Buying a Home in Madison Park



Madison Park, Seattle
Madison Park, Seattle

The Madison Park real estate market was steady in February.  There were six sales last month compared to eight (2015), four (2014), and eight (2013) sales in the same month for the previous three years.  Currently, there are 12 active listings totaling just over $28 million and 7 pending sales totaling just below $11 million.  The median year-to-date sales price in Madison Park is up from $1,284,000 to $1,465,000 and the average year-to-date sales price is up from $1,242,364 to $1,689,641.

For similar information on Capitol HillDenny Blaine real estate, or Madrona real estate please click the links to each of these Seattle neighborhoods.

Madison Park is a part of “Central Seattle” as defined by Seattle real estate agents.  Central Seattle real estate basically includes the area from the Montlake Cut to I-90 and from Lake Washington to I-5.  The first two months are down ever-so-slightly with 165 sales in 2015 versus 158 sales in 2016.  Currently, in this central Seattle area, there are 177 active listings.

If you have any questions about the Seattle real estate market, please feel free to reach out to a local Seattle real estate agent.

Madison Park - 1510 37th Ave. E - $2,895,000
Madison Park – 1510 37th Ave. E – $2,895,000

It’s no secret that 2014 was a huge success for the real estate market in Seattle, and particularly in central Seattle neighborhoods. Homes were purchased, sold, and many transactions were agreed upon last year. Now that we are a couple of months into 2015, let’s get an update on what the real estate market is looking like thus far in Broadmoor, Denny Blaine, Madison Park, and Washington Park.

According to the Northwest Multiple Listing Service, 30 homes in the four neighborhoods were sold between January 1, 2015 and April 20, 2015. The median sales price of those 30 homes was $1,400,800, and they were on the open market for an average of 56 days before they were purchased. The total volume of those 30 transactions totals $42,024,000. 2015 is certainly not off to a bad start!

The breakdown of the homes that have sold thus far in each neighborhood are as follows:

So far in 2015, eight homes have sold in Broadmoor at an average sales price of $1,872,250. Those homes averaged being on the market for 18 days. Four homes have sold in Denny Blaine so far this year at an average sales price of $1,060,750. Thirteen homes have sold in Madison Park at an average price of $1,090,769. Those 13 homes averaged being on the market for 79 days. Five homes have sold in Washington Park this year at an average sales price of $1,724,600, and were on the market for an average of just 19 days.

As always, these closed sales statistics have to be taken with a grain of salt, as the number of sales is low enough that one or two sales can distort the average. However, these numbers are tough to ignore, especially when considered within the King County and Seattle real estate marketplace as a whole.

Please note that while these numbers were gathered by the Northwest Multiple Listing Service; Statistics were not compiled or published by the Northwest Multiple Listing Service.

Feel free to contact me for a complimentary price opinion of your home, or click here to see what is currently available in Madison Park, Washington Park, Denny Blaine, and Broadmoor.

Kristine Losh

Ewing & Clark, Inc.