Greater Seattle continues to experience a very active real estate market with a shortage of inventory plaguing the region.
In September, King County saw a steep decline in homes for sale, down 32.5 percent from a year ago. Historically low interest rates and a strong job market continue to drive the market with new hires coming in from out of state for high tech, medical and other industries.
The pressure on any available inventory has resulted in a dramatic drop in days on market, including here in our neighborhood. Without a home to buy, many
sellers are staying put, resulting in a cycle that perpetuates the low-inventory dilemma.
While we are seeing less multiple offers, homes that are priced correctly are selling in a short amount of time; if you have considered selling, this remains a seller’s market.
The luxury market in Seattle is also increasing. In what is typically reserved for the eastside, Seattle is seeing more uber-highend sales.
In Denny Blaine, Broadmoor, Madison Park and Washington Park, there were 10 sales over $4 million in all of 2020, nine in
2019 and four in 2018. There have already been 15 sales over $4M in 2021, including a pending sale for $35 million, which will be the highest-ever Seattle sale in the Northwest Multiple Listing Service. The ultra-high-end market in our neighborhood is here to stay.
Here’s a snapshot of the recent housing market stats in our area: For Denny Blaine, Broadmoor, Washington/Madison Park July 15, 2021, through Oct. 15, 2021: 33 sold homes
Average Sales Price: $2,077,964
Average Days on Market: 25
Average Price Per Square Foot: $804.30
Lowest Sales Price: $440,000
Highest Sales Price: $8,800,000
SEE PROPERTY, PAGE 4
Evan Wyman Property Views
Falling for fall gardens
How’s your fall color game in the garden?
In the Pacific Northwest, depending on the weather, fall color can be bland or breathtaking — but I welcome either one just as happily. Partly it’s just a touchstone to mark our moment in the year, but mostly, when you know the “Big Dark” is coming — approximately four to six months of slate gray skies — you’ll hoard any color you can.
spots, try a blue Carex (sedge) like “Blue Zinger,” and don’t forget there are darker blue undertones in some hellebores, blueberries, rhododendrons or Mahonia “Soft Caress,” that emerge next to complementary neighbors in warm colors.
Who needs plants to add blue? You could also add blue in the hardscape or décor in the form of slate pavers, a turquoise blue pot or a navy-blue bench.
Which colors make your heart sing? I love solids in apricot yellow, cherry red and pure orange more than muted blends or variegated leaves. I like the darkest purple as an accent but find too much of it gloomy.
There’s no fall foliage I can think of that doesn’t pop next to blue. Look to evergreen foliage to add this accent. Any sunny garden has space for footstool-sized juniper “Blue Star” or 3-by-3 foot Picea glauca “Conica.” If you have room for a regal tree, try Cupressus arizonica “Blue Ice.” For shady
If you want to add some pumpkin spice to your garden’s color palette, take this time to snap pictures of plants and combinations you’re loving in the neighborhood. If you don’t know the plant’s name, Google lens is a helpful tool. Accessed through the Google app, click on the camera symbol, and it searches the web for similar images. I’ve had the best success with plants with distinctive features. Crepe myrtles were mistaken for cherries, for instance, I assume because of the similar leaf shape, but the app
Member | Managing Broker
Global Real Estate Advisor 206.399.5842 | Laura.Halliday@rsir.com
Fall colors are seen in a symphony of color at the Japanese Maple Garden at the
Washington Arboretum.
nabbed silver-gilded and toothyleaved Potentilla lineata.
For the color itself, here are a few favorites I’ve come to love: Red Burning Bush Euonymous alata: Kind of non-descript most of the year, but these are some of the earliest and brightest to fire up in fall. Great for a mixed shrub border, or a come-hither accent
from a distance.
Maples: so many. Acer circinatum (vine maple) rubrum, A. saccharum, palmatum (Japanese maple), especially palmatum hybrid “Red Dragon,” shirasawanum hybrid “Red Dawn” and atropurpureum and aconitfolium types. Dogwoods, especially Kousa dogwood hybrids Sourwood: Oxydendron sp.
— bonus of contrasting ivory dangling bells in autumn Panicle and Oakleaf hydrangeas — some very nice reds and purples.
Gold Gingkos: Gingko sp. create such a luminous canopy of buttery fall sunshine that I bought
What My Clients Are Saying...
