& news QueenAnne&Magnolia news Home & Real Estate QueenAnne&Magnolia news How to Prolong the
facebook.com/QueenAnneMagnoliaNews
Serving Queen Anne & Magnolia Since 1919
@ qamagnews
www.QueenAnneNews.com
SEPTEMBER 12, 2018
VOL. 99, NO. 37
Seattle’s Changing Market Homebuyers who tired of a competitive real estate market filled with multiple offers, escalation clauses, and waived contingencies can start coming out of the Sam Konswa woodwork again. As anticipated, an increased volume of QUEEN ANNE listings is leveling REAL ESTATE both prices and inventory levels. This translates to longer lengths of time on the market, fewer competing offers, lower and less frequent escalation clauses, and even the occasional price reduction! Inventory levels for single-family homes were up by over 60% last month and condos were elevated by over 178%. While data never lies, summer travel and vacations histori-
cally make July and August difficult months to use as measuring rods for market predictions. Nonetheless, since the month of May, we started to see the tides shift. Real estate analysts and market economists anticipated this shift in 2018. Most predicted a leveling of inventory to occur in the fall, and continue throughout the end of the year. The Federal Reserve’s confidence in the national economy’s strength yielded two rate increases thus far, and there is an ongoing debate on whether they will raise rates in one or both of the remaining quarters of 2018. With a mildly elevated interest rate and a slight leveling of inventory, we can expect to see a less dramatic growth in home values. For the most part, sellers on Queen Anne and Magnolia are receiving strong offers from buyers, even if it takes properties a week or two longer to sell. One message we hear from buyers exhausted from the com Changing Market Page R7
Queen Anne Home Sales (Low to High) Address
Bed
Bath
Sq Ft
Built
Days on Asking Price Market
Sold Price
Sold Price/ Asking Price
1025 5th Ave W
4
2.75
3676
2018
5
$3,495,000
$3,495,000
100.00%
200 W Highland Dr #504
2
1.75
1937
2009
1
$2,495,000
$2,750,000
110.22%
1620 8th Ave W
3
2.5
4030
1922
60
$2,295,000
$2,300,000
100.22%
709 W Garfield St
4
3.25
3870
1927
9
$2,395,000
$2,245,000
93.74%
356 Galer St
4
2.25
4710
1905
216
$2,250,000
$2,200,000
97.78%
1956 7th Ave W
3
2.25
2940
1928
7
$1,850,000
$1,910,000
103.24%
1808 1st Ave W
5
3.25
3499
1907
25
$2,100,000
$1,885,000
89.76%
121 Aloha Street
4
2.75
3520
1928
42
$1,950,000
$1,750,000
89.74%
1233 9th Ave W
4
2.25
3190
1930
16
$1,495,000
$1,495,000
100.00%
1621 4th Ave N
4
2.25
2390
1923
32
$1,395,000
$1,395,000
100.00%
2927 3rd Ave N
4
2.75
3140
1913
38
$1,325,000
$1,301,250
98.21% 107.17%
941 W Emerson St
3
2.5
2230
1987
6
$1,185,000
$1,270,000
2114 1st Ave W
3
2.5
2150
2013
20
$1,399,000
$1,250,000
89.35%
3219 13th Ave W
4
2.75
3980
1915
12
$1,249,000
$1,249,000
100.00%
802 W Etruria St
3
1.75
2160
1940
6
$1,225,000
$1,220,000
99.59%
1215 6th Ave N
2
1
1310
1918
24
$1,300,000
$1,200,000
92.31%
501 Roy St #M312
2
2
1590
2007
8
$1,050,000
$1,138,000
108.38%
2575 13th Ave W
3
2.5
2000
2018
47
$1,135,000
$1,135,000
100.00%
2420 8th Ave N #205
3
2
1500
1991
3
$1,050,000
$1,050,000
100.00%
1536 2nd Ave W
3
1.75
1440
1905
10
$1,050,000
$1,050,000
100.00%
Magnolia Home Sales (Low to High) Address 4117 W Barrett St
Bed
Bath
Sq Ft
Built
5
4.5
3,460
2013
Days on Asking Price Market 21
Sold Price
Sold Price/ Asking Price
$2,395,000
$2,160,000
90.19% 102.50%
3633 35th Ave W
5
3.5
3,750
2018
5
$1,999,950
$2,050,000
2632 26th Ave W
3
2.75
2,530
2012
29
$1,650,000
$1,635,000
99.09%
4025 Burton Ave
0
0
4,420
2018
0
$1,615,000
$1,615,000
100.00%
2599 Crestmont Place W
4
2.5
3,040
1938
11
$1,580,000
$1,500,000
94.94%
2414 W Crockett St
4
3
2,840
