Market Statistics for Seattle’s Broadmoor Neighborhood

Market Statistics provided here for Seattle’s Broadmoor neighborhood are current as of this post date.

Single Family Properties SOLD in the last 90 days:5

Average SqFt. for homes SOLD 4,976

Average Price Per SqFt. $478.43

Average Days On Market 239 – This number is skewed has one home was on the market for 1128 days. The average days on market for the other 4 homes was 17 days.

High $4,200,000 Low $1,715,000 Median $1,910,000

Sales Price To Listing Price 98.95%

Number of Homes Currently FOR SALE: 2

Average Sq. Ft. 7,590

Average Price Per SqFt. $717.56

Average Days On Market 157

High $6,450,000 Low $4,395,000 Median $5,422,500

Number Of Homes Currently PENDING: 0

Number Of Homes Currently PENDING INSPECTION: 0

Moving Into Seattle’s Broadmoor Neighborhood Has Potentially Become More Expensive For New Residents

Broadmoor’s primary source for funding capital improvement projects and general neighborhood maintenance has been the move-in fee for new Broadmoor homeowners. The move-in fee up until recently was $5,400.00 for all move-ins, this is no longer the case as a new variable collection system has been implemented. As of now, the move in fee for all home sales up to $1,500,000.00 is $5,400.00. The move-in fee for sales in excess of $1,500,000.00 will be based on a percentage of the sales price, the percentage rate will be 0.36%. Currently there are 3 homes available for sale in the neighborhood, if each of the 3 homes sold at asking price, the move-in fees collected would be $7,902.00 (Sales Price $2,195,000.00), $15,822.00 (Sales price $4,395,000.00), and $23,2200.00 (Sales Price $6,450,000). The rate of 0.36% will be in place until June 30th, 2016. On June 30th, 2016 the rate will reset, the new rate will be based on a change in the Consumer Price Index.

Year to date there have only been 3 closed sales in the neighborhood with 3 homes currently Pending.  Given the low volume of sales, it’s understandable that the Board of the Broadmoor Home Owner Association would want to make changes to ensure that the neighborhood’s reserves are at healthy level, as they are vital to fund current expenditures, expenditures which make Broadmoor one of the premier neighborhoods in the city.            

Real Estate Update for Seattle’s Broadmoor Neighborhood

Landmark home on the fairway - For Sale - $6,450,000 - 5 Bedrooms - 5.5 Baths - 9,180 Sq Ft. - Listed By Ewing & Clark Inc.

Landmark home on the fairway – For Sale – $6,450,000 – 5 Bedrooms – 5.5 Baths – 9,180 Sq Ft. – Listed By Ewing & Clark Inc.

 

Like many neighborhoods in Seattle, Real Estate inventory in the Broadmoor neighborhood is low, homes are selling fast, and values are slowly creeping back up to their 2007 highs. The Seattle Real Estate Market is on fire. Zillow just recently indicated that Seattle’s Real Estate market was the 2nd hottest housing market in the country. This certainly bodes well for sellers as it’s a seller’s market and thus a great time to list a home. When looking at the statistics I have provided below, you might notice the that the average days on market for the Broadmoor neighborhood doesn’t look all that impressive, and goes against what’s been stated above. The reason for this is due entirely to the fact that 1 of the 4 homes sold in the last 180 days was on the market for 907 days. Remove this sale from the equations and the average days on market for the 3 recently sold homes drops down to 28 DOM, that’s a solid number given that the average sales price is $1,908,333.

The days on market for the 6 homes currently for sale are also skewed by one listing which has been on the market for 1087 days. Currently all the inventory available for sale is listed above $2,000,000, with 3 homes listed for well over $3,000,000. In light of these facts, it’s likely a very opportune time to sell for someone with a home valued under $2,000,000!

As the Summer months approach the Broadmoor market may cool a little with so little inventory available that would be considered affordable for most buyers looking to move into the neighborhood. But who knows, if the market maintains it’s current pace it could be a great Summer for the Broadmoor Real Estate market.

