Property Views: A summer like no other in Seattle
This has certainly been a summer like no other. Our thoughts are with the entire community as we all work together to see each other through this terrible pandemic. We continue to cheer and support our everyday heroes at the frontline of the pandemic, our teachers preparing for a school year with so many unknowns, the grocery store workers, first responders, healthcare professionals, mail carriers and all who keep us going from day to day. We are a city of great civic pride, and it is heartwarming to see the innumerable acts of caring and selflessness taking place day to day.
Home has in many cases been redefined and become one of the most important things in our lives. Merging home and office certainly has provided its rewards and challenges. The need to buy, sell and lease real estate has a different meaning, reason, purpose and level of need for everyone. Because of this, the real estate market has certainly also been a spring and summer like no other. Preparing a home to present to market has never been more important. Our home prep gurus, styling team and photographers have never been busier. The Seattle market overall has been absolutely moving along, brokers citywide have reported tremendous activity with multiple offers in many markets, especially the single-family market with homes in the $700,000 to $1.5 million range.
With new guidelines from Gov. Jay Inslee's office, the showing process is now exclusively by appointment, something clients and agents have come to appreciate. This approach has allowed clients to have time alone in a home for an allotted period — something that will likely continue from the positive feedback we have received.
By the numbers (June 1 through July 20)
Denny Blaine, Broadmoor, Washington/Madison Park (Single-family homes)
June 1 through July 20
11 sold homes
Average sales price: $2,533,000
Average days on market: 41
Average price per square foot: $809
Lowest sales price: $1,225,000
Highest sales price: $7,825,000
There are currently 14 active properties for sale, ranging from $1,160,000 to $7.5 million, with average offering price of $3,300,143.
There are currently nine pending properties, with an average offering price of 1,978,333.
Denny Blaine, Broadmoor, Washington/Madison Park (condominiums):
June 1 through July 20
Seven sold homes
Average sales price: $823,143
Average days on market: 66
Average price per square foot: $656
Lowest sales price: $540,000
Highest sales price: $1,125,000
There are currently nine active properties for sale, ranging from $459,000 to $2,650,000, with an average offering price of $1,020,000.
As of deadline, there are currently no pending properties.
At the time of this writing, we also have news of interest rates falling even further, which will likely bring new buyers to the market and make for an even more interesting July and August market.
I am honored and happy to help with anything I can in maneuvering this ever-changing and dynamic Seattle real estate market. My team and I at GBK/Compass are here to assist with the presentation of your home in preparation of bringing to market, as well as thoughtful home searches with the utmost attention to detail and care. I am here to answer any questions, please reach out at any time.
Spafford Robbins, GBK/Compass
SpaffordRobbins.com