Capitol Hill – Real Estate Report November 2017

The Seattle real estate market remains one of the hottest markets in the nation! The weather may have cooled down but the market is still hot. The desirable neighborhood, Capitol Hill, has shown great growth since November 2016.

Sold by Ewing and Clark in May 2017

The median sales price for a home has gone up from $749,950 to $1,267,500. There was only one more sale than November 2016. The highest price for a home last month was $2,425,000 and the lowest was recorded as $735,000. The average sold price for a residential home in the Capitol Hill/North Capitol Hill area was $1,355,875.

Sold by Ewing and Clark in May 2017

Condominiums have also shown a jump in sales. There was 30 condos sold in the area last month, compared to 22 in November 2016. The median price for a condo in the Capitol Hill area was $527,500. The average sales price increased from $570,814 (11/16) to $699,767 (11/17).

There are currently 24 active listings and 24 pending.

 

Consider The School District When Buying

As you begin your home search, there are plenty of things you already know to factor in the decision: price, neighborhood attributes,  beds and baths, square footage, and proximity to work. But have you considered looking into which school districts are round the neighborhood you’re searching? In Seattle as we know many new homeowners aren’t planning on having children anytime soon or maybe not at all, but this doesn’t mean that you should cast the school district factor aside; even if you do not have children or do not plan to, the quality of education nearby can greatly affect how much you pay for your home, and how much you can expect to sell it for in the future. You’ll pay more for your home if it is within a good school district. Parents of school age children are always searching for high school ratings, and often will pay more to live in a zoned neighborhood within a highly rated district. A good school district can also protect you from the ups and downs of the real estate market; even in an unpredictable market, a home in a great school district will likely see nearby home values staying consistent or above the median. This will protect you when it comes time for the resale, and although there are no guarantees, you can rest assured parents will always be looking to move to the best neighborhoods with the top schools. For more information on Seattle real estate, please contact your local agent today.

Check out our “Neighborhood Schools” tab above for more information on the schools in the Capitol Hill neighborhood!

Capitol Hill Real Estate Report – July 2017

 

Past Sold Listing in Capitol Hill

Just like Seattle’s weather the real estate market in Capitol Hill continues to stay hot. There were 23 single-family homes sold last month and 38 condos. The average list price for a single-family home climbed from $975,595 (7/2016) to $1,052,900 (7/2017). The highest cost for a home jumped from $1,925,000 (2016) to $2,550,000 (2017), the lowest as also spiked from $500,000 to $645,000. There are currently 17 active listings and 24 pending.

Past Sold Listing in Capitol Hill

Condos have also shown growth in the Capitol Hill, Seattle area. The average list price for a condo in the Capitol Hill neighborhood has jumped from $432,094 in July of 2016 to $533,034 this past month (July 2017). The highest sold price was $3,050,000, $1.45 million more than July 2016. The median price for a condo has gone up from $392,000 to $510,000. There are currently 12 active listing and 34 pending.

 

Tips for Spring Sellers!

 

The flowers are starting to bud, and the sun is peaking through the clouds (on some days); Spring is in the air and For Sale signs are emerging around Seattle. How do you stay ahead of the game? As the housing market begins to heat up, sellers can take these extra steps to help stand out among the rest. At first glance, potential buyers are scrutinizing your property before they even step foot in the door, and having a clean entrance and yard can make a big difference for first impressions.  Adding a beautiful potted plant to the front porch, or staining the front deck could be relatively small projects that could add generous appeal to your home.

Staging your home is another great way to entice buyers to choose your home. Hiring professionals to arrange your home to appeal to a broad array of buyers could be the difference between a buyer choosing your home, or choosing one just down the street. Removing personal belongings helps buyers envision themselves living on the property- not you. Also remember to give your home a good cleaning before showings; a clean home feels bigger and more inviting.

For more information on Seattle real estate, contact your local real estate agent today.

