November 2015

There are 6 blog entries for November 2015.

Mercer Island saw typical market activity in October with 25 sales, including 21 single-family homes and four condos. The average sale price for a single-family home was up over September to $1,668,300, though one $8.46 million sale of a home on Fabens Point skewed the average slightly high. In comparison, the average sale price for the 24 single-family homes that sold in September was $1,240,695. Of the 25 properties sold in October, the majority actually sold for below list price, with only six selling for above list price. The highest list-to-sale-price ratio was 103 percent for a 2,560-square-foot rambler in Tarywood Heights. Prices were down slightly over last October, which saw an average sale price of $1,730,483 for 27 properties sold.

Currently

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As we head into the holidays, real estate experts in the area predict that the Puget Sound market will not see the typical slowdowns associated with the season. Listings often drop off during this time of year, as potential sellers are more focused on holiday events, but with sustained demand for homes in our region, the next few months are going to be a great time to sell a home. The area comprising King, Kitsap, Pierce, and Snohomish counties saw the highest number of pending sales in a decade in October, and those high sales volumes are predicted to continue.

Though median sales prices for single-family homes are down in King County on a monthly basis, from $490,250 in September to $480,000 in October, prices are up by 7 percent over the year,

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This impeccable architect-designed Madrona home features more than 4,000 square feet of sophisticated living space:  4 bedrooms and 3.5 baths in the main house, plus a renovated classic carriage house with an additional bed and bath. Featured in Seattle Met magazinein 2009, this home has 10-foot ceilings, windows everywhere, and spectacular finishes throughout. A gourmet chef’s kitchen and large dining room lead to a glamorous living room with a cozy fireplace. Vaulted ceilings upstairs give the bedrooms an airy feel, and additional loft areas provide play space or storage. The 1,300-square-foot carriage house, built in 1901 and updated in 2015, provides amazing live-work space or could serve as an Airbnb or rental property. A private fenced yard,

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Condominium property values were some of the hardest hit after the housing crash, with the typical condo in the U.S. losing a third of its value. But according to a recent Zillow survey, condos are finally making a long-awaited comeback and are appreciating more quickly than single-family homes in many U.S. markets, including Seattle’s.

According to statistics from the Northwest Multiple Listing Service (NWMLS), the median sales price for a condo in Seattle in October was $368,000, up 23 percent over the year, compared to an 8 percent price increase for single-family homes. Condos in many neighborhoods within the city saw much higher rates of appreciation. Prices increased by 55 percent in Southeast Seattle (Columbia City, Rainier Valley, Seward

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 By Ken Urman - Ewing & Clark, Inc

 

Parkwood Estates (Parkwood) is one of the oldest planned neighborhoods of Mercer Island. It consists of 52 homes on 53 lots, positioned on five separate blocks in the south central part of the island. The streets are 91st Avenue Southeast, Parkwood Lane, Southeast 54th Street, Southeast 55th Place, and Southeast 56th Street. The lots are mostly flat and home styles tend to be traditional, with circular driveways. Formal entry to Parkwood Estates is at Southeast 54th Street and Island Crest Way. With an ideal mid-island location and beautiful streets and homes, Parkwood is a very sought-after Mercer Island neighborhood.

Parkwood is bordered by Island Park Elementary School and a park to the west; by other

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Two Seattle-based companies, Porch.com and Redfin, recently teamed up to create a list of the nation's top places to own a home, and the Emerald City came in at number 10. They surveyed 10,000 U.S. homeowners and asked them to evaluate factors such as safety, climate, commute times, access to education, taxes, and real estate trends in order to rank the cities in their list. Redfin's real estate agents also gave input on their local markets. Not surprisingly, Seattle scored above the national average for economic opportunity (#7), healthy living (#8), and walkability (#19), and...climate? Well, we natives like the rain, at least. Seattle came in well below the national averages for security and safety, and also for real estate confidence, likely

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