King County Rental Market: June Recap

Featured rental: 1375 32nd Ave. S

     Featured rental: 1375 32nd Ave. S

King County rental activity was up in June from May with 299 leased properties, according to stats from the Northwest Multiple Listing Service.  This number is down from the same time last year, when there were 324 leased properties in King County.  Currently, there are 283 available King County rentals on the NWMLS, with 74 of those in neighborhoods within five miles of the downtown Seattle core.  The current highest asking price is $10,000 per month for a 2 -bedroom, 2.5-bath condo in the Four Seasons Private Residences in downtown Seattle.  If you are interested in renting in the Seattle area, contact us today!

Most Expensive Active Seattle Luxury Rentals

Although we usually profile and feature “run of the mill” luxury rentals, today I’d like to feature some of the most expensive active rentals on the market in Seattle and environs. We’re talking like… top 10. Yeah, the big kahunas. Not that the other’s aren’t enviable to say in the least!

10. $8,500

Located in Belltown, this property boasts not only views of downtown, but also Puget Sound and the Space Needle. With a gourmet kitchen, floor to ceiling windows, touch screen sound system, garage parking and two storage units. Listed by Joseph Kelly of Soleil Real Estate of Seattle.

9. $8,500

This contemporary Lake Union home boasts a 270 degree view of the water, heated floors, top of the line kitchen appliances and marble bath. This 1,000 square foot house was built in 2011 and has been on the market for 139 days and is listed by Scott Wasner of Sotheby’s.

8. $9,800

Want a penthouse? Who am I kidding, of course you do. And nowone is up for grabs! For rent at least. This 26th floor, 3,081 square foot residence boats three bedrooms and enormous 290 degrees of skyline, mountains, and water. Oak floors, maple cabinetry, gas fireplace, and a chefs kitchen. On the market for 44 days, this property is listed by Julia Tsurusaki with Pointe3 Real Estate.

7. $10,000

Out next most expensive property calls Mercer Island home. Originally listed at $12,000, this 3,880 square foot gorgeous waterfront home features a newly remodeled kitchen with an ensuite deck and jacuzzi tub (uh, that’s awesome). 85′ of waterfront with moorage and dock, two jets lifts and a boat lift. Nicely settled near some parks, what could get better? Not much, that’s what. Listed by Anthony Yap of TAG Realty.

6. $10,000

Tied at $10,000, this Laurelhurst home has only been on the market for a month. Fully furnished with views of Lake Washington, this 4,660 square foot contemporary northwest home comes with Laurelhurt Beach Club access. Offering five bedrooms and four bathrooms, it’s listed by Timothy Lenihan of Windermere Real Estate.

5. $11,000

Now, this one has me drooling. This unit is within the Four Seasons Private Residences Seattle. Two bedrooms and a den, valet parking, 24 hour security and concierge, mile high views, this 2,082 square foot overlooks the Great Wheel through floor to ceiling windows. With a gas fireplace and an ultra modern kitchen, it’s enough to make anyone go gaga. Listed by Scott Wasner of Sotheby’s.

4. $11,000

Another beauty at $11,000, the stunningly designed Arthur Erickson Highlands home is a looker. Having seen this sumptuous property myself, the views and grounds as well as the guest house, I can say will all certainty that it. is. worth. it. Listed by our own Betsy Terry of Our Distinctive Home Shop in Madison Park, this 7,470 square foot masterpiece is constructed  from polished concrete, with a glass ceiling. Mountain and sound views, and a Pemberley-esque (We got any Jane Austen fans out there? No? Just me? Okay) park off the swimming pool.

3. $12,500

Located in Hunts Point and built in 1995, this home is nestled on prime waterfront with lake, city, and mountain views. Designed by Curtis Gelotte, the house is nestled between manicured landscaping and old growth trees. With moorage and a dock, this 3,710 square foot home is full of natural wood and stone details, evoking the architectural style of the pacific northwest. Listed by Anna Riley of Windermere Real Estate.

