May 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
High demand, low inventory a trend in Seattle
H
ello May! Spring has sprung, and the Seattle real estate market continues to be extremely active! We have seen a continuing shortage of inventory and a demand that looks to not be slowing down. The great housing “reshuffle” seems to continue in now its second phase. Home has been redefined for many of us; the merging of home and office, and the now further rebalancing of many people working part time at home and working out a “new normal” will continue to help shape the market. Preparing a home to present to market has never been more important; our home prep gurus, styling team and photographers and inspectors have never been busier. The single-family home market has been particularly robust. One part of the market that has been slow over the past 12 to 14 months is the condo market, and over the past few weeks it has
had a tremendous awakening with a lot of properties that have been on the market Spafford Robbins for some Property Views time selling and seeing competing offers. There is also a great shortage of singly-family rentals in the Seattle market citywide. We are getting our open house signs out again, and you should see more open houses pop up in the next month. One holdover from the past year is that the showing process has been exclusively by appointment. This approach has allowed clients to
“Home has been redefined for many of us; the merging of home and office, and the now further rebalancing of many people working part time at home and working out at ‘new normal’ will continue to help shape the market.” have time alone in a home for an allotted period — something that will likely continue from the positive feedback we have received! By the Numbers (03/01/2021 – 04/15/21) Denny Blaine, Broadmoor, Washington/Madison Park (Single-Family Homes) 13 sold homes Average Sales Price: $2,489,058 Average Days on Market: 68 Average Price Per Square Foot: $734 Lowest Sales Price: $930,000 Highest Sales Price: $7,500,000 There are currently 11 active
properties for sale with average offering price of $4,668,909, ranging from $1,350,000 to $13,895,000 with an average days on market of 58. There are currently 22 properties pending sale, average offering price of 2,481,355 and an average days on market of 31. Denny Blaine, Broadmoor, Washington/Madison Park (Condominiums): 6 sold homes Average Sales Price: $569,333 Average Days on Market: 11 Average Price Per Square Foot: $695
Lowest Sales Price: $337,000 Highest Sales Price: $745,000 There are currently eight active properties for sale with an average offering price of $2,033,375, ranging from $718,000 to $3,500,000 with an average days on market of 129 days. There are currently five properties pending sale with an average offering price of $846,580, ranging from $495,000 to $1,749,000 with an average days on market of 40 days. I am honored and happy to help with anything I can in maneuvering this ever-changing and dynamic Seattle real estate market. My team and I at GBK/ Compass are here to assist with the presentation of your home in preparation of bringing it to market as well as a thoughtful home search with the utmost attention to detail and care. I am here to answer any questions. Spafford Robbins, GBK/Compass; SpaffordRobbins.com.
LISA TURNURE REAL ESTATE COLDWELL BANKER BAIN IConic Capitol Hill View home | $4,995,o000
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
$
For more information regarding this beautiful home,or to set up a viewing of the property, please contact me. To see my other active listings and recent sales, visit lisaturnure.com.
206.919.6605 | lisaturnure@cbbain.com | lisaturnure.com
MOIRA E. HOLLEY
EXPERIENCED. INNOVATIVE. TRUSTED.
moirα@moirαpresents.com 206.612.5771 moirαpresents.com