Ballard, Seattle Real Estate Update

Whether you are looking at buying or listing homes for sale in Ballard, Seattle, you will want to align yourself with a Ballard, Seattle realtor. There are a lot of details both buyers and sellers will want to find out about the local market that will help guide both parties. Knowing the market value, sold prices, demand and days on market provide valuable insight. The best way to get this information is from a Ballard, Seattle realtor. We have real time access to local data that isn’t readily available otherwise. So how is this neighborhood looking? Let’s check out the numbers.

The good news for sellers it that the sold prices for homes for sale in Ballard, Seattle are up compared to this time last year. The average is up 12.2% from this time last year AND last month at $793,885. The median sold price is up 9.7% from last year at $784,000. The average percentage of list price is down 0.2% from last year at 104.8%. Your realtor in Ballard, Seattle will further explain how you can use this number to your benefit, but it basically tells you your negotiation power and that Ballard, Seattle homes for sale are getting over asking on average.

As far as inventory in this neighborhood is concerned, the amount of Ballard, Seattle homes for sale is up 55.6% while the amount of new listings is down 3.7%. Closed sales are down 22.5% and pending sales are down 23.1%. The month supply is up 100% from this time last year at 0.8. This is also up from last month. This number tells us who has control of the Ballard, Seattle real estate market. Anything less than a 4 month supply is a seller’s market while anything over a 6 month supply is considered balanced. Both the average and median days on market are down. The median days on market for Ballard, Seattle homes for sale is 7 while the average is 12. If you are looking for a Ballard, Seattle Realtor or Ballard, Seattle homes for sale, feel free to give us a call. Our team would be happy to help!