Denny Blaine Real Estate – 2016 Review

Denny BlaineDenny Blaine real estate continued to be strong in 2016 as it was in 2015.  Not a lot of homes sell in Denny Blaine each year, so the real estate statistics can be deceiving.  On average, there are just under one and a half (1.5) Denny Blaine home sales per month.  In 2016 there were 15 sales, while in 2015 there were 19 sales.  WHile the median sales price ($1,100,000 vs $1,400,000) and cost per square foot ($471 vs $494) went down in 2016 from 2015, the average days on market (45 vs 48) improved in 2016.  What might be the most telling, is the average sales price over average list price was 102.1% in 2016 versus s still strong 98.9% in 2015.  The decrease of the total Denny Blaine home sales and average sales price versus list price increasing can probably be attributed to the tight inventory in Denny Blaine and Seattle.

The Seattle market did see increases in price and the number of sales, but the biggest story in the Seattle real estate market was the low inventory.  Inventory was tight throughout the year in the 23 counties served by the Northwest Multiple Listing Service, there was an average of 1.86 months of inventory in 2016, compared to 2.4 months in 2015. King County was the tightest with only 1.1 months of supply. A balanced market is generally considered to be between 4 and 6 months of inventory.

The luxury real estate market was strong in 2016, with over 3,251 home sales over $1 million compared to 2,676 in 2015: over a 21 percent increase in the 23 counties. The number of condos over $500,000 also increased with 1,711 sold in 2016 versus 1,459 half-million dollar sales in 2015: also over a 21 percent increase in the same area.  The vast majority of luxury sales are in King County.

2017 seems to be taking over where 2016 left off. Low inventory remains and prices remain strong. As always, to maneuver the market, reach out to your local real estate broker to navigating the Seattle real estate market.

Pictured:  Home pictured about is Denny Blaine Waterfront listed by Ewing and Clark real estate for $12,000,000.

These statistics were gathered from the Northwest Multiple Listing Service, but were not compiled or published by that organization.

Denny Blaine Real Estate: February Report

Seattle’s Denny Blaine real estate market was quiet in February. MLS data shows only one sale during the last winter month of 2016 as well as 2015. The two previous years were more active with four (2014), and four (2013) total February sales. Seattle’s low inventory and high prices seem to have buyers taking their time shopping these days.

Denny Blaine neighborhood, Seattle

Denny Blaine neighborhood, Seattle

Currently there are 5 active listings in the neighborhood totaling just over 15 million and 3 pending sales totaling over 2.8 million.  There were no Denny Blaine sales in January meaning that February’s one sale contributes to the year to date median and average sales price of $1,250,000, a significant jump from the only February 2015 sale of $515,000.

For similar information on Capitol HillMadison Park, or Madrona real estate please click the previous links above.

Denny Blaine is a part of “Central Seattle” as defined by Seattle real estate agents. Central Seattle real estate mainly includes the area from the Montlake cut to I-90 and from Lake Washington to I-5.  The start of the year shows home prices are up across the city and sales for the first two months are down with 165 sold in 2015 versus 158 in 2016.  Currently in this central Seattle area there are 177 active listings.

If you have any questions about the Seattle real estate market, please feel free to reach out to a local Seattle real estate agent.

Update on Denny Blaine Homes

Denny Blaine HomeLess than a month ago I blogged about two Denny Blaine homes and already there has been some updates.

After the $1 million price drop, this Denny Blaine waterfront home is pending inspection.

After blogging about this Denny Blaine home, the price was reduced to $879,000.  At the time of my earlier blog this home was the only home in the neighborhood under a million dollars; now there are three homes in Denny Blaine in this price range.

$1,000,000 Price Drop On Denny Blaine Waterfront Home

Denny Blaine

View from home of yard and Lake Washington

This Denny Blaine home, which we previously blogged about, just had a HUGE price drop of $1 million dollars.  The home is now currently for sale and listed at $4,990,000.  The home has 63 feet of Lake Washington waterfront and sits on a  1/2 acre lot.  The home was built in 1910 and features French doors and windows and elegant interiors.  This home is only one of approximately fifty waterfront houses on Lake Washington between Madison Park and Leschi.  Follow the link to see more details of this Denny Blaine waterfront home including the home’s square footage, number of bedrooms and bathrooms, and more pictures.

Only House on the Market Under $1 Million in Denny Blaine

Denny BlaineI previously blogged about this Denny Blaine home when the list price was $979,500.  Since then the price has been reduced to $929,950 which is the only house in Denny Blaine priced under $1 million.  It is a great house near the end of a dead end street.  The home backs up against a greenbelt, so the home is surrounded by a beautiful setting.  While the home has two floors plus a basement and has 4 bedrooms and 3 baths, the rooms are a little cozy.  With a low maintenance yard, it might be a good alternative for a buyer who is considering condos.

Status: Home For Sale
List Price: $929,950
Bed/Bath: 4/3

Click on the link if you are interested in this Denny Blaine residence, want more details, or just want to see more photos.