Green Lake & North Seattle Real Estate Roundup – the Stats February 2012

Has another month gone by already?  Even with an extra day, February was a blur of working seven days a week with tons of first time buyers taking advantage of low interest rates and what many assume to be bottomed-out prices (I have fingers crossed that they’re right).  So alas, it is time once again to look back at the last month of Green Lake and North Seattle real estate and see where we stand.

Green Lake faired a little slowly in February, with six single family homes closing and one condominium.  Completely by coincidence, three of the six closings were homes all within just a few blocks of each other on Wallingford Ave N.  Of the closed homes, the average price was $544,392 and the average size was 2,410 square feet, giving us about $226/ft.

Currently within the Green Lake boundaries (as always, 80th to 50th, Aurora to I-5, compiled by NWMLS data), there are 9 active single family listings ranging in price from $375,000 to $1,189,000.  Amazingly, there are another 13 pending (plus three pending short sales), which indicates that March is going to be an extremely strong month for closings.  Of the nine active listings, four were added in February and the remainder stayed on from previous months.  With only nine active houses and 13 pending, we’re seeing that we don’t actually have enough inventory in the area.  This will help keep pricing solid and continue the trend we’ve been seeing of multiple offers and quick sales.

In all of north Seattle, we saw 118 sold houses plus another 31 condos during the month of February.   There are currently 300 active listings in north Seattle that are houses, with 125 of those being added during February – plus 165 active condominiums, with 61 of those added in February.  This is reflecting a fairly strong absorption rate of about 2.5 months supply of housing. 

So, what can you get in north Seattle for your money these days?  Here’s a look at a couple recent listings that are awaiting buyers in the neighborhood.

In Fremont, $439,500 will get you this three bedroom, 2.5 bath townhome on Albion Place N.  It’s 1,868 square feet and fairly new (built in 2007), and features a balcony with a view of Lake Union and Mt Rainier.

Head a little further north to Maple Leaf, and you’ll find this 1,970 square foot house with three bedrooms price at $469,950.

And in Wallingford, this larger four-bedroom home with 2.5 baths is priced at $599,000.  It has 10′ ceilings and a view patio off the master bedroom.

One response to “Green Lake & North Seattle Real Estate Roundup – the Stats February 2012

  1. Greenlake renter with a family

    Wow…so if you have tons of money, Greenlake is the place for you! Sad that there isn’t more affordable housing for young families starting out.

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