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!

 

Capitol Hill William Bane Home-For Sale

This Capitol Hill home for sale is a William Bain residence with glorious views of Lake Washington, the Cascades and the Arboretum.  The three bedroom, two bathroom home has been remodeled throughout, and has many delightful features including a granite entryway.  The gorgeous kitchen has high-end appliances, pretty moldings and millwork, and oak floors.  The home also has newly insulated windows and two walk-out decks.  Enjoy surround sound, recessed lighting, and air conditioning throughout this unique Capitol Hill home.  Please follow the link to find full listing details and photos or click here to search for other Capitol Hill homes for sale. 

Status: For Sale
Listing Price: $939,950
Bed/Bath:  3,2

Mediterranean Home-For Sale

This stunning Capitol Hill home, located up the hill from Seattle Preparatory and Interlaken Park is a Mediterranean beauty is new on the market and under renovation.  The home, which is currently unfinished,  is listed for sale at $2,500,000,has all new systems and priced for the finished product.  The home was originally built in 1922 overlooks Lake Washington, the Cascades, Interlaken Park and the University of Washington.  The five bedroom, four bathroom home has 7,390 sf of gracious interiors perfect for entertaining.  The homes technical updates do not overshadow the original plasterwork and fine finishes.  The home is close to Volunteer Park, shops and cafes.  Please contact a listing agent to find more information about this Capitol Hill home for sale

Status: For Sale
Listing Price: $2,500,000
Bed/Bath: 5,4

Interlaken Park Capitol Hill Home-For Sale

This Picture perfect stucco home in the Interlaken Park neighborhood of North Capitol Hill is currently for sale.  The home is remodeled throughout, but still maintains the original character.  It sits on a sunny, corner lot with pretty grounds.  The interior features include lovely hardwood floors, coved ceilings, beautiful  millwork, grand rooms, and a new kitchen with slab counters and stainless appliances with a balcony offering awesome views.  The 2.25 bathrooms have been remodeled as well. There is a good sized basement w/ high ceilings to add to this 2,750 sf home.  The convenient location is close to 19th restaurants, schools, and parks with easy access to buses, UW, hospitals, downtown and freeways.  See more details on this Capitol Hill home for sale.   

Status: For Sale
Listing Price: $749,500
Bed/Bath: 3/2.25