2. $18,000

Another jewel of Hunts Point, this residence boasts a stunning Chihuly glass chandelier hanging from a sky-lit ceiling. This 3,000 square foot west-facing residence features rustic timers, posts, and beams embodies pacific northwest architecture and art. Listed by Tere Foster and Moya Skillman of Windermere Real Estate.

1. $20,000

Topping our list is a mansion in Clyde Hill. At 6,000 this european designed six bedroom, eight bathroom masterpiece was custom built in 2007. With a gated entrance and a large pool in the backyard, a large up to date kitchen, and an indoor jacuzzi. Listed by Robert Radulescu with The Force Realty.

Well folks, which one is your favorite??

Walkability Score- What is it and why does it matter?

Pioneer Square Pergola

Pioneer Square Pergola

Walkability- it’s a word that some of you may be familiar with already, and one that real estate marketing often uses. But what exactly does it mean?

Used by Walkscore.com, it’s intended definition is to indicate how easily and readily connected a property is to the neighborhood and community around it. For instance, is the nearest grocery store within easy walking distance? Or would it be necessary to drive there?

The higher a property’s Walk Score (or Transit Score or Bike Score) on a scale of 1-100, the more connected the neighborhood is with the property. Take this chart example. But what makes a community walkable?

  • A center: Walkable neighborhoods have a center, whether it’s a main street or a public space.
  • People: Enough people for businesses to flourish and for public transit to run frequently.
  • Mixed income, mixed use: Affordable housing located near businesses.
  • Parks and public space: Plenty of public places to gather and play.
  • Pedestrian design: Buildings are close to the street, parking lots are relegated to the back.
  • Schools and workplaces: Close enough that most residents can walk from their homes.
  • Complete streets: Streets designed for bicyclists, pedestrians, and transit.

Now, why is this score important? It’s generally known that those who walk more, whether it’s just a few steps or hundreds of steps a day are generally healthier than those who don’t. By walking more, not only do you get outside, but you also use your car less, and thereby reduce your carbon footprint. If you were able to find a property in a highly walkable area, you might be able to forgo the car altogether!

And here’s some great news: Seattle is rated as one of the most walkable cities in the U.S.! With a Walk Score of 71, a Transit Score of 57, and a Bike Score of 64, Seattle is the 8th most walkable city, with it’s most walkable neighborhoods being Downtown, the Denny Triangle, and Pioneer Square.

How important is the walkability of the neighborhood to you when looking for a new property?

Seattle Rentals May Monthly Recap

King County rental activity dropped in May from April with 262 leased properties, according to stats from the Northwest Multiple Listing Service.  This number is down from the same time last year with 354 leased properties in King County.  Currently, there are 287 available rentals on the NWMLS, with 56 in neighborhoods within 7 miles of the downtown core.  The current highest asking price is $8500/mo for a 2 brd/2.b bath condo. shorewood

For more information about Seattle rentals, please contact me at anytime.

Seattle Rentals April Real Estate Recap

King County rental activity dipped in April, compared to March with 306 leased properties, according to stats from the Northwest Multiple Listing Service.  However, this number ticked up from the same time last year, which was 295 leased properties in King County.  The market continues to stay strong, with 68 available properties within 6 miles of the downtown core with high price tags-the highest asking rent priced at $12,000 for a 2 br/2 bath penthouse in Belltown.

bellevue home

Rents continue to increase as the Seattle vacancy rates remain at a low 3.6%, according to an article from Seattle Rental Group.  This is up just .07% from the same time last year. For more information about Seattle rentals, contact me at anytime.

Current Stats On Seattle’s Apartment Rentals Market

nate rental dt

PubliCola has some interesting statistics on the Seattle rentals market, pulled from the April 1 city council planning committee meeting, where Mike Scott of the rental-market analysis firm Dupre+Scott gave his take on the situation. In summary:

– Supply and demand has affected rent fluctuation more than increased development has. According to Dupre+Scott, low housing supply has led to increased rents, and an excess of available apartments pushes rent down, in line with the classic supply and demand model.

