Green Lake Blog: Let’s go ahead and look at the current Seattle Green Lake (Greenlake) real estate market for June 2010:
Well, even though we all woke up to a lovely gray day, Green Lake real estate is moving and that is what I want to touch on for this beautiful non summer June day. As expected Green Lake MLS listings are up due to the fact that this is prime Seattle real estate selling season. There are 67 Active residential listings in the Seattle MLS for Green Lake right now excluding town homes (Green Lake Town houses are dealt with separately for my purposes although some agents sneak them in as “multi levels” instead of townhomes as they should be for residential property type.).
Side Bar: Green Lake Neighborhood: Where is it and what are the borders? Now because as we have said before Green Lake has subjective borders depending on who you talk to, the Seattle MLS community Green Lake is what I am using to get the numbers. Until someone comes up with some concrete non shared Seattle neighborhood borders and until agents who have listings that are clearly in Licton Springs or Greenwood stop marking them as Green Lake, I have to include them all in the numbers. I know that the general feeling is that if you can walk to Green Lake (the actual Green Lake park with the loop in it), you are in Green Lake – I also think that is a subjective approach, but I agree with it.J
OK – Back to Green Lake Active MLS listings (but feel free to let us know where you think the Green Lake borders are). The Green Lake listings of homes for sale in this neighborhood range in price from $337,157 to $1,300,000 with a median list price of $499,950 which is about what I expected. The average 
square footage of these is 1950 square feet and the average dollar per square foot is $252.95.
Pending Green Lake properties: There are a variety of Pending statuses – Green Lake homes that are Pending Inspection are subject to inspection. Pending- Back Up Requested is when the agent or seller have a contract but are looking for back up offers.
Another Side Bar: To me,
Pending BU Requested is the most ridiculous status and highly abused. Of course as listing agents we are ALWAYS looking for a back up offer so you should only really use this status if you think things are going to go down the drain with your current buyers. Instead there are many Seattle real estate agents who use this status a common practice most likely just to try to attract unrepresented buyers. If your listing agent is using this tactic you should ask them why. What is common when this status is used is that your current buyer who you have a contract with to buy your home will see the status in the public real estate sites and get mad. They will get upset that you do not trust them to close the deal or do not have confidence in them and as a result start to get second thoughts on following through with the purchase. It is a backfire trap and really does not help you unless your current buyer is that shaky on financing or commitment.
Back to the homes that have offers on them – There are currently 19 Pending homes waiting to close, 3 Pending BU Requested homes, and 13 Pending Inspection homes for a total of 35 Pending Green Lake homes under contract. They range in price from $249,000 to $1,250,000.
Green Lake Real Estate Sold Update June 2010: In the last 30 days, 13 Green Lake homes for sale have closed in escrow according to data I compiled from the NWMLS. These homes ranged in price from $330,500 to $963,000 with a median of $428,888 and average days on market of 38 days. The average dollar per square foot of these sold Green Lake homes was $233.24. Median list price on these was $509,648 and median sales price was $508,065.
Overall Green Lake real estate numbers? 115 Green Lake residential properties, $243.29/per square foot average, median price of $523,114. Let us know if you are curious about what your home is worth – realestate@cooperjacobs.com
(You can usually find Molly running around the lake if she doesn’t answer her phone right away and Courtney walks the lake at least twice a week).
