Tag Archives: Seattle Broadmoor

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.

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

Annual Broadmoor Pumpkin Carving and Best Decorated House Contests – 2014

Broadmoor HalloweenHalloween BroadmoorHalloween

 

Halloween is fast approaching and it’s apparent that Broadmoor residents are preparing their homes in order to participate in the annual Halloween best decorated home contest. For new residents or simply residents of the neighborhood that have never competed in past competitions, beginning on October 20th you can pickup a flyer outlining the rules for both competitions at the front gate. On October 29th Judges will be going out to judge the contestants, so please make sure your homes are well lit as are your pumpkins on the 29th. There will be awards for 1st, 2nd, and 3rd place in the home decorating contest, adult pumpkin carving contest, and children’s pumpkin carving contest. NO stencils are to be used in the pumpkin carving contest.

Good luck to all participants and Happy Halloween!

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.

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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

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