Seattle Luxury Market $5M + This Year Vs. Last Interesting Points

Seattle Luxury Market $5M + This Year Vs. Last:   Should we be concerned?

Looking at the Seattle luxury homes market for only single family residential properties that are listed for $5,000,000 or more, there has only been one sale that has closed this year!  In Laurelhurst,  a Seattle waterfront home located at 4911 NE Laurelcrest Lane was listed for $9,998,000 and sold for only $8,850,000 in March of this year. At face value this stat alone would likely be cause for concern for property owners contemplating selling their higher caliber Seattle homes.

Since the Seattle real estate market overall is on absolute fire, you have to dig deeper to see what is going on. This property closed in March. One sale in Seattle for over $5 million dollars this year so far.  How does that compare to last year? There were seven single family residences that sold for over $5,000,000 in the city of Seattle all of last year. All seven of these Seattle luxury homes – over $45 million in sales –  closed between 5/31/2016 and 7/14/2016.  You can see details of the sold Seattle luxury homes of 2016 here: seattle luxury homes 2016 .  It is interesting to look at the individual stats for them.  The average days on market for all seven in 2016 was 142 days with a range of 13 days to 368 days. The average sales price to list price ratio is 97.43% with a range of 89.57% to 122.11%. Only one Laurelhurst waterfront home in the list of sales went for over the list price of $4,750,000 with a final closing price of $5,800,000 in only 13 days. Another on the list across the water from Laurelhurst – one of the Broadmoor homes for sale sold for full ask in just 16 days.

Fast forward back to 2017 and where we are now.  There are 14 actives in the MLS for single family residential homes asking over $5,000,000. They range in price from $5,395,000 to $15,000,000 with a median price of $7,725,000.  The cumulative average days on market is 248 wth a range of 6 days to 709 days.  Six of these homes will need to sell between now and July 14th to catch us up to 2016 numbers. On the list, there are only two of these Seattle luxury homes that have reduced their price.  Oddly enough they are both in Queen Anne. One has dropped significantly from $7,500,000 to $5,395,000.  It has been on the market for 709 days.  The other is also a Queen Anne home for sale which has dropped their price form $7,500,000 to $6,895,000 and has been on the market for 216 days.

Back to my question – Should we be concerned with regards to the 2017 Seattle luxury home market?

My answer:  not yet.   We need to keep an eye on this.  If we catch up tot 2016 numbers and then sell our all 14 of the current listings then we are going to be pulling down much bigger numbers for 2017 and this should be encouraging for those thinking about selling. This should be the trigger if you are on the fence about selling. The buyer pool once you cross the $5 Million dollar threshold is much smaller so if our market has grown to be able to support 14 sales in one year to high net worth individuals for over $5,000,000 then this is cause to be recognized as a major achievement in the market.

Need help selling your home?

If you are thinking about buying or selling a Seattle area home, please let us know how we can be at your service.  Our team of brokers is reliable and honest and we work hard for you.  Our goal is to meet and exceed your goals.  homes@cooperjacobs.com call/text 206-850-8841

Magnolia View Home For Sale: Open Tomorrow 12-4

Magnolia View Home in Carleton Park

Interested in living near Ryan Lewis?  Word on the street is that Macklemore’s partner just bought in Magnolia and not too far from this Magnolia view home either.

Magnolia View Homes For Sale

Carleton Park is highly sought after and this one has one of the most gorgeous views! If you have been looking at Magnolia view homes, then please take a minute and look at this one.  It is a perfect home for a Seattle Mariner baseball player (hmmmm… I think Mr. Moyer would agree.), but also well suited for anyone who wants to call Magnolia home.

  • 5 Bedrooms
  • 3.25 Baths
  • 3200 Square Feet
  • Built 1958

From the listing of 2520 42nd Ave SW:

You will find this large, contemporary home well-placed on one of Magnolia’s most sought-after streets. Enjoy the warmth of two hearths on the main, oak flooring throughout, designer Ralph Lauren paints, modern floor plan, and tasteful finishes. Chef’s kitchen properly outfitted with stainless appliances & gas range; entertainer’s deck off of the living room invites you to take full advantage of the beautiful Puget Sound view and fresh breeze that grace this desirable location.