Capitol Hill Real Estate – 2016 in Review

Capitol Hill HomesCapitol hill real estate, like Seattle real estate, continued to be strong in 2016.  Capitol Hill home market in 2016 seemed uninterrupted from 2015.  Prices were up in total ($983,591 average vs $981,161) and cost per square feet ($460 average vs $439), days on marketed decreased (25 vs 32), and the number of sales increased (221 vs 204).

Capitol Hill condos still attracted Seattle buyers in 2016 like they did in 2015.  While the number of condos sold reduced (349 vs 365) nearly all other numbers improved. Median sales price ($399,000 vs $355,000) and average price per square foot ($552 vs $492) went up.  The numbers of days on market tightened with condos staying on for only 18 days in 2016 versus 23 days in 2015.

Maybe the most astonish number for the previous two years is both the Capitol Hill homes and Capitol Hill condos on average sells for over list price.  In 2016, the average Seattle home on Capitol Hill sold for 103.1% of list price in 2016 and 103.6% in 2015 and the average Seattle condo on Capitol Hill sold for 104.2% of list price in 2016 and in 2015 it was 102.7%.

The Capitol Hill real estate market is similar to Seattle and the surrounding counties.  The overall real estate market in the region (area covered by Northwest Multiple Listing Service which serves 23 Washington State counties) saw an 8.1 increase of sales in 2016 when compared to 2015 with inventory at a record low for most of the year.  For the 23 counties, the median sales price increased 8.9 percent from $310,000 in 2015 to $337,500 in 2016.  Condos, which make up a smaller share of the market, were actually up 12.6% while single-family homes increased 8.7%.

Inventory was tight throughout the year, 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.

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 agent to navigating the Seattle real estate market.

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

Pictured: Capitol Hill Home sold in August 2015 for $2,550,000.

November Real Estate Report!

Like the rest of Seattle, Capitol Hill real estate market continues to be very strong. This past month (November), Capitol Hill had 37 sales. While not a lot of sales, the details are interesting. Last month, the traditional Seattle home was listed for $849,880 and sold above asking price: $1,136,000. Another home was listed for $1,375,000 and sold for $1,510,000. With limited inventory, buyers are competing and raising the prices even higher than asking.  The median average sale price has gone from $447,500 (November 2015) to $567,500 (November 2016). The average highest price has jumped by $204,000 and lowest going up by $55,000. A couple sales can change the average quite a bit, for example Capitol Hill had several small condos sell in, what a difference a year makes!

 

North Capitol Hill Home New to the Market!

klosh1115-60

This quintessential North Capitol Hill Tudor sits privately above the street on coveted 22nd Avenue East, one of Seattle’s finest blocks. Generosity and flow of space are the key elements making this home both luxurious and functional.

The expansive but private front porch is a room of its own–a great spot for breakfast or an evening read. The large, sun-filled living room boasts classic Tudor-style details: original stained glass and leaded windows, beamed ceilings, and a wood burning fireplace framed by a substantial mantel and built-ins. Off the living room is a cozy study with a gas fireplace.

Perfect for entertaining, the spacious dining room is conveniently open to the living area, kitchen, and breakfast room. The chef’s kitchen is well equipped with a commercial range combo–6 burner gas cooktop, double oven, broiler, and griddle–plus ample counter and storage space, counter eating, and a cook’s desk. Just off the kitchen and breakfast room, a decked garden space is lush with mature shrubs, trees, and vines.

The 2nd level features the bright and spacious master suite with walk-in closet, finished sunporch, and full bath; two more bedrooms, one with in-suite bathroom; a stately office with gas fireplace; a 3rd full bath; and hall closet space.

The 3rd level is complete with two large bedrooms, both with a pair of built-in single beds; a full bathroom; craft/work room; large storage room; and another large closet. In keeping with this home’s spacious overall feel, the basement level hosts a sizeable recreation room warmed by a wood burning fireplace; a huge, open laundry area with laundry chute and closet; and, of course, plenty of additional storage space.

Nearby shops and restaurants, parks, excellent schools (both private and public), 10 minutes to downtown, this home meets all your needs and more. Make this your forever home.

