Madison Park Pharmacy back open

Madison Park Pharmacy hosted a grand opening celebration on June 27.

“We are bringing back much of the pharmacy team who worked at Pharmaca in the old space, which MPPWC now occupies, along with some hand-selected new team members who are thrilled to be part of this new venture,” a press release announcing the re-opening said. e pharmacy is located at 4130 E Madison St.

Letter To The Editor

This article about racist threats in Madison Park is very disturbing .

You wrote an entire article on “Hear Say” not clean journalism. You wrote about what lots of different people said with “no proof.” There is no racism in Madison

Park and this article was clearly written by someone who wants to agitate and start something.

Articles like these actually create and promote racism.

Seattle has a graffiti problem “daily” that does not mean it was targeted toward anyone Madison

Park has crime daily; that does not mean it is targeted at any one person.

No one has the right to assume that crime is targeted toward them. That is very paranoid behavior from people who see themselves as victims.

Nothing in your article makes sense.

All the incidents that took place are clearly random.

You have no right to suggest Madison Park is racist.

Madison Park Times should be ashamed of publishing this article.

Terri Randall

MARKET from Page 1

high-end sellers more willing to negotiate, whether it be on price or assuming closing costs.

e most important message I have for buyers: make an o er. Get o the fence. You may think a seller will not entertain your o er, but with a good agent, you can begin a conversation that may ultimately lead to your new home. Yes, buyers have more time in the luxury market at the moment. However, time and time again we see buyers regret not making an o er a er a home they were interested in closes and they see the nal sales price. Work with an experienced agent who knows how to get deals done.

In the under $1.5M market we continue to see multiple o ers and few contingencies, especially when homes are carefully prepared for market. Incity inventory remains constricted at this price point, and our area still has a backlog of buyers looking for homes. My advice given above also applies to those buyers looking to purchase a home under $1.5M: do not assume that a house is going to sell way over list price with multiple o ers. Make an o er you are comfortable with and get in the game. Because many buyers do not want to get into a bidding war, they choose not to make an o er at all, only to nd out that there was only one o er. Finally, choose a trusted lender who o ers programs to get the interest rate down and most importantly—have your nancing ready to go so you can be competitive.

Here’s a snapshot of the recent housing market stats in our area:

For Denny Blaine, Broadmoor, Washington/Madison Park

Jan 1, 2023 through June 20, 2023:

Homes Sold: 48

Average Sales Price: $1,958,505

Average Days on Market: 35

Average Price Per Square Foot:

$793.55

Lowest Sales Price: $310,000

Highest Sales Price: $5,800,000

Selling at 95% of original listed price

34 of these are $1M+ and the average market time over $1M is 26 days

Jan 1, 2022 through June 20, 2022:

Homes Sold: 55

Average Sales Price: $2,424,592

Average Days on Market: 49

Average Price Per Square Foot:

$874.91

Lowest Sales Price: $350,000

Highest Sales Price: $8,250,000

Selling at 101% of original listed price

For 98112

Jan 1, 2023 through June 20, 2023:

Homes Sold: 131

Average Sales Price: $1,459,759

Average Days on Market: 32

Average Price Per Square Foot: $686.29

Lowest Sales Price: $295,000

Highest Sales Price: $5,800,000

Selling at 98% of original listed price

83 of these are $1M+ and the average market time over $1M is 24 days.

Jan 1, 2022 through June 20, 2022:

Homes Sold: 167

Average Sales Price: $1,673,798

Average Days on Market: 28

Average Price Per Square Foot: $765.78

Lowest Sales Price: $280,000

Highest Sales Price: $8,250,000

Selling at 105% of original listed price

My takeaways:

Rising interest rates are crimping activity and have not come down as expected; some economists predict this may occur in late 2024

Inventory is up in the luxury market and days on market are longer

Under $1.5M we are seeing some listings receiving multiple o ers

Buyers are patient and searching for homes that meet their lifestyle needs (time at home during COVID de nitely created a stronger relationship with home)

Some things to consider:

Sellers: coming on the market at too high of a price typically results in your property “stalling.” We need to analyze the micro-neighborhoods and the most recent sales data to price your home competitively and strategically. If you push price your home can sit, and that may result in longer market times and a larger price reduction versus if the home had come on the market at a reasonable listing price.

Sellers: Presentation is becoming even more important as inventory rises. Cluttered and dark homes fail to captivate buyers’ attention online (virtual showings), resulting in fewer in-person showings and prolonged time on the market. Tackle projects that give you bang for your buck: painting, surface updates, and landscaping.

Declutter—packing more now means packing less later! Make sure every room is inviting, neutral, and appealing to a broad demographic. Hire a broker to represent your home who utilizes staging services.

Buyers: Ask us about lenders that can provide you with ways to circumvent the current higher rates until lower rates come down the road. Be very wise about your credit and have a solid lender relationship when you enter the market.

Buyers: work with a trusted broker with strong agent relationships. is will really help you in a multiple o er situation or if hiccups arise during the transaction.

As of press time, there are 18 homes for sale over $2.5M in Madison Park, Washington Park, Broadmoor, and Denny Blaine. One of the residences is a condominium, and the highest priced single-family home for sale is a waterfront estate with 120 feet of Lake Washington waterfront for $22.5 million.

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. If you need help preparing your home for sale, call me about our Compass Concierge program. Compass fronts the money for certain improvements ( ooring, tile, painting etc.) and you pay the money back at closing.

PROVEN RESULTS

A CONTINUED LEGACY Realogics Sotheby's International Realty ranks amongst the largest, most productive, and fastest-growing real estate companies in Washington with access to 26,000 brokers in 81 countries and territories generating global sales of $167 billion annually.

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

MADISON PARK PLACE

MADISON PARK PLACE

Pat & Diane Colee

WASHINGTON PARK TOWER

MY JULY PICK FROM THE GARDEN My favorite garden flowers....Dahlia's! They fill my vases until October with their wild and crazy blooms! SOLD | BUYER REP SOLD | SELLER REP

2000 43rd Ave E #101 Sought-after Madison Park Place home! This kind of square footage with incredible indooroutdoor spaces and unobstructed lake views is practically impossible to find.

2000 43rd Ave E #503 A rare waterfront penthouse with stunning lake, Bellevue skyline, and Cascade Mountain views. Floor plan and finish work read like a single-family home. Stunning!

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