————————————————————————————————————————————–

Market Statistics provided here for Seattle’s Broadmoor neighborhood are current as of this post date.

Single Family Properties SOLD in the last 180 days:4

Average SqFt. for homes SOLD 5,011

Average Price Per SqFt. $502.39

Average Days On Market 248

High $3,700,000 Low $1,775,000 Median $1,975,000

Sales Price To Listing Price 92.76%

Number of Homes Currently FOR SALE: 6

Average SqFt. 5,753

Average Price Per SqFt. $645.38

Average Days On Market 247 (This number is not reflective of the current market conditions in the neighborhood. Two of the currently listed homes in the neighborhood have been on the market 800+ days.)

High $6,450,000 Low $2,075,000 Median $3,331,500

Number Of Homes Currently PENDING: 0

Number Of Homes Currently PENDING INSPECTION: 0

Broadmoor Real Estate Report

Broadmoor SeattleThe Broadmoor real estate market was quiet in February.  There were no sales last month, which is not too unusual since there has only been zero (2013), one (2012), and two (2011) sales in Broadmoor the previous three years in February.  Currently there are four active listings totaling just under $12 million and no pending sales.

For similar information on Madison Park real estate, Denny Blaine real estate, or Madrona real estate please click the previous links to each of these Seattle neighborhoods.

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.

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

Broadmoor – Seattle – Real Estate Statistic Based on the Last 180 Days

Market Statistics provided here for Seattle’s Broadmoor neighborhood are current as of this post date.

Single Family Properties SOLD in the last 180 days:11

Average SqFt. for homes SOLD 4,527

Average Price Per SqFt. $465.63

Average Days On Market 25

High $4,310,000 Low $1,135,000 Median $1,632,000

Sales Price To Listing Price 98.6%

Number of Homes Currently FOR SALE: 7

Average SqFt. 5,344

Average Price Per SqFt. $566.47

Average Days On Market 332 (This number is not reflective of the current market conditions in the neighborhood. Two of the currently listed homes in the neighborhood have been on the market 800+ days.)

High $4,395,000 Low $1,195,000 Median $2,880,000

Number Of Homes Currently PENDING: 3

Average SqFt. 4,813

Average Price Per SqFt. $417.15

Average Days On Market 32

Broadmoor – Seattle – Rollover Accident

photo - Broadmoor Rollover

Monday morning around 12:00 AM some residents of the Broadmoor neighborhood were awakened by the sound of an automobile striking two parked cars. It was reported that the individual operating the automobile was driving in excess of 50 miles per hour, the speed limit in the neighborhood is 20 mph. Upon colliding with the first parked car the automobile went airborne, striking another parked vehicle on the opposite side of the street before coming to a stop, upside down.

According to police officers responding to the accident, the suspect appeared to be intoxicated and under the influence of narcotics. The suspect was transported to Harborview Medical Center, he suffered no serious injuries.

Broadmoor is a gated community, with security guards stationed at both points of entry. The suspect is a non resident of the community, and how he came to find himself racing around the streets of Broadmoor is under investigation. Residents believe the individual was visiting a neighborhood home owner, which conflicts with the suspects story, whom some believe concocted a story to protect the resident.

 

With Most New listing Selling Fast In Seattle’s Broadmoor Nieghborhood Inventory Is Scarce!

I’m sure that most Broadmoor residents are aware of the fact that sales in the neighborhood in 2012 were just dismal. There were 10 sales recorded by the NWMLS. With an Average Days on Market of 193 days. Only 1 of the 10 homes sold for over $2,000,000. The average sales price for 2012 was $1,527,500. The average price per Sq. Ft. was $365.93.

