Green Lake & North Seattle Real Estate Stats – September 2011

I’m going to make this short and sweet – we did ok in September.  Not great, not horrible.  We did ok. 

Last month in Green Lake (from 50th to 85th, Aurora to I-5), we closed 10 single family homes.  The average sale price was $516,601 and the average price per square foot was $250.42.  The great news is that the average time spent on the market was only 20 days – not even a full month before these houses sold!

If you read my August post, you might see an improvement in some aspects of the market – for one, in August the average days on market 34 – two full weeks more than in September.  So, are homes selling more quickly?

Not necessarily.  There are currently 37 active listings on the market in Green Lake right now (houses only, not condos).  Of those 37, 8 have been on the market over 100 days (bad news), and the average time on the market overall is 81 days – which tells us that homes aren’t really selling faster, but homes that are priced right and in good shape are selling. 

Another thing to note? Of the homes that sold last month, only 3 were under $500,000 – this is showing what’s popular in the market right now.  the other 7 closed homes were all between $520,000 and $679,950.  Of the 37 homes currently listed for sale, 22 are under $500,000 – that’s more than half.  So it would seem that homes on the lower end are struggling a little more right now than homes on the higher end. 

The other improvement over August is price related too – in September the average price per foot was $250.42.  In August, it was only $214.  This might be signaling to us that home prices are on the rise a little – which wouldn’t surprise me, as I have seen several Green Lake listings go into bidding wars lately.  In fact, 2 of the 10 closed homes last month sold for higher than their listed price.

So, how is north Seattle doing overall?  In the entire MLS north Seattle area, there were 192 single family homes closed last month, and another 102 pending.  The average sales price was $457,247 and the average price per foot was $216. 

This is usually the time of year I see things really slow down, and in a few weeks hit a pretty grinding halt.  But there’s something odd about this season (besides the weather) – it appears to be fighting back a little before it goes into hibernation.  We’re looking to head to a strong October sales month before things die down!


*Data from NWMLS

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