By Molly Cartwright, Realtor, Cooper Jacobs Real Estate, Molly@CooperJacobs.com, 206-841-6800, on February 12th, 2010%
Green Lake Blog: Condo Market VS Townhouse Market.
I was curious what the latest and greatest were on the Green Lake condo vs. townhouse market. If you’re in the market to buy either a condo or townhome, chances are you have your eye on both types of housing structure.
Okay, so let’s look at the Green Lake CONDO conditions first:
Currently there are only 16 ACTIVE listings looking to get sold.
Ranging from $179,000 for a 1987 2 bed/2bath unit to a gleaming 2003 $639,000 unit with views. 2 bed, 2 bath, 1522 square feet of living space and just steps to the lake! These pedestrian lifestyle condos are loaded with amenities anywhere between granite and garages, creative storage, and rooftop decks. The average number of days on the market is 99.
8 condos SOLD in the last six months! Average days on the market is 31. And of these 31 days, the seller received 97.3% of their asking price. Between 31 and 60 days, seller received 99% of asking price. Bottom line: Priced right = it will sell. But the inventory is low low low for condos in Green Lake and only 8 selling in the last six months tells me people are holding them or renting them. Many of the buildings originally planned for condo living coverted to apartments so this would explain the inventory lack of inventory.
So let’s look at Green Lake Townhouse stats. Currently, a whopping 23 lovely townhouses for sale in Green Lake.
The prices range from $259,000 to $540,000. And just like the range in pricing, so are the range of homes. From brand new structures with views, eco-efficient uses, and modern twists with 2 bed 2 bath and 1256 square feet of luxury to an adorable 1000 square feet townhome with private fenced areas and priced right! All walking distance to Green Lake which supplies an endless array of sport activities, a very popular community center, restaurants, bars, cafes and local merchants.
How many sold townhouses within the last six months in Green Lake?
Answer: 55
These don’t include pending sales (which are just about to close). To including pending sales that figure bumps up to 64. Out of 55 solds, 33 were in the $300,000 to $350,000 price range.
Average Days On The Market: 45
Percent Of Original Asking Price: 99.5%
Average Square Footage: 1549
Average Sold Price: $353,091
Which gives us a grand total of roughly $227.00 per square foot on average.
It’s a healthy condo and townhouse market in Green Lake!
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