Broadmoor Real Estate – 2016 in Review

Broadmoor Real EstateBroadmoor real estate remained strong in 2016 as it was in 2015.  The number of Broadmoor homes sold increased slightly (21 vs 20), the price per square feet was up nearly 16% ($625 vs $540), and the average Broadmoor house’s sales price increased 32.6% ($2,879,561 vs $2,171,452).  Broadmoor real estate was not as strong when it came to days on market.  On average, Broadmoor homes were on the market 29 more days in 2016 than in 2015 (69 vs 40 days).

Broadmoor also several luxury home sales.  In 2016, there were eight Broadmoor houses that sold for over $3 million compared to four in 2015.  In 2016, there were two sales over $5 million and none in 2015.  A home on Windermere sold for $6,150,000 and another home on Shore sold for $5,750,000.

The Broadmoor real estate market was not unique to the area.  The overall real estate market in the region (area covered by Northwest Multiple Listing Service which serves 23 Washington State counties) saw the median sales price increased 8.9 percent from $310,000 in 2015 to $337,500 in 2016. The regional luxury real estate market was also strong in 2016, with over 3,251 home sales over $ 1million compared to 2,676 in 2015: over a 21 percent increase.

2017 seems to be taking over where 2016 left off. As always, to maneuver the market, reach out to your local real estate broker to navigating the Seattle real estate market.

These statistics were gathered from the Northwest Multiple Listing Service, but were not compiled or published by that organization.