The Denny-Blaine neighborhood had relatively few homes sales in the first half of 2009. Some of that may be due to the tight lending market in the jumbo and super-jumbo mortgage arena, although many homes here are purchased in cash transactions.
There have been just 3 sales in Denny-Blaine in 2009 according to the NWMLS as of 06/16/09. The first two are atypical of the neighborhood, but interesting homes and properties. A small condominium/cottage in the Lake WA Cottages. This small cluster of 1 bed/1 bath homes has an HOA like normal condominiums, but the feel of a detached home. At under 500 sq ft, this cottage sold for $365,000. It's cozy living, but it's just steps from the Lake Washington waterfront.
The second home sale was a 3 bed, 2.75 bath home with one story and a basement. The home sold at $435,000, again far below the normal selling price for Denny-Blaine. The home is accessed from an alley and had some "unfinished" remodeling projects, which probably explains the low price. The new owners now live in one of the most affluent neighborhoods of Seattle and barely broke through the median Seattle home price. In contrast, current Denny Blaine homes for sale range from $1 million to $15 million, with 25% of those homes being priced over $5 million.
The third sale this year in Denny-Blaine was more typical for the neighborhood. A 6 bed, 5 bath home on half an acre sold for $2.7 million after originally being listed at $3.2 million. The property also had a full guest house, 4 fireplaces, and vast gardens. It had been on the market about 10 months before selling.
Sam DeBord and Brian Wiegand
SeattleHome.com (206) 431-5900
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