November 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 shortage of inventory plaguing region G sellers are staying reater Seattle put, resulting in a continues to cycle that perpetuexperience a ates the low-invenvery active real estate tory dilemma. market with a shortage While we are of inventory plaguing seeing less multiple the region. offers, homes that In September, King are priced correctly County saw a steep are selling in a short decline in homes for amount of time; if sale, down 32.5 peryou have considcent from a year ago. Evan Wyman ered selling, this Historically low interest Property Views remains a seller’s rates and a strong job market. market continue to The luxury market in Sedrive the market with new hires attle is also increasing. In what is coming in from out of state for typically reserved for the eastside, high tech, medical and other Seattle is seeing more uber-highindustries. end sales. The pressure on any available In Denny Blaine, Broadmoor, inventory has resulted in a draMadison Park and Washington matic drop in days on market, including here in our neighborhood. Park, there were 10 sales over $4 million in all of 2020, nine in Without a home to buy, many
2019 and four in 2018. There have already been 15 sales over $4M in 2021, including a pending sale for $35 million, which will be the highest-ever Seattle sale in the Northwest Multiple Listing Service. The ultra-high-end market in our neighborhood is here to stay. Here’s a snapshot of the recent housing market stats in our area: For Denny Blaine, Broadmoor, Washington/Madison Park July 15, 2021, through Oct. 15, 2021: 33 sold homes Average Sales Price: $2,077,964 Average Days on Market: 25 Average Price Per Square Foot: $804.30 Lowest Sales Price: $440,000 Highest Sales Price: $8,800,000
SEE PROPERTY, PAGE 4
Appraiser Short Status
Address
Selling Date
Pending 2360 43rd Ave E #402 Pending 3812 E Madison St Pending 209 36th Ave E
CDOM Bedrooms Bathrooms
Selling Price
Listing Price
4
1
1
$595,000.00
21
3
1.75
$1,295,000.00
5
3
2.5
$1,400,000.00
20
3
1.75
$2,150,000.00
Pending 197 34th Ave E
7
3
3
$2,398,000.00
Pending 2066 41st Ave E
10
4
3.5
$3,100,000.00
Pending 122 Madrona Place E
15
5
4.25
$3,198,000.00
Pending 3326 E Shore Dr
26
4
3.75
Pending 3324 E Ford Place
$6,200,000.00
Sold
1810 43rd Ave E #B102
10/1/2021 0:00
14
1
0.75
$440,000.00
$490,000.00
Sold
2040 43rd Ave E #206
8/30/2021 0:00
5
1
1
$485,000.00
$485,000.00
Sold
2040 43rd Ave E #207
8/30/2021 0:00
5
1
1
$515,000.00
$515,000.00
Sold
1600 43rd Ave E #104
8/17/2021 0:00
87
2
1.75
$640,000.00
$670,000.00
Sold
2360 43rd Ave E #303
7/26/2021 0:00
75
2
2
$667,000.00
$688,000.00
Sold
2360 43rd Ave E #206
7/30/2021 0:00
60
2
1.75
$674,950.00
$674,950.00
Sold
1615 43rd Ave E #201
8/2/2021 0:00
6
2
1.5
$699,500.00
$699,500.00
Sold
1600 43rd Ave E #109
8/6/2021 0:00
78
2
1.75
$797,850.00
$829,000.00
Sold
2055 43rd Ave E #402
10/12/2021 0:00
6
2
1.75
$881,000.00
$749,000.00
Sold
229 33rd Ave E
8/10/2021 0:00
8
2
1
$925,000.00
$925,000.00
Sold
432 30th Ave E
9/13/2021 0:00
5
3
1.5
$974,000.00
$974,000.00
Sold
2320 43rd Ave E #202-A
8/11/2021 0:00
6
2
1.75
$1,200,000.00
$1,100,000.00
Sold
3458 E Florence Ct
8/31/2021 0:00
16
3
1.5
$1,245,000.00
$1,245,000.00
Sold
1529 42nd Ave E
8/4/2021 0:00
47
2
1
$1,265,000.00
$1,310,000.00
Sold
2307 McGilvra Blvd E
7/21/2021 0:00
25
4
2
$1,275,000.00
$1,295,000.00
Sold
3410 E Denny Wy
8/20/2021 0:00
6
3
2
$1,352,000.00
$1,298,500.00
Sold
557 Lake Washington Blvd E 9/1/2021 0:00
5
5
3.5
$1,450,000.00
$1,450,000.00
Sold
1149 33rd Ave E
9/28/2021 0:00
68
3
2.5
$1,750,000.00
$1,850,000.00
Sold
2036 McGilvra Blvd E
9/30/2021 0:00
7
2
1.75
$1,820,000.00
$1,595,000.00
Sold
497 McGilvra Blvd E
8/31/2021 0:00
65
4
2.5
$2,199,000.00
$2,295,000.00
Sold
2020 41st Ave E
8/31/2021 0:00
5
4
3
$2,225,000.00
$1,987,000.00
Sold
141 34th Ave E
8/4/2021 0:00
6
3
2.25
$2,230,000.00
$2,100,000.00
Sold
2045 42nd Ave E
8/20/2021 0:00
10
4
3.25
$2,250,000.00
$2,295,000.00
Sold
1860 41st Ave E
7/29/2021 0:00
5
4
3.5
$2,425,000.00
$2,150,000.00
Sold
2214 39th Ave E
9/15/2021 0:00
12
3
3.25
$2,582,500.00
