The Madison Park real estate market (including Washington Park real estate) had five sales in February. Five sales would be impressive if not for last year.Last year there were twelve sales in February compared to one sale in 2012 and two sales in 2011. There are currently thirteen active listings in the Madison Park / Washington Park area totaling nearly $22 million and twelve sales pending with a current list price of nearly $19 million.
Central Seattle real estate, which basically includes the area from the Montlake Cut to I-90 and from Lake Washington to I-5, is showing signs of strength. While the median year-to-date sales price is down from $619,000 to $577,475, the average year-to-date sales price is actually up from $729,042 to $736,659. In addition, year-to-date sales for the first two months are up with 88 sales in 2014 versus 79 sales in 2013. Inventory is also tighter than last year down from 128 to 93 active listings in the month of February.