If you have been thinking of listing or buying homes for sale in Ballard, Seattle, you will want to make sure you have an accurate understanding of what the Ballard, Seattle real estate market looks like. When you know details like the month supply, days on market and the average and median sold prices of homes for sale in Ballard, Seattle, you can feel confident you are going to have a successful real estate experience. The best resource for finding out what is happening with homes for sale in Ballard, Seattle is through a Ballard, Seattle Realtor. We have up to date resources straight from the NWMLS that tell us what is happening in the Ballard, Seattle real estate market. Details that can guide you as both a buyer and a seller. As a seller, knowing the sold prices are a great way to price your property according to market value. The benefits of pricing appropriately from the start are a great way to achieve a shortened market time and more than one offer allowing for an increased chance at making money at resale. As a buyer, you can find out the necessary details that help you put together an offer on Ballard, Seattle homes for sale that stands out in our competitive market. So how is the Ballard, Seattle Real Estate market doing? Let’s take a look!
The good news for sellers is that sold prices for homes for sale in Ballard, Seattle are up. The average is up 15% from this time last year at $779,402. The median sold price is up 11.1% at $766,100. These sold prices are not only up from this time last year, but also from last month. The average percentage of list price for this neighborhood is at 106.1%. This indicates your negotiation power & tells us that Ballard, Seattle homes for sale, on average, are going for over asking. Your realtor in Ballard, Seattle can explain how you can use this number to your benefit when it comes to making or accepting an offer.
As far as inventory in this neighborhood is concerned, there is some good news for buyers. The amount of Ballard, Seattle homes for sale is up 5.3%. The amount of new listings is down 11.6%. Closed sales are down 15.5% and pending sales are down 19.9%. The month supply, not shockingly, is low. This number is at 0.5, which tells us this neighborhood basically has almost no inventory. Month supply is important as it tells us who has control of the Ballard, Seattle real estate market. Anything less than 4 is a seller’s market while anything over 6 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 down to 11. If you are looking for a Ballard, Seattle Realtor or Ballard, Seattle homes for sale, feel free to give me a call. I would be happy to help! For more neighborhood monthly reports, visit www.teamshutes.com.