$2,595,000.00
Sold
2235 39th Ave E
9/2/2021 0:00
7
4
3.5
$2,695,000.00
$2,695,000.00
Sold
308 35th Ave E
7/30/2021 0:00
2
4
3.25
$2,870,000.00
$2,750,000.00
Sold
1615 39th Ave E
7/20/2021 0:00
21
4
3
$2,980,000.00
$2,995,000.00
Sold
1226 39th Ave E
8/20/2021 0:00
14
5
3.25
$3,550,000.00
$3,595,000.00
Sold
1126 39th Ave E
8/13/2021 0:00
3
3
2.25
$3,985,000.00
$4,200,000.00
Sold
3801 E Highland Dr
9/15/2021 0:00
2
4
3.25
$4,475,000.00
$4,350,000.00
Sold
3421 E Mercer St
9/30/2021 0:00
26
4
4.75
$6,250,000.00
$6,250,000.00
Sold
605 Hillside Dr E
9/1/2021 0:00
108
5
6.5
$8,800,000.00
$9,300,000.00
LISA TURNURE REAL ESTATE COLDWELL BANKER BAIN
Windermere gold coast estate Pending in two weeks with multiple offers offered for purchase at $15 million
Bainbridge Island International Style on 5 Acres: $2,390,000
For more information on this stunning property or to see my active listings and 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.
MOIRA E. HOLLEY moirα@moirαpresents.com 206.612.5771 moirαpresents.com
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NOVEMBER 2021
MADISON PARK | $3,395,000 BROADMOOR | $3,150,000
MADISON PARK | $1,295,000
BROADMOOR | $5,495,000
Happy Thanksgiving from Ewing and Clark!
MAGNOLIA | $5,639,000 FIRST HILL | $1,695,000
FIRST HILL | $1,495,000
DOWNTOWN | $4,200,000
BETSY Q. TERRY & JANE POWERS 206.322.2840
ewingandclark.com luxuryrealestate.com
Pacific Publishing Company – Queen Anne & Magnolia News • Madison Park Times • City Living Seattle
NOVEMBER 2021
3
Falling for fall gardens H
ow’s your spots, try a blue fall color Carex (sedge) like game in “Blue Zinger,” and the garden? don’t forget there In the Pacific are darker blue Northwest, dependundertones in some ing on the weather, hellebores, blueberfall color can be ries, rhododenbland or breathdrons or Mahonia taking — but I “Soft Caress,” that welcome either emerge next to Erica B. Grivas one just as happily. complementary Get Growing Partly it’s just a neighbors in warm touchstone to mark colors. our moment in the Who needs plants year, but mostly, when you know to add blue? You could also add the “Big Dark” is coming — apblue in the hardscape or décor proximately four to six months of in the form of slate pavers, a slate gray skies — you’ll hoard any turquoise blue pot or a navy-blue color you can. bench. Which colors make your heart If you want to add some sing? I love solids in apricot yelpumpkin spice to your garden’s low, cherry red and pure orange color palette, take this time more than muted blends or varto snap pictures of plants and iegated leaves. I like the darkest combinations you’re loving in the purple as an accent but find too neighborhood. If you don’t know much of it gloomy. the plant’s name, Google lens is a There’s no fall foliage I can helpful tool. Accessed through the think of that doesn’t pop next to Google app, click on the camera blue. Look to evergreen foliage to symbol, and it searches the web add this accent. Any sunny garden for similar images. I’ve had the has space for footstool-sized best success with plants with juniper “Blue Star” or 3-by-3 foot distinctive features. Crepe myrtles Picea glauca “Conica.” If you have were mistaken for cherries, for room for a regal tree, try Cupresinstance, I assume because of the sus arizonica “Blue Ice.” For shady similar leaf shape, but the app
Photo by Erica Browne Grivas Fall colors are seen in a symphony of color at the Japanese Maple Garden at the University of Washington Arboretum. nabbed silver-gilded and toothyleaved Potentilla lineata. For the color itself, here are a few favorites I’ve come to love: Red Burning Bush Euonymous alata: Kind of non-descript most of the year, but these are some of the earliest and brightest to fire up in fall. Great for a mixed shrub border, or a come-hither accent
from a distance. Maples: so many. Acer circinatum (vine maple) rubrum, A. saccharum, palmatum ( Japanese maple), especially palmatum hybrid “Red Dragon,” shirasawanum hybrid “Red Dawn” and atropurpureum and aconitfolium types. Dogwoods, especially Kousa dogwood hybrids Sourwood: Oxydendron sp.
