Sales to Date in Seattle’s Broadmoor Neighborhood

Almost five months have come and gone in 2012, and while home sales look to be on the rise in many neighborhoods, it appears that sales in Broadmoor have been extremely stagnant year to date. As of today there have been only 4 closed sales in the neighborhood, with only one sale currently Pending.

Closed Sales

1651 Windermere Drive E. 5 bed. 3.25 Bath. 3,070 Sq Ft. Sold Price: $800,500

3418 E. St Andrews Way. 4 Bed. 3.5 Bath. 3,930 Sq Ft. Sold Price: $1,350,000

1818 Broadmoor Drive E. 5 Bed. 3.50 Bath. 5,460 Sq Ft. Sold Price: 2,070,000

2128 Waverly Way E. 6 Bed 5.25 Bath. 6,880 Sq Ft. Sold Price: $2,150,000

Pending

1570 Parkside Drive E. 3 Bed. 2 Bath. 2,340 Sq Ft. List Price: $849,000

 

When studying the statistics of other neighborhoods, such as Washington Park, Madison Park, Denny Blaine, and Capitol Hill, it’s apparent that not many homes around the $2 million mark and above are moving. Given that 11 of the 14 homes currently listed in Broadmoor are right around or above this mark, it could be said that Broadmoor is fairing about as well as these other neighborhoods. In light of this, I think it will be important to see what happens in regards to the inventory below $2 million over the course of the summer. As of late I’ve seen an uptick in sales of homes priced around $1.5 million in the neighborhoods I’ve mentioned above. With the increase in activity the summer brings, I would expect that the lower priced homes in the neighborhood should move the closer they get to this number. It should be an interesting summer sales season to follow, hopefully the second half of the years proves to be more fruitful than the first half.