$1,149,000   *SOLD*

 

Live Sleepless In Seattle Style On A Lake Union Floating Home

Beautifully Updated Seattle floating home for sale…

seattle floating homes for sale

2031 Fairview Ave E, Houseboat “P”

$775,000

Stunning Eastlake Seattle floating home for sale and new on the market—2 bedrooms, 2 baths, bamboo floors, new windows, new exterior paint, roof top deck, window seat, room for your small craft or water toys, LARGE 10 x 4 ft kitchen island for entertaining & a cook’s dream!

  • 2 Bedrooms
  • 1.75 Baths
  • 1100 Square Feet
  • Built in 1985
  • Owned Moorage
  • $385/month dues
  • LOW yearly taxes at $2005/year
  • roof top deck
  • updated finishes throughout

Beautiful surfaces and finishes everywhere you look! Hip glass“garage door” let’s in the light & the fresh air and is just one of the reasons you will fall in love with this home!  Here are some more pictures or you can see the full listing here:  2031 Fairview Ave E #P

For Your own private showing or for more information on this Seattle floating home or other Seattle houseboats, please get in touch with Seattle floating homes Realtors Courtney Cooper (courtney@cooperjacobs.com) or Molly Cartwright (molly@cooperjacobs.com or 206-841-6800) of Cooper Jacobs Real Estate. If you are interested in other Seattle floating homes for sale, we would love to show you what is available besides this beautiful property.

3794 NE 97th St, Seattle, WA 98115 Just Listed By Cooper Jacobs Real Estate

*SOLD* From the listing on this great Matthews Beach home for sale:

This custom,classic home with a charming, English garden in Matthews Beach is updated and ready for entertaining! Hardwood floors and custom wood clad bay windows in the dining room & kitchen w/family room opens to the English garden and lush yard. The kitchen w/high end appliances is perfect for cooking and entertaining in style. Upstairs,4 bdrms incl large master bedroom&bath with walk in closet and additional full bath.Daylight bsmt/media rm, 3/4 bath, shop included! Easy commute to UW/Dwntn.   $749,000

Listed byCooper Jacobs Real Estate realestate@cooperjacobs.com

Matthews Beach, $749,000 - Image 6

The Historic and Iconic Admiral’s House Is For Sale In Seattle

Welcome home to one of the most  exceptional estates in Seattle with arguably the best views in the city.

The Admiral's House

The distinctive Admiral’s House is a stunning combination of notable architecture, remarkable history, and unparalleled location. Situated on 3.89 acres above Smith Cove, this unique 7316 square foot eight bedroom residence takes in unobstructed Southwest views of Downtown Seattle and the Puget Sound as no other home in Seattle can.This premier three story gated estate has enjoyed an extensive and refined history as housing for the Admirals of the Navy since World War II.  Many highly esteemed government officials and foreign dignitaries have frequented it and cemented its historical significance. In fact, Quarters A, as it was called by the Navy, is designated as a City of Seattle landmark and nominated for listing on the National Register of Historic Places. (SOLD)

Seattle luxury real estate

For more information:

Courtney Cooper, Designated Broker, Cooper Jacobs Real Estate, 206.850.8841, courtney@cooperjacobs.com
Cooper Jacobs Real Estate Platinum Properties Division is a registered trademark of Cooper Jacobs Real Estate, LLC

Magnolia Luxury Home Market Update

Magnolia $1.5 Million And Up Real Estate Market:
What’s happening out there in the upper end of the Magnolia real estate market?

Currently, there are 15 Magnolia homes for sale in the Magnolia luxury market.

These Magnolia estates range in price from $1,575,000 to $4,850,000 and include a certain ex Seattle Mariner Mansion. The median price is $1,730,000 with an average days on market of 165 days. The average square feet of these Magnolia Luxury Homes? 4,549 with a high of 7100 on one of the Magnolia luxury estates for sale.

Currently, there is only 1 Magnolia home for sale that is Pending in the $1.5M and up range. The days on market for it are 149 days and it’s last list price in the NWMLS was $1,585,000 after being reduced from its original listing price of $1,687,000.