bonus of contrasting ivory — dangling bells in autumn Panicle and Oakleaf hydrangeas — some very nice reds and purples. Gold Gingkos: Gingko sp. create such a luminous canopy of buttery fall sunshine that I bought
SEE COLORS, PAGE 7 PROVEN RESULTS
What My Clients Are Saying...
Founding Member | Managing Broker Senior Global Real Estate Advisor 206.399.5842 | Laura.Halliday@rsir.com
“Laura is a wonder. She is kind, professional, and had great ideas as to how to show the house to its best advantage (remove many, many things so that people can see the house). She is a wonderful advocate for you, and she really is right on top of things. She is very honest which is such a wonderful gift and makes it so easy to work with her. She really knows a house and the neighborhood and can help you find your way—either in or out! Her negotiation skills are outstanding, and she will do her very best for you—and her very best is terrific! I cannot say enough good things about her.” - Julie Hooker
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PENDING IN BROADMOOR 3326 East Shore Drive | Priced at $6,200,000 — Behold this American Classic…it’s like your average traditional home that got a modern makeover while still retaining the details that define its proud heritage. Fabulous mouldings and built-ins: yes. A cook’s kitchen with an eat-in “nook” seating and an adjoining family room: love this! An oversized two-car garage leading into a clever and practical mudroom: wish all homes had this! Did I mention the indoor-outdoor flow? Killer!
A CONTINUED LEGACY
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4
NOVEMBER 2021
PROPERTY, FROM PAGE 1 Selling at percent of last listed price: 100.98 percent Over $2.5M market time is 22 days, and there were nine sales with an average price of $4,243,056 July 15, 2020, through Oct. 15, 2020: 45 sold homes Average Sales Price: $2,153,997 Average Days on Market: 45 Average Price Per Square Foot: $826.97 Lowest Sales Price: $340,000 Highest Sales Price: $10,000,000 Selling at 100.2 percent of last listed price For 98112 July 15, 2021, through Oct. 15, 2021: 118 sold homes Average Sales Price: $1,564,307 Average Days on Market: 21 Average Price Per Square Foot: $666 Lowest Sales Price: $375,000 Highest Sales Price: $8,800,000 Selling at 102.42 percent of original listed price 15 of these are $2.5M-+, and the average market time over $2.5M is 15 days July 15, 2020, through Oct. 15, 2020: 142 sold homes Average Sales Price: $1,033,500 Average Days on Market: 38 Average Price Per Square Foot: $653 Lowest Sales Price: $325,000
Highest Sales Price: $10,000,000 Selling at 101.39 percent of original listed price My takeaways: • There were 37 sales in the area in 2020 under $1 million, 30 so far in 2021; inventory in this price point remains stable. • Year-over-year real estate activity in our neighborhood remains strong and steady with sales up, prices up, and days on market down. • In 98112, YTD 2020 vs. YTD 2021 shows a nearly 25 percent price increase. • In Denny Blaine, Broadmoor and Washington/Madison Park, the average home-price increase year over year is nearly 30 percent. While this is a small sample size, these gains reflect not only our lack of inventory but all the reasons we love living in Madison Park — among other things: great neighbors and schools, the cafés and shops in the village, access to Lake Washington and proximity to myriad workplaces. Some things to consider: • Time and again, we see that today’s buyers seek homes that are move-in ready. If your house doesn’t present well and isn’t staged properly, the home for sale down the street likely will be and will sell for more. Work with an agent who will advise you about updates and listing prep; if you need help preparing your home for sale ask about our Compass Concierge program. • While we remain a seller’s
720 Lakeside Ave S #402 ACTIVE $369,500
market and prices continue to appreciate, we are seeing fewer multiple offers, and buyers are having to compete less than they did only a few months ago. I recommend that buyers do not take a break from their house hunt during the holidays; this is the time to lean into your search as homeowners are typically very motivated at the end of the year and you will find less competition amongst homebuyers as people travel for the holidays, etc. • In this market, broker-to-broker relationships are key. Select an agent who has an excellent reputation amongst their colleagues; it will definitely help you stand out in a multiple offer situation and at the negotiating table. As of press time, there are 11 homes for sale over $2.5M in Madison Park, Washington Park, Broadmoor and Denny Blaine. Two 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 for $14,250,000. If you have given any thought to selling your home, there has not been a better time in recent memory. In closing, I want to thank everyone who has remained committed to serving our community, supporting our local businesses, and improving this city we love.
