Seattle’s Green Lake Real Estate Market In 2015
“So what do you think, Molly? How much will this one go for?” It’s a question I get asked a lot.
Much of the real estate bidding wars here in Seattle originate from the supply and demand struggle. Whether it’s a craftsman charmer or new construction built this year, the number of units (or Seattle homes) available is not keeping up with the number of buyers (both natives and newbies to Seattle) moving to our beautiful city.
Green Lake Real Estate 2015 Market By Numbers – I thought I would share with you the data I pour over to better educate my clients, starting with Seattle’s Green Lake Real Estate Market so far this year. Active, sold, and pending are on the chart below – these come from Trendgraphix which pulls data from all sources – not just the NWMLS for listings. This date is compiled from January 2015 thru July 2015 for all of King County, but is a good indicator of just how the Seattle real estate market and Green Lake specifically are going.
Home For Sale (Active) in July 2015: 3591 units.
||Up 1.2% compared to the last month
||Down 27.7% compared to the last year
Home Closed in July 2015: 2747 units.
||Down 7.2% compared to the last month
||Up 5.7% compared to the last year
Home Placed under Contract (Pending to Close) in July 2015: 2896 units.
||Up 0.1% compared to the last month
||Up 24.3% compared to the last year
Seattle will end strong in 2015. But will there be a shift in 2016? Yes. And here’s why:
- The Election Year. Undoubtedly this requires change of some type and change is unpredictable.
- Interest rates. Again, unpredictable. It’s not a bad idea to keep your pulse on China and the stock market.
- With appreciation up in the double digits, it can only rest there for so long. We are going on two years now of double digit appreciation. I see the market softening in 2016.
For Green Lake buyers and sellers, you should know the median price in Green Lake rests at $580,000. The most modest property sold for $177,000 while the highest sold was $1,685,000. This is nearly $360.00 per square foot. You can see the 26 homes that have sold in the last 30 days: Seattle Real Estate Green Lake Market 30 Days. (LP= List Price SP= Sold Price)
For Green Lake buyers and sellers, here are the active properties: Green Lake Homes For Sale. And I’m happy to answer any questions about these properties.
As a 17 year resident of Green Lake, I’ve seen a huge surge of new home owners in the neighborhood and explosive new construction. The transformation is starting to resemble a mini Belltown in east Green Lake. Build it and they will come!
206-841-6800 or email@example.com
Green Lake Real Estate Market In 2015: It is difficult to believe that we are already almost halfway through January of 2015!
I am still telling people happy new year, but figured it is time to catch you up on the residential Green Lake real estate market going into 2015. New Year. Same Problem for buyers and same opportunity for sellers: The inventory problem still haunts Green Lake buyers. There isn’t much. Currently there are exactly 8 Green Lake homes for sale on the market in the NWMLS. These range in price form $460,000 to $1,295,000. If you have a Green Lake home to sell, then right now you have a great environment to get the most return. There is a perfect freak storm of no inventory, a buyer boom – even more so than usual, and contingent historic low interest rates. If you own a tear down Green Lake property, then add on the extra opportunity that every builder in town is eagerly looking for a new infill project to build more Seattle new construction homes.
There are 16 Green Lake homes for sale that are currently pending in the NWMLS. These range in price from $279,900 to $1,375,000. In the last month alone – even with the two weeks of the holidays, there have been 12 Green Lake homes sold and closed in escrow through the NWMLS. The list price on these ranges form $359,950 to $1,278,000 and the sold price ranges form $360,000 to $1,380,000. Seven of the 12 Green Lake homes that sold received over asking price. The highest one was 107.98% of list price. The average sale price to list price percentage of these 12 is 101.84%. The average days on market for these was 24 days with 6 of the 12 homes being sold in one week or less and 8 of the 12 homes being sold in the first two weeks.