1992
31
$1,495,000
$1,500,000
100.33%
3001 23rd Ave W
4
2.5
3,060
1999
7
$1,350,000
$1,350,000
100.00%
2520 37th Ave W
3
2.5
2,940
1945
28
$1,375,000
$1,350,000
98.18%
3201 W Lynn St
2
2.75
2,814
2009
16
$1,239,500
$1,235,000
99.64%
3243 26th Ave W
3
2.5
2,330
1996
8
$1,185,000
$1,180,000
99.58%
2307 W Raye St
3
3.25
1,941
2018
6
$1,150,000
$1,175,000
102.17%
3021 W Garfield St
4
1.75
2,210
1950
6
$1,050,000
$1,060,000
100.95%
2628 W Plymouth St
3
1.5
2,700
1954
8
$1,150,000
$1,055,000
91.74%
3302 39th Ave W
3
1.75
2,500
1941
15
$1,080,000
$1,040,000
96.30%
4040 36th Ave W
4
2.5
3,160
2007
1
$949,000
$1,000,000
105.37%
3431 39th Ave W
3
1.75
2,340
1952
10
$950,000
$950,000
100.00%
4604 34th Ave W
3
2.5
2,270
1909
38
$919,000
$950,000
103.37%
3229 22nd Ave W
4
1.75
2,360
2018
3
$1,995,000
$899,000
45.06%
2911 W Howe St
3
2
1,580
1927
6
$795,000
$890,000
111.95%
2817 34th Ave W
3
2.5
2,100
1987
11
$895,000
$888,888
99.32%
Life of Your Deck
Follow these steps to maintain your deck and keep it looking spotless all year long. By Jim Coshow, Dunn Lumber A deck is a significant investment, so of course you want to protect it and extend its lifespan. Prolonging the life of your deck (a well-built deck can last several decades if maintained properly) can be accomplished with seasonal maintenance—think of it like putting on sunscreen. If you wait to see the sunburn, the sunscreen won’t be much help. But if you apply the sunscreen before you begin to burn, you spare yourself the discomfort. In the same way, your deck needs protection from the elements. It will last longest and look best if you reapply that coverage before it has worn away. The type of deck you have will dictate your maintenance schedule and process. There are two primary types of decking
materials: wood, which generally requires staining and refinishing every year or so, and manufactured materials, which can easily be cleaned once or twice a year using one of the many easy-to-use products available for that purpose. Here are the basic steps you should take to keep each of them looking nice for the long haul.
Wood Decks
Cedar: Cedar can last more than 25 years with proper care, which includes routine cleaning and restaining—and may involve stripping and restaining. Softwood: Modified softwoods such as Kebony offer a durable, stable, rot-resistant Deck Page R7
Queen Anne and Magnolia Neighbors Did you know that the Fall Real Estate Market in Seattle is almost as brisk as the Spring Market?
CB Bain South Lake Union
I hope that you have enjoyed this wonderful Seattle summer. As you wind down your vacations and begin to think about Fall, thoughts often turn toward enjoying our indoor spaces. Had you considered listing your home this year but thought that you missed the Spring market and that it is too late? Think again! Fall often brings a second surge to our city’s real estate market. Kids are back in school, days are shorter and the cool weather begins to make buyers ponder and contemplate their next home or where they might want to live and entertain for the holidays. If you are interested in buying or selling a home this Fall, or maybe both, I would love to help you. I have sold a number of homes in Queen Anne and Magnolia over the years including quite a few in 2018. We have seen an upsurge in market activity in early September and it is not too late to sell or to find your dream home for the holidays. Whether your are contemplating a move this year, or in the future, contact me to discuss how I can help you to realize your real estate goals and dreams! I would be delighted to provide you with a complimentary and confidential consultation!
206.919.6605 | lisaturnure@cbbain.com | lisaturnure.com
Experienced. Innovative. Trusted.