Thank goodness summer is finally upon us – I’m on vitamin D overload this week and just can’t get enough of being outdoors. Traditionally though, summer also means a bit of a slow down for the real estate market as home buyers and sellers go on vacations and spend more time at the barbecue than the computer (Hey -does that mean us real estate brokers can go on vacation, too?).
According to NWMLS data, Green Lake saw the closing of 14 single family homes in June this year, ranging in price from $340,000 to $1,120,000 and with an average price per foot of $287.17. And 14 must be our lucky number, because that’s also the amount of homes that went to ‘pending’ status in June that haven’t closed yet. Overall June was a very good month for total number of sales, but it would appear to me that we are seeing a slow down of the multiple bid situation that has had us in a frenzy the past few months. Whereas in May the average home sat on the market for just nine days before selling, in June that number shot back up to a more “normal” 24 – giving buyers a better chance of getting their offer in on time and in a less competitive environment.
We currently have 12 homes on the market in Green Lake (as usual, 80th to 50th, Aurora to I5), priced from $299,000 to $1,220,000. Quite an assortment – but still not a lot of inventory. In fact, of the homes that are on the market right now, only 3 were listed in the last 30 days so the homes that are on the market are generally a lot of the same ones that were listed a month ago or longer. We’re thirsty for freshly listed houses.
So, where are we headed? Back to normalcy, I expect – at least for the next few months. Another kick in the market tends to happen in September and October, but until then we’re going to see homes start to sit on the market for around 30 days before a sale.