Just Listed: Classic Capitol Hill Craftsman

1150 17th Ave E-33

This lovely Craftsman sits on a coveted tree-lined Capitol Hill street, within easy walking distance of Volunteer Park, 15th and 19th Avenue shops and eateries, and both private and public schools, all in a surprisingly quiet setting. Well-manicured landscaping and a rocking chair front porch create an inviting street presence and feeling of “home.”

A formal entry welcomes guests to a circular and nicely flowing floor plan graced with original details including box beam & bead board ceilings, wainscoting, leaded windows, columns, and oak floors. The light-filled eat-in kitchen and adjoining family room have a romantic outlook to Capitol Hill’s canopy of trees with a Cascade Mountain backdrop. A large entertaining deck sits off the kitchen. The upper level has three large bedrooms, including a master with a three-quarter bath; an additional full bath; peek-a-boo views of Lake Washington; and east-facing deck.

The lower level works well for additional living, hobby, play space or easy guest quarters/mother-in-law suite with an additional bedroom, ¾ bath, full kitchen, and common area with French doors as a choice separate entrance. The private and fenced backyard has a level lawn surrounded by gardens and native plantings and access to the large storage area/shop that sits beneath the kitchen deck.

For more information about this home, or to learn more about Capitol Hill real estate, please contact the listing agent, Kristine Losh.

The Details

1150 17th Avenue East

Bedrooms: 4 | Bathrooms: 3 | Sq. Ft.: 2,950 | Year Built: 1904

Available for: $1,300,000

1150 17th Ave E-231150 17th Ave E-22 copy

1150 17th Ave E-31

Pronto Bike Share On A Roll On Capitol Hill

Pronto CycleIf you live on Capitol Hill, you’ve most likely seen one of the bright green Pronto Cycle Share bikes that are docked at 10 locations throughout the neighborhood. So, after three months in operation, are people riding them? According to Pronto’s recently released statistics, the answer is yes, and a large chunk of them are starting on Capitol Hill. The docking station at Broadway and Harrison has the highest number of origin trips out of all 50 stations in the city, with 849, and the stations at 16th and Pine (747 trips) and 15th and Thomas (639 trips) are also in the top 10. Not surprisingly, only one Capitol Hill station, Broadway and Harrison, is on the list for the top 10 destination stations (it appears most of you prefer to ride downhill).

The majority of users were those who purchased single-day or three-day passes (3,501 people), but nearly 2,000 people have signed up for an $85 annual membership, as well. With the 21,026 total trips taken, Pronto users have ridden 43,010 miles – enough to circle the Earth 1.72 times; burned 1,677,390 calories; and saved 34,941 pounds of CO2. We’d say that’s a pretty good start, and numbers should only increase as the weather improves!

Melrose Promenade Plan Taking Shape, Set For 2017 Completion

Melrose PromenadeMelrose Avenue East runs along the western edge of Capitol Hill, and though it provides some of the best views in the city of the Olympic Mountains, the street itself is unwelcoming and often the site of robberies and other crime. A greenway at its north end that should be a perfect place to sit and watch the boats on Lake Union is overgrown and isolated from the rest of the neighborhood.

A group of neighbors has been working since 2010 to transform the street into an inviting promenade that will serve as Capitol Hill’s “front porch”, proposing wider sidewalks, benches, trees and new landscaping (including creation of Bellevue Place Park north of Roy Street), and public art. Aided by a $20,000 Neighborhood Matching Fund grant from the City of Seattle, the Melrose Promenade planning group released a Visioning Project Report in September 2013, outlining the group’s proposed design for the corridor. The planning process took a big step forward this October, as the City announced it would incorporate the promenade project in its citywide network of greenways, and set a project completion date for 2017.

While this is a major victory for the community members who have been working to see this project through, they still need public support, and there will be an extensive public engagement process throughout the planning stage in 2015. So, keep up to date on the project’s website, and if you would like to help fund the project you can do so through the Seattle Parks Foundation.