Above home is the highest sale in Denny Blaine this year. The 10,690 sq ft home sold for $4,670,000 in March. The buyers were represented by Ewing & Clark.
Real estate inventory in Central Seattle, which includes Denny Blaine as well as Montlake, Madison Park, Capitol Hill, and as far as Leschi continues to be extremely low. Only 354 new homes have come on the market in Central Seattle this year (through April) compared to 423 last year, which had historically low inventory as well. But what is really amazing is that 135 new listings came on during the month of April, but by the end of the month there were only 131 active listings in Central Seattle. This means there were less active listings at the end of the month than what came on during the month. This indicates that not only did all the homes that were on the market prior to April become absorbed, but also some of the new listings as well.
Looking closer at Denny Blaine real estate we see the number of home sales are down from last year, but that seems to be because of the low inventory. In Denny Blaine, 5 homes have sold through late-May as compared to 11 Denny Blaine homes at the same time last year.
Lower inventory is causing prices to increase drastically. The average sale price of Denny Blaine real estate is up nearly 43% over last year! The increase may not be a true indicator of change in house values since the sample size of homes sold in Denny Blaine is so very small, but the neighborhood statistics plus the average sales price in Central Seattle (up 16%) and King County (up 11%) reveals this a great time to sell!
Feel free to contact Kristine Losh of Ewing & Clark Real Estate if you want a complimentary price opinion of your home.