Green Lake Real Estate – May 2012 Stats

The blog has been a bit neglected this past week or so, as my mother has been in town and I’ve been too busy taking her places rather than writing about them (we’ve been to Naked City Taphouse in Greenwood three times already because she loved the truffle fries so much).  But I can’t forget to give you my monthly real estate update, so here goes: a look back at May real estate in Green Lake.

Twelve single family homes, and two condominiums, closed in Green Lake in the month of May (as always, 80th to 50th, Aurora to I-5).  The sale prices of these homes ranged from $355,000 to $879,000, with an average price per foot of $299.65.

This 4-bedroom home on E Green Lake Way North sold in just 11 days for $710,000.

Now here’s the real kicker, folks – the average days  on market, which is a great unit of measure for figuring out how much inventory we have – was nine.  That means that of the 12 residential homes sold last month, the average time it took a home to sell was just over a week.  In fact, only one of those homes sat on the market for longer than 10 days, which skews our numbers a lot.

In addition to those closed homes, there are another 12 single family homes that went pending in the neighborhood last month, as well as 16 that are currently active.  Of the active listings, the average size is 2,249 square feet, and the average price is $551,384. This gorgeous tudor, listed by Redfin, has been on the market just three days on the Green Lake/Wallingford border at $574,950 for 2,930 square feet:

Inventory is remaining steady at basically less than a month’s supply of homes.  Bidding wars are continuing in Green lake, as well as the now common process of doing a pre-inspection and waiving contingencies that are meant to protect buyers.  It is definitely no longer a question of what the buyer can bargain for, and instead is now what the buyer is willing to sacrifice.

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