2329 E. MADISON STREET CAPITOL HILL
Rare opportunity to own or lease this office building in the heart of Seattle! TOM GRAFF & NATHAN BENEDICT 206.441.7900 ewingandclark.com
Evan Wyman Broker/Partner The Wyman Group @ COMPASS
122 Madrona Place E SOLD $3,198,000 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! We have a new addition to the Hinds Team, Katie Hinds!
3619 E Terrace St PENDING $1,395,000
5511 Brooklyn Ave NE ACTIVE $778,000
KATHRYN HINDS Windermere Madison Park 206•650•6488
322 Randolph Ave PENDING $2,275,000
KATHRYNHINDS@COMCAST.NET HINDSTEAM.COM
TAYLOR HINDS Windermere Madison Park 206•434•5102 TAYLORHINDS@WINDERMERE.COM HINDSTEAM.COM
KATIE HINDS Windermere Madison Park 206-434-5103 HINDSTEAM.COM
Pacific Publishing Company – Queen Anne & Magnolia News • Madison Park Times • City Living Seattle
NOVEMBER 2021
A Trusted Legacy Connecting home and life, backed by the heritage of the Sotheby’s brand.
111 27TH AVE E | MADISON VALLEY $1,090,000 | PENDING
2627 WARREN AVE N, UNIT #300 | QUEEN ANNE $1,298,000 | PENDING
620 34TH AVE E | WASHINGTON PARK $2,795,000 | PENDING
2052 23RD AVE E | MONTLAKE $1,995,999 | ACTIVE
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 branch 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
Seattle Japanese Garden
Quarterly Market Report
Seattle International Auto Show
Seattle Japanese Garden is a 3.5-acre urban sanctuary. Winding paths and benches invite you to view the garden slowly and mindfully, in all of its detail—stones, water, lanterns, bridges, buildings, plants and animals. Seasonal changes are constant, and every visit refreshingly unique. Find more information at seattlejapanesegarden.org.
Seattle saw a 43 percent drop in the number of homes for sale compared to this time last year. Realogics Sotheby's International Realty is following the market trends to keep you informed about where the market could be headed next. View the report and sign up for our monthly automated market tracker reports at rsir.com/quarterly.
Join fellow car enthusiasts and others dreaming about their next new car purchase at the Lumen Field Event Center, Nov 11-14. Experience all the new and refreshed car and truck models; plus get the latest information on automotive trends and technology. Tickets and more information at seattleautoshow.com.
