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Madison Park Neighborhood Blog

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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!

 

We are halfway through the year and the Seattle real estate market is still the talk of the nation. Inventory is still low and prices are still high throughout King County. The real estate market in Madison Park & Washington Park is still strong compared to the first half of 2016. The median cost for a single-family home as jumped from $1,430,000 (2016) to $1,800,000 (2017) and the lowest price has gone up from $656,000 to $885,000. The average list price has increased from $1,628,767 to $1,810,310, as well as the sold price that saw a climb from $1,662,492 to $1,818,759. There were 2 fewer sales these last 6 months, but all sold in the same time frame of about 35 days. There are currently 22 active single-family homes in the Madison Park & Washington Park neighborhood and 11 pending.

Condominium in the area are also rising in price. The median price for a condo has gone up from $545,000 to $622,000 and the lowest has increased from $255,000 to $310,000. The average sold price for a condo is now $787,200, last year’s price was a bit lower at $722,814. There is currently 3 active condominium listing and 2 pending.

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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