The northern end of Seattle is a mixed bag of activity. There are 2 main areas designated in the local MLS called 705 and 710. Area 705 encompasses neighborhoods such as Ballard, Greenlake, Greenwood, and more. Basically, anything west of I-5, north of the Ballard locks/ship canal, all the way up to Seattle's border at 145th Street. This is the largest market area of Seattle in terms of number of homes and land coverage.
Which means you'll get a mixed bag of activity. The Ballard and Phinney Ridge areas continue to have some of the lowest on market times for homes in the more affordable price ranges (up to about $500k), with averages around 68 days. That's about half the time when comparing that to further north areas close to the Shoreline border, such as Haller Lake and Bitter Lake. The overall area in May 2009 was up 1% in sales volume over May 2008. Prices, however, were down 14% year to date comparing year over year. Average sale price is down to $419,341 compared to 2008's $541,963.
Going east of I-5 from University area to 145th is area 710. Also a large area, including neighborhoods such as Meadowbrook, Victory Heights, Lake City, Laurelhurst, View Ridge, Ravenna and more. Results of sales in these are a bit different because you've got a dense commercial area in the U-district that isn't really covered much in MLS sales. Several commercial units are for sale right now based on emails we receive from other commercial agents touting their listings.
For residential sales the volume is close to last year, down only 5%. Average sale price has dropped from $686,204 (2008) to $503,551 (2009). Most of that likely has to do with the higher price point areas having many fewer sales and/or longer lead times overall for selling thus dragging down the average.
The good news? These are still some of the most popular neighborhoods of Seattle, particularly for many of our transplants coming from other parts of the country. Quality of life of these very walkable neighborhoods draws many to their amenities along with the ease of access to downtown Seattle. When the market starts turning around after this stabilizing period, these will be the neighborhoods that will continue to thrive.
Location Characteristics: North end neighborhoods are some of Seattle's most popular because of the ease of access to downtown. Plus, many of these neighborhoods rate well on WalkScore.com for walkability to local shops and restaurants, a continuing trend for people looking to become less car reliant and connecting more to their neighborhoods.
Other benefits of the north end areas? Proximity to University of Washington, Woodland Park Zoo, the ever popular Greenlake and many more amenities! With neighborhoods filled with a mixed bag of property types and styles there is pretty much something for everyone... as long as you can afford it. Prices tend to be higher in these north end neighborhoods than in the south end or West Seattle unless you're on waterfront.
About Reba Haas and Robin Tomazic:
Team Reba has a combined 21+ years in real estate and an additional 30+ years in corporate sales, contract negotiation, financial analysis and marketing. We have a well earned reputation as excellent communicators and top sales performers. Team Reba is a top producer in the local region and is ranked high nationally from our work with both investor and residential clients in the Puget Sound and Greater Seattle areas.
Attention to detail is particularly important in a large transaction such as the purchase or sale of real property, whether for a home or as part of an investment portfolio, and Team Reba's group expertise will help make the transaction a successful one for our clients. Team Reba members strive to help Buyers and Sellers achieve satisfaction with the outcome of the transaction and provide protections against legal and financial exposure. Team Reba's success is reflected through: 1) High rate of referrals, 2) Return clients, and 3) Excellent service ratings.
We are proud members of the National and local Association of REALTORS(R), serving on several committees; members of Commercial Broker's Association (CBA); and Associate Members of the Rental Housing Association of Puget Sound. Team members have earned the Accredited Buyer's Representative (ABR) , Accredited Home-Staging Specialist (AHS), Senior Real Estate Specialist (SRES), and Certified Residential Specialist (CRS)designations and we are also actively involved in community as well as charitable organizations. It is our belief that "we only gain by giving" which is evident by our donations of time and resources to our chosen local charities. A list of these organizations can be found on our Team Reba website.
To learn more about the members of Team Reba and to view our upcoming classes for residential and investment real estate please visit http://www.TeamReba.com.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