– While average rent in the Seattle market as a whole has gone up in recent years, that is mostly due to the inclusion of newer apartment buildings that rent units at rates from $1,300 to $2,000 per month. Rents at older buildings (built before 2009 with rents between $800 and $1,300 per month) have actually risen at a slower rate than the cost of maintaining them has. The age of the building you choose to live in will often have a dramatic influence on what your rent will be: For apartments built in 1997 or earlier, the average rent is $1,100 per month, whereas rents in buildings newer than that average $1,700 per month.

– Think you’ll get more space for your money with those higher rents? Average square footage has actually decreased from 750 square feet in the mid-90s to 650 square feet today.

– More rental-housing development is happening in the city of Seattle than in the suburbs, and the trend seems to be toward smaller apartments in denser areas where public transportation is readily available and residents can walk to restaurants, coffee shops and grocery stores. In certain Seattle neighborhoods the number of apartments available for rent is growing by huge percentages. In Ballard, for example, the number of rental units available is expected to grow by 250 percent between 2009 and 2018, and downtown could see a 200 percent increase in the same time span.

Interested in renting in Seattle? Contact your local real estate agent for more information!

Downtown Condo For Rent: $1,700

rm condo

This gorgeous 1 bed 1 bath NW facing condo unit in the Meridian Condominium is now available for rent. Features include beautiful views of Lake Union, Capitol Hill, downtown, and Puget Sound. The kitchen has all tile flooring, stainless steel appliances, slab granite counters with tile back-splash, and maple cabinets. The condo also features high ceiling, fireplace, and floor to ceiling windows in living room for maximum views. The bedroom has a deep closet, and attached deck with views. The Meridian Condo includes 24 hour security, concierge, steam room, entertainment room, hot tub, fitness center and guest parking. If you’re interested in this unit, or other Seattle rentals, please contact your local real estate agent today.

Status: For Rent
Bed/Bath: 1//1
Price: $1,700

Belltown Condo Rental: $3,300

Bellora rental

This beautifully appointed 2 bedroom condominium in the desirable Belltown neighborhood is available for rent. This large 2 bed 2 bath unit in the Bellora Condominium features hardwood flooring, a beautiful open kitchen and an open living area perfect for entertaining. The unit has a ton of huge windows, giving an abundance of natural light, and there is a sizable fireplace that can be seen from both the living room, and the master bedroom. The master has a luxurious 5 piece bath, and there is also a den, and one secured parking space. If you’re interested in this listing or other Seattle rentals, contact your local real estate agent today.

Status: For Rent
Bed/Bath: 2//2
Price: $3,300

Downtown Condo Rental Available: $4,500

condo rental

This sleek two story corner unit in downtown Seattle is now available for rent! Condo features soaring 18ft ceilings, wrap around floor to ceiling windows and active views, with a large private deck. Warm interiors feature elegant colors and cherry hardwood flooring. The designer kitchen with granite counters and stainless steel appliances make for an entertainer’s dream. Spacious Great Room with fireplace is perfect for entertaining (flat screen tv stays in unit!). The 2nd floor master suite has a large walk-in closet, five-piece master bath and office area/sitting room for your convenience. Tenant will also have a secure garage parking space. For more information on Seattle condo rentals, contact your local real estate agent today.

Status: For Rent
Bed/Bath: 2,2
Price: $4,500

Downtown View Rental Available: $1,700

ridge downtown rental

This lovely one bedroom unit in the Newmark Tower is now available, with expansive views of Downtown Seattle. Recently remodeled unit new to Pike Place Market, featuring floor to ceiling windows, with stainless steel  oven and dishwasher, and washer and dryer in unit. The quaint kitchen has granite counter tops and bamboo flooring, and there is a small private deck off of the living area. This unit has a large bedroom, and a sizeable closet, as well as parking and storage included in the price of rent. Building amenities include 24 hour concierge, an indoor swimming pool, sauna, entertainment room, a fitness center, and a large common roof top terrace, perfect for beautiful summer nights. For more information on this unit, or other Seattle rentals, contact your local real estate agent today.

Status: For Rent
Bed/Bath: 1&1
Price: $1,700