs, offers evergreen leaves, striking foliage and flowers that can start in November and take you through March if you pick varieties carefully. Christmas roses (helleborus niger and hybrids) bloom November through January, while Lenten roses (helleborus orientalis and hybrids) bloom January through March. What look like flower petals are actually sepals, but nobody minds, especially the bees who love to visit them on warm winter days. The “flowers” are long lasting and stay on the plant as they darken slightly to mauve or green, but stay attractive. They make wonderful cut flowers floating in a dish for several days. To add the extra dimension of luscious fragrance and evergreen foliage, look to sweetbox, sarcoccoca hookeriana var. humilis (shorter, to about 18 inches) or ruscifolia (a great hedge pick at 3 to 5 feet high). Glossy almondshaped leaves mimic boxwood, without the unpleasant odor, and instead offer a wonderful vanilla scent in early winter that lingers in the air. Daphne species are another wonderful option that may have you following your nose to ask your neighbor what they are growing this time of year. Ever-
SUDORE, FROM PAGE 1 hope and optimism. Vaccination supplies and the number of people getting them are picking up, the stock market is high, interest rates are low. All of these factors contribute to the incredibly hot real estate market.
What to know and how to plan
This market is different than other busy markets. It started earlier — transactions were unusually heavy in December, which is not typical of the months around the late winter holidays. We’re deep into the traditional spring market, and it’s only getting busier. We’re seeing more movement from the always-hot Seattle neighborhoods to families moving to the east side — homes are larger, lots are bigger, and there’s more space to spread out. If you’re selling, the time is now. Some of my sellers aren’t looking to buy again right now. They’re taking the proceeds from their sales and renting for a while until things sort themselves out. When they come back in, they’ll have the cash to move fast and aggressively with the intent to win. The scarcity of inventory is hard on buyers. The single most important thing a buyer can do to increase their chances for success is to work with an experienced broker. Now is not the time to call that friend who has a real estate license because you feel obligated
THERESA TRUEX PREMIER DIRECTOR | WINDERMERE REAL ESTATE MIDTOWN (206) 972-7768 • ttruex@windermere.com theresatruexproperties.com
theresatruexproperties.com
Theresa Truex MADISON PARK PROPERTIES
Erica Grivas photo The ‘flowers’ of hellebores, such as these, are actually sepals, but they last several days floating in a dish. Bees also like to visit them on warm winter days. green, usually averaging about 4 feet tall, they are a handsome player for a partially shady spot. The pink or white flowers have a swoon-worthy scent. The catch is that poor drainage, erratic frosts or transplanting may cause them to exit the world without warning, but I love them so much I am growing three different types. There are even varieties like “Summer Ice” and “Eternal Fragrance” that repeat bloom into the summer, extending your swoon season for months.
Lastly, there are the plants that look beautiful as they go gently into that good night — with lovely seed heads or tawny colors that take on extra allure when there are fewer flowers to distract us. Designer Piet Oudouf calls the enjoyment of this demise “the fifth season.” Hydrangeas, ornamental grasses, echinacea (coneflower) and more can have their old flowers left on to feed the birds and give us more things to enjoy until the last gorgeous minute.
“Real estate isn’t just about property and prices; at the base of it, it’s about people.” — unless that buddy has years of experience, many successful transactions and extensive local connections. There’s simply an oversupply of buyers. We see 20 to 30 groups of serious, ready-to-pounce buyers at every available house. Prices are rising as multiple offers escalate to bidding wars and the usual contingencies are waived, and buyers who can put down cash — quickly — are getting those homes. That takes a toll on the unsuccessful bidders. If you’ve ever put an offer together, it takes time and hope. It can be emotional and stressful. An experienced, dialed-in broker can take some of the load off and work the angles that are only learned over time and with experience. I was working with buyers who were ready to write up an offer on an attractive property. I knew the broker representing the sellers because we’d done many transactions over the years, through hot and cold markets. A quick call, asking the right questions — and knowing what the answers meant — led me to a win. Not the house. It was clear to me this home would ultimately sell for more than my buyers could pay. We didn’t put in an offer, and the win was in not losing. Real estate isn’t just about property and prices; at the base of it, it’s about people.
There was no reason to put these buyers through the roller coaster when I could figure out we weren’t in a position to win. Knowing the market and its players is always important, but never more than it is right now. Buying a house is a huge investment — not just financially. Choose your broker wisely, and you’ll have the best chance to get your new home in this market. My team and I have already successfully won many homes this year for our buyer clients. We’ve also fetched as high as 25 and more offers for certain sellers that hired us to represent them. If you want to win, call me. As always, my home, my office and my team are focused here in Madison Park. If you’d like to set a time to talk through any matters involving buying or selling your home, my door is always open. From all of us at King County Estates, we want to thank our devoted clients, families and community for the tremendous support during this time. Stay smart, stay safe and stay healthy. Chris Sudore Madison Park Resident KingCountyEstates.com Chris@KingCountyEstates. com Managing Broker Coldwell Banker Bain | Global Luxury
Home insurance from someone you can trust. Call me today. WALLY GREEN 206-322-8744
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The Stewart Lumber & Hardware Company Shop Local ∙ Shop Smart 206.324.5000 TheStewartLumberCo.com 1761 Rainier Ave. S Seattle, WA 98144
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Pacific Publishing Company – Queen Anne & Magnolia News • Madison Park Times • City Living Seattle
APRIL 2021
A Trusted Legacy Connecting home and life, backed by the heritage of the Sotheby's brand
WASHINGTON PARK | PRICE UPON REQUEST rsir.com MLS #1745987
QUEEN ANNE | $625,000 rsir.com MLS #1739457
WASHINGTON PARK | $1,895,000 rsir.com MLS #1654315
MADISON PARK | $1,350,000 rsir.com MLS #1732082
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:
John Madrid
Laura Halliday
Hoady Spencer
Toby Lumpkin
Neda Perrina
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It’s time to get ready for Opening Day 2021! This year Rock Around the Dock will be virtual on May 1st. Whether you are in club uniform, your best rock-around-the-dock attire, or just on your boat, we would love for you to join the fun. See more at SeattleYachtClub.org/Events.
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.
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Seller reserves the right to change product offering without notice.
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APRIL 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.
Active | $1,998,000 | 13620Glendale.com
Sold | $2,775,000 | 1631InterlakenPl.com
Pending
Pending
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
APRIL 2021
LISA TURNURE REAL ESTATE COLDWELL BANKER BAIN
PICTURE PERFECT IN BROADMOOR | $2,650,000
Washington Park VIEWS & PoOL | $2,895,000
MOUNT BAKER $2,500,000
CAPITOL HILL $1,595,000
PENDING MULTIPLE OFFERS
BROADMOOR SOLD | $3,125,000
For more information on these properties or to see my other active listings and my recent sales, please contact me via phone or email, or see my website at lisaturnure.com.
206.919.6605 | lisaturnure@cbbain.com | LisaTurnure.com EXPERIENCED. INNOVATIVE. TRUSTED.
WASHINGTON PARK $8,195,000
MADRONA $1,795,000
SEWARD PARK $3,395,000
WOODLAND PARK $690,000
Home Buying Season is Upon Us! BETSY Q. TERRY & JANE POWERS 206.322.2840 ewingandclark.com | luxuryrealestate.com
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APRIL 2021