“Laura is a wonder. She is kind, professional, and had great ideas as to how to show the house to its best advantage (remove many, many things so that people can see the house). She is a wonderful advocate for you, and she really is right on top of things. She is very honest which is such a wonderful gift and makes it so easy to work with her. She really knows a house and the neighborhood and can help you find your way—either in or out! Her negotiation skills are outstanding, and she will do her very best for you—and her very best is terrific! I cannot say enough good things about her.” -
Julie Hooker
Erica B. Grivas Get Growing
Photo by Erica Browne Grivas
University of
Selling at percent of last listed price: 100.98 percent
Over $2.5M market time is 22 days, and there were nine sales with an average price of $4,243,056
July 15, 2020, through Oct. 15, 2020: 45 sold homes
Average Sales Price: $2,153,997
Average Days on Market: 45
Average Price Per Square Foot: $826.97
Lowest Sales Price: $340,000
Highest Sales Price: $10,000,000
Selling at 100.2 percent of last listed price
For 98112
July 15, 2021, through Oct. 15, 2021: 118 sold homes
Average Sales Price: $1,564,307
Average Days on Market: 21
Average Price Per Square Foot: $666
Lowest Sales Price: $375,000
Highest Sales Price: $8,800,000
Selling at 102.42 percent of original listed price
15 of these are $2.5M-+, and the average market time over $2.5M is 15 days
July 15, 2020, through Oct. 15, 2020:
142 sold homes
Average Sales Price: $1,033,500
Average Days on Market: 38
Average Price Per Square Foot: $653
Lowest Sales Price: $325,000
Highest Sales Price:
$10,000,000
Selling at 101.39 percent of original listed price
My takeaways:
• There were 37 sales in the area in 2020 under $1 million, 30 so far in 2021; inventory in this price point remains stable.
• Year-over-year real estate activity in our neighborhood remains strong and steady with sales up, prices up, and days on market down.
• In 98112, YTD 2020 vs. YTD 2021 shows a nearly 25 percent price increase.
• In Denny Blaine, Broadmoor and Washington/Madison Park, the average home-price increase year over year is nearly 30 percent. While this is a small sample size, these gains reflect not only our lack of inventory but all the reasons we love living in Madison Park — among other things: great neighbors and schools, the cafés and shops in the village, access to Lake Washington and proximity to myriad workplaces.
Some things to consider:
• Time and again, we see that today’s buyers seek homes that are move-in ready. If your house doesn’t present well and isn’t staged properly, the home for sale down the street likely will be and will sell for more. Work with an agent who will advise you about updates and listing prep; if you need help preparing your home for sale ask about our Compass Concierge program.
• While we remain a seller’s
market and prices continue to appreciate, we are seeing fewer multiple offers, and buyers are having to compete less than they did only a few months ago. I recommend that buyers do not take a break from their house hunt during the holidays; this is the time to lean into your search as homeowners are typically very motivated at the end of the year and you will find less competition amongst homebuyers as people travel for the holidays, etc.
• In this market, broker-to-broker relationships are key. Select an agent who has an excellent reputation amongst their colleagues; it will definitely help you stand out in a multiple offer situation and at the negotiating table.
As of press time, there are 11 homes for sale over $2.5M in Madison Park, Washington Park, Broadmoor and Denny Blaine. Two of the residences are condominiums, and the highest priced single-family home for sale is a contemporary villa with 130 feet of Lake Washington waterfront for $14,250,000. If you have given any thought to selling your home, there has not been a better time in recent memory.
In closing, I want to thank everyone who has remained committed to serving our community, supporting our local businesses, and improving this city we love.
Evan Wyman
Broker/Partner
The Wyman Group @ COMPASS
A Trusted Legacy
Brewing up new opportunities
Brewery to open new location in Queen Anne
By Jessica Keller Madison Park Times editor
Chris Moore, local entrepreneur, has big plans for a vacant warehouse in Queen Anne.
Moore, Queen Anne resident and cofounder of Old Stove Brewing in Pike Place Market, and his partner, Brian Stan, announced plans last month to expand their brewery to a new location in Queen Anne.
The pair plans to open Old Stove Brewing Ship Canal, a
production brewery, taproom and beer garden at 600 W. Nickerson St., near the Lake Washington Ship Canal, north of Seattle Pacific University. Plans call for the development to be 24,000 square feet with room to grow. The facility is slated to open in 2022.
