Magnolia Real Estate Report for June

August Real Estate

Needless to say, the month of June was an absolute scorcher in Seattle, and so too was the real estate market in Seattle’s Magnolia neighborhood. As we know, the summer months typically signal the busiest time of year for real estate transactions, and we saw this to be true when we look at last month’s statistics. Let’s take a look at some of the real estate highlights for the month of June in Magnolia:

According to the Northwest Multiple Listing Service, June brought about the sale of 47 single-family homes. The median sales price of those 47 homes was approximately $831,134. The homes that sold in the month of June averaged being on the open market for just 26 days, and the total dollar amount of those transactions totaled roughly $39,063,319. That’s pretty incredible for a month’s work!

There were also 11 condominiums sold in Magnolia in June at a median sales price of $354,454 and averaged being on the market for only 13 days.

As you can see by the statistics provided above, the real estate Market in Magnolia continues to be extremely dynamic, and that’s not anticipated to change as summer continues to roll on in the Pacific Northwest. For more information on  Magnolia (and Seattle) real estate, or if you are curious about what your house might be worth in this strong market, please contact your local real estate broker for a free market analysis and conversation about your home.

July Real Estate Report for Magnolia

ella-bailey-park-4

As our hot Seattle summer continues to drag on, thereal estate market continues to be quite dynamic, including Magnolia, which has seen a ton of activity. According to the Northwest Multiple Listing Service, July brought about 26 single family home transactions, at a median sales price of $668,000.There were 69 homes available for sale in July. Of the 26 homes that did sell, they averaged being on the open market for 10 days, which is great news if you’re looking to sell your house!

Magnolia also had 16 active condominiums for sale in the month of July. Of those 16 condo’s, six were sold for a median sales price of $294,500.

Statistics continue to support that the Seattle –and Magnolia –real estate market has stayed hot, and you can bet that will continue to be the case all the way through the end of summer, which is typically the busiest time of year for real estate transactions. For more information on Seattle real estate, contact your local real estate agent today.

Magnolia Real Estate Report

school-view

The Seattle real estate market continues to be quite dynamic, including Magnolia, which has been seeing a ton of activity. According to the Northwest Multiple Listing Service, the month of May brought about 31 single family home transactions, at a median sales price of $738,000. Buyers seem to be eager to find a home in Magnolia, as the 31 homes that were for sale last month averaged out to being on the market for only 10 days. That’s good news if you’re looking to sell!

Magnolia also saw sales of four condominiums in May. The median sales price of the condos went for $538,000 and averaged being on the market for just 13 days.

Statistics continue to support that the Seattle –and Magnolia –real estate market has stayed hot, and you can bet that will continue to be the case as we get closer to the summer, which is always the busiest time of year for real estate transactions. For more information on Seattle real estate, contact your local real estate agent today.

 

Dine Around Seattle

It is time for, yet again, the biannual “Dine Around Seattle” event that invites residents to come out and support local business and restaurants around our great city.  From November 4th-29th, there will be a wide selection of great deals and discounts at various locations around Seattle.  Most restaurants are offering “3-Course Dinners for just $30” and some are even including “3-Course Lunches for $15.”  Come out and enjoy exclusive deals and seasonal dishes from the top chefs every Sunday through Thursday throughout November.

The event is put on by the Seattle Good Business Network.  They are in their eleventh year of hosting by stressing the strengthening of our community through the support of local businesses.  One of the top-rated businesses is located in our very own, Magnolia, is that of the Palisade’s Waterfront Restaurant.

Located in the heart of the Elliott Bay Marina, the Palisade, displays cultivating views of the water and sea-craft that port there.   Even with beautiful outdoor views, there is still an aesthetically-pleasing interior that gives off a soothing feeling to its visitors.  First, it is hard to miss the large water tank, near the entry, that keeps the Dungeness crab extremely fresh.  Secondly, they have a saltwater pond, filled with live Steelhead, that guests are able to walk over with a bridge conveniently located in the center of the restaurant.  Lastly, they have a mixed variety of seafood, steak and sushi that can meet expectations as restaurant-goers can taste the time and effort put into each dish.

Price Drop on Magnolia Townhome: $382,000

It is difficult to find this low of a price point in this neighborhood of Seattle!  This three-level townhouse is available in the beautiful neighborhood of Magnolia.  This area is known for its family-friendly environments and beautiful views of Puget Sound.  Only minutes from downtown, this three bedroom townhome is in a prime location.

One of its unique features is how every bedroom contains its own bathroom and there is also an extra powder room on the main floor.  Also, the kitchen is completely updated with stainless steel appliances, granite countertops and cherry cabinetry.

