Uncategorized January 30, 2018

Ballard, Seattle Real Estate Update

If you have done your research on the various Seattle neighborhoods, you likely already know about Ballard. Great schools, unique city amenities, some of the hottest bars and restaurants and close proximity to downtown make this one of Seattle’s most sought after neighborhoods. If you are buying homes for sale in Ballard, Seattle, you really don’t have time to “think about it” when it comes to making an offer. Same goes for sellers. This popular area is considered very desirable for buyers and Ballard, Seattle homes for sale are moving quickly. 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. Which is not shocking but still great news for sellers. The median sold price for Ballard, Seattle homes for sale has increased 25.6% at $738,800 and the average has increased 24.1% at $737,147. The average price per square foot is at $517. The percentage of list price has gone up 2.3% at 105.9%. This particular number indicates your negotiation power. This also shows that homes for sale in Ballard, Seattle are going, on average, over asking price.

Inventory wise, the numbers have continued to go down. The amount of Ballard, Seattle homes for sale has gone down by 26.9%. The amount of new listings are down 6.3% & pendings are down 5.5%. We can blame this on the low month supply. Ballard, Seattle real estate has a .40 month supply. 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.