Fast forward to the present, July 3, 2013, things have drastically improved. At the present time there have been 14 recorded sales by the NWMLS in the neighborhood, with 1 home sale currently Pending. Six homes have sold for over $2,000,000, with 4 of these 6 sales being well over $2,000,000. The Average Days on Market stands at 138 days. This number is a little deceptive though as 8 of the homes sold this year sold in less than 20 days, and the home which is currently pending will fall into this category as well. The average sales price to date is $2,168,750. The average price per sq. ft. is currently $413,10.

A quick look at the current inventory shows that there are only 5 homes for sale, all of which are listed for over $2,500,000. This piece of data suggests that it would be a very opportune time for sellers in the neighborhood with homes believed to be valued at less than $2,500,000 to sell their home, there’s NO completion out there.

A Brief Overview of Available Inventory In Seattle’s Broadmoor Neighboorhood

Shenandoah Drive East  5 Bedroom 3.5 Bathroom - For Sale - Asking Price $2,595,000

Shenandoah Drive East Residence – Mediterranean Style – Golf Course View – 5,380 Sq. Ft. – 5 Bedrooms 3.5 Bathrooms – Asking Price $2,595,000

Parkside Drive East 5 Bedroom 4.75 Bathroom Residence for Sale - Asking Price $2,880,000

Parkside Drive East Residence – Located on the Golf Course – 6,390 Sq. Ft. – 5 Bedrooms 4.75 Bathrooms – Asking Price $2,880,000

For Sale

Blenheim Drive East Residence – Spanish Style – 6,750 Sq. Ft. – 3 Bedrooms 3.5 Bathrooms – Asking Price $3,895,000

For Sale

Shenandoah Drive East Residence – French Style Estate – 10,095 Sq. Ft. 6 Bedrooms 8 Bathrooms – Asking Price $4,395,000

Waverly Way East

Waverly Way East Residence - Located on the Golf Course - 6,000 Sq. Ft. 5 Bedrooms 5 Bathrooms

Asking Price $4,395,000

 

 

 

Sales are Way Up In Seattle’s Broadmoor Neighborhood

Market Statistics provided here for Seattle’s Broadmoor neighborhood are current as of this post date.

Sold by Ewing & Clark

Sold on 6/11/13 for $1,850,000

Single Family Properties SOLD in the last 180 days:13

Average SqFt. for homes SOLD 5,175

Average Price Per SqFt. $410.37

Average Days On Market 148 (7 of the homes sold this year in the neighborhood were on the market for 14 days or less)

High $4,310,000 Low $899,000 Median $1,695,000 Sales Price To Listing Price 95.91%

For Sale - Asking Price $2,595,000

For Sale – Asking Price $2,595,000

Number of Homes Currently FOR SALE: 5 (Currently, there isn’t a single home for sale in the neighborhood for under $2,500,000)

Average SqFt. 6,923

Average Price Per SqFt. $535.59

Average Days On Market 333 (2 of the 5 currently listed homes have an average market time of 766 days.)

High $4,395,000 Low $2,595,000 Median $3,895,000

Pending on 6/19/13 for $1,350,000

Pending on 6/19/13 for $1,350,000

Number Of Homes Currently PENDING: 1

Average SqFt. 3,070

Average Price Per SqFt $439.74

Average Days On Market 16

Market Statistics For Seattle’s Broadmoor Neighborhood

Market Statistics provided here for Seattle’s Broadmoor neighborhood are current as of this post date.

Single Family Properties SOLD in the last 180 days:11

Average SqFt. for homes SOLD 4,889

Average Price Per SqFt. $341.17

Average Days On Market 195

High $2,430,000 Low $899,000 Median $1,550,000 Sales Price To Listing Price 92.84%

Number of Homes Currently FOR SALE: 3

Average SqFt. 6,535

Average Price Per SqFt. $442.84

Average Days On Market 487 (This number is not reflective of the current market conditions in the neighborhood. Two of the currently listed homes in the neighborhood have been on the market 685+ days.)

High $4,995,000 Low $1,195,000 Median $2,880,000

Number Of Homes Currently PENDING: 4

Average SqFt. 6,383

Average Price Per SqFt. $584.95

Average Days On Market 34