Since January 1st 2011, 10 Magnolia luxury homes have sold in the MLS. These ranged from $1,630,000 to $4,700,000 with a median price of $1,922,500. Of these, 4 have closed in 2012. The average sales price to list price ratio on them is 91.19%. None sold for over list, but all except one were well into the 90% and up range of list price. Here are the Magnolia luxury properties that have sold in 2011 and 2012 so far:

  • 2807 W Viewmont Wy W: 6 Bedroom Magnolia home, 3.25 baths on 0.294 of an acre built in 1928. Closed on 03/13/12with Original list price in MLS: $1,950,000, final list price: $1,697,000, SOLD for:$1,630,000 (96.05% of sales price to list price)
  • 3805 W Parkmont Place: 4 BR, 4.50 BTH, 4,440 SQ FT, 0.115 ACRE LOT, Built in 1999, Closed on 04/18/11. Original list price of $3,695,000, final list price of $1,800,000 and sales price of $1,700,000 (94.44% of sales price to list price)
  • 4517 W Dravus St: 5 BR 4.00 BATH 4,400 SQ FT Built in 1962 closed on 06/28/11. $Original list price: $2,390,000, final list price: $1,998,000, final sales price: $1,800,000 (90.09% of sales price to list price)
  • 2336 Magnolia Blvd W: 3 BR 2.50 Bath 3,500 Square feet, 0.126 acre lot size and built in 1926. This Magnolia home sold on 06/28/11 with original list price in MLS of $2,600,000, final list price of $1,999,500 and final sales price of $1,835,000 (91.77% of sales price to list price)
  • 3057 Perkins Lane W: 4 BR 2.25 Bath 2,400 Square feet 0.394 acre lot size and built in 1960. This Magnolia home sold on 04/29/11 with original list price in MLS of $2,000,000, final list price of $2,000,000 and final sales price of $1,950,000 (97.50% of sales price to list price)
  • 2720 W Galer St : 7 BR 5.75 Bath 9,847 Square feet 0.263 acre lot size and built in 1909. This Magnolia home sold on 04/23/12 with original list price in MLS of $2,195,000, final list price of $2,195,000 and final sales price of $1,895,000 (86.33% of sales price to list price)
  • 2480 Crestmont Place W: 5 BR 4.75 Bath 5,700 Square feet 0.130 acre lot size and built in 2007. This Magnolia home sold on 12/22/11 with original list price in MLS of $3,300,000, final list price of $2,900,000 and final sales price of $2,105,000 (72.59% of sales price to list price)
  • 2823 W Galer St: 4 BR 5.25 Bath 5,330 Square feet 0.227 acre lot size and built in 2009. This Magnolia home sold on 02/29/12 with original list price in MLS of $2,985,000, final list price of $2,985,000 and final sales price of $2,900,000 (97.15% of sales price to list price)
  • 2929 W Eaton St : 6 BR 4.00 Bath 7,260 Square feet 0.201 acre lot size and built in 1936. This Magnolia home sold on 11/18/11 with original list price in MLS of $3,999,000, final list price of $2,999,000 and final sales price of $2,700,000 (90.03% of sales price to list price)
  • 3025 Magnolia Blvd W: 4 BR 5.25 Bath 11,280 Square feet 2.110 acre lot size and built in 1940. This Magnolia home sold on 02/13/12 with original list price in MLS of $4,900,000 , final list price of $4,900,000 and final sales price of $4,700,000 (95.92% of sales price to list price)

Overall look at Magnolia luxury markets and Magnolia historical estates markets: Funding for these types of homes has opened up to the point that affordability has broadened making Magnolia luxury homes and Magnolia historic Mansions more desirable than they have been even in the past if that is possible.

