April 2021
Madison Park Times
Serving East-Central Seattle since 1983
Real Estate
MADISON PARK - WASHINGTON PARK - MADISON VALLEY - DENNY-BLAINE - MADRONA - LESCHI
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of it. hat a difThroughout the ference greater Seattle area, a year inventory — the makes. One year ago, homes available to life skidded to a stop buy — is at stunin the still-early days ning lows. There is of the COVID-19 only three weeks of pandemic, as we supply on the market looked at everything — what analysts call with uncertainty and Chris Sudore the absorption rate. not a little fear. Workers were sent home, Property Views Remember, real estate industry analysts call some businesses shut a neutral market one down completely, and in which there is four the real estate industry to six months of available homes. went quiet. In our neighborhoods in and Real estate a year later has not around Madison Park, there is just rebounded, but we’re seeonly two weeks’ worth of invening activity on a pace like — or tory. In these top neighborhoods, in some cases, surpassing — the and in certain price points and height of the market in 2017. It’s not necessarily despite the paninstances, sellers are fetching 25 to 30 percent over their asking demic, but in many ways because
Homes Closed in Madison Park, Madison Valley, Washington Park, Denny Blaine, Broadmoor, Leschi and Madrona from February 22-March 22 Sold Address
Bed
1633 29th Ave 1626 39th Ave E 719 30th Ave 826 31st Ave E 356 29th Ave 1118 33rd Ave 3407 E Marion St 410 30th Ave E 1432 32nd Ave 3507 E Alder St 611 29th Ave E 1629 35th Ave 537 30th Ave 2904 S Washington St 111 34th Ave E 1615 35th Ave 1100 Shenandoah Dr E 2068 42nd Ave E 3316 E Republican St 3320 E Republican St 3724 E Highland Dr
Bath
Sq Ft
2 3 4 3 4 4 3 4 3 2 3 4
1 1 2 1.75 1.75 2.75 3 4 2.5 1.5 2 2.5
5 6 5 4 4 4 6 6 3
3.25 2.25 3.75 3 3.25 3.5 4 4 2.5
Built
1,600 1,140 2,100 2,840 2,240 2,830 1,950 2,570 2,420 1,725 2,130 2,520 2,800 3,724 3,080 4,200 3,800 2,794 4,091 4,141 3,784
Days on Mkt
1944 1906 1907 1913 1905 1903 2002 1915 1993 1902 1908 1910 1913 1900 1951 2008 1940 1994 2021 2021 1925
15 7 5 5 6 110 6 54 3 74 22 5 7 43 5 157 95 7 1 25 117
Asking Price
Sold Price
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
810,000 930,000 1,101,000 1,110,000 1,152,000 1,160,000 1,180,000 1,200,000 1,220,000 1,245,678 1,280,000 1,355,000 1,500,000 1,825,000 1,860,000 1,900,000 1,925,000 2,180,000 2,389,950 2,409,950 2,525,000
$
1,536,123
37
Avg.
prices. It’s a stunning turnaround.
New factors at play
The “new normal” life we’ve all learned to live with has had its drawbacks, losses and sorrows for too many. Seattle’s economy, though, is strong. For people with salaried employment, there has been no disruption in their jobs or paychecks, even as they continue
to work remotely. The pandemic has meant we all spend more time at home. What we need from our homes has changed. More room, more bedrooms, more storage, bigger and better kitchens and usable outdoor space is at a premium. People need dedicated home offices for remote work and schooling. For families, the togetherness has been great, but sometimes everyone needs to chill in a more
799,950 950,000 995,000 1,050,000 925,000 1,240,000 1,180,000 1,248,880 1,095,000 1,299,000 1,295,000 1,195,000 1,498,000 1,845,000 1,795,000 2,000,000 2,150,000 2,200,000 2,389,950 2,409,950 2,695,000
Sold /Asking Price 101.26% 97.89% 110.65% 105.71% 124.54% 93.55% 100.00% 96.09% 111.42% 95.90% 98.84% 113.39% 100.13% 98.92% 103.62% 95.00% 89.53% 99.09% 100.00% 100.00% 93.69%
private space. All of these needs are driving this hot seller’s market. I’ve also noticed that this crisis has made people more deliberate and more decisive when it comes to real estate. That’s necessary now, especially on the buyer side. There is no time to mess around with so few available homes on the market. There’s also a real feeling of
SEE SUDORE, PAGE 4
Highly sought-after NW corner in First Hill Plaza. Recently renovated 2-bedroom, 2.75-bath offers 2,100 sq ft. of fresh minimalist interiors by Seattle interior designer Michelle Dirkse. 1,949,000
$
MOIRA E. HOLLEY moirα@moirαpresents.com 206.612.5771 moirαpresents.com