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NOVEMBER 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 | University District | $8,000,000 | DavisonApts.com
Pending | Lake Washington Waterfront | $7,495,000
Active | Capitol Hill | $2,795,000 | 904CapitolHill.com
Pending
Pending
Pending
Pending
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
Nikki Betz Sales Broker 206.919.1870
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
NOVEMBER 2021
7
Brewing up new opportunities
Brewery to open new location in Queen Anne By Jessica Keller
Madison Park Times editor Chris Moore, local entrepreneur, has big plans for a vacant warehouse in Queen Anne. Moore, Queen Anne resident and cofounder of Old Stove Brewing in Pike Place Market, and his partner, Brian Stan, announced plans last month to expand their brewery to a new location in Queen Anne. The pair plans to open Old Stove Brewing Ship Canal, a
production brewery, taproom and beer garden at 600 W. Nickerson St., near the Lake Washington Ship Canal, north of Seattle Pacific University. Plans call for the development to be 24,000 square feet with room to grow. The facility is slated to open in 2022. Moore said, when choosing a location, the area off of Nickerson was ideal because it had the space needed to expand their operations and offer a venue for live entertainment in the form of music. It is also part of an area that has its roots in the maritime industry, and Moore said paying homage to heritage and community are central to Old Stove Brewing’s philosophy. As well, rather than tearing down and rebuilding, plans are to rehab the old building, which is also important to Moore. “That’s our DNA, and to have
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the chance to do that in an old, historical maritime building in Queen Anne, Seattle, is a big deal,” Moore said. “It’s going to be a big deal to have a brewery that celebrates the maritime industry.” Along with the restoration of an old warehouse, Moore said they will bring a piece of brewing equipment back to life. They will install Fremont Brewing’s original 30-barrel brewhouse at the new Ship Canal facility. Moore said the brewhouse kept Fremont Brewing going until 2017, and he and his partner are proud to take over the equipment that had so much success. With the move, Moore said the current Pike Place Market location, which was opened in 2016, will be used for smaller batches of brew, while the Ship Canal location will be the hub for its larger operations. Moore said one of the reasons for the expansion came from COVID-19. The brewery started canning
its beers during the pandemic because it couldn’t sell anything else, he said. But Seattleites’ willingness to drink canned ales and beers and desire to support smaller craft breweries allowed Moore and his partner to consider expanding more seriously. Once the brewery is operational, Moore expects it will increase its production and retail sales in Seattle. As well, all brewing, taproom and beer garden operations will create 60 new jobs at the new location with additional growth over time. “It’s a unique opportunity to do good in Seattle,” Moore said. In addition to locating in an area steeped with maritime history, Moore said this expansion is a way to further grow the craft brewing industry in that north side of Seattle Pacific University. “When you get a concentration of breweries together, it becomes a district,” he said. “So, the hope
“It’s going to be a big deal to have a brewery that celebrates the maritime industry.” — Chris Moore, Entrepreneur
is that this emerging maritime district gets some other breweries in it so it becomes a sought out district.” He also sees an opportunity to create a place in the neighborhood where people can enjoy some food and music with their brews, adding the facility will have some sort of food court, although he does not know what the scale of that will be yet. Moore said, if all goes well, Old Stove Brewing Ship Canal will begin limited operations from the site this fall, but he anticipates a full-scale opening next spring. Visit Old Stove Brewing at www.oldstove.com.
Call me today. WALLY GREEN 206-322-8744
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230967
4020 E MADISON ST STE 102 SEATTLE
THERESA TRUEX PREMIER DIRECTOR | WINDERMERE REAL ESTATE MIDTOWN (206) 972-7768 • ttruex@windermere.com theresatruexproperties.com
theresatruexproperties.com
Theresa Truex MADISON PARK PROPERTIES
LADDERS FOR LIGHTS!
Photo courtesy Old Stove Brewery The owners of Old Stove Brewing, situated at Pike Place Market, will be opening Old Stove Brewing Ship Canal, a new production brewery, taproom and beer garden with space for music events, at this vacant warehouse at 600 W. Nickerson St. in Queen Anne. COLORS, FROM PAGE 3
Get the tools to climb, attach, string, plug in, hang up, stick, staple and more!
Stewart
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1761 Rainier Ave. • 206-324-5000 • www.TheStewartLumberCo.com
a dwarf “Mariken” to keep in a pot by the front door. It only gets 2 feet tall, but it reminds me of dinosaurs, and oh, that color. Birches: Betulus sp. White or blush-toned bark and bright yellow foliage. Enough said. The witch-hazels (Hamamelis) and their cousins: in the Hamemilidaceae family — winter hazels (Corylopsis). The UW arboretum is a great place to view these right now. Eastern Redbud: Cercis occidentalis Golden Katsura: Cercidiphyl-
lum japonicum — pure yellow with more heart-shaped leaves Carpinus betulus “Fastigiata” — tiny toothed leaved turn golden yellow. Orange - Orange/Red Japanese Maple Acer palmatum “Waterfall” Cercis canadensis “Forest Pansy” — a blend of orange, yellow and purple colors, but they’re vivid and distinct, with heartshaped leaves. Cotinus — likewise but with bold, round leaves like mouse ears. Stewartia — mouth-watering orange-red with lovely peeling bark. Parrotia — ironwood — beauti-
ful bark and star-shaped leaves Fothergilla –— another witch hazel relative with white bottlebrush flowers followed by a great foliar show. Don’t overlook perennials for your fall color guard, either — some go boldly into that good night of winter. Perennial geranium, Geranium “Rozanne” takes on red tones on its maplelike leaves. Amsonia hubrechtii turns a beautiful butterscotch, as do most hostas. For some comprehensive lists, check out thepaintboxgarden.com by Janet Davis for a series of blog posts titled Fall Foliage.
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NOVEMBER 2021