Ballard, Seattle Real Estate Udate

If you have done your research on the various Seattle neighborhoods, you probably already know about Ballard. Known for great schools, some of the hottest bars and restaurants and being minutes to downtown make this one of Seattle’s most desirable neighborhoods. If you are thinking about buying homes for sale in Ballard, Seattle, know you have your work cut out for you. The inventory is very low and the demand is incredibly high. Same goes for sellers. If you are listing and think you have time, chances are your home will receive an offer quickly. So prepare ahead of time by packing, de-cluttering and getting your next home lined up. Regardless of what side of the transaction you are on, knowing the stats for this area is crucial as they can guide both sides towards a successful experience. The best way to get this information is from a Ballard, Seattle realtor. Working with someone who knows this local market is so necessary. So how is this area looking? Let’s check out the numbers!

The average and median sold prices for homes for sale in Ballard, Seattle have both increased compared to this time last year. The median sold price for Ballard, Seattle homes for sale has increased 14.5% at $744,150 and the average has increased 15.7% at $751,971. Interestingly, while the average is up compared to both this time last year AND last month, the median is down compared to last month. The average price per square foot is up 15.4% currently at $539. The percentage of list price has gone up 1.9% at 106%. This not only indicates your negotiation power, but it also shows that homes for sale in Ballard, Seattle are going, on average, over asking price.

As far as inventory goes, numbers have continued to go down. The amount of Ballard, Seattle homes for sale has gone down by 21.7%. New listings are down 6.9%, pendings are down 6.7% and closed sales are down 11.8%. Ballard, Seattle real estate has a .40 month supply so we know what the culprit is. With a balanced market requiring 6 months and anything less than 4 being considered a seller’s market, we clearly know what kind of market we are in. If you are looking in this neighborhood, give us a call. As experienced Ballard, Seattle realtors, we would be more than happy to act as your advocate as you buy or sell in this area.

Posted on April 23, 2018 at 8:42 pm
Scott, Molly & Sarah Shutes | Category: Uncategorized

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