We just got an interesting look at a huge spreadsheet of data from the folks over at Redfin, detailing the state of the regional real estate market. Here’s a few numbers to chew on:
| Median List | Median Sale | Median Sale Change from Last Mo |
Median Sale Change from Last Yr |
Median Sale $ / Sq Ft |
|
|---|---|---|---|---|---|
| Seattle | $460,000 | $429,000 | +4.3% | +3.9% | $289 |
| Wallingford | $587,655 | $600,000 | +15.4% | +11.1% | $379 |
| Green Lake | $575,000 | $426,000 | -1.8% | 1.4% | $350 |
| Columbia City | $309,000 | $338,000 | -4.6% | -8.2% | $237 |
| Ballard | $464,950 | $417,500 | +3.0% | -6.9% | $291 |
| Capitol Hill | $999,999 | $787,500 | -26.6% | 12.9% | $369 |
- There is an apparently mistaken belief that Green Lake real estate is worth more than Wallingford real estate (to the point where realtors will often list properties as far south as 50th as “Green Lake”). That seems to not be the case lately, at least. Compared to Wallingford, Green Lake is cheap (but lovely) place to live.
- Despite the higher overall sale prices on Capitol Hill ($785K v $600K), Wallingford is still a more expensive place to buy, sq ft for sq ft. Houses are just bigger on the Hill.
- In fact, Wallingford is one of the most expensive neighborhoods to buy in the city, with only a small handful of rivals (e.g., Madison Park at $433 / sq ft, Laurelhurst at $450 / sq ft).
Now that’s not to say there aren’t a few well-priced gems out there.
We pedaled by an open house this past weekend that our friend Derek was holding at 107 NE 54th St, just across from the McDonald School and couldn’t believe it was still on the market. The numbers above confirmed what we thought: it’s a bargain at $499K (or $259 / sq ft, virtually Columbia City prices).
Beautifully remodeled by the architect-owner, quiet street, south facing yard, we’ve got to bet it won’t be available much longer. (Yes, he’s a friend, no, he didn’t pay us to say any of this, here’s a link to the listing if you’re interested, and he’s holding an open house Sat / Sun, 1 – 4 pm this weekend.)
Or, if you’re looking for pure rock-bottom, according to RedFin, the cheapest house on the market in Wallingford right now is 5219 Wallingford Ave, at $379,000 and $225 / sq ft.
Yep, we’ve got a great thing going here in Wallingford. I actually looked at the house on 54th. It was adorable and in excellent condition, but TINY. Felt more like a 1-bedroom (with a VERY nice office) than anything. Hard to see living there with kids.
Saw the 54th house as well. There are actually two homes on this street for sale. Nice it’s across McDonald School. But both homes have relatively small footprints. Typical bungalow with dining room in center and two bedrooms off the main with an unfinished basement. Bargain to get into the neighborhood though. Not sure about this but I always considered 50th the cut off between Wally and Green Lake. So this 54th house is technically Green Lake. Someone please tell me if I’m wrong on this.
Wallyhood has alot to thank for John Stanford International. I believe once McDonald School is resurrected it will add much value in the South Green Lake homes too.
Thanks for reading!
As a LOOONNG time Wallingford resident, most of us in the NE ‘hood (Latona both N and S of 45th) consider Wallyhood to extend up beyond McDonald School. All our ‘hood kids living N of 47th will be attending McD. now instead of Stanford (the OLD Latona School!) The “listing” calls the area Ballard/Greenlake….WAY wrong !! It’d be smart to change the neighborhood description!
The RE figures for the neighborhoods confirm what I know instinctively, that Wallyhood homes have remained higher value. The few homes that have been on the market in our vicinitywere in great condition, “high-end” listings and have generally sold VERY quickly, which tends to indicate the listing $ was on the mark!
Wow! I didn’t know it was still considered Wallingford across 50th Street. Thanks for clarifying this for me. McDonald school is on the block of 54 and 55th. And Green Lake Elementary is just 10 blocks north on 65th. Thanks!
