Classic Denny Blaine Mansion Gets New Home On Bainbridge

The house at its original location at Denny Blaine Park

The house at its original location at Denny Blaine Park on Lake Washington

A mansion that has called Denny Blaine Park home since the 1923 has gotten a new address after almost a century – Bainbridge Island. The 400-ton brick home was loaded onto a barge on Wednesday evening and made an overnight journey through Lake Washington, the Ship Canal, and finally the Ballard Locks before arriving on Bainbridge on Thursday night. According to King 5, the home’s new owners, Mary Rain and her husband, stumbled across the property on the website for Nickels Brothers, a company that specializes in “recycled” homes and house moving, and purchased it for $850,000 – including delivery.

A Nickels Brothers spokesperson told King 5 that the home’s previous owners planned to build a new house on the Denny Blaine site, but did not want to see the historic home demolished. The sale to the Rain family allowed the home to be preserved, and the spokesperson said nearly 200 trees’ worth of wood was saved from the landfill. Click here to see a video of the home and updates from its new location on Bainbridge!

Denny Blaine Real Estate: 3rd Quarter 2014

Washington Park SeattleDenny Blaine real estate, like the rest of the King County real estate market, is very strong.  Comparing closed homes sales in Denny Blaine for the 3rd quarter with the year before shows the increase in the market.  The number of home sales in Denny Blaine are low (due to the size of the neighborhood); thus the date is prone to fluctuation, but taken in context with the rest of the Seattle area market the numbers are consistent.  In both 2014 and 2013 in the 3rd quarter there was 6 sales, but in 2014 the average Denny Blaine sales price was over $1.7 million and $477 per square foot while in 2013 the average sales price was $1.1 million and $372 per square foot.  The number in September in King County and Seattle real estate market show similar trends.  The median price of a single-family home in King County in September was $460,000, almost 10 percent higher than a year ago and 5.3 percent higher than August’s median price.  According to the Northwest Multiple Listing Service, these stats indicate the best September for home prices in at least 10 years! The city of Seattle performed the best of all the sub-markets in King County in September, with the median price having risen to $517,000, 12 percent higher than September 2013.

While numbers were gathered from the Northwest Multiple listing Service; Statistics not compiled or published by the Northwest Multiple Listing Service.

Feel free to contact Kristine Losh if you want a complimentary price opinion of your home.  Kristine is a real estate broker with Ewing & Clark.

Above pictured home is located just outside of Denny Blaine on Hillside Drive East and currently for sale for $2,745,000.

Denny Blaine Real Estate: Mixed Signals?

There are mixed signals in King County with average sales price up and average list price down but is the same true in Denny Blaine and the surrounding Central Seattle area?  According to the Northwest Multiple Listing Service (NWMLS), the average residential list price in King County is down from May 2013, while the average sales price has increased. The average residential list price last month was $792,925, down from $813,502 in May of 2013, while the average closed sales price was $541,294 up from $501,145 in 2013. There were 3,789 new residential listings that hit the market in May 2014 compared to 3,521 in 2013. This recent uptick in inventory may be one of the factors causing the average asking price to decrease, but the Denny Blaine and its surrounding area does not seem to support this theory…

When looking at Central Seattle, the area that includes not only Denny Blaine real estate but homes for sale from Montlake to Leschi and everything in between (including Capitol Hill), the active residential listings are down from last May from 150 to 140 this May. As in the rest of King County, the average list price is also down from $1,746,083 to $1,609,493, but unlike King County the average sales price is also down in the area that includes Denny Blaine: dropping $975,857 to $784,780. Looking deeper in the numbers, last May was a exceptionally strong month for luxury home sales and this alone is the major cause of the large swing in average sales price.  Six homes sold in May 2013 for over $2,500,000 while there was zero sales for over $2,500,000 in May 2014. Last May’s sales in Central Seattle are even more impressive considering there were only 17 sales over $2,500,000 for the entire year and six of them were in May. Last May’s real estate sales included the highest sale of the year: a 8,000+ sq ft view home in Denny Blaine that sold for $6,500,000 (pictured below). Despite a very strong May last year, luxury sales are still stronger in 2014 (9 sales in 2014 vs 8 sales in 2013 through May over $2.5 million).

Denny Blaine Estate

If you are interested in seeing what is available in Denny Blaine, then click the link to see the available Denny Blaine Homes for Sale or contact Kristine Losh for more information on the Denny Blaine real estate market.

Statistics in blog were gathered from the NWMLS, but the: Statistics not compiled or published by the Northwest Multiple Listing Service.

Denny Blaine Real Estate Report: May 2014

Denny Blaine Real EstateAbove 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.

Denny Blaine Real Estate Report

The Denny Blaine real estate market was quiet in February.  There were no sales last month, which is not too unusual since there has only been two (2013), two (2012), and zero (2011) sales in Denny Blaine the previous three years in February.  There are currently four active listings totaling just over $11 million and four sales pending with a current list price of nearly $7.2 million.Denny Blaine

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 to reach out to Kristine Losh.