So, yes, it’s a great time to sell your Green Lake home. You can see some of the details of the above stats here:
Green Lake Homes For Sale and Sold January 2015
Green Lake Real Estate Market January 2015
If you’re interested in more information on Green Lake properties or other Seattle neighborhood real estate, please drop us a line at GreenLake@CooperJacobs.com or Call 206-841-6800 Now .
– Photos are courtesy of Molly Cartwright, One of our Green Lake Realtors
Green Lake Condominiums: 911 N 73rd St is for sale!
If you have been looking around for a well maintained and affordable Green Lake condo, then this is a great opportunity! With Green Lake Condos, it’s all about location with regard to proximity to the lake itself as well as overall walkability. This is the case with Green lake real estate in general as well. Having a view is a plus. This particular unit is a South facing condominium and there are Seattle views of Mt. Rainier and Green Lake.
Here are the marketing remarks from this Green Lake condo listing:
Solid well managed building in a very convenient Green Lake location with an easy walk to shops, restaurants, bars and PCC grocery store. Walk the lake with friends! Views of Mt. Rainier and Green Lake in this south facing unit with large balcony. Rapid Ride Busline just blocks away for quick trip downtown. Laundry on site, as well as bike storage and storage locker. Large closet in hall and bedroom. Plenty of room to expand the kitchen and add a dishwasher, more counter space and eating area.
Taxes are low at $1668/year and monthly dues are $295. Price? $199,950
Call Kirk Griswold, Green Lake Realtor, for more info: 206-226-8919
Are more Green Lake homes set to be “Million Dollar Listings” in Seattle?
Green Lake Views
If you’re anything like me, Wednesday nights are dedicated to further extend my Million Dollar Listing addiction. Having just attended the Luxury Connect Real Estate forum in Beverly Hills, it got me thinking in general about the Seattle luxury real estate market and more precisely luxury estates in my own neighborhood: Green Lake.
Okay let’s just be clear, brokers are not selling $50+ million dollar properties in Green Lake or the surrounding neighborhoods such as Broadview, Sunset Hill, Phinney Ridge, and Wallingford. But we are consistently selling $1M and up properties. In fact so far this year 61 properties reaching $1M up to $3.8M have sold in these zip codes.
Of those sixty one sold homes, 22 were located in the heart of Green Lake and of those 22 Green Lake homes, eleven were Seattle new construction homes. Speaking of newer construction and top dollar properties, Tangletown in Green Lake drew in the highest sold home at $1.46M. A gorgeous 5 bedroom, 3 bathroom, 4600 square foot home sitting pretty on Kirkwood Place.
SO are more Green Lake homes set to be million dollar listings?
With the median Green Lake home priced around $455,000, you don’t need to sell the bank to afford living in Green Lake. However if you are interested in a turn key, brilliantly renovated or new construction home with some elbow room, then look no further to Green Lake for your next home.
If you’re interested in more Seattle luxury real estate properties, please drop me a line at Molly@CooperJacobs.com or Click here to call 206-841-6800 Now .
Classic Green Lake home. Sold by Molly Cartwright in 2012
Green Lake Activity for August 2014
How’s the real estate market in one of the most popular neighborhoods in Seattle?
Centrally located Green Lake has been a long time favorite area for many buyers and sellers. Buyers get a classic craftsman style home with original character and charm from the early 1900’s and sellers have been busy for the past 30 days.
With 31 Green Lake homes selling in the month of August, the median Green Lake home value hovers around $592,500 or roughly $333.00 per square foot.
A look from last August 2013, there were 13 less Green Lake properties sold this August but the median price increased by 8.14%.
Here’s a snap shot of what has sold for the month of August 2014:
Need a Green Lake Realtor?
I’ve been specializing in Green Lake and the surrounding Seattle neighborhoods (Wallingford, Phinney Ridge, Ravenna, Greenwood, and Fremont) since 2001. Are you curious what your Seattle home is worth in today’s market?
Give me a call and let’s find out. Are you a buyer who craves the quality of life these neighborhoods can offer? I look forward to talking to you too.