Okay, I need to add that what ‘hood one chooses to declare that he/she lives in is quite subjective, of course! A friend of mine who once lived three blocks W of 15th NW and one block S of 85th chose to claim she lived in BALLARD…that really is CROWN HILL!!!
Our LONG “block” Latona neighborhood email/phone tree includes people living N of 50th…they consider themselves Wallyhooders, as do we!
In the past there have been numerous posts on this Wallyhood blog from residents N of 50th living in the vicinity of the 50th St Market about problems with panhandlers.
Stanford School is 10 blocks S of McD. School (there is no 46th St.) so MacD is an in-between area for sure! Those kids and families who are making the change think of it as Wallyhood, I’m sure!
We’re happy to have any and all residents to the N of 50th include themselves in our ‘hood or be Grennlake ‘hooders if that makes them happy. It’s tough being on the cusp and not know where you are, I imagine!
P.J.,
I know what you mean about zig zag borders! I wrote a blog on our http://www.greenlakeloop.com site that talks briefly about Green Lake and ALL the neighbors to the north, south, east and west. Green Lake listings but really Greenwood. It’s hard to know. Lucky for Seattelites, there is a cool community in everyone’s backyard these days. I think with these new school boundries, it has put everyone in a box. I personally live in on 53rd and Latona and have never really known if I’m Wally or G.L.. Zip codes are vague too. I know someone who lives in G.L with 98115 but many friends who live in NE cluster (Wedgwood, View Ridge) have 98115 too. The panhandlers on 45th and 50th Street Exits are getting a bit out of control. My daughter who is 7 is now admiring their tidy handwriting on their cardboard signs. Sigh.
Being on 51st – I simply tell people that we’re on the border of Green Lake and Wallingford. Figure I might as well get the benefits of both neighborhoods since no one seems to know which hood I’m really in. 🙂
(though for true old timers – I just tell them I live near the old Honey Bear Bakery (Tangletown area) and they know right where I’m located)
Yes! I like that – get the benies of two very cool and desirable neighborhoods. We all miss Honey Bear. Mighty O is pretty darn stellar though!
Great comments! Yes, know the old HBB/Tangletown area for sure!
Anyone remember the old Swiss Bakery that was very close to GL Drive, near where Latona does the jog at The Latona Pub? It was near Spud Fish and Chips but a block or so behind. Everything is apts/condos over ther by the old Albertson’s site now. I used to be involved with a little sandwich shop between the old Greenlake Grill and Anderson’s Nautilus. The 1st Bite of Seattle was held at GL, but it grew so fast and sooo many attendees that it was moved to Seattle Center. Was so GREAT that 1st time!
For what it’s worth, if you visit Redfin.com and type “Wallingford” into the search box, the border IT draws goes just north of 60th (which includes Tangletown). Zillow does the same, but I think one of them got their data from the other.
It reminds me of my friend Chris from Microsoft. He was in charge of putting the map into the control panel where you set your time zone. It was late, there was a deadline, so he grabbed a map from some handy source, checked it in and went about his business. Turns out he ended up he gave the disputed Kashmir area to India instead of Pakistan (or vice versa, I forget) and Microsoft ended up having to recall a huge number of copies from that country, where that version was declared illegal.
I thought the RedFin.com Wallingford outline looked familiar. It appears to be the same as the Seattle City Clerk’s neighborhood map for Wallingford: (http://clerk.ci.seattle.wa.us/~public/nmaps/html/NN-0006S.htm)
Although the site claims these aren’t Official ™ borders (not quite sure what that means); they are nice for newcomers like me.
Wallyhood: Any idea what the sample size is? It seems it would make a big difference if 3 homes or 30 homes or 300 homes sold last month.
@Doug, good question. Number of houses sold in the month in question in Wallingford was 14, which is pretty small, so yeah, small sample size, high variance.