The backyard is completely fenced off and offers a cozy patio.  It is a perfect area to start a garden as it receives great sun exposure.  There is an abundance of street-parking around the unit, not to mention the one-car garage that is attached.

Don’t miss out on this opportunity.  If you are interested in viewing this unit or getting more information, please visit www.ewingandclark.com.

Mixed Reviews on New Inspection Regulations

The city of Seattle has recently approved a program that would require an inspection on all rental property.  Landlords would be required to register their properties with the city, which allows them to keep track of all rental properties in the county.  The program would begin in 2014 and has received mixed reviews from the community.

One aspect that has received some buzz is that of the landlords having to pay for this mandatory inspection.  There is a large discrepancy between landlords who are more hands-on and take better care of their properties compared to those who don’t.  Those that take pride in their properties feel they are getting punished even though they are doing everything possible to make their rental livable and safe.

Another issue at hand is that of the inspection fees.  Tenants are worried that the landlord is going to pass off the inspections costs onto them.  This has come as some concern as Seattle’s rental prices are already high.  With so many losing their homes to foreclosures and short sales, this inspection fee may be yet another cost for those looking to rent in the Seattle area.

Regardless of the complaints, the inspection program has been passed by the city and will take effect in 2014.  Landlords need to take the necessary precautions to make sure their property is up to code.  Whether that is being more involved or spending on improvements, landlords should be aware of hefty fines if they do not pass the inspection.    With the rental market at an all-time high here in Seattle, there may be more regulations coming soon.

Fort Lawton Townhomes

Located on the western side of Discovery Park, Fort Lawton sits in a quaint manner on the bluff of Magnolia.  It was constructed in the early 1900’s with aspirations of being a major military presence in the Pacific Northwest.  The fort was a defensive development, which consisted of a vast majority of artillery weaponry, to defend against naval and air attacks.  The fort saw the most action during the world wars, but sat vacant for long periods of time.  Time passed and in the 1970’s, the fort and all of its property were given to the city of Seattle.

There are twenty-six units built within fourteen buildings near Discovery Park that make up Fort Lawton.  These historical military structures are now being offered up for sale to the highest bidder.   The city hasn’t set a minimum asking price, they are taking all offers (although, they are expecting offers to be in the millions).  The area is considered one of the most pristine in all of Seattle, as it contains breath-taking views of Puget Sound and Elliott Bay.

The homes have been preserved since 1974 and are considered official city of Seattle landmarks.  They are not allowed to be modified on the outside and very limited alterations are allowed on the interior.  The city feels the fort gives off a feeling of patriotism and freedom.  They are also hoping the exclusivity of the property is maintained and that any future buyers would respect Fort Lawton’s rich history.

Changes in Seattle’s Land Code Use Allows Magnolia Cottage

As reported in the Seattle and Real Estate blog, Seattle changed its land use codes in 2009 to permit backyard cottages. Since then, they have been sprouting up throughout the city of Seattle, including Magnolia.

According to the Magnolia Voice, a couple took advantage of this land-use change and built their first backyard cottage. The 2-bedroom, 800 sq.ft cottage will be used as a vacation rental and home for the woman’s father in the coming years.

If you’re curious about backyard cottage and want to find out more, there will be a open house at the backyard cottage – 3448 36th Avenue West – from 1pm-4pm on Sunday, January 15th.

Four-Story Apartment Building Proposed in Magnolia

According to the Magnolia Voice, the block of 2400 and 32nd Ave West has some proposed changes in the works. The owner of two vacant, single-story Magnolia commercial buildings located at 2406 32nd Ave West, Terry Yoshikawa, recently filed plans with the city to build a four-story, mixed-use apartment building.

The proposed Seattle property would have 28 units, 3,500 square feet of commercial space, and 33 parking spaces. It sounds like an improvement to this residential Seattle neighborhood. To voice your opinion whether in support or against this proposed Seattle construction, attend the public meeting held at the Queen Anne Community Center at 1901 1st Ave West on Wednesday, January 18th at 6:30pm.

Beautiful View Home-For Rent

Magnolia Home for Rent

This beautiful four bedroom, 2 bathroom home in Magnolia Seattle was built in 1926, overlooking the Puget Sound and The Olympic Mountains.  The brick Colonial home sits on over a half acre of land off of a quiet street.  The gracious day rooms and windows bring in lots of light, and the beatufiul master bedroom features a bathroom, fire place and office.  The home has a large, unfinished basement and an elegant circular drive and garden at the front of the home’s exterior.  This Magnolia view home is currently available for rent at $3,950/mo.  Please follow the links to find full listing details and photos of the home, or search other Seattle luxury rentals.

Status: For Rent
Bed/Bath 4,2
Listing Price: $3,950/mo