Moore said, when choosing a location, the area off of Nickerson was ideal because it had the space needed to expand their operations and offer a venue for live entertainment in the form of music.
It is also part of an area that has its roots in the maritime industry, and Moore said paying homage to heritage and community are central to Old Stove Brewing’s philosophy.
As well, rather than tearing down and rebuilding, plans are to rehab the old building, which is also important to Moore.
“That’s our DNA, and to have
the chance to do that in an old, historical maritime building in Queen Anne, Seattle, is a big deal,” Moore said. “It’s going to be a big deal to have a brewery that celebrates the maritime industry.”
Along with the restoration of an old warehouse, Moore said they will bring a piece of brewing equipment back to life. They will install Fremont Brewing’s original 30-barrel brewhouse at the new Ship Canal facility. Moore said the brewhouse kept Fremont Brewing going until 2017, and he and his partner are proud to take over the equipment that had so much success.
With the move, Moore said the current Pike Place Market location, which was opened in 2016, will be used for smaller batches of brew, while the Ship Canal location will be the hub for its larger operations.
Moore said one of the reasons for the expansion came from COVID-19.
The brewery started canning
its beers during the pandemic because it couldn’t sell anything else, he said.
But Seattleites’ willingness to drink canned ales and beers and desire to support smaller craft breweries allowed Moore and his partner to consider expanding more seriously.
Once the brewery is operational, Moore expects it will increase its production and retail sales in Seattle.
As well, all brewing, taproom and beer garden operations will create 60 new jobs at the new location with additional growth over time.
“It’s a unique opportunity to do good in Seattle,” Moore said.
In addition to locating in an area steeped with maritime history, Moore said this expansion is a way to further grow the craft brewing industry in that north side of Seattle Pacific University.
“When you get a concentration of breweries together, it becomes a district,” he said. “So, the hope
“It’s going to be a big deal to
have a brewery that celebrates the maritime industry.” — Chris Moore, Entrepreneur
is that this emerging maritime district gets some other breweries in it so it becomes a sought out district.”
He also sees an opportunity to create a place in the neighborhood where people can enjoy some food and music with their brews, adding the facility will have some sort of food court, although he does not know what the scale of that will be yet.
Moore said, if all goes well, Old Stove Brewing Ship Canal will begin limited operations from the site this fall, but he anticipates a full-scale opening next spring. Visit Old Stove Brewing at www.oldstove.com.
The owners of Old Stove Brewing, situated at Pike Place Market, will be opening Old Stove Brewing Ship Canal, a new production brewery, taproom and beer garden with space for music events, at this vacant warehouse at 600 W. Nickerson St. in Queen Anne.
COLORS, FROM PAGE 3
a dwarf “Mariken” to keep in a pot by the front door. It only gets 2 feet tall, but it reminds me of dinosaurs, and oh, that color.
Birches: Betulus sp. White or blush-toned bark and bright yellow foliage. Enough said.
The witch-hazels (Hamamelis) and their cousins: in the Hamemilidaceae family — winter hazels (Corylopsis). The UW arboretum is a great place to view these right now.
Eastern Redbud: Cercis occidentalis
Golden Katsura: Cercidiphyl-
lum japonicum — pure yellow with more heart-shaped leaves Carpinus betulus “Fastigiata” — tiny toothed leaved turn golden yellow.
Orange - Orange/Red Japanese Maple Acer palmatum “Waterfall” Cercis canadensis “Forest Pansy” — a blend of orange, yellow and purple colors, but they’re vivid and distinct, with heartshaped leaves.
Cotinus — likewise but with bold, round leaves like mouse ears.
Stewartia — mouth-watering orange-red with lovely peeling bark.
Parrotia — ironwood — beauti-
ful bark and star-shaped leaves Fothergilla –— another witch hazel relative with white bottlebrush flowers followed by a great foliar show.
Don’t overlook perennials for your fall color guard, either — some go boldly into that good night of winter. Perennial geranium, Geranium “Rozanne” takes on red tones on its maplelike leaves. Amsonia hubrechtii turns a beautiful butterscotch, as do most hostas.
For some comprehensive lists, check out thepaintboxgarden.com by Janet Davis for a series of blog posts titled Fall Foliage.
