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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/

Syndicated from Curbed Seattle

Houses are coming back onto the market after the holiday hiatus. One of the first is this 1926 Craftsman that has been elegantly updated. The listing price, $1,880,000. That’s a lot of elegance.

 NWMLS

A traditional fireplace and hardwood floors are welcome and expected in a pre-Depression era house. Coved ceilings and bay windows provide relief from boxy rooms and boring lines.

 NWMLS

It is a three bedroom, three and a quarter bathroom, two story over a garage and ground floor; which means walking up steps to get to the front door. The master bedroom is made distinctive by a window that may not have been in the original. Following the outline of a dormer is a large triangular window, an appealing feature from the outside. From the inside, its shape is reflected by a ceiling that is repeated similar angles. The step too far would’ve been trying to make the french doors that lead to a private balcony into triangles, too.

 NWMLS

Downstairs in the 3,050 square foot house is an updated kitchen with beautiful cabinetry, and enough extra burners and counter space for large parties. Maybe that’s why the wine rack holds fifteen bottles.

 NWMLS

Want to store even more wine? There’s a wine cellar built into a closet that can hold a couple hundred more bottles. It’s always good to be prepared. That wine closet may be close to the media room, another convenience if you decide that tonight’s movie would pair well with white wine.

 NWMLS

The house sits on a 4,007 square foot corner lot, one less neighbor, maybe a bit more noise. It’s fenced, and emphasizes gardens over lawns. Enjoy the cobblestone patio, weather permitting of course.

 

Another Early Design Review meeting has taken place to go over the design options for the building that will replace City People’s Garden Store, and where a PCC Market is planned. Click here to download the full proposal. Key points are summarized in this post…

“The 2939 E. Madison St. project is a proposed development of a 4-story mixed-use project featuring retail and residential use within the Madison valley neighborhood. The retail level on the street level creates an urban, pedestrian lifestyle experience. The residential apartments above with wide variety of residential unit types accommodates the increasing population in the neighborhood and adds a layer of “light’s on” security to the neighborhood.”

Development Objectives:

  1. Durable materials that weather gracefully.
  2. Heigh Ceiling Neighborhood Grocery Store.
  3. Combined entries & deep recessed plaza with weather protecting awning.
  4. Recessed street level provides friendly pedestrian experience.
  5. Large glazing in the storefronts to diminish the barrier between.
  6. Structured wire lattice.

Design Review Proposal – Option 1:

The new building engages E. Madison St. with retail spaces at street level along the pedestrian way. The residential entry is located at the North end of the site, entering from Dewey Pl. E. Vehicular entrance to the parking structure garage and loading dock is located off Dewey Pl. E. The courtyard scheme with interior open corridor maximize FAR. Residential units are oriented equally facing all directions.

DR Option 1

Design Review Proposal – Option 2:

The new building engages E. Madison St. with retail spaces at street level along the pedestrian way. The residential entry is located at the North end of the site, entering from E. Madison St. Vehicular entrance to the parking structure garage and loading dock is located off E. Madison St. The deep recess “V” scheme provides relief to the bulky massing of the building. Residential units are oriented equally facing all directions.

DR Option 2

Design Review Proposal – Option 3 (preferred):

The new building engages E. Madison St. with retail spaces at street level along the pedestrian way. The residential entry is located at the North end of the site, entering from E. Madison St. Vehicular entrance to the commercial parking garage and loading dock is located off E. Madison St. Vehicular entrance to the residential parking garage is located off Dewey Pl. E. The three tier “L” scheme provides relief to the bulky massing of the building and provides opportunity to hold the parking garage back the property line for landscaping screening. Residential units are oriented equally facing all directions.

DR Option 3

Less than two months after the new 520 Bridge opened, hundreds of residents who live nearby in Laurelhurst, Madison Park, Medina, Clyde Hill, Hunts Point, and Yarrow Point have submitted noise complaints. They are hearing a loud, sporadic thunking noise, which is worse at night and even disturbing some residents’ sleep.  

The cause of the noise? The new bridge’s expansion joints. Despite miles of noise walls and the latest in sound-muffling technology, the new 520 Bridge is generating far more disruptive noise than anticipated.

More than 200 complaints have been registered with WSDOT. “Traffic on the old bridge was background noise. You could tune it out. This is 24/7, every day, erratically and constantly,” Medina resident Gretchen Stengel told the Seattle Times.

After receiving the complaints, WSDOT dispatched sound-measuring crews to determine the extent of the problem. Their results will be reported in a June 13th Medina City Council meeting.

“There are no simple fixes for the sound generated by expansion joints, and WSDOT wants to make sure that we are thoughtful and creative in exploring ideas,” said Stacey Howery, a representative of the 520 Bridge Replacement Program.

Although ordinances specify a limit of 55 daytime decibel levels, and 45 decibels between 10 p.m. and 7 a.m., Medina’s Deputy Mayor Sheree Wen has read a peak of 93 at at 8:22 a.m. on a Saturday morning from her home at Evergreen Point Road. Just minutes later, she recorded a peak of 98 from the Evergreen Point Park overlooking the bridge. “The new bridge has generated tremendous noise and disrupted residents’ daily lives,” she said.

Featured photo source: Ellen M. Banner for The Seattle Times, showing Medina Mayor Alex Marcos, Councilmember Cynthia Adkins, and Deputy Mayor Sheree Wen from left to right.