Your local Green Lake Realtor,
Molly Cartwright | 5 Star Broker 2013
Green Lake Sold Homes
Green Lake in Seattle, Washington is one of the most popular neighborhoods to live. I’ve been a Green Lake resident for over a decade. It’s central location means you’re a very short commute to companies like Amazon, Google, and even Microsoft which offers a neighborhood shuttle to the East side campus. I like Green Lake for the, um, lake. It’s just shy of a 3 mile radius around the lake. Perfect for running, walking, skateboarding, rollerblading, biking and so much more. If you’re a water baby, grab a paddle board, canoe, kayak, or watch the UW crew team practice in the lake. No motorized crafts permitted. An abundant amount of grass park like settings surround the lake and if you’re on the northwest side of the lake near the Woodland Park Zoo, grab a game of lawn bowling! Yeah, you heard me right. Then take the bridge overpass to the zoo and go check out those adorable penguins at the Woodland Park Zoo.
Back to real estate.
At the Beach!
If you’re thinking of buying or selling in any real estate market, it can absolutely change on a monthly basis. For this reason, let’s take a look at the last 30 day sold residential homes and size up the values in Green Lake if you think this is the place for you.
25 sold homes in 30 days in Green Lake. The lowest sold priced home was $345,000 for a typical three bedroom 2.25 bathroom townhome in the outskirts of the Green Lake neighborhood. The highest sold priced home was $1.125M for a beautiful new construction home still a few blocks from the lake.
If you’re a first time home buyer in Green Lake, I won’t lie; it’s competitive. What you’ll need to know before even looking at homes in Green Lake is the average price per square foot. Currently it’s $295.42. What does that mean? A three bedroom, 1.75 bathroom, 2,000 square foot home in Green Lake will cost you $519,000 minimum. Disclosure: this could mean some deferred maintenance…aka: a fixer upper. These all sold quick too…to the tune of 15 days on the market: from start to finish.
A great craftsman home in Green Lake
Just a quick prospective: I bought my first modest 2 bed/1 bath/ 1200 square foot home in Green Lake home in 1999 for $250,000 one block up from the lake by the kiddie pool. Wow.
What’s out there to buy right now? Glad you asked. Not a lot. I just saw a beautiful $1.250M listing on 64th in Green Lake that went like hotcakes. Others I’ve toured through went lightening fast too. So right now, there’s 24 rather tired listings. They range from a townhome that’s been on the market for over 100 days for $289,900 to a $495,000 4 bed/1.75 bath/2,000 sq ft home on the northwest side of Green Lake (aka Greenwood neighborhood at this point) that’s been on for 14 days.
We need more homes. If you’re interested in selling your home, please free feel to call us for a free consultation and a review of the real estate market.
Cooper Jacobs Real Estate located in the heart of Wallingford
3645 Wallingford Ave N
Seattle, WA 98103
Our Wallingford Office…Green Lake’s south neighbor.
Molly Cartwright, Seattle Real Estate Broker
firstname.lastname@example.org, Green Lake’s lifetime Realtor
A little kept secret by the locals, Meadowbrook is one of those neighborhoods you can’t help but fall in love with. You won’t find any cookie cutter homes here. Enjoy private lots with mid century, ramblers, or craftsman homes, a bird sanctuary with lush trees and creeks, and walkable to shops and grocery stores. The Fiddler’s Inn, Javasti Coffee, The Strutting Owl, and of course the Wedgwood Ale House are just a few of the locals’ favorites.
The affordability is out of the park too. Average square footage is 2000 square feet compared to Green Lake’s average 1480 square feet.
You’ll see homes typically priced in the $330,000 to $530,000 mostly for a 3 to 5 bedroom home. Great schools close by such as Wedgwood Elementary, Nathan Hale High School, and now Jane Adams middle school, home to the new APP program. Right across from the Meadowbrook Community Center is the most beautiful Meadowbrook Pond complete with eight different types of fish, eleven types of mammals, a plethora of birds like bald eagles and blue herons, amphibians, and invertebrates. It’s like a little bit of country but still within the city.
