Green Lake Real Estate: Preparing for the market slow-down? Don’t bother.

I mean it.  Usually come November, most real estate brokers are twiddling their thumbs and decorating their own homes for the holiday season – because no one buys at the holidays, right?  Wrong.    Thanks to very little inventory, interest rates remaining incredibly low, and a large pool of ready and able buyers, there will be no holiday slow-down.  Houses that are priced well in Green Lake and most parts of north Seattle right now are selling about as quickly as it will take you to cook the turkey later this month.

As usual, when it comes to assessing Green Lake real estate, I look at residential homes from 85th to 50th, Aurora to I-5 (there are also three active condo listings in the neighborhood right now, but I’ve taken those out of the stats so as not to skew numbers).   As of today, there are 10 active listings in Green Lake.  The average price is $527,285 and the average size is 2140 square feet, for the price per foot of $276.  The average time they’ve spent on market is 46 days – sounds like a long time when I’m talking about how fast these homes sell, right?  We can contribute that number to these homes being the ones that didn’t get an offer right away – the others are already sold!

This home at 140 NE 63rd Street is currently listed for $549,500, at 2500 square feet.

In October, five homes went pending and seven more closed.  Of the closed homes, the” average” time on market was 40 days – but that number gets skewed by just two listings that were on the market for over 100 days.  In reality, five of the seven closed homes were sold in one week or less.   The average sale price was $607,086 with an average size of 2,394 square feet and a price per foot of $253.

If you’re selling, how do you become on of the “sold-in-less-than-a-week” houses instead of one that sits?  While price plays a very important role in that process, I can’t stress enough the importance of the showing condition in the wintertime.  Let’s look at the basics:

  • It’s cold outside.  So, if you’re expecting showings, crank the heat on.  You might be comfortable throwing on an extra sweater, but that chill won’t make a good impression on buyers walking in.
  • It’s dark outside.  And most of your potential buyers are going to be taking a look after work, in the evenings – so make sure your porch light is on, and keep at least one or two lamps on in the house while you’re not home.
  • The flowers aren’t blooming.  But that doesn’t mean you can’t have a nice yard – rake leaves, make sure water is draining away from the home and make a clean entry for potential buyers to get from their car into your front door.

If you’re buying, I know you’re getting frustrated.  Many buyers have submitted more than one offer in the past few months and still haven’t won the home in multiple offer situations.  Keep persevering and it will happen for you!

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