Category Archives: Real Estate

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.

Broadmoor Real Estate

Broadmoor Real Estate Report – Oct 2016

Like the rest of Seattle, the Broadmoor real estate market is very strong. Through the first ten months of this year, there has been 19 sales.  The average sales price is almost $2.9 million with a median sales price of $2.55 million.  For the same ten months last year, there 17 sales with an average sales price of $2.116 million and a median sales price of $1.81 million.  In 2016, the lowest sales price is $1,725,000, in first 10 months of 2015 there were 6 sales below that price.  In 2016, there have been 7 sales over $3 million, in 2015 there were 3.  In 2016, the two highest sales are $6,150,000 and $5,150,000, in 2015 the highest sales price for the same time period was $3,840,000.  In 2016, the Broadmoor homes that sold have been bigger (4,677 avg sq ft vs 3,989 avg sq ft in 2015) and sold for more per square feet ($615 avg $/sq ft vs. $542 avg $/sq ft) than the same time last year.  The only negative change for sellers is the average time of market has increased from 28 days to 75 days although it is typical for more expensive homes to sit on the market longer than a less expensive home.

Prices are up in the surrounding area as well.  Looking just at the month of October, the Central Seattle area (between I-90 and the Montlake cut and I-5 and Lake Washington) saw the average price of homes up from October 2015 of $882,720 increase to $990,258 in October 2016 while condo prices rose from $507,567 last October to $593,872 in October this year.  Inventory is tight, but that might not fully explain the prices changes since the number of sales of area’s homes decreased from 83 in October last year to 64 this year, whereas the number of condos sold rose from 52 to 79.

The average price has also increased in King County, a home in October was $653,231 compared to $590,728 in October last year.

Contact your local Seattle real estate agent for more information on the Broadmoor real estate market.

Pictured: Broadmoor home is the only sale in Broadmoor in October 2016 (same number of sales as last October).  The home was listed by Ewing and Clark.

How are Sales and Inventory in Seattle’s Broadmoor Neighborhood?

The Market Statistics provided here for Seattle’s Broadmoor neighborhood are current as of this post date. The sales numbers found here cover the last 90 days.

There have been some notable sales in the Broadmoor neighbor over the last 90 days, none of which were more notable than 2120 Waverly Way East. This home had been listed for years when you tally up the cumulative days on market, it finally sold for $3,575,000. It had originally been listed for around $5,500,000 – it’s most recent listing price was $3,800,000. This is great news in my book as the home had been skewing the average days on market for the active homes listed in the neighborhood ever since I starting writing this statistical blog post. The other notable sale in the neighborhood was 1145 Parkside Drive East, which had been on the market for nearly 3 months, had no price drops during this time, received multiple offers on the 87 day of being listed, and sold for $2,300,000 – which was more than asking.

Single Family Properties SOLD in the last 90 days: 7

Average SqFt. for homes SOLD: 4,057

Average Price Per Square Foot: $558.69

Average Days On Market: 80

High $3,575,000 Low $1,725,000 Median $1,980,000

Sales Price To Listing Price 94.64%

 

Number of Homes Currently FOR SALE: 6

Average Square Feet: 5,589

Average Price Per Square Foot. $638.03

Average Days On Market: 63

High $5,750,000 Low $1,995,000 Median $3,120,000

 

Number Of Homes Currently Pending Inspection: 1

1230 Lexington Way East is currently Pending Inspection. The list price is $2,400,000

Number Of Homes Currently PENDING: 2

1620 Broadmoor Drive East is Pending after just 5 days on the market. The home received multiple offers, and is rumored to be selling for more than the list price, which was $3,250,000.

Average Square Feet. 5,105

Price Per Square Foot. $581.46

Days On Market 69

Washington State Home Sales Reach New High

sold-sign2015 may have been an interesting year for many reasons, but in the world of Washington real estate, it sure felt like the good old days.

