Tag Archives: Seattle Luxury

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

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.

Real Estate Market Statistics for Seattle’s Broadmoor Neighborhood (98112)

Market Statistics provided for Broadmoor are current as of this post date.

Properties SOLD in the last 180 days:

1651 Windermere Drive East. 5Bed 3.25Bath. SqFt 3,070. Lot 7,021 SOLD $800,500 *Bankrupcy Sale*

1554 Parkside Drive East. 4 bed 3.25 Bath. 3,820 SqFt. Lot 8,624 SOLD $905,000  *Estate Sale*

1201 Shenandoah Drive East. 2 bed 2.5 Bath. 2,780 SqFt. Lot 8049 SOLD $1,214,150

3418 East St Andrews Way. 4 Bed 3.5 Bath. 3,930 SqFt. Lot 7,741 SOLD $1,350,000

1414 Shenandoah Drive East. 5 Bed 3.25 Bath. 4,900 SqFt. Lot 10,000 SOLD $2,045,000

1818 Broadmoor Drive East. 5 Bed 3.5 Bath. 5,460 SqFt. Lot 10,760 SOLD $2,070,000

Average SqFt. of homes SOLD 4,236                                                                                 Average Price Per SqFt. $327.53                                                                                                      Average Days On Market 143                                                                                                    High $2,070,000     Low $800,500      Median $1,282,075                                                  Sales Price To Listing Price 86.55%

Number of Homes Currently FOR SALE: 12

Average SqFt. 5,357 Average                                                                                                    Price Per SqFt. $491.98                                                                                                           Average Days On Market 312                                                                                                      High $7,950,000     Low $895,000     Median $2,072,500

Number Of Homes Currently PENDING: 1

For further information or more specific details regarding the data provided, please contact Vincent Mullally @ vmullally@ewingandclark.com

 

No Two Homes are Alike

Georgian Colonial HomeWhen driving or walking through Broadmoor it’s apparent that there are many distinctive, well built luxury homes in the neighborhood. But what I really admire most about the homes in this community, and find sets Broadmoor apart from other neighborhoods is the uniqueness of each of the individual homes. There are really no two homes alike in the neighborhood. Sure there are a few Brick Colonials, and there aren’t many, that may share some resemblance from an exterior standpoint, but once you set foot inside the residences you’ll find that that’s where the comparisons stop. This for me is really something to be marveled and really makes the neighborhood a special place to live.

Some of the Best Deals in the City for Luxury Real Estate can be found in Broadmoor!

Why buy in the Madison Park or Washington Park when you can buy in Broadmoor and get so much more for your money? I’ve always been a big believer in the value you get when purchasing a home in Broadmoor, and when looking at the most recent sales statistics they speak for themselves. Recent sales show that on average you pay $111.00 less per sq ft. in Broadmoor and you’re getting a bigger lot for your money. Couple these factors with the neighborhood being private, less street and foot traffic, and a lower crime rate, equal an overall more peaceful environment to live in. If you’re in the market for a luxury home and haven’t given Broadmoor much thought your truly doing yourself a disservice, it’s a wonderful neighborhood to live in!

*Statistics are based on sales that took place in the last 180 days.*

12 homes have sold during this time frame in Broadmoor.

Averages: Sq Ft. 4,701          Price per Sq Ft: $397.66          Days on Market: 242         

High: $4,700,000                   Median: $1,542,500                 Low: $900,000

17 Homes sold in Washington Park & Madison Park in the last 180 days

Average Sq Ft. 4,116          Price Per Sq FT. $508.52          Days on Market: 216

High: $4,400,000               Median: $1,942,000                  Low: $1,040,000

 

Broadmoor Midcentury Modern Featured in Times

BroadmoorA Broadmoor midcentury modern home which was influenced by Canlis and its architect Roland Terry was recently updated and featured in the Seattle Times.  The home which was built in 1962 was transformed by the owners with the help of architect Colin Brandt and Dyna Contracting.  Click the link to read more about the 7 month remodel and to see pictures taken after the work was complete.

Come Tour a Beautiful Broadmoor Home

Please come tour a beautiful, Broadmoor home this weekend from 1:00-4:00 pm, listed by Ewing and Clark broker Betsy Terry.  The fantastic home has a wonderful floor plan, gracious and sunny rooms, and high ceilings.  A lovely kitchen features marble countertops, high-end appliances and one of the home’s two fireplaces.  The home is available for purchase at $1,995,000.  Don’t miss out on this great opportunity.  Please contact Betsy Terry of Our Distinctive Home Shop in Madison Park to set up a viewing appointment.

Betsy Terry: (206) 322-2840