Author

Angela Brennan

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 *see below

Just like most of Seattle, Madison Park and Washington Park continue to climb in price. Last May there were 6 sales in the neighborhoods combined and the median price for a single-family home was $1,367,500. This past May the median price for a home has gone up to $1,922,500! The average list price in the area has jumped from $1,621,250 to $1,873,000 in just one month! There are currently 13 single-family homes active in the two neighborhoods. The highest active listing price is $12,850,000 and the lowest is $700,000. 

                 *see below

There were 3 condo sales last month, which is 3 less than last May (2016). The average sold price for a condo has made a tremendous jump from $575,492 to $919,000. According to the Northwest Multiple Listing Service, there are currently two condos active and 4 pending. 

Contact your local real estate agent for their expertise in the Madison Park & Washington Park neighborhoods!

The photos above:

Extraordinarily private & expansive 120+ ft lakefront estate with level lawn, lush grounds, swimming pool, hot tub, & dock. Open concept William Bain designed home with second story added during extensive remodel. All main rooms look onto the stunning setting. Designed for indoor-outdoor enjoyment, rooms open to grounds through the many glass doors. Paneled living room, sandstone fireplaces, Carrarra marble kitchen, family room, glorious master suite! Choice location near shops, restaurants & downtown!

5 bedrooms & 4.25 bathrooms – 6,020 sq ft. 

Available for $12,850,000 

 

Join thousands of participants and supporters as they come together to support the fight against cancer through Fred Hutchinson Cancer Research Center! Run (or walk) along the western shore of Lake Washington, while also taking part in the 10K Run, Zillow 5K Run/Walk, or the Berts Apple Market Kids’ Run!

All donations and a portion of event proceeds will benefit Seattle’s Fred Hutchinson Cancer Research Center.

All participants and supporters can enjoy food, music, and the fun at the Party-In-The Park at the Finish Line!

Saturday, June 10

  • 9:00am-1:00pm – Packet Pick-up at Madison Park Starbucks

Sunday, June 11

  • 6:30-8:30am – Shuttle bus service from Madison Park to Ferdinand Park for 10K Run starting line.
  • 6:30-7:30am – Shuttle bus service from Madison Park to Leschi Park for the Zillow 5K Run/Walk starting line.
  • 7:30am – Last bus leaves Madison Park for Leschi Park for Zillow 5K Run/Walk starting line.
  • 7:00-8:00am – Registration and packet pick-up at Leschi Park for Zillow 5K Run/Walk.
  • 7:00-9:00am – Registration and packet pick-up at Ferdinand Park for 10K Run.
  • 8:15am – Last bus leaves Madison Park for Ferdinand Park for 10K Run starting line. Start time for Zillow 5K Run at Leschi Park, followed by Zillow 5K Walk.
  • 8:45-11:30am – Party-in-the-Park at Madison Park.
  • 9:00am – Start time for 10K Run at Ferdinand Park.
  • 10:00am – Awards ceremony and raffle drawing at Madison Park.
  • 10:15am – Start time for BERT’S Red Apple Market Kids’ Run in Madison Park.
  • 10:30am – Post-race raffle begins

Head to their website for more info!

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Madison Park real estate, including Washington Park, continues to be strong in 2016 as was the previous year.  Fifty-seven (57) single-family homes sold in 2016 and fifty-five (55) sold in 2015. The median sales price in Madison Park & Washington Park actually went down in 2016 ($1,545,000 from $1,650,000), but the price per square foot actually increased to $558.14 from $513.21.  The highest sale in 2015 was a Washington Park home in $5,750,000 and the highest sale in 2016 was a Washington Park waterfront home for $5,000,0000.

Madison Park and Washington Park condos also were strong.  Condos sales increase in 2016 (39 sales) versus 31 sales in 2015.  Unlike single family homes in the area, the condos median price went up in 2016 ($510,000) from 2015 ($505,000).  The price per square feet also increased $593.94 from $523.53.  The highest condo sale in 2016 was $2,000,000 while in 2015 was $2,390,000.

The overall real estate market in the region (area covered by Northwest Multiple Listing Service which serves 23 Washington State counties) saw an 8.1 increase of sales in 2016 when compared to 2015 with inventory at a record low for most of the year.  For the 23 counties, the median sales price increased 8.9 percent from $310,000 in 2015 to $337,500 in 2016.  Condos, which make up a smaller share of the market, were actually up 12.6% while single-family homes increased 8.7%.

Inventory was tight throughout the year, there was an average of 1.86 months of inventory in 2016, compared to 2.4 months in 2015.  King County was the tightest with only 1.1 months of supply.  A balanced market is generally considered to be between 4 and 6 months of inventory.

The luxury real estate market was strong in 2016, with over 3,251 home sales over $ 1million compared to 2,676 in 2015: over a 21 percent increase.  The number of condos over $500,000 also increased with 1,711 sold in 2016 versus 1,459 half-million dollar sales in 2015: also over a 21 percent increase.

2017 seems to be taking over where 2016 left off.  Low inventory remains and prices remain strong.  As always, to maneuver the market, reach out to your local real estate broker to navigating the Seattle real estate market.

 

Sold by Ewing and Clark in Summer of 2016 for $5,000,0000

http://www.ewingandclark.com/nwmls-sold/917506-400-39th-ave-e-seattle-wa-98112/

 

Sold for $5,195,000 in April 2015 by Ewing and Clark

http://www.ewingandclark.com/nwmls-sold/755640-438-39th-ave-e-seattle-wa-98112/