Not since the way-back-when of 2007 had so many homes and condominiums sold in the Evergreen State. According to the Northwest Multiple Listing Service, 2015 saw a whopping 88,331 homes changed hands last year, about 14% more sales than in the previous year. Those who have done the math say that works out to about 75,975 single family homes and 12,356 condominiums, valued at approximately $34 billion, about 23% more than the dollar volume sold the year before. Those impressive figures make 2015 one of the best years for Washington State real estate in recent memory.

The last time this state saw real estate figures like that was in 2007, before the bubble burst and sent the country into what is not-so-affectionately known as The Great Recession. Even in 2007, the figures only added up to about 82,197 sales valued at $32.3 billion, according to the Northwest Multiple Listing Service.

Furthermore, despite a ‘lower inventory’, so to speak, prices and number of sales continue to grow. In King County, the median home price was $480,000 and more than 26,600 homes sold. Compare that to a median price of $440,000 and 26,600 homes sold, in 2014 and you’ll notice a jump of close to 10%. Snohomish and Pierce counties can top those figures with growth figures for both median home price and number of homes sold over last year at nearly 16.80% ($355,000, up from $326,360 with 11,303 homes sold) and 17.39% ($249,950, up from 230,000 with more than 13,200 homes sold) respectively.

Overall, region-wide, the growth was about 8.8% from 2014, with a median price for single family homes and condominiums at about $310,000, up from $285,000 last year.

Numbers like this are a positive and encouraging sign for the state of the real estate market and the country’s economy as a whole. Let’s just hope nothing comes along and tries to ‘burst our bubble’ this time.

1920’s Home Available For Rent In Broadmoor

1212 Broadmoor Dr. E

Living in Broadmoor offers residents the best of two worlds: in-city living within a quiet, secluded atmosphere. Just blocks from the shops and restaurants of Madison Park and Madison Valley, and in walking distance of the Washington Park Arboretum, Broadmoor is the ideal location.

This 1928 home available for rent is situated on the fairway of the Broadmoor Golf Course and offers a peaceful green view. Many of the 1920’s details are still intact, and this home is attractively decorated with pretty oak floors, classic rooms, and a covered porch. A one-car garage and basement offer plenty of storage.

This is a great opportunity to live in one of Seattle’s most sought-after areas! Please contact listing agents Betsy Terry and Jane Powers at Ewing & Clark, Inc. for more information on this home.

The Details

Bedrooms: 3  |  Bathrooms: 1  |  Sq. Ft.: 2,230  | Available for: $3,900/month

Broadmoor Living room

Real Estate Statistics for Seattle’s Broadmoor Neighborhood

Market Statistics provided here for Seattle’s Broadmoor neighborhood are current as of 4/30/2015.

Single Family Properties SOLD in the last 90 days:5

Average SqFt. for homes SOLD 3,753

Average Price Per SqFt. $521.39

Average Days On Market 17

High $3,000,000 Low $1,400,000 Median $1,810,000

Sales Price To Listing Price 103.05%

Number of Homes Currently FOR SALE: 4

Average Sq. Ft. 6,720

Average Price Per SqFt. $581.29

Average Days On Market: 52

High $5,750,000 Low $2,800,000 Median $3,425,000

Number Of Homes Currently PENDING: 3

Average Sq. Ft. 5,193

Average Price Per SqFt. $653.97

Average Days On Market: 73

High $4,500,000 Low $1,995,000 Median $3,695,000

Number Of Homes Currently PENDING INSPECTION: 1

Beautiful Broadmoor Home Now Available For $2,895,000

BroadmoorFantastic opportunity in Broadmoor! A beautiful, spacious private lot surrounds this shingled, traditional five-bedroom home with a wealth of amenities. A hornbeam hedge screens the entry, and Wilkesen stone terraces and walkways surround the house. Gracious rooms, fine finishes, and a sizable library give the house classic character, supplemented with modern updates such as top-of-the-line kitchen appliances, and butcher block and stainless steel counter tops. The breakfast room and large family room are flooded with natural light, and the master suite features two walk-in closets, a fireplace, and marble bath. If you are interested in this home or other listings in Seattle, contact your real estate agent today!

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.

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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