• Green Lake Real Estate Market Update 2015

    Seattle’s Green Lake Real Estate Market In 2015

    Green Lake Neighborhood in Seattle WASo 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:

    1.  The Election Year.  Undoubtedly this requires change of some type and change is unpredictable.
    2. Interest rates.  Again, unpredictable.  It’s not a bad idea to keep your pulse on China and the stock market.
    3. 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!

    Molly Cartwright
    Seattle Broker
    206-841-6800 or molly@cooperjacobs.com

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