Meadowbrook is one of the great northeast neighborhood and just 3 miles from Green Lake, blocks from Wedgwood and down the hill is Matthews Beach! You’re still within minutes to the Burke Gilman Trail and Matthews Beach.
If you’d like more information about Meadowbrook, Wedgwood, View Ridge, Matthews Beach and other Northeast neighborhoods, drop me an email at email@example.com
Green Lake Real Estate: A look at 2014
In Seattle, Green Lake seems to be the hub in so many ways. Enjoy an easy commute by car, bus, bike, or foot in any direction. Of course there is the 3.5 mile radius lake: a plethora of activity. From divers jumping off the high dive in the summer to husky dogs pulling a skateboarder around the paved portion of the lake.
It’s an awesome place to live, for sure. Over the last 5+ years, I’ve noticed many homes getting tasteful facelifts from the 1920’s original craftsman build. And some are just simply getting demolished and a new construction home waiting in the wings. I refer to these sleek 10′ ceiling homes as “boxes”. But that’s a whole other blog post for a different time.
Let’s look back at the first 41 days of 2014 in the Green Lake area.
A grand total of 20 single family homes have had activity: 17 are active, 1 pending, and two sold. Of the active properties, all are new of this year with the exception of four. This tells me the inventory is still extremely tight with less than two months of inventory indicating a seller’s market…still. The median price is hovering around the $410k to $417k mark. The highest home on the market right now is listed for $1.250,000 and indeed it’s one of the new construction “box” homes. The lowest priced home is listed at $295,000.
Sellers are still initiating a review period of about 6 days before accepting an offer. Most sellers have 6, 7, …30 offers to choose from. And I’m not kidding about the 30 offers on one Queen Anne home.
So what does this all mean if you’re a buyer? Cash is still king. Start $50k under your maximum target price. Waive as many contingencies as you can. And get with a Realtor who is up to speed on the market and looking at properties full time because with only six days to locate, look, inspect, and write a solid offer – it’s easy to overlook a great home and a great opportunity especially when there is more than one buyer and one property listed.
If you’re interested in knowing more about Seattle Real Estate in the most popular neighborhoods, give us a call or shoot us an email. We’re here to give you the tools you need to prepare for this Seattle market. We have many folks eager to share their experience with us – just ask us for our referrals.
More properties can be viewed at Cooper Jacobs Real Estate.
It’s been a good year for real estate. Sellers are happy to receive higher than list price for their homes. Buyers are happy to, well, have found a home with multiple offers. Real estate professionals are happy to see the upswing in median home values to the tune of 7.5% from last year at this time. If you remember, July 2007 was our peak with a median price of a single family home was $481,000. Wowsers. The low was back in February 2012 at $308,000. Now we’re resting nicely at $455,000. Home values have steadily increased since the 2012 but not so fast that we see double digits.
North King County, including Green Lake, saw the highest percentage of closed home sales with 40% growth from November 2012. This would make sense with the low (two months) of inventory we’ve consistently seen through this year. Six months or more of inventory is considered a buyer’s market. Anything less is a seller’s market.
Condos really did great this year of 2013. The median price for condos in King County jumped 17% from a year ago.
Green Lake has 18 active single family listings right now – with 7 being townhomes. I’ve seen it fluctuate between 33 and 18 active listings this year and the homes have been selling quickly with offers being reviewed in 7 days or less. Yes, it was a great time to sell and likewise buy since the sale of your home usually brought in $10k to $80k more than list price.
This is a perfect example of why, if you’re a home owner or own a rental, you should keep up on any deferred maintenance. By keeping up on the general maintenance, it could save you weeks of market preparation AND the difference of thousands of dollars – particularly during a buyers frenzy. Always be ready to sell! So are you?