Many Magnolia home owners are not aware that there is a wider pool of qualified luxury Magnolia home buyers and as a result inventory is still lacking. If you have been thinking about getting your Magnolia historical estate, Magnolia estate, or Magnolia luxury home on the market, then please let us know. We have inquiries weekly both from local Seattle home buyers and home buyers interested in relocating to Magnolia in Seattle. In addition,Cooper Jacobs Real Estate has a high profile Internationally on the Internet and is able to gain our clients greater exposure for you online through various avenues. Our marketing is innovative and different. In addition to all the traditional methods of marketing used by all Magnolia Realtors, Cooper Jacobs will surprise you and often our competitors with a very fresh approach. You can get in touch with us here: realestate@cooperjacobs.com Thank you in advance! ~Courtney

Magnolia View Homes Tour

We toured all the latest in Seattle’s Magnolia neighborhood as well as some other Magnolia homes we have just been too busy to get into before today and the inventory is pretty interesting on both the A Hill and the B Hill.

Magnolia View Homes In Decent Price Ranges…

Just looking at the mid $600k range to mid $800k range in Magnolia can give you choices with lots of big Puget Sound views. In fact in the low and mid $700k range, there are IMPRESSIVE Magnolia view homes for sale.

My favorite Magnolia home on the market right now is in the high $700k range, but has this fabulous 2 car garage off the alley which is modern but was built perfectly to go with the house.  The house itself is loaded with all the spaces I personally look for in a home and a great option for Magnolia buyers. Homes in Magnolia do tend to sell faster than Seattle real estate overall right now. This is not always the case, but overall Magnolia tends to be a stronger market force.

Magnolia real estate market update: We just sent out a postcard to about 1300 Magnolia homeowners to let them know about our latest Magnolia homes sale – 3 weeks on the market with multiple offers and sold for over list which happened to also be about $50k higher than any other Magnolia real estate agents told the seller their home was worth.  We go the extra mile for YOU and really take the time to evaluate the market value of your home so that you are not leaving money on the table.

Lake Union Waterfront Views From Gas Works Park

Yes, I do love Lake Union!  Here is a great shot I got of Lake Union from Gas Works Park while I was checking out the  collection of stand up paddle boards at Urban Surf (they have a great selection of SUP boards along with all kinds of other great gear) on Northlake…..  You can see over to the right across the lake the colorful Seattle houseboats at Roanoke Reef.  I love the flowers on the ground!

Lake Union

Let us know if you are interested in looking at Seattle houseboats for sale.

Lake Washington Homes Across The Puget Sound

Are you interested in Lake Washington Homes?
Lake Washington is much bigger than many people realize and it touches the shores of many interesting and unique communities….
Lake Washington waterfront homes vary in size and style and no two seem to be the same.  One thing that is consistent is the fabulous access to Lake Washington.
You can actually browse through some of the Lake Washington waterfront communities on our site here
This is only a small sampling of some of the many communities along the banks of Lake Washington.  Let us know if you would like to see some of our favorites!
realestate@cooperjacobs.com

Laurelhurst Waterfront Home Sold By Cooper Jacobs Real Estate

Congrats to Cooper Jacobs Broker Morgan Cooper and his clients!
Here is the latest of the Webster Point Laurelhurst Waterfront Homes that have been sold  (by Morgan Cooper and closed this week) –  Laurelhurst waterfront homes are quite desirable (don’t forget about the share in the Webster Point  waterfront tennis court that happens to be an added perk of Webster Point homes)  Here are the stats –

3006 Webster Point Rd NE, Seattle, WA 98105  (Laurelhurst waterfront home on Lake Washington)

Webster Point Waterfront

Significant Laurelhurst Waterfront Estate

5 bedrooms

3.75 baths

5300 Square Feet

Built 1965 with noted significant contributions by Architect Lionel Pries

.317 acre Lake Washington waterfront lot with beautiful beach

private dock for up to 4 boats

List Price in MLS:  $5,500,000

(originally listed by another real estate broker in March 2010 for $6,800,000)

Final Sales Price:  $5,400,000

Close Date:  10/14/2010

Lake Washington Waterfront Beach

Selling Broker:  Morgan Cooper

Cooper Jacobs Real Estate Services

morgan@cooperjacobs.com  206-898-6576

If you are interested in Laurelhurst Real Estate or other Seattle real estate, please feel free to get in touch with one of our real estate brokers.