As the temperature starts to slowly drop, sale prices in Madison Park continue to rise. There were 4 single-family homes sold last month, compared to 3 in August 2016. The highest list price last month was $2,370,000 and sold for $2,368,000. In August 2016, the highest list price was $1,495,000 and sold for $1,545,000. According to the Northwest Multiple Listing Service, the median home price in Madison Park is at a high of $1,528,000, $243,000 more than August 2016.
Condominium sales are also showing strength in the Madison Park neighborhood. Like single-family homes, condos had one more sale last month than August 2016. The average sold price has jumped from $555,500 (2016) to $679,800 (2017). The median price for a condo is now up to $697,000, double than where numbers were in August 2016. The cumulative days on market have dropped from 28 days to just 13 days.
Washington Park is keeping up with Madison Park is the market with their rising prices! The highest list price last month was $4,330,000 and sold for $4,000,000. In August 2016, the highest list price was $1,750,000 and sold for $1,925,000. The median list price has increased from $1,860,000 (2016) to $3,035,000.
There are currently 11 active listings in Madison Park and 8 pending. In Washington Park, there are 4 active listings and 0 pending. For more information about real estate in Seattle contact Ewing and Clark or